Answer to Question #206564 in Management for GOG

Question

SUBJECT : CONSUMER BEHAVIOUR

"Due to varied demographic and socio-economic profile of Indian consumer" , explain in detail in points with elaboration , how it influences the product decision making of a firm ?

Answer 1

1) Demographic profile helps in understanding the behavior Indian consumers by considering variables such as sex, income, age, education, mobility and marital status. The Indian consumers in different income brackets buy different types of products in different quantities, making them to shop for these products in different ways therefore, the income is an important variable used to define a targeted group of consumers where some shops aim for higher income consumers while others appeals to lower or middle income consumers.

2) Occupation is the variable used in defining the social economic profile of the Indian consumers. Consumers with similar social economic profile exhibit similar purchasing consumers' behavior. For instance, wealthy Indian consumers have the ability to purchase more consumer goods with higher quality than those with less income.