A Discriminant Analysis of The Psychological Factors Influencing The Buyer Behaviour In The Car Market In India -An Empirical Study

International Journal of Economics and Management Studies

© 2019 by SSRG - IJEMS Journal

Volume 6 Issue 12

Year of Publication : 2019

Authors : Dr B. Rameshwaran

10.14445/23939125/IJEMS-V6I12P118

How to Cite?

Dr B. Rameshwaran, "A Discriminant Analysis of The Psychological Factors Influencing The Buyer Behaviour In The Car Market In India -An Empirical Study," SSRG International Journal of Economics and Management Studies, vol. 6,  no. 12, pp. 157-166, 2019. Crossref, https://doi.org/10.14445/23939125/IJEMS-V6I12P118

Abstract:

This article examines various discriminant functions which will best discriminate between the urban and rural consumers with respect to the psychological factors influencing the buyer behavior in the car market in India. The paper further highlights the importance of various promotional tools in the purchase of cars in India. The car market in India is one of the largest segments of the domestic auto industry. From a luxury product for the urban middle class in the eighties and earlier, a car has now become not only the favorite mode of personal transport but also the most coveted
personal household durable possession among nearly all consumer classes. The leading vehicle in the commercial vehicle segment is the stylish, fuel-efficient and sturdy 4-stroke car, the purchase of which is influenced by various psychological factors like motivation, perception, learning, beliefs and attitudes. A descriptive research using stratified random sampling method was undertaken and the study was conducted using both primary and secondary data. It was concluded that the “Beliefs and Attitudes” factor was the most effective psychological factor in discriminating among the urban consumers and „Motivation‟ factor was the most effective psychological factor in discriminating among the rural consumers in the choice of a car brand.

Keywords:

Car, Psychological factor, Rural area, Urban area, Discriminant analysis.

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