A CONSUMER DECISION
Nitesh Singh Pundir
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Table of Contents
Objective of the study
Limitations of the Study
Findings and Suggestions
Scope of further research
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The growing middle class population of India and the paucity of reliable public transport system is leading to a large number of vehicles added to the roads every day. Demand in Automobile, FMCG and retail is growing at a faster pace than anticipated due to rise in its consumption patterns which is creating demand and margins for Indian Inc. India is the second largest producer of two-wheelers in the world. In the last few years, the Indian two-wheeler industry has seen spectacular growth. The country stands next to China and Japan in terms of production and sales respectively.
The present scenario of especially decision making process of purchasing vehicles, and its importance, current trends are highlighted. In this article study for the demand of vehicles and influencing factors like family, friends, dealers, service and mileage for the process of purchasing vehicles is done.
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Automobile industry is one of the fastest growing industries of the world. With more than 2 million new automobiles rolling out each year, on roads of India, the industry is set to grow further. Automobile industry made its silent entry in India in the nineteenth century. Since the launch of the first car in 1897, India automobile industry has come a long way. Today India is the largest three wheeler market in the world and is expected to take over China as the second largest automobile Industry in the coming year.
Indian automobile industry; manufacturing cars, buses, three wheelers, two wheelers, commercial vehicles, heavy vehicles, provides employment to a large number of workforce. The abolition of license raj in 1991opened the doors for international automobile manufacturers. A number of leading global automotive companies entered into joint ventures with domestic manufacturers of India and thus started the large-scale production of automobiles in India. Some of the well-known players of Indian automobile industry include: Hindustan Motors, Maruti Udyog, Fiat India Private Ltd, Ford India Ltd., General Motors India Pvt. Ltd, Toyota Kirloskar Motor Ltd among others. The production of automobiles in India is mainly for the domestic customers. Cars with 79% of automobiles in India, dominate the automobile industry in India. The Indian Automobile Industry is manufacturing over 11 million vehicles and exporting about 1.5 million every year. The dominant products of the industry are two wheelers with a market share of over 75% and passenger cars with a market share of about 16%. Commercial vehicles and three wheelers share about 9% of the market between them. About 91% of the vehicles sold are used by households and only about 9% for commercial purposes. The industry has attained a turnover of more than USD 35 billion and provides direct and indirect employment to over 13 million people. Some facts on Automobile industry in India:
India has the fourth largest car market in the world
India has the largest three wheeler market in India
India is the second largest producer of two wheelers in the world
India ranks fifth in the production of commercial vehicles.
Hyundai Motors ranks second in car production in the world.
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Consumer Decision Making Process:
“Consumer behaviour describes how consumers make purchase decisions and how they use and dispose of the purchase goods or services” therefore we can understand the importance of consumer behaviour...
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