Your SlideShare is downloading. ×

Indian Consumers

590

Published on

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
590
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
8
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Presented by: Achintya PR Avishek Bhattacharya Divya Marwah Mukul Attri Nayana Unni Prashant Patro Siddharth Modak
  • 2. • An individual who buys products or services for personal use and not for manufacture or resale. • A consumer is someone who can make the decision whether or not to purchase an item at the store, and someone who can be influenced by marketing and advertisements. • Whenever someone goes to a store and purchases a toy, shirt, beverage, or anything else, they are making that decision as a consumer.
  • 3. Parameter Traditional Modern Source of Income Single source Multiple sources Disposable Income Less More Choice Less product choices Plenty of choices Product awareness Relatively low Sound knowledge Spending pattern Preferred saving Prefer to spend Shopping pattern Functional Lifestyle & comfort Technology Low need and availability Habituated
  • 4. • • • • • • Pro-growth Demographics Economic Growth Socio-cultural Impacts Aspiration for a better life Brand consciousness Impact of technology
  • 5. • Youth population(20-40 yrs) is more than 54% (Increase in healthcare services resulted in declining death rate and rise in life expectancy) • Increased migration from rural to urban areas( approx 32%) (workforce moving to urban areas in search of better education, healthcare, lifestyle and opportunities) • Cultural Transitions (Retain the core but flexible to change, Amalgamation of New and Old)
  • 6. • GDP- growing at an average rate of 6% for past five years • Transition: Lower Income Group (18%) Middle Income Group(56%) Higher Income Group(26%) • Per capita income: Rs 5,729 per month, increased by 11.7% compared to previous fiscal. • Increasing disposable income. (estimated to be $ 1700 p.a. by 2014) • Av. Industrial Growth Rate is 3.7% last year, showing increased consumption.
  • 7. • • • • • Education Urbanization Women employment Nuclear family Peer influence
  • 8. Rise in income level Rise in living standard Higher purchasing power Higher aspirations for luxury and lifestyle Rising demand for goods and services
  • 9. • Youth deviating from local products to branded products. • Customers like to be associated with a brand. • Shift in attitude: from need based to choice based. • Shift from unorganized retailing to organized retailing.
  • 10. • Rising level of dependency on technology. • Impact of television. • Changing mediums of promotion and distribution • 24X7 shopping through e-commerce. • Call Centre Boomers: (being set up even at rural places, provide enough employment opportunities)
  • 11. Changing trends & Options 11
  • 12. Technological advancements
  • 13. Technological advancements
  • 14. Organized Marketing
  • 15. Social gatherings and party culture 16
  • 16. Changing Habits
  • 17. 1. Languages 2. Symbols and signs 3. Rituals and customs 4. Traditions • Tailor-made communication in tune with regional language • Integrate within marketing mix to get connected. • Anticipate and touch through product and promotion
  • 18. 1. Individual and Family 2. Society through conformity 3. Success and growth 4. Age and youthfulness 5. Happiness and adaptability 6. Religion and spirituality • Address individual from the backdrop of the family • Bank upon deep rooted societal values for quick connection • Link individual achievement with group cohesiveness • Appreciate age and role of patriarch • Create your message on positive sides of life • May link with brand building activity for unique positioning
  • 19. • Mc Donald projected itself into Indian market by valuing consumer‟s eating habits and sustained itself by valuing Indian purchasing power. • Cadbury identified the ritual of gifting sweets to people during festivals and now enjoying a vast customer base. • General Mills (Pillsbury Atta) targeted Indian mothers by showcasing the new behavioral changes occurring in their children.
  • 20. • Femina, magazine for women, communicated the core value of India i.e. “…know nothing can stop me from trying and breaking chains and flying…” • Nestle got positive feedback from customer by launching “Maggi vegetable Atta noodles” working on the platform of Indian definition of health “Health is wealth”. • Horlicks Mother- prioritizing families health, Moov Mother- ensures happiness of family in turn gets recharged by Moov. • Big Bazaar- projects people and happiness with catchline like “Khushiyon se bhari jholi”
  • 21. 1. • Need Recognition And Problem Awareness 2. • Information Search 3. • Evaluation Of Alternatives 4. • Purchase 5. • Post-Purchase Evaluation
