BBA/B.Com Consumer Behaviour Dec 2024

Description

Consumer Behaviour

December 2024 Examination

 

 

1. What are the expectations of consumers from products for example smart phones? From an example of your experiences how do you decide which smartphone is to be purchased and what are the parameters that the customer decides when he/she purchases his new smartphones? (10 Marks)

Ans 1.

Introduction

Consumer behavior plays a critical role in understanding how individuals decide to purchase products, such as smartphones. With technological advancements and changing lifestyles, smartphones have become essential tools for communication, work, entertainment, and social interaction. As a result, consumer expectations from smartphones have expanded beyond basic functionality to include factors like design, performance, brand reputation, and affordability.

When purchasing a smartphone, buyers often consider both tangible and intangible factors that align with their personal and professional needs. This decision-making process is influenced by social, cultural, and

 

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2. Let us assume that there is a new deodorant going to be launched in the market? The customer is given an option to be a brand ambassador for that deodorant? What is the concept that I am thinking of in this case? (10 Marks)

Ans 2.

Introduction

In a competitive market, innovative marketing strategies are crucial for the successful launch of a new product, such as a deodorant. One such strategy is engaging customers as brand ambassadors, leveraging their influence to create a strong and authentic connection with the target audience. The concept behind this approach involves involving real users in the promotional process, fostering trust, relatability, and loyalty.

By inviting customers to be brand ambassadors, companies can harness the power of word-of-mouth marketing and social proof, which are often more persuasive than traditional advertising. This approach also establishes a personal touch, as customers feel valued and connected to the brand. Through

 

3. Case Study

Growing nuclear families powering premium FMCG purchases, says Kantar

With  nuclear  family  structures  in  Bharath  on  the  rise,  consumption  habits,  too,  are changing,  observes  a  report  by  Kantar.  The  report  notes  that  large  families  don’t necessarily buy larger packs. Additionally, home and hygiene items like floor and utensil cleaners, snacking, and beverages are more commonly opted for by nuclear households.

The report also highlights that the penetration of the premium segment is relatively higher in nuclear families. For instance, in washing powders, the penetration stands at 68 per cent for nuclear families, compared to 50 per cent in joint families. In tea, the penetration stands at 19 per cent in joint families and 38 per cent in nuclear families.

It is observed that joint families don’t necessarily prefer large packs for consumption, and the nuclearisation of families is also leading to the premiumisation trend in fast-moving consumer goods (FMCG).

“There are more households being created than there is growth in the population, and that is  fundamental  because  family  sizes  are  becoming  smaller,  and  nuclear  families  as  a phenomenon  are  growing,”  says  K  Ramakrishnan,  managing  director,  South  Asia,

Worldpanel Division at Kantar.

“In terms of affluence, there is no difference between a nuclear family and a joint family, and their overall consumption is also similar. However, when you consider consumption per capita, there is a difference. The data shows that nuclear families are slightly more oriented towards consumption and premium brands,” he says. Kantar also released its report  on  the most  chosen  in-home  and  out-of-home (OOH)  FMCG brands  based  on consumer reach point (CRP). Parle holds the top spot for a record 11th year in a row in the in-home segment, followed by Britannia, Amul, Clinic Plus, and Tata Consumer Products. Parle had a CRP score of 7,449 million.

CRP considers the actual purchase made by the consumers and the frequency at which these purchases are made in a year. They measure the mass appeal of the brand (reflected in penetration of the brand) and the feel towards the brand (reflected in the number of times it is  bought). In  the OOH segment,  Britannia took  the top  spot with  498  million CRP, followed by Haldiram’s, Cadbury, Balaji, and Parle. The top five brands are all in the snacking category. The report highlighted that in 2022, four new brands — Balaji, Lux, Sunsilk, and Nirma — joined the billion CRP club. Over the past five years, the number of brands in the billion CRP club has increased from 16 to 28.

The report also indicated that beverages were the fastest-growing category in 2022 compared to 2021, with a growth rate of 24 per cent.

Kantar also mentioned that more than half of the brands experienced growth in terms of CRP, with the highest number being in the food and beverage categories. Dairy brands have low penetration but higher frequency, resulting in more reach points. “Consumer choice is the ultimate strength test for a brand, and brand footprint has been a widely acclaimed ranking system to measure this for the past 10 years. As we have seen over the years, consumers are making increasing trips for purchases, and that adds to their options and, in turn, their choices. This is reflected in the constant increase in CRP we observe. As purchases for OOH consumption are on the rise and seem to have different choice triggers, we found it necessary to introduce a ranking specifically for these categories, where there is a significant OOH component,” says Ramakrishnan.

1. How are the consumption habits and patterns changing in families in Bharath today? What is CRP and how are consumers reactions towards brands? (5 marks)

Ans 3a.

Introduction

Consumption habits in Bharath are undergoing significant transformation due to the rise of nuclear families. Smaller households are leaning towards premium products, reflecting changes in their purchasing behavior. Home and hygiene products, snacking items, and beverages are increasingly favored, with nuclear families showing a higher penetration of premium brands compared to joint families. The concept of Consumer Reach Points (CRP) helps understand these changing

 

 

1. How is CRP changing in the Bharath scenario? What is Kantar’s report on the same kindly elaborate? (5 marks)

Ans 3b.

Introduction

Consumer Reach Points (CRP) is becoming increasingly relevant in Bharath’s FMCG market, highlighting the impact of changing family structures and consumer preferences. Kantar’s report provides valuable insights into CRP trends, showing how brands are adapting to shifts in consumption patterns, including the rise of out-of-home purchases and premiumization.

Concept and Application

CRP in Bharath reflects the