Analyses the effect of Consumer Behavior on the purchase of Refrigerators

8/10/2019 Analyses the effect of Consumer Behavior on the purchase of Refrigerators

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Presented by :

Renu ourya

Saurav Singh

Ravi Pandey

Sameer Rastogi


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A chilled glass of water, a large mug of beer,

a tall glass of refreshing laaemonade, a nicebowl of cold salad and a big helping of a

frozen dessert.

Summer dreams are made of these.But ever imagined what would happen to

those dreams if not for a big, vertical,

rectangular box called the refrigerator?


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History

Before the invention of the refrigerator, Ice houses were

used to provide cool storage for most of the year.

At the start of the 20th Century Ice boxes were used to

store the food products.


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The first refrigerator to see widespread use was the General

Electric "Monitor-Top" refrigerator introduced in 1927 .

Gradually with the development of technology different

types of refrigerators are manufactured and today it is one

of the most common household .


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Companys ability to maintain satisfying customer

relationships requires an understanding of

consumer buying behaviour. Consumers have

limited time, energy and financial resources. Within

the available resources, they make purchase and

consumption choices as they wish. Consumerspurchasing decisions take place over a period of

time. The overall goal during this decision process is

to evaluate various alternatives and choose the

product that satisfies the consumer in an optimalway.

Introduction


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Consumers get influenced by

several major factors while they

make their decisions These

factors can be grouped as:

social

cultural

Psychological

Personal factors etc


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The purpose of this study is to understand key INTERNAL and

EXTERNAL variables influencing the buying behaviour of a particular

segment of customers towards the product category of Refrigerator.

Consumers get influenced by several major factors while they make their

decisions. These factors can be grouped as demographic, social, cultural

factors etc.


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The External factors that influence the

purchase decision of consumer for a

Refrigerator.

1) Demographic Details

2) Media Habits

3) Indian Culture

4) Occupational Subculture

5) Family

6) Social Class

7) Reference Groups8) Celebrity and Opinion leader.


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Product

Aesthetics (looks,color) are major considerations while purchasing Refrigerators

so wide range of color should be available to fulfill the demand of maximum

customers.

After Sales Service is the main attributes being looked while purchasing the

product.

More feature and maximum shelf space inside also looked while purchasing the

product so more shelves to be provided in door side of the refrigerator so that more

bottles can be kept inside it.

Price

All customers look for Value for Money. Mostly people are price conscious whilepurchasing the product.

Low price also acts as a social barrier as people consider low price refrigerator

as a low quality product.


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Place

Location of showrooms is not the most sought after criteria in the purchase

decision because refrigerator is a high-involvement product and customers are

ready to travel for purchasing refrigerators. But show room should be at such a

place where other competitors are also available because people always want to

make comparison.

Since India is very rich in its customs and traditions, a number of festivals are

celebrated throughout the year. People prefer to do major purchases during

festival and special occasions so marketer should take this as an opportunity and

provide maximum range of the products.

PromotionFocusing on the promotion element of the four Ps, good communication is the key

to effective marketing. Potential customers go through a purchase cycle: pre-transactional (i.e before a purchase), transactional (i.e at the time of purchase) and

post-transactional (i.e after the purchase has been made).


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The AIDA model encapsulates this sequence and can assist

in the planning of any communications campaign:

A awareness/attention - making the consumer aware of theproduct and getting their attention

Iinterest generating interest in the

product/service on offerD desirecreating a desire for your product/service on two levels: first, related to the targetsneeds/wants; and, second, relative to your competitors

Aaction stimulating the target to purchase theproduct/service


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The Internal factors that influence the purchase decisionof these consumers for a Refrigerator :

1) Need for the Refrigerator (whether need is physiological oresteem)

2) Personality of the buyer: whether he is extrovert or introvert,

open to experiment, etc.

3) Brand personality as perceived by the buyer and how he

relates it to his own personality.

4) Attitude of the buyer towards the Refrigerator or the brand.

5) Loyalty towards a particular brand of Refrigerator.

6) Positioning of a particular brand in the mind of the buyer.


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Need for the refrigerator

The need for refrigerator is mostly just a physiological need and a refrigerator is

a utilitarian product for all the consumers.

In cases where a high end refrigerator is bought it is also to satisfy the esteemneed of the consumer. By buying a high end product at a premium price the

consumer would like to impress his friends or relatives after being seen using a

stylish and high technology product.

Marketing Implications:

In the case of high quality product the marketer should try to promote its products

in a way such that the consumer feels that owning the product will enhance his

esteem. In case of a utilitarian product the marketer should promote its product as

a product which fulfills physiological needs of the product.


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Emotions towards purchase of refrigerator

Refrigerator is a utilitarian product which is used in homes so the

consumer has a positive emotion towards it.

Marketing Implications:Marketers should make sure that purchase of refrigerator is

accompanied with positive emotion arousal for the refrigerator aswell as for the brand.

Brand-loyalty

Consumers who are brand loyal will always prefer the products of

their brand due to the trust & faith that their brand is best in the

business.


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The marketer should try to inculcate the feeling of loyalty in the

mind of the consumer because when a consumer is loyal towards a

brand .

Attitude of the buyer towards the Refrigerators

Double door Refrigerators are considered more useful thansingle door refrigerators.

High priced goods have better quality.

If a buyer has got positive emotional reaction towards a

particular brand, he will always prefer this brand and it is very

difficult for the competitors to attract him towards their products.


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Marketer should build the positive image in the minds of the

consumer and should work hard to maintain that image. This positive

image will then result in a positive attitude towards the brand.Comparative advertising can be used here by the marketer to generate

attention, message and brand awareness in the minds of the customer.

Motive of buying refrigerator

Both the manifest & the latent motives play important part in the

purchase behavior of the refrigerators.


Marketer should promote and position its products in such a way that

the consumer believes that buying his brand will fulfill all his motives

of owning the product.


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Analyses the effect of Consumer Behavior on the purchase of Refrigerators

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