GALAXY

Presenter Name
9/3/20XX 3

PRESENTATION TITLE

INDIA – A PRICE CONSCIOUS MARKET

What is Price Consciousness?
 When the price of the product affects consumers purchasing behavior is
known as price consciousness.

 Degree to which the consumer focuses exclusively on paying low prices.

https://www.igi-global.com/dictionary/price-consciousness/55284
Why Indians are Price Conscious?
 Options Availability – There are many options available in the same segment so Indian consumers have an option
to choose from the most cost-effective and reliable ones.

 Low Income & Over Expenses - The majority of people in India having low income so they look for the best & most
cost-effective option in the market.

 Competition & Competitor in Market – There are many competitors in the market for the same product which costs
lower than the other one then why go for the higher one.

 Struggling Phase of Majority – Majority of the Indian citizens are young generation and they are in struggling
phase, so they try to find the best solutions which make India a price conscious country

https://trydigital.website/blog-post/why-india-is-price-sensitive-market-how-to-manage-price-war-in-india/ 7
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https://www.financialexpress.com/industry/banking-finance/indian-consumers-value-conscious-more-demanding/202029/
 How to measure price consciousness?

A/c to the article Assessing Purchase Patterns of Price

Conscious Consumers published in 2018 after the study
conducted at Mid-Florida Research and Education Center,
University of Florida, Apopka & Food and Resource
Economics Department, Mid-Florida Research and
Education Center, University of Florida, to measure
individual consumers’ level of price consciousness,
suggest using a price range or price thresholds to
approximate consumers’ reactions towards price changes
define the degree to which a customer’s buying decisions
are based on price-related aspects.

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 Price Conscious Consumers
Vs.
Quality Conscious Consumers
 Price conscious consumers seek lowest price for the product they buy, their buying
decision is based on how much an item would cost and avoiding buying things that are
expensive, while; Quality conscious consumers seek quality of the product they buy and
quality conscious consumers search for the very best quality in products.

 Price conscious consumers are mostly low income earner, most consumers from
developing and under developed countries and lower socio-economic groups in particular
would tend to be more price conscious, while; Quality conscious consumers are prepared
to pay more for high quality products and they form part of higher socio-economic group.

https://www.linkedin.com/pulse/price-conscious-versus-quality-consumer-adeleke-akande/
Marketing Strategy used by
Companies in Indian Price
Conscious Market
Segmentation – They segment their market based on geo-demographic based on income and
locations.

Penetration Pricing Strategy - Penetration pricing is designed to attract customers who buy
products on the basis of price.

Passing the Buck – Consistently cut costs by either down-sizing or taking a price increase to
drive revenue.

Sales Promotion Strategies – Sale, discounts and various others Promotional activities help in
attracting new customers and wooing existing ones.

Multiple Product Line - Sell multiple product lines under various brand name at different

prices.

https://www.linkedin.com/pulse/price-conscious-versus-quality-consumer-adeleke-akande/
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 CONCLUSION

 Indians are rational customers.

 Low-income is one of the major factor that make India a price conscious
country.

 Indian customers are price conscious , so they need the best out of their
limited income.

 The prices of the products are increasing day by day, so consumers look for
substitute and move towards lowest price items.

 Many online platforms are providing the same product for different prices, so
they choose products having lower price.
THANK YOU