Synopsis of Research Project

8/4/2019 Synopsis of Research Project

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Synopsis of research project

Study the influencing factors of buying decision of non-durable goods

Submitted to Submitted

by

Dr. A.S. Sapre

Akhil Nigudkar

IM-2k7-09

MBA(ms)

5yrs 9th sem


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Title

Study the influencing factors of buying decision of

non-durable goods

Introduction

Marketing is influenced by many of the social sciences, particularlypsychology, sociology , and economics. Anthropology andneuroscience are also small but growing influences. Market researchunderpins these activities. Through advertising, it is also related tomany of the creative arts. So it is clear that marketing concept inthe present scenario is consumer oriented. Marketing efforts aremainly for attracting the customers and satisfying theirexpectations The project is done in order to understand thefunctions and activities connected with marketing department. Thestudy includes identifying the purchase influencing factors of non-durable goods. it is clear that marketing concept in the presentscenario is consumer oriented. Marketing efforts are mainly forattracting the customers and satisfying their expectations. A

sincere effort is made to bring out the factors behind the consumerbuying decision of non-durable goods through the present study.Why do we need to learn about consumer buying behavior? The simple answeris that no longer can we take the customers for granted. Consumer buying

behavior determines how our consumers decide to buy our product and whatare the various factors responsible for this decision?

Objective of the study

1. To study the elements that influence consumer buyingdecision of non durable goods

2. To identify whether the price of the product have any impact

on the customer buying.

3. To know the influence of advertisement on the customerbuying behavior.


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4. To find out the association with brand name of the companyand the consumer buying behavior.

Scope of the study

The consumer or buyer is the person or group of persons, whodecide what to buywhen to buy and what not to by. In competitiveenvironment one cannot thrust aproduct on consumer. He has toproduce what is demanded or what can be demanded.

The marketing personnel study consumer behavior to find out whatcan be sold and what good s and services are likely to be rejected.Through the study he is motivated to buy or not to buy after studyof consumer behavior through market research or otherwisemanufacturer tries to find out how sales can be pushed of existing

products, what changes are required in existing products, whatchanges are required to get larger market share. The moreimportant 66more important function and purpose is to influencethe behavior of consumers through advertisements, incentives andother methods so that consumer behavior is studied buy marketingpersonnel to influence the behavior of consumers after studyingwhat factors decides the behavior for a particular product , persons,groups or regions.

HypothesisHo: There is no significant relationship between price of the productand customer buying decision.

Ho: There is no significant relationship between brand name of thecompany and customer buying decision.


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Ho: There is no significant relationship between companyadvertisements and customer buying decision

Ho: There is no significant relationship between family/friendsopinion and customer buying decision.

Materials and Methods1 .Primary Sources.2. Secondary Sources.3.questionarre4 samplesi.Sample of 30 respondents were obtained from the peopleii. Sampling Design random sampling is used in the study5. Tools and Techniques for Analysis-Correlation is used to test the hypothesis and draw inferences.6.location would be indore only

Literature review

It attempts to understand the buyer decision making process, bothindividually and in groups. It studies characteristics of individualcustomers such as demographics and behavioural variables in anattempt to understandpeople's wants.

Belch and Belch define customer behavior as 'the process andactivities peopleengage in when searching for, selecting, purchasing, using,evaluating, and disposing of products and services so as to satisfytheir needs and desires.

Consumer Buying Behavior refers to the buying behavior of

the ultimate consumer. A firm needs to analyze buying

behavior for:

Buyers reactions to a firms marketing strategy has agreat impact on the firms success.

The marketing concept stresses that a firm shouldcreate a Marketing Mix(MM) that satisfies (gives utilityto) customers, therefore need to analyze the what,where, when and how consumers buy.
http://www.udel.edu/alex/chapt1.html#mixhttp://www.udel.edu/alex/chapt1.html#mix


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Marketers can better predict how consumers willrespond to marketing strategies.

http://www.udel.edu/alex/chapt6.htmlhttp://www.usq.edu.au/course/material/mkt2001/consumer_behaviour.htm

http://www.marketing91.com/factors-affecting-consumer-buying-behavior/
http://www.udel.edu/alex/chapt6.htmlhttp://www.usq.edu.au/course/material/mkt2001/consumer_behaviour.htmhttp://www.marketing91.com/factors-affecting-consumer-buying-behavior/http://www.udel.edu/alex/chapt6.htmlhttp://www.usq.edu.au/course/material/mkt2001/consumer_behaviour.htmhttp://www.marketing91.com/factors-affecting-consumer-buying-behavior/

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Synopsis of Research Project