AN ANALYTICAL STUDY OF CONSUMER BEHAVIOR ABOUT PROMOTIONAL STRATEGY ADOPTED BY MARKETERS WITH SPECIAL REFERENCE TO ELECTRONICS DURABLE GOODS IN NAGPUR

Abstract

Today, consumer behavior is important concept in the market and there are many factors influence the consumer behavior such as economical, cultural, social, psychological and personal. In the market every company want to understand the need of the consumer and in current market situation companies are making problem solving product of consumer. Electronics durable goods are important part of consumer in their day to day life so it is necessary to research. Marketers can influence consumer behavior through promotional strategy. Promotional strategy includes social Media Promotion, mail order marketing, product sample, point of sale promotion, customer referral incentive program. Many companies are working in this sector and every companies having large investment. Electronic durable goods include refrigerators, air conditioners, computers, televisions, washing machines, cell phones and kitchen appliances etc. The need of this research paper is to know the link between promotional strategy and consumer behavior. So far past study concern many authors study about consumer behavior about different sectors so it is necessary to study consumer behavior about promotional strategy adopted by consumer electronics durable goods companies. In the current market situation consumer is totally aware about product features that means consumer watch promotional strategy of the company. Today our countries literacy level is good and after globalization many foreign companies are making rout in the Indian market thats why consumer getting so much attraction and importance. Companies are designing their product after studying consumers taste and preferences. In the marketer side many competitors are their include Bajaj Electricals Ltd., Blue Star Ltd., Crompton Greaves Consumer Electricals Ltd., Godrej and Boyce Consumer Electricals Ltd., IFB Industries Ltd., Johnson Controls-Hitachi Air Conditioning India Ltd. Philips India Ltd. Etc. So in this cut throat competition one who understand consumer is survive in the market.