Antecedents of Extensive Decision Making Among Passenger Car Segment: Study of a Metro City in India
Posted: 7 Aug 2017
Date Written: July 16, 2017
Abstract
The Indian auto industry is one of the largest in the world. The industry accounts for 7.1 per cent of the country's Gross Domestic Product (GDP). As of FY 2014-15, around 31 per cent of small cars sold globally are manufactured in India (IBEF, 2016). At 7.64% YoY growth, India fastest growing passenger car market in world. This growth is fuelled by positive customer sentiment in cities. The present Research work is an effort to study the factors influencing purchasing of passenger car among car owners in Mumbai. The data collected has been systematically analyzed by using descriptive statistics.
A systematic random sampling from seven residential areas of Mumbai was done to select 204 car owners. An investigator-constructed questionnaire was used to collect data on these factors. The data analysis was done to describe the nature of the sample. It is found that e-commerce along with friends, family and relatives have been found to act as a significant source of information, and influence the passenger car buying. Also, Price, word of mouth and after-sale service amongst other factors such as promotional offers, fuel efficiency, brand name, technical aspect, etc. in the passenger cars are found to be of foremost importance before making a purchase by the customers Marketers can use the combination of relevant factors as an effective tool for selling their products.
Keywords: Decision Making Process, passenger car segment, Consumer buying behavior
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