A study on consumer behavior and preference in passenger car market - Andhra Pradesh

Consumer preferences combined with their budget culminates into final purchase which the automobile industries need to tap. The paper evaluates a Engel-Coleman-Blackwell model through which consumer preferences can be determined which is a four stage process of Input, Information, Decision process and variable Influencing. In the next segment, methods of estimating consumer preference is discussed including survey and its limitation as well as Revealed Consumer preference which gauges the preferences in retrospect after the choice has been made. Using the latter, the paper analyses the consumer preference in Electric car segment, technological innovation, high priced small car segment, diesel-petrol preference and body style. The paper concludes by stressing on the enumeration of consumer preference for successful decisions on product designs, branding and distribution and focus on predicting it to an extent with the consumer research activity which is indispensable to satisfy the consumers in the long run.