Consumer Behaviour: Psychology of Marketing

This study on Indian consumer behavior is aimed at helping businessmen to get a better understanding of the Indian market place thus enabling them to embark on selected strategies to effectively reach the Indian consumers. The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world. Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market.

Indian consumers have a high degree of family orientation. This orientation in fact, extends to the extended family and friends as well. Brands with identities that support family values tend to be popular and accepted easily in the Indian market. Indian consumers are also associated with values of nurturing, care and affection. These values are far more dominant that values of ambition and achievement. Product which communicate feelings and emotions gel with the Indian consumers.

Apart from psychology and economics, the role of history and tradition in shaping the Indian consumer behavior is quite unique. Perhaps, only in India, one sees traditional products along side modern products. For example, hair oils and tooth powder existing with shampoos and toothpaste. The Indian market, one of the most promising in the world, is fast evolving. So is the Indian consumer, across all socioeconomic strata, regions and town classes. Rising incomes, multiple income households, exposure to international lifestyles and media, easier financial credit and an upbeat economy are enhancing aspirations and consumption. In these fast changing times, it becomes imperative for companies reaching out to the Indian market, to catch the pulse of the Indian consumer.