| Topic : The Changing Face of Consumer Expectations |
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Activity:
Question posted: 05 26 2008 23:09:49 +0000,
5 answers, 2369 views, last activity
07 06 2010 20:18:08 +0000
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Consumer behavior is changing all round the globe, it's applicable for India too. Businesses are going Global, so kindly share your views about the changing consumer behavior and its impact on Global Businesses.....
To answer your question in one phrase, " the only thing constant in this World is change"
Consumer Behaviour will change world over and more so in developing countries like India where social behaviour and literacy levels too are changing. As people migrate from the villages to the cities in search of employment, so too will their buying patterns albeit slowly. Plus the above factors mentioned by sheetal also will contribute to change.
For global business to grow, consumer behaviour has to change. It is a positive sign and only those companies that constantly offer something different to their consumers will survive in this rat race. The age old beleif of knowing your target segment is passe. Today knowing your consumers on a daily basis is needed more so that companies will increasingly feel the need for appointing a behavioural analyst.
Unfortunately only very few % companies are registered in Internet in india..So seaching over internet will not give good ultimate result.
In india,more than 40% people are Middle class/Youngters who is spending money and consuming more..10% upper class will get along with them..
If some products attracts this middle class segment,diffenately win!!!!!!
Yes
india is not what inda was, the impact of westernization as well as globalization is completly effecting its culture and businness too, so the views of consumer is changing gradually .
none of the area is untouched from strokes of globalization either culture,trends ,mass-communication.
the real impact comes in the form of wall/dalal street. big shopping malls and multiplexes/apartments etc.
yes, the Indian consumer now days is trying to imtiate the western consumer.
Before talking about the Indian consumer, we need to take a step back , and evaluate how the social structure has changed in India.
Changing social structure - with a strong unidirectional movement from rural areas to urban India, joint families breaking into segments like Double Income No Kid, Single Income No Kid, Double Income One Kid, live together, our needs & aspirations have taken a big shift.
we no longer tend to discuss with family members, on pre-purchase assessments. we rely on sources like internet, tele-marketing, point of sales promotion etc.
the Urban India is fast becoming a individualist dominating set up, and hence our choices & needs.
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