SYNOPSIS ON ³To study the various parameters influencing the buying behavior& preferences of customer with special reference

to electronic durable.(Lcd, microwave, refrigerator)

Submitted to:

Kurukshetra University, Kurukshetra In partial fulfillment of the Requirements for the award of Degree of Master of Business Administration (2010-2012)

Under the Supervision of: Miss supreet johal Faculty MBA, MAIMT

Submitted by: Manish Roll no: 936 MBA(F)

MAHARAJA AGRASEN INSTITUTE OF MANAGEMENT & TECHNOLOGY (ISO 9001-2008 Certified), Approved by AICTE and HRD Ministry, affiliated to Kurukshetra University, Kurukshetra

JAGADHRI-135003 (YAMUNA NAGAR)

INTRODUCTION TO CONSUMER BEHAVIOUR .

social economic and cultural background. Satisfaction of the consumers becomes the most important goal of a business enterprise. professional needs. gender.Consumer behavior is affected by a host of variables ranging from personal. friends. The effort to ensure consumer satisfaction lies in understanding the consumer. Definition of Consumer Behavior 1. perceptions attitudes. colleagues. According to Vilky L. There are four major factors which influences on the buying behavior of consumer. what they buy. the learning process personality characteristics are the similarities. and society as a whole. . Psychological facto rs Marketing starts with the consumers and ends with the consumer. Williams ± ³This process related to personal. his expectations and motivation. 2. motivations. And this is related to consumer market where millions of people every year purchase the products from lakes of selling points´. This is related to distribution ± How are the product composes & planned and sold to consumers. Cultural factors 2. his likes dislikes. why they buy and how do they buy. professional status to social influences of various kinds exerted a family. which operate across the different types of people and influence their behavior. According to Walter & Yana ± ³Consumer behaviour is that process by which consumer decides to purchase. The combination of these factors help the consumer in decision making further Psychological factors that as individual consumer needs. 1. attitudes and values. how do they purchase and from where do they purchase´. age. when do they purchase. Social factors 3. personality characteristics. Personal factors 4.

perceptions attitudes. consumer motivation. The essence of modern marketing lies in building of profit along with creating meaningful value satisfaction for the costumers. So the ultimate objective of a business firm is to create a consumer who is said to be pivot around which the entire business of a firm revolves. . motivations.An analysis of the consumer¶s behavior in terms of consumer consumption patterns. Personal factors 4. social economic and cultural background. friends. All the business activities should be carried out in ways which are directed towards the satisfaction of the consumer needs. whose needs and desires have to be coordinated with the set of products and production programmes. age. colleagues. values and customs that serve to guide and direct the consumer behavior of all members of that society. The combination of these factors help the consumer in decision making further Psychological factors that as individual consumer needs. professional needs. gender. marketing success an enterprise depends as its ability to create a community of satisfied consumers. Therefore. MAJOR FACTORS INFLUENCING BUYING BEHAVIOR Consumer behavior is affected by a host of variables ranging from personal. which operate across the different types of people and influence their behavior. Thus the marketing concept is consumer oriented and the emphasis is more on the consumer rather than on the product. professional status to social influences of various kinds exerted a family. consumer preferences. Cultural factors 2. Social factors 3. attitudes and values. the learning process personality characteristics are the similarities. 1. and society as a whole. There are four major factors which influences on the buying behavior of consumer. personality characteristics. Psychological factors 1. consumer buying process and shopping behavior is very much helpful to formulate a firm¶s marketing strategy. Cultural factors: Consumer behavior cultural can be defined as the some total of learned belief.

economic circumstances. Brands such as food and clothes are bought to fulfill psychological needs. occupation. Psychological factors: µAbraham Mallows¶ needs can be ranked in order of importance from the low biological needs to the higher levels of psychological needs. Technical learning. Cultural is a most fundamental determinant person¶s wants and behavior. MASLOW¶S hierarchy of human needs make us understand consumer motivation. life cycle stages. lifestyle and personality and selfconcept. . 2. Social factors: Consumer behavior is also influenced by such social factors as reference groups. preferences and behavior. the buyers¶ age. 4. family and social roles and status. Personal factors: Buyer¶s decisions are also influenced by personal characteristics. It is useful for the marketer who can identify what generic level need this brand is capable fulfilling and accordingly position his brand up with relevant marketing inputs. perceptions. 3. Informal learning 3.Cultural is a learned through the following three ways:1. the growing child acquires a set of values. through his family and key institutions. Formal learning 2.

