Analysis of the consumers opinion about the various brands of petroleum

This study develops and empirically tests a model for determining the determinants and effects of consumer's opinion for the various brands of petroleum. Towards the same, the Howard-Sheth model of Buyer Behaviour (Howard and Sheth, 1969) was expanded and combined with the Theory of Brand Loyalty model developed by Jagdish N.Sheth and C.

Whan Park (1991). The determinants of consumer's opinion were thought to affect overall attitude towards a fuel brand, which in turn affected the final brand choice made by the Consumers. The effect that eight selected determinants had on attitude formation was examined. The fuel filling station intercept survey was conducted to collect respondent data across 15 zones throughout Chennai City. A total of 302 consumers comprising of 151 two wheeler users and 151 four wheeler users were contacted. 200 valid responses comprising of 100 two wheeler users and 100 four wheeler users were received. Structural Equation Model was used as the tool for analysis.

The results showed that:

• Of the eight determinants considered, some had a very strong impact on Attitude Formation because they positively impacted the dimension considered for the study i.e. opinion about a brand of fuel

• However, contrary to what many previous studies reported, foreign brands and promotions done by Oil Marketing Companies did not impact opinions about fuel brands for such consumers.

• Experience and word-of-mouth is a better determinant of Brand opinions, repeat purchase and patronage of a fuel filling station.

The different results obtained in this study vis-à-vis those from earlier studies suggest that the experience of using a particular brand of fuel and the trust in terms of getting the right quality and quantity at a particular fuel filling station mediates the effect of marketing efforts by Oil Marketing Companies. Again since each of the determinants of Attitude formation under this study was found to positively impact opinions about Buyer Behaviour fuel brands, it has been posited that the probability of the consumers Brand Choice choosing the final brand is increased with an increase in trust quotient of Fuel Brandthe fuel filling station. Geographical limitation of the sample and absence of Conspicuous quality differences among the various brands of fuel were identified as some of the key limitations of the study.