IDENTIFYING CAR BUYING BEHAVIOUR AND PREFERENCE OF CONSUMER IN INDIA

Abstract

Indian automobile market is fourth largest in the world. And it is seventh largest in the commercial vehicle manufacturing. Indian consumers are changing so do their preferences. There are lots of factor for change in behavior. Primarily being the change in the social character. People prefer to stay alone and decide on their own. Individualism is on rise in the Indian society, which is a major change giving rise to a whole new market. The rise in per capita income and disposable income, not only in metros but also in tier-2 cities, gave boost to the consumer market. The purchasing power of the consumer is high as a result market is having positive sentiment. The social as well as economical change led to introduction of new products in the market. In the report, we surveyed people from different background in order to understand the consumer preference and behavior while buying car. We asked them variety of question to understand what factors impact them and what strategies companies can make to tackle them. After analysis of the responses, firstly, we found that safety and performance are the two top-most factor that companies must consider in cars. Secondly, Internet is the most sought platform to search information related to cars. Thirdly, when it comes to promoting and branding, companies must consider that societal status is determined by the cars. The strategy for the pre-sale journey must be smooth because consumer almost decide their car even before visiting the dealership. Lastly, Consumer gets attracted to the offers and discounts provided by the automobile companies which is a great tool to attract during off season or year-end. In India automobile sector is growing and it will keep on growing further at a good pace. The result of the report can shape the decision of the consumer so companies must consider it during preparation of their strategies.