LITERATURE REVIEW .

Lowes price. social economic and cultural background. Only the place has convenient to the buyers has medium important level to the consumers . There is a huge difference the factor affecting the perception or buying behaviour of the rural and urban consumer affect. extended warranties technological change etc. perception. The third factor was place factor. discount. professional needs. Erda (2008) In this study the researcher found that the mobile phone companies have require the special marketing strategies and action plan into account the set of factors that influence consumer behaviour for the rural marketing with respect to urban marketing. motivation. The second factor was the price factor affects the consumers¶ purchasing power. attitude for making the buying decision of the motorcycle. The concluded part of the study is most of the respondent are influenced from the appearance and style of the bike but after these there is no of factor which influence the buying behavior of the customer like maintenance cost. D. these factor helpful for making further psychological factors that as individual customer need. Akbar Sher (2011) So from this study the researcher realized that majorities of buyer give importance to the products and quality. price. personality characteristic. And also suggests that the company owner should decrease the insurance fee to the minimum level. have also shown high level of important for consumers¶ decision. professional like family friends colleagues etc.Chirag V. So the companies have to make the different strategies according to the geographical area. Reddy K. quality with competitors and value for the price paid have shown high level important. mileage. Mallikarjuna (2007) In this Researcher concluded in this study that the consumer behavior is affected by a host of variables ranging from personal. attitude and value. Sreeramulu (2007) The study taken up the various aspect of the bike for the study.

Good awareness about the product¶s feature. different type of learning.Muthukrishnan K. guarantee / warrantee. extra feature provided acc to the customer. relatives and neighbors found important in purchase of durables by respondents. world of mouth of the company. Price. Rohit Lohani (2010) In the research. N. sources of important information authorized dealers¶ shop. SRICHAN SRIVIROJ (2007) The researcher concludes in this research that the young consumer buying behaviour toward the luxury products are mainly affected by the cultural and psychological factor. So the marketer must understand how the customer made his purchase decision towards the brand. role of TV as media and influence of friends. Mahim Sagar. The study concludes that the competitive market provides opportunity on one hand and threats on the other hand to both the consumer and the producer. brand name. Not only quality improvements . Different kind of cultures. brand image plays an important role. the marketing variable like advertisement. Binith. the researchers found a no of factors in the laptop market for influencing the buying behaviour and perception of the customers. While. are the factor which influence the buying decision and perception of the customer. 2010) In this study the researcher founded that Company or Brand Name. technical expert advice. Ananthi (2010) In This study. it is become quite important to improving core products with value addition to enrich customer satisfaction more in the similar price range. brand loyalty. and After Sales Service are the important factors in purchase of durables. researcher were observed that in making the tendency of customer o prefer a brand. quality of the product. motivation attitude etc which influence the buying behaviour of the young customer. advertisement campaigns. Vyas (Dec. Like in term of purchasing luxury products the UK and Thai Consumers are different perspective than the Chinese consumer Hitesh D.

. Lilly j ( 2008) In this research. monthly income. gender. educational qualification. occupational status. This is mainly because of the fact that the buying capacity of the consumers may not be equal to the buying capacity. Therefore the producer must be paid special attention at least with regard to price and distribution system to cover the large number of customers. K. size of family are the most influencing factors that affect the customer perception and preferences towards the branded television sets.but improvement in after sales service can development replacement demand or demand for second piece in the households. RAJASELVI The consumers are particular about the appropriate system of distribution and hence there is a great need for change in the distribution system. researcher concludes that the demographical variables such as age. marital status. quality of the products and price of the products. It may not be always correct to say that consumers behave in the same way as it much depends on type of products. residing area.

INDUSTRY PROFILE .

