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A Study On Consumer Preference Towards Store Brands at Sangeetha Mobiles

The study examines consumer preferences towards store brands at Sangeetha Mobiles, highlighting the influence of personal tastes, cultural backgrounds, and social factors on purchasing decisions. It aims to align products with consumer expectations, identify market opportunities, and develop effective marketing strategies. The study also addresses limitations such as potential inaccuracies in participant responses and the fast-changing nature of consumer preferences.

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Vignesh Kumar
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118 views4 pages

A Study On Consumer Preference Towards Store Brands at Sangeetha Mobiles

The study examines consumer preferences towards store brands at Sangeetha Mobiles, highlighting the influence of personal tastes, cultural backgrounds, and social factors on purchasing decisions. It aims to align products with consumer expectations, identify market opportunities, and develop effective marketing strategies. The study also addresses limitations such as potential inaccuracies in participant responses and the fast-changing nature of consumer preferences.

Uploaded by

Vignesh Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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A study on consumer preference

towards store brands at Sangeetha


mobiles

Introduction
Consumer preference refers to the specific likes, dislikes, motivations,
and inclinations that influence an individual's purchasing decisions. It
encompasses the subjective determinants that guide consumers toward
particular products or services based on their personal tastes and
experiencesConsumer preferences play a pivotal role in shaping market
dynamics and influencing purchasing behavior. They are inherently
subjective, varying widely among individuals based on personal
experiences, cultural backgrounds, and social influences. This
subjectivity means that what appeals to one consumer may not resonate
with another, making it essential for businesses to segment their markets
effectively. At the core of consumer preferences is the concept of utility,
which refers to the satisfaction or pleasure derived from consuming
goods and services. Consumers aim to maximize their utility when
making choices, often weighing the benefits of different options against
their costs
The key impacts on consumer preference :

1. Influence on Purchasing Decisions: Consumer preferences directly


determine what products or services individuals choose to buy, significantly
impacting sales and market demand.
2. Brand Loyalty Development: Positive consumer preferences foster loyalty
towards specific brands, leading to repeat purchases and long-term customer
relationships.
3. Market Differentiation: Understanding consumer preferences allows
businesses to differentiate their offerings, helping them stand out in
competitive markets.
4. Pricing Strategies: Consumer preferences can influence how much customers
are willing to pay for products, affecting pricing strategies and profit margins.
5. Product Development: Insights into consumer preferences guide companies
in developing new products or improving existing ones to better meet
customer needs
Store brands, also known as private labels, refer to products that are exclusively
created, branded, and sold by a specific retailer under its own name. These products
are distinct from national or manufacturer brands and are often developed to
provide consumers with a more affordable alternative while maintaining comparable
quality standards. Retailers strategically design and market store brands to build
customer loyalty, differentiate themselves in the marketplace, and capture market
share typically dominated by national brands.

NEED OF THE STUDY :


 Aligns products with consumer expectations, boosting satisfaction.
 Targets marketing efforts more precisely based on preferences.
 Enables tailored strategies for different consumer groups.
 Fosters stronger loyalty through consistent alignment with preferences.
 Differentiates brands by creating unique value propositions.

SCOPE OF THE STUDY :


1. Understanding consumer needs to identify market opportunities and gaps.
2. Guiding the creation or enhancement of products that align with consumer
desires.
3. Exploring the factors influencing how consumers make purchasing decisions.
4. Tracking shifts in consumer preferences to adapt to changing market
dynamics.
5. Analyzing how cultural differences affect consumer preferences across
various demographics.
Objective of the study :

1. To monitor and respond to changing consumer preferences and trends in the


marketplace.
2. To identify and analyze the specific needs and preferences of consumers
regarding products and services.
3. To forecast consumer purchasing decisions based on their preferences and
influencing factors.
4. To develop effective marketing strategies that align with consumer
preferences, enhancing engagement and conversion rates.
5. To improve the overall customer journey by understanding preferences at
various touchpoints.
6. To determine how consumer preferences affect their sensitivity to pricing
changes and perceived value.
7. To create strategies aimed at retaining customers by aligning offerings with
evolving consumer preferences.
LIMITATIONS OF THE STUDY :
 The research process can be time-consuming, delaying decision-making and
responses to market changes.
 Research may focus on specific aspects, overlooking broader market trends or
external factors.
 Participants may provide inaccurate or socially desirable answers,
compromising data reliability.
 Comprehensive studies can be expensive, posing challenges for small
businesses with limited resources.
 Consumers may struggle to clearly express their preferences and motivations.
 Consumer preferences can shift quickly, making research findings outdated.
 Privacy issues can deter participation, limiting sample size and diversity.

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