Designation: Asst. Prof.
Institution: Shri HVPM’s College of Engg. & Tech. – Amravati -------------------------------------------------
Title: Consumer Behavior and Decision making process in Rural Market Executive Summary:
Several Indian, European & U.S. multinational firms have been making inroads into the rural India for years. Companies such as Unilever, P&G, Godrej, Marico, Phillips and Nestle have long been known to India's rustic consumers. Among U.S. firms, companies such as Colgate and Gillette have made considerable headway. According to Adi Godrej, the Chairman of Godrej Consumer Products Ltd. marketing to rural customers often involves building categories by persuading them to try and adopt products they may not have used before. For E.G. convincing people to use toothpaste instead of using ‘neem’ twigs; a traditional practice to clean their teeth. These initiatives involve a high degree of patience and piles of investments because of which careers are risked on the line. Marketers often wonder how to bell this cat called the “Indian Rural Folk”. Consumer behavior studies have always helped marketing professional in understanding consumers’ buying patterns and their decision making process. Consumer Buyer Behavior refers to the buying behavior of the final consumers – individuals and households who buy goods and services for personal consumption. All of these final consumers together make the consumer market. And in case of rural India where about 70% of Indian population lives the market is quite huge presenting an attractive opportunity for businesses. Who buys products or services in rural market?
How do they buy these products and services?
From where and how often?
How often do they use these products and services?
These questions will help in understanding better what factors influence the decision making process of the rural consumers. Also, it will help in identifying the number of people involved...