Demand for consumer durables in rural
Consumer electronics firms are quite eager to grab a share of this pie.
Table —2 Distribution of need feeling time of respondents Revenue Division Avg. This study has selected six Villages from Guntur, Narasaraopet and Tenali revenue divisions in Guntur district.
Consumer durables industry in india 2019
The consumer durables sector is characterized by the emergence of MNCs, exchange offers, discounts and stiff competition in the market to attract the growing middle class.. Share Via Topics. What is expected from the future is mostly growth and innovation. To identify the role of various socio-economic, cultural and psychological factors that influences the purchasing pattern of rural consumers; 4. Guntur is one of the Major districts, in which majority of people are living in rural areas. This study aims to enquire: 1. Streaming video is changing every existing relationship in the TV value chain, redefining the role of TV from the traditional ecosystem.
Collecting feedback among the products after using the products in terms of price, durability, service, and satisfaction. The consumer durable sector which contributes around 8 per cent in the Index of Industrial Production IIP and which provides jobs to professionals, skilled, semi skilled and unskilled workers, particularly women in the rural and semi-urban areas every year.
Sale of a particular product is determined by the cost of credit as much as the flexibility of the scheme. But if their responses are taken on face value, it may be inferred that the products they purchase are standard ones, and the shops they visit are dependable since they take much time in information search, it is of no use investing shops before purchasing.
The demand scenario also poses a challenge for the ruling National Democratic Alliance, which is vying for a second consecutive term at the centre, rejecting reports of a slowdown in economic activity and job creation.
Here in most cases head of a family performs this activity. Secondary data can be gathered from various sources.
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Tapping this yet untapped and unorganized market is a major challenge for the Indian consumer durables sector. Table — 4 Statement of importance assigned to different sources of information Revenue Division Avg. V, showcase displays, word-of-months, earlier experience, and salesmen of a brand. The Invest India Incomes and Savings Survey Rural India Consumer durables Economy and Politics Indicators Demand for consumer durables is trickling down to the small towns of rural India, even villages with a population of around 20,, although the companies selling these products face several challenges in reaching these markets and establishing retail outlets there. Given the strong correlation between demand for durables both new and replacements and income, the industry naturally suffered during the period. However, the fact remains that the profile of the Indian market is vastly different from what it was earlier. These and allied questions call for scientific enquiry to find out the prospects of rural consumer behaviour towards durable goods.
Just about every household will contain at least a few items that may be properly considered to be of a consumer durable nature. To capture durable market share, the organizations has to consider the pull strategy and push strategies in rural market.
Consequently, companies have little choice besides spending heavily in innovations and launching new products or existing products with new features at regular intervals throughout the year. Develop entirely new products for rural markets. P — India Abstract: The world of today is changing fast.
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At the time of selecting the samples I have taken into consideration all socio—economic conditions as per my selected study area concerned. As rapid socio-economic changes sweep across India, the country is witnessing the creation of many new markets and a further expansion of the existing ones. It depends on their economic status. They add that basic and mid-priced models are more in demand in the rural markets since most of the consumers are buying durables for the first time. Pre-purchase visits to shops are required for information search. References 1. Among them Changing lifestyle, higher disposable income coupled with greater affordability and a surge in advertising has been instrumental in bringing about a sea change in the consumer behavior pattern. Dogra, B. Actual practices in this regard reveled from this study are stated in the above table.
based on 26 review