WHAT MAKES YOU CONFIDENT ABOUT THE PRODUCT YOU USE?

'PRODUCT PREFERENCES' THAT BONDS CONSUMER TO PRODUCT

INSIDE THE CONSUMER'S MIND
There is a silent calculation that goes inside a consumer's mind while making the selection about the product/s before passing the preference criteria of the end-user. And trust us, the customer isn't going to change his chosen product easily until he/she has experienced the ill effects of using it. That’s the sentiment that develops between consumer-product that all product-based companies aspire to attain.

WHAT ARE THE 'PRODUCT PREFERENCES OF THE CONSUMERS?

To know the answer, one needs to know about the population composition of the consumers in India. Like the culture, India exhibits a diversified population comprising different sets of consumers that exhibit variations when it comes to buying consumer products.

The Indian population comprises -

• Lower Middle-Class
• Middle Class
• Upper Middle Class
• Elite Class

Each population segment has its own tastes and product preference criteria. The reasons behind their interest in particular products/s may be many, but usually, the governing factors are based upon these points -

Economical

The first two population classes, the lower and middle classes, segregate products out of several products on the pricing factor. They have a pre-worked-out budget estimate beyond which they hardly cross, and their product-buying transacts between a fixed economy bracket. The products that are bought by these two classes in India constitute a significant portion of the consumer market, and the producers of the products generally focus to keep their product pricing between the economical price width that suits the pocket of the lower and middle classes. Hence, product pricing is the major determinant that drives product sales and consumption in India.

Performance

Keeping the pricing factor in mind, the other vital aspect that holds the potential to shift consumers' buying behavior is Product Performance. This parameter is demanded by the classes, from lower to elite class of the Indian population and there are no alternatives to it. The expectations are the same about the product's quality whether the product is within the economical range or is priced higher. The lower, middle, and upper classes expect products to deliver results and the same expectation is from the elite class. Hence, irrespective of the Product Pricing, the consumer products are to deliver quality without any compromises.

Availability

Be it any product, the Indian population, before buying a product, always enquire about the continuity factor. Their mindset has this third checkpoint, the 'Product Availability' query for the products they intend to buy. You are sure to be surprised if you run an analysis to understand a consumer's mind before they buy a product. Even if the product is within their set budget and is of quality, they might not buy it, if their availability is doubtful. For Indian consumers, buying a product even one time is a loss-making deal if the option of a second buying is uncertain. Even time is money for them as they don't wish to spend locating the product which they used only one time before. Hence, product availability is indeed a critical parameter that impacts the sale of consumer products in India.

Conclusion

The economical Factor, Performance Factor, and Availability Factor are the three judging pillars that each product passes through before making it to the consumer's basket. Since communication channels operate widely, awareness isn't a wall, therefore the product-based companies shoulder the responsibility of providing catering to the products as per consumer demand, taste, and quality.

 

Featured Writer - Amit Rao

Google News Publication