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Synopsis of research project Study the influencing factors of buying decision of nondurable goods

Submitted to by Dr. A.S. Sapre Akhil Nigudkar

Submitted

IM-2k7-09 MBA(ms) 5yrs 9


th

sem

Title Study the influencing factors of buying decision of non-durable goods

Introduction
Marketing is influenced by many of the social sciences, particularly psychology, sociology , and economics. Anthropology and neuroscience are also small but growing influences. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. So it is clear that marketing concept in the present scenario is consumer oriented. Marketing efforts are mainly for attracting the customers and satisfying their expectations The project is done in order to understand the functions and activities connected with marketing department. The study includes identifying the purchase influencing factors of nondurable goods. it is clear that marketing concept in the present scenario is consumer oriented. Marketing efforts are mainly for attracting the customers and satisfying their expectations. A sincere effort is made to bring out the factors behind the consumer buying decision of non-durable goods through the present study. Why do we need to learn about consumer buying behavior? The simple answer is that no longer can we take the customers for granted. Consumer buying behavior determines how our consumers decide to buy our product and what are the various factors responsible for this decision?

Objective of the study 1. To study the elements that influence consumer buying decision of non durable goods
2. To identify whether the price of the product have any impact

on the customer buying. 3. To know the influence of advertisement on the customer buying behavior.

4. To find out the association with brand name of the company

and the

consumer buying behavior.

Scope of the study The consumer or buyer is the person or group of persons, who decide what to buywhen to buy and what not to by. In competitive environment one cannot thrust aproduct on consumer. He has to produce what is demanded or what can be demanded. The marketing personnel study consumer behavior to find out what can be sold and what good s and services are likely to be rejected. Through the study he is motivated to buy or not to buy after study of consumer behavior through market research or otherwise manufacturer tries to find out how sales can be pushed of existing products, what changes are required in existing products, what changes are required to get larger market share. The more important 66more important function and purpose is to influence the behavior of consumers through advertisements, incentives and other methods so that consumer behavior is studied buy marketing personnel to influence the behavior of consumers after studying what factors decides the behavior for a particular product , persons, groups or regions.

Hypothesis Ho: There is no significant relationship between price of the product and customer buying decision. Ho: There is no significant relationship between brand name of the company and customer buying decision.

Ho: There is no significant relationship between company advertisements and customer buying decision Ho: There is no significant relationship between family/friends opinion and customer buying decision. Materials and Methods 1 .Primary Sources. 2. Secondary Sources. 3.questionarre 4 samples i. Sample of 30 respondents were obtained from the people ii. Sampling Design random sampling is used in the study 5. Tools and Techniques for AnalysisCorrelation is used to test the hypothesis and draw inferences. 6.location would be indore only

Literature review It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual customers such as demographics and behavioural variables in an attempt to understand people's wants. Belch and Belch define customer behavior as 'the process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires.

Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for:

Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy.

Marketers can better predict how consumers will respond to marketing strategies.

http://www.udel.edu/alex/chapt6.html http://www.usq.edu.au/course/material/mkt2001/consumer_behaviour.htm http://www.marketing91.com/factors-affecting-consumer-buying-behavior/

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