Submitted to: Mr. Prateesh Srivastav
Submitted by:Nitin Sharma RS 1903B-30 Reg No- 10904136 MGT-516 
Contents:1. Acknowledgement 2. Objective 3. Overview 4. Industry Analysis 5. Literature review 6. Findings 7. Conclusion
I am thankful to Mr. Prateesh Srivastav for providing me the task of preparing the Term Paper of Consumer Perception About Durable Goods . We at Lovely believe in taking challenges and the term paper provided me the opportunity to tackle a practical challenge in the subject of marketing. This term paper tested my patience at every step of preparation but the courage provided by my teachers helped me to swim against the tide and move against the wind.
Objective of the study is to study the consumer behaviour about durable goods. Here we have to study how Indian consumer is behaving , how he behaved in past and what are the future estimates about. The study is based upon the secondary data , after going through the secondary data we have to draw a conclusion.
India in its 62 years of journey has seen manifold increase in the income of its denizens (Rs. 38,084as on 2009) and this has led to paradigm shift in the purchasing behaviour of the people here. There is a noticeable shift in the consumer’s preference in favour of higher end, technologically superior branded products, the demand being fueled by increasing consumer awareness and preference for new models. This shift is also because of the increase in manufacture of branded products and narrowing down of price between branded and non-branded goods. Competition hasforced the companies to offer efficient after sales service and support and this, in turn, has swayed customer preference for branded products. Post liberalisation there has been inundation of goods transcending the borders and the customer has a wider choice; breaking the shackles of the consumers regarding limitations of choices. Indian consumer durables market used to be dominated by a few domestic players like Godrej, Allwyn, Kelvinator, and Voltas. But post-liberalization many foreign companies have entered into India, dethroning the Indian players and dominating the market. The major categories in the market are CTVs, refrigerators, air-conditioners and washing machines. The rural market is growing faster than the urban markets, although the penetration level in rural area is much lower. The CTV segment is expected to be the largest contributing segment to the overall growth of the industry. The rising income levels, double-income families and increasing consumer awareness are the main growth drivers of this industry. In addition to them the young nature of
population and easy finance options are also fuelling the market and its dynamics. Consumers today are more indulgent in market place than their predecessors. There has been shift in the definition of needs and wants. For example a mobile phone is more of a need today then a want. Westernisation has influenced the psyche of the Indian customers to a degree. This report is an attempt to reflect the changes in the consumer buying behaviour in the Indian Market especially in home appliances buying. KEY GROWTH DRIVERS FOR CONSUMER DURABLES Rise in disposable income: The demand for consumer electronics has been rising with the increase in disposable income coupled with more and more consumers falling under the double income families. The growing Indian middle class is an attraction for companies who are out there to woo them. Availability of newer variants of a product: Consumers are spoilt for choice when it comes to choosing products. Newer variants of a product will help a company in getting the attention of consumers who look for innovation in products. Product pricing: The consumer durables industry is highly price sensitive, making price the determining factor in...