  • 22. • Selective Attention is the phenomenon of being able to focus one's attention on a particular stimulus while filtering out a range of other stimuli.
  • 23. • Selective retention, is the process when people more accurately remember messages that are closer to their interests, values and beliefs, than those that are in contrast with their values and beliefs, selecting what to keep in the memory, narrowing the informational flow.
  • 24. • Selective distortion is a term that refers to the tendency of people to interpret information in a way that will support what they already believe.
  • 25. • In US, Coors changed its label from “Banquet Beer” to “Original Draft”, consumers claimed the taste had changed even though the formulation had not. • The case cites the example of Rotarians, who were given same portions under the labels “Medium” and “Large”. Those who received “Medium” meals ate more.
  • 26. • Decision framing is a manner in which choices are presented to and seen by a decision maker • Consumers can be given a „nudge‟ via some small features in the environment that attracts attention and alters behaviour • Mental accounting refers to the way consumers code, categorise and evaluate final outcomes of choices
  • 27. • According to Richard Thaler, mental accounting is based on a set of core principles:1. Consumers tend to segregate gains 2. Consumers tend to integrate losses 3. Consumers tend to integrate smaller losses with larger gains 4. Consumers tend to segregate small gains from large losses
  • 28. • Toyota did not have a presence in the luxury car segment, so it introduced a new line of cars under the Lexus brand
  • 29. • In case of packaged food products, nutritional facts are given on the packaging are standard for one serving. • But due to variations in the actual serving size offered, consumers are often left with incorrect information
  • 30. • Companies give innovative names to their products to create a perception of offering more value for money • Names such as Super Size, Jumbo, Whopper and Petite etc. create confusion in consumer‟s mind, which is then used by the companies to sell the products
  • 31. • In case of packaged food products, nutritional facts are given on the packaging are standard for one serving. • But due to variations in the actual serving size offered, consumers are often left with incorrect information
  • 32. • From the case study, we observe that when club members were given the same quantity of food under different serving labels, Medium and Large, the ones who had Medium labelled meals ate more
  • 33. • Instead of offering a small, medium or large serving, Starbucks has named its drinks as Tall, Grande and Venti • Can be taken up as an example of good branding • It fits into Starbucks selling itself as a lifestyle brand • Naming caters to a sense of luxury. For e.g. having a Grande Latte Half-Caf is more glamorous than a having just a Regular Decaf coffee
  • 34.  False health benefit claims by Pom Wonderful that taking in pomegranate juice reduces the risk of cancer. Product pushers have inflated the medical benefits of their products to woo the self-conscious . For instance, here are three recent examples of egregiously misleading health and fitness ads.  Reebok's EasyTone Shoes: Reebok ran a series of ads on its easy tone and RunTone shoes featuring lithe and toned models professing the benefits of the footwear's special toning soles. It claimed that the muscles would be toned upto 11 percent more than when you wear regular sneakers. The LA Times reported that an FTC investigation found the only thing that EasyTone shoes actually did was make it uncomfortable to walk. As a result, Reebok was forced to refund more than $25 million in purchases
  • 35.  Airborne Herbal Supplement: The result of a second grade teacher's research, the herbal supplement became a national phenomenon after it appeared to finally provide the cure/prevention for the common cold that science had yet to figure out.  Dannon Activia Yoghurt: In 2009, a federal judge found that Dannon's claims that a daily serving of Activia would relieve irregularity and help expedite the digestion process were totally unsubstantiated. It turned out the company had been charging a 30% premium on the "probiotic" yogurts over other brands when in reality the contents in the cups were all the same.
  • 36. Looking at the amount of misleading advertisements that pervade modern media, consumers should be wary any time they hear that a product is "scientifically proven" to work. Unless the advertiser specifically states that its claims have been validated by the FDA, there's no reason to trust any purported medical benefits of any piece of merchandise, whether it's shoes or cold medicine. Often, these health and fitness products are just modern interpretations of the snake oil that bankrupted early settlers in the Wild West.

×