BUS602: Marketing Management

The key findings emerged out of the present study are;

• Necessity tops the list of reasons, as responded by 75.33% of the sample respondents, for purchase of the selected durables.
  
• Comfort and convenience becomes the second most important cause for making such purchases, revealing 42.66%, followed by social status (33.33%), time saving (32%), maintenance of autonomy (28%), increasing assets (26.66%), gaining knowledge (25.33%) and avoiding unnecessary expenditure (25.33%).
  
• Personal savings are the prime sources for purchase of all the selected durables.
  
• Highest percentage of respondents responded positively against the source, 'personal savings' for their purchases of the durables i.e. 96% for buying Television, 88.66% for buying Furniture, 88% for buying both the Refrigerator and Washing Machine and 75.33% for buying Four-Wheeler.
  
• About 48% respondents have consented that they have purchased Four-wheelers on installment basis whereas the source of ‘borrowed money' appears to be mute in making such purchases.
• Previous experience is the most inducing factor, especially while making brand preferences for purchase of television, refrigerator and furniture which ranks first comparatively.
  
• In purchase of Washing machine and Four-wheeler, advertisement factor has the greatest influence among the buyers.
  
• The retailers' recommendation in purchase of television, refrigerator, washing machine, and furniture is the least stimulating factor; rather it does not induce the buyers at all while making brand preferences in such purchases.