Factors Affecting Buying Behavior of Consumers in Unauthorized Colonies for FMCG Products
نویسنده
چکیده
Fast Moving Consumer Goods (FMCG) sector is the fourth largest sector in India touching everybody’s life every day. With changing profile and mindset of Indian consumers, this sector has a constructive potential in the form of semiurban, urban slums and emerging rural segment. In coming years, with rapidly changing socio – economic landscape, bottom of pyramid will be the fastest growing consumer market. The research work is an endeavor to study the factors that affect the buying behavior of consumers residing in unauthorized colonies in urban India. The study was conducted with the help of semi – structured questionnaire employing mixed method research approach using explanatory design with concurrent timing. The study first examined the socio – economic factors, followed by product preferences – generic or branded under various heads of FMCG product categories, reasons for such preferences followed by factors affecting the buying behavior. There were twenty one such factors placed under five broad categories. The findings of the study reveal that consumers in such areas prefer brands over generic products. At the same time reliability, product features and socioeconomic factors have a large impact on buying behavior along with promotional offers.
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