Consumer Attitudes towards Business Firms’ Marketing Philosophy, Consumerism and Government Regulations in India: A Cross-sectional Analysis

Abstract

The Indian marketplace has undergone significant changes since the time reforms were introduced in the country in the early 1990s. As against the era of shortages and limited product choice, the market in virtually all the product categories is currently cramped with a plethora of product variants and multiple brands. Consumerism is on the rise as is the case with the government interventions in the marketplace. Consumerism life cycle theory predicts consumers at more advanced stages of market development to be holding a positive view of the business firms’ marketing philosophy, reduced need for consumerism and government regulations with developments in the marketplace. In view of a lack of empirical database in the country in this respect, the present study seeks to ascertain empirically the nature and extent of consumers’ attitudes towards business firms’ marketing philosophy and need for a consumerism movement and government regulations in protecting consumer interests in the country.