A Study on Consumer Buying Decision Process of Economy Class Cars in

Bengaluru

Guruprasad Upadhya131GCMA044

RVIM

Introduction Automobile industry•Automobile industry is a wide range of companies and organisations involved in designing, developing, manufacturing and selling motor vehicles.•It is the key driver of any growing economy•India is 2nd largest fastest growing automobile market in the world and 4th largest in exporting .•There is growth of 12.9% in automobile market

Consumer behaviour consumer behaviour is the actions and

decision processes of people who purchase goods and services for personal consumption

Needs to study consumer behaviour To improve marketing strategies To reduce wastage, and save money To improve quality and design product To explore new market

Statement of the problem Consumer decision making is an important

aspect in marketing it makes the company to understand the exact needs, wants, behaviours towards a particular products or services.

Consumers not only educate the vendors, manufacturers what kind of products they are interested in what to produce, when to produce also guide them to manufacture improved and quality products hence the need for the study is felt.

Objectives

To Study various factors influencing customer purchase decision

To Study various aspects of customers purchase decision

To analyse impact of brand name on customer purchase decision

To identify various sources of information used by consumer

The methodology adopted in this project work is the descriptive method

Sampling method: The sampling technique used in the research is the random sampling.

Sample size: 100 respondents Tools for Data Collections: Structured

Questionnaire

Methodology

Method of Data Collection: Survey Method

Primary data: The first hand data was collected from the respondents by administrating a structured questionnaire.

Secondary data : The data is collected through Books Journals Academic reports Internet

Methodology (contd)

Data was obtained from questionnaires.

The data collected was tabulated and analysed through charts and graphs.

The percentage analysis method was adopted to determine the findings of the study.

Analysis

Findings Consumer behaviour changes based upon their income level, size of

the family and other needs. People buy the car based upon the income level and also their personality ,life style also effects buying behaviour.

Usage of fuel in the cars also vary most of them use patrol compared to diesel and other fuel types CNG or battery driven cars are not much used because of their less efficiency and more maintenance cost.

Consumer behaviour while decision making is influenced by various factors such as price, brand name, safety, mileage etc

(Contd) Consumers in bengaluru most of them prefer in

economy class cars is hatch back type models because it is easy to use and maintain. also not only 4 seaters but also cargo holding at the back makes them its comfortable

Consumers are brand conscious whatever the income group may be they prefer the brand which has features and best services provided by the dealers.

Most of the respondents are satisfied with their brand and the luxury, comfort, efficiency it is providing.

(Contd ) Consumer is not only the sole decider but also there are

external groups that influence him regarding his purchase such as family members, advertisement, social media etc. these groups will give him the idea about the car that he wants to buy what features that has to be bought. Also influence him whether to buy the car are not

Colour factors are important for the consumer and it also influence him in selecting the particular car. Colour has psychological ability that appeals to the consumer while buying the car.

According to consumers Economy class cars lies between 4lakhs to 5lakhs this shows that it is not the price that matters to buy a car but a economy class car must have safety, mileage, luxury, efficiency and stability.

Suggestions Reference groups are the main influencing

factors for consumer in his buying decisions hence on should target those groups to identify consumer behaviour

In economy class car consumer perceptions is not only price but also the luxury, car features, also quality. Hence the dealers must concentrate not only on lowering price but also improving quality.

(contd) Price factor is the main priority for a middle level

income groups hence the price of the car must not be too high

Most of the consumers are brand conscious hence company must try to retain its brand image by providing quality products

Consumer behaviour is altered by the friends and family members in buying decisions that thought must be changed because sometime those external factors may give wrong information even if the particular car is good quality

Conclusion

Brand perception is something which starts building up before a car is purchased and goes on with its use and is reflected in the recommendations.

Economy class cars means not only low price cars, But car which has features, safety, low price

Majority of the buying behaviour is influenced by family and other reference groups

(Contd)

Income level also modifies consumers purchase decision

Majority of the consumers are brand conscious

Thank You