IMPACT OF SUPERSTITION BELIEFS ON PURCHASE INTENTION OF INDIAN CONSUMERS

Abstract

India is seventh largest in the world by nominal GDP and the third largest by purchasing power parity (PPP), which makes India an interesting destination for developing new market. Thus, existing companies and the one who wish to enter Indian market should take every aspect into consideration. India is also land of tradition, culture and festivals. People residing have faith in various religions and being secular state, every religion is respected. There are numerous examples of popular superstition beliefs in Indian society. Thus, purpose of this project is to study how superstition beliefs influence the purchase intention of consumers in India. In this study, there are seven factors that are related to superstition beliefs i.e. Anthropomorphism, Horoscope, Extrinsic superstitious beliefs, Self-esteem, self Happiness. The aim of the paper is to understand the impact of seven factors on Purchase intention of consumers in India. For this purpose, exploratory cum descriptive research is conducted where a self- administered questionnaire was filled by 144 respondent of various age group. The results revealed that purchase intention of Indian consumer was influenced by three of the seven factors of superstition beliefs that are Horoscope Importance, Intrinsic Religiosity and Self-esteem. Marketers can use these factors to connect with Indian consumers.