Synopsis on Consumer Behaving Behaviour
Consumer Buying Behaviour Introduction: Consumer buying behavior is the study of human responses to products or services and the marketing of products/services.The study of consumer behavior focuses on how individuals make their decisions to spend their available resources (time, money, effort) on consumption related itemsor consumption related aspects (What they buy? When they buy? How they buy? ).It also study of individuals, or organisations and the processes consumers use to search, select, use and dispose of products, services, experience, or ideas to satisfy needs and its impact on the consumer and society.
Buyer behaviour is deeply rooted in psychology with dashes of sociology thrown in just to make things more interesting.
Since every person in the world is different, it is impossible to have simple rules that explain how buying decisions are made. But those who have spent many years analysing customer activity have presented us with useful “guidelines” in how someone decides whether or not to make a purchase. The evaluation of marketing concept from mere selling concept to consumerorientedmarketing has resulted in buyer behaviour becoming an independentdiscipline.
The growth of consumerism and consumer legislation emphasizes theimportance that is given to the consumer. Some consumers are characterized as being more involved in products andshopping than others. A consumer who is highly involved with a product wouldbe interested in knowing a lot about it before purchasing. Hence he readsbrochures thoroughly, compares brands and models available at different outlets, asks questions, and looks for recommendations. Thus consumer buying behaviour can be defined as heightened state of awareness that motivates consumer’s to seek out, attend to, and think about product information prior to purchase.
Company profile: The City of Chennai is the Citadel of South. This City is known for promotion of culture, tradition and industry. The House of Khivraj is well known in the Automobilein this Metro. The flag ship company of the Group is “KHIVRAJ MOTORS LTD “. This Company was dealing in the vehicles manufactured by Hindustan Motors Ltd for 35 years. This company was also dealing in two and Three Wheelers of Bajaj Auto Ltd for four decades. Now, the company has taken Dealership for Maruti Vehicles. The Company is proud to have an independent Body shop with modern gadgets.
The Company has diverted the Dealership for Bajaj Auto Ltd. ’s products to its sister concerns to have clear focus in its operations. These concerns have modern show rooms and operate speciality ideal workshops for two and Three Wheelers. The automobile turnover of the group has crossed billion rupees. The management of the Company vests with Shri AJIT KUMAR CHORDIA who is a young dynamic technocrat and administrator with admirable skills in different spheres and Shri BHARAT KUMAR CHORDIA a young administrator who is known for his acumen in several fields and managerial capacity.
They are guided by the Company Chairman Shri NAVARATANMULL CHORDIA who is groomed by the Founder of the Company Late Shri KHIVRAJ CHORDIA. Statement of the Problem: • Consumers are booking for a bike and at last they are not purchasing the bike. • Availability of goods & services at proper time. • Comparing of dealership in terms of price and discount. Need for the Study: • To understand the buying roles of the consumer • To analyse the consumer’s decision making process. • To know growing market segments of company for consumers To know what features or product design acceptable by consumer Objectives of Study: • To understand the major factors influencing consumer behaviour. • To Know and recognize the types of buying behaviour decision behaviour. • To understand how consumers make purchasing decisions and respond to purchasing. • To understand how marketers analyse consumer decision-making. Scope of the Study: • To distinguish different consumer groups and to develop products that satisfies the needs. To understand how consumers make purchasing choices among products/services. • To know how consumers will respond to different product features, prices, advertisement appeals. Research Methodology: Research methodology is the systematic process of collecting and analyzing information (data) in order to increase our understanding of the phenomenon about which we are concerned or interested. In other words research methodology is an endeavour to discover answers to intellectual and practical problems through the application of scientific method.
Research Design: Survey research is the systematic gathering of information from respondents for the purpose of understanding and/or predicting some aspects of the behaviour ofthe population of interest. It is the most common method of collecting primarydata for marketing decisions. Survey can provide data on attitudes, feelings, beliefs, past and intended behaviour, knowledge, ownership, personal characteristics and other descriptive items. Survey research is concerned withadministration of questionnaires (interviewing).
The survey research must beconcerned with sampling, questionnaire design, questionnaire administrationand data analysis. Sampling: Sampling is the process of selecting units (e. g. , people, organizations) from a population of interest so that by studying the sample we may fairly generalize our results back to the population from which they were chosen Sample size: The sample size of a statistical sample is the number of observations that constitute it. It is typically denoted n, a positive integer. Total 200 samples taken for analysis and interpretation.
Data collection methods: For making analysis and interpreting the data; there are two methods have been used for collecting the data i. e. primary method and secondary method. Tool for data collection: Questionnaire (Sequence and layout) • Primary Data: Questionnaire Method and interviewing method. • Secondary Data: Marketing Management book and weekly journals. Chapter Scheme: Chapter 1. Introduction Chapter 2. Company Profile Chapter 3. Research Methodology Chapter 4. Analysis and Interpretation Chapter 5. Findings recommendations and Conclusion