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Analyzing the consumer buying behavior in the premium readymade garments category in India
1. Analyzing the consumer buying
behavior in the premium readymade
garments category in India
Submitted by
Sarthik Chothani
FMS/BBA/2019-22/021
2. Introduction
◉ Textile industry in India widely and comprehensively
integrates a whole range of raw materials to finished
product that includes fiber manufacturing.
◉ Globalization has paved the way for India's business
community to enter into in the international market.
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3. Objectives
◉ Understanding the concepts of branding and consumer
behavior.
◉ To study the effect of brands on consumer buying
behavior about Readymade garments.
◉ To analyze the branding strategies adopted by some of
the companies in the readymade garments to woo the
consumers into buying their products.
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4. Methodology
Secondary Data
o Articles in Newspapers, Magazines and Internet
o Study Reports from Internet
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Primary Data
o Consumer Survey on the effect of
brands on their buying behavior.
Sample size
o Sample size is 70
o Conveniences sampling was used here.
13. Findings
◉ Fashion terminology is often used by consumers in
overlapping ways.
◉ Consumer behavior is relevant to the understanding of
the dynamics of popular culture.
◉ The Internet is transforming the way consumers interact
with companies and with each other.
◉ There are many perspectives on consumer behavior,
but research orientations can roughly be divided into
two approaches. (Positivist perspective & interpretive
perspective)
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14. Conclusion
◉ Brands do not compete in the product area but compete
for the mind space of the customer.
◉ Brands affect the consumer mind in many ways like
quality, rates, income, age groups, etc.
◉ Branding is about building consumer trust in an
organization's products. Globalization and
communication mediums are making a wider target
audience possible.
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15. 15
◉ People are switching from local products to branded products.
◉ They like to use branded products to show their status, power,
and wealth.
◉ Reference groups play an important role in choosing branded
products.
◉ People tend to become more loyal to specific brands.
◉ Companies are investing heavily in marketing campaigns that
can boost the value of their brand.
16. Suggestions
The company should study purchasing power, lifestyles, buying
habits, optimal usage level.
Marketers should study the role of children in buying decisions -
as influencers and decision-makers.
One solution is the joint distribution or by adopting direct
marketing.
Companies should identify the requirements and pack
commodities according to demand.
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17. 17
Marketers will require devoting to more efforts to understand the
customer view of quality and convenience.
As government withdraw entry barriers and relax the restriction
on merger or takeover many companies should install superior
technology and resort to merger - acquisition route to make their
unit more efficient
Marketers have to develop organizational structure style and
functioning which enable them to act fast and bring in innovations
in their marketing programs.