this sector has undergone a rapid growth and development since ushering in of liberalization in India. especially from South Korea and Japan. urban population is showing preference to the MNCs brands. It plays a vital role in the fields of atomic energy. The industry was very inefficient producing outdated and low quality models at a very high cost. as healthy companies gain market share by buying out weaker ones at attractive prices. The biggest attraction for MNCs is the growing Indian middle class. from black and white TVs to LCDs. an extensive distribution network and an insight in local market conditions. whose success story is based on the export promotion techniques in this sector. This resulted in the electronics industry being highly underdeveloped till the late 1980¶s.Electronic goods sector is a major booming sector in our country. Policy reforms were initiated in the early 1990¶s with the liberalization of trade and . Indian Consumer Electronic Goods Sector is facing a lot of competition from abroad. Consumerization of technology could be a major phenomenon over the next 5 to 10 years. entertainment and space technology. it¶s now a trend that while rural population has greater access to goods from Indian manufactures. This market is characterized with low penetration levels. from analogue terrestrial cables to DTH services and from landline phone to mobile internet. Thus. while domestic companies compete on the basis of their well-acknowledged brands. communications. Not only as an intermediate commodity. the electronics industry occupies a key position in modern science and technology. This could hasten the industrial consolidation. However. Among manufacturing industries. Until the 1970¶s the electronic industry was the most protected of all the Indian industries. the companies like LG and Samsung have become popular MNCs. from cassette to DVDs. defense. These developments did not take place in one day. MNCs hold an edge over their Indian counterparts in terms of superior technology combined with a steady flow of capital. From a small capital based firm. education. The country¶s electronics policy strongly favored self-reliance and technology and capital imports were strongly discouraged. but more as a consumer product. but the pace of this innovation was impetus.

Main Key Player In India y LG y SAMSUNG y ONIDA y VIDEOCON y GODREJ y BPL y KELVINETOR y VOLTAS y WHIRLPOOL y ELECTROLUX y SONY y PANASONIC y SONY . the industry experienced restructuring.industry sectors. It is growing at over 25% CAGR and is expected to be worth US $ 158 billion by 2015. THE INDIAN ELECTRONICS INDUSTRY The Indian electronics industry today stands at US $ 25 billion. With the change in the policy regimes after liberalization. This industry is one of the fastest growing industries in the country and is driven by growth in key sectors such as IT. Consumer Electronics and Telecom. It is ranked 26th in the world in terms of sales and 29th in the world in terms of production.

OBJECTIVE OF THE STUDY AND RESEARCH METHODOLOGY .

and REFRIGERATOR. The main objective is below MAIN OBJECTIVE: y To analyze various factor influencing the buyer behaviour & customer purchase decision for electronic products. Thus the problem definition is evaluating various factors affecting the buying behaviour of customer with reference electronic products OBJECTIVE OF THE STUDY: The objective of these study have been divided into main & sub objective. y y y . Therefore in this study an effort has been made to evaluate such important factors by surveying 100 people regarding their perception of such factors. Depending upon the above maintained objective following sub objective have been formulated SUB OBJECTIVE: To study the impact of advertisement on purchase decision for electronic product.Research MethodologyProblem Statement: For the review presented there are various researches conducted in the various areas related to electronic products But further there are a number of factors which have not been thoroughly looked at. MICROWAVE. To have a comparative analysis regarding the most preferred brand for LCD. To study the group influence in selecting brand.

y Primary Data: For the purpose of collecting the Primary data survey method is used in the study. Yamuna Nagar and secondary data is collected with the help of Internet and Journals. using the following tools: 1. SAMPLING FRAMEWORK Sampling is an essential technique in the field of research. The sample must be the representative of the various strata of the population to yield reliable results. Times of India. Questionnaire: For purpose of getting the desired and useful response closed and open ended questions are asked. Various factors affecting the quality of work life is taken into consideration in this study. Determining the size of the sample and its method of selection plays a pivot role in a sample survey.METHODOLOGY OF THE STUDY: RESEARCH DESIGN The study is descriptive in nature as the factors are already explored and the variables are not controllable. SOURCES OF DATA Present study is mainly based on the primary and secondary data. Interview: Along with the questionnaire unstructured interview are conducted to know the other information that can¶t be collected by the questionnaire. Consumer market. Journals like Abhigyan. Primary data is collected with the help of a survey of 100 respondents. Magazines. 2. . General sources includes collection of data and information from newspapers like Economic Times. y Secondary Data: Secondary data is collected from various general and specific sources. Probably no concept is as fundamental to conduct research and interpretation of its results as is sampling. MAIMT Journal of IT and Management and specific sources included the websites of various companies.

Non-probability sampling is used. Convenience sampling Technique is used.  Sampling Technique For the purpose of selection of respondents. Sampling method This study is based on the consumer market. So for the purpose of selection of respondents.  Sampling Area Yamuna Nagar is the area selected for the purpose of collecting the data from respondents. TOOLS FOR DATA ANALYSIS  Tables  Graphs  Correlation .  Sample Size For this study a sample of 100 respondents is selected from the Yamuna Nagar Region.  Sampling unit In my present study Buyers of electronic products are taken as the sampling unit.

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