Characteristics Of Consumer India 1h14e

Characteristics of consumer India : Characteristics of consumer India By Vinay Wadhokar A Shift From Need Based To Want Based Consumer…….. Things are changing : Things are changing Attitude shift towards consumerism Age structure of population Disposable income Education level Gender bias From Traditional to Modernised traditional… Indian consumer is getting more materialistic : Indian consumer is getting more materialistic Almost 50% of Indian urban population had adopted work hard and get rich policy by 1996 and another 9% had done so by 2006 Gallop Survey: Indians are more motivated than ever by personal ambition and a desire for material success with an average work-week of 50 hours. India is the hardest working nation globally. Expected Utility from Products/ Services : Expected Utility from Products/ Services From Functional to Lifestyle Consumerism: A way of life : Consumerism: A way of life Indians desire to set money aside for electronics and durables. Here and Now attitude increasing Travel and entertainment Trend applicable to 15 to 55 age group All pervasive-urban and rural . 1600% growth in usage of mobile phones….3million subscribers a month….. Advt of designer jewellery , LCD, watches….. BPO - first time market entrants Comfort with borrowing to fund future consumption : Comfort with borrowing to fund future consumption Being in debt is no more a discomfort EMI is legitimizing borrowing, making indebtness more acceptable. 60% salaries in EMI EMI makes a lot of sense in borrowing Foreign is é ;India is paramount : Foreign is é ;India is paramount Made in India has got more credibility Faith in domestic companies have grown up Consumer wants products that are made for Indian needs E.g.: Nokia 1100 ,sunsilk shikakai version Among 20 most respected brands in India 8 are Indian. “Indianizing” has to do with price levels as well Lifebuoy Eating habits : Eating habits From traditional meals to Indianized “McDonalds” The rise of Women : The rise of Women I can and I will!! Influencing to Decisive role in buying decision More eating out , more phone calls Women are changing and reorganizing their household chores Onion paste, ginger paste,etc… Ready to eat food Comfort level with Technology : Comfort level with Technology InfoTech awareness InfoTech driven employment opportunities Mushrooming of call centers E-choupal Cyber grandma and grandpa!! Washing machines with fuzzy logic….and much more Some more characteristics… : Some more characteristics… High degree of value orientation. Most discerning consumers in the world-Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market. High degree of family orientation- extends to the extended family and friends as well. Brands with identities that family values tend to be popular and accepted easily in the Indian market. Some more characteristics… : Some more characteristics… Associated with values of nurturing, care and affection. which communicate feelings and emotions gel with the Indian consumers. Apart from psychology and economics, the role of history and tradition in shaping the Indian consumer behavior is quite unique. For example, hair oils and tooth powder existing with shampoos and toothpaste.