Factors Affecting Consumer Decision Making For Purchasing Selected Home Appliance Products Based On Market Segmentation-A Feedback Study of People Associated With Management Education

Technological up-gradation as a crucial criterion for societal growth resulted in drastic change in consumer’s taste and preferences. People are shifting from traditional one to modern lifestyle product. During mid of twentieth century the marketing concept has been developed with hard core materialistic exchange concept. But introduction of service sector changed the scenario with value concept based on psychological view point of the consumer. In this research paper we have drawn sample from Kolkata, segmented by people associated with management education. This study is to establish empirically the external and internal influences on customers’ decision making. Several market segmentation factors over consumers’ perception towards selected home appliances products have been taken. We have tried to judge market segmentation factors like demographic (age, gender, education, occupation) and psychographic (lifestyle, social class, personality, behavioral (values, status and Convenience), self concept and their impact on Customers’ decision Making. It scrutinizes the association between above mentioned independent variables with dependent one (purchase intention). This paper reveals the fact that ‘psychographic’ is the most significant market segmentation factor. It also reveals most important combination of factors behind people’s buying intension is ‘occupation’, ‘life style’ and ‘value’. The result may lend a hand towards organization to percept consumers’ perception for the benefit of organization as well as customers.