Factors Affecting the Selection of a Product (Focus on Rural Consumers of Madhya Pradesh)

Abstract

The rural India offers a tremendous market potential. Rural markets are the new markets, which are opening up for both durable and non-durable products. Companies that have expanded in these areas found that, they are able toward off competition, generate a new demand and in turn, increase their sales or profits. Long-term perspective of marketing planning with modern approach is essential for their future growth. The Indian rural market is a goldmine, which needs to be explored. Rural consumers behavior needs to be understood and products specially designed to suit the rural lifestyle. The academia and the industry have to come together and explore the opportunities that lie within the hinterland. The main objective of this study is to find out factors affecting product selection for consumer durables in rural areas of Madhya Pradesh and the results are tested through statistical tools like ANOVA and percentage basis and results indicate that brand is the main deciding factor of purchasing in rural areas of M.P.. The study also concluded that age and occupation does have significant influence on product selection. This study also focuses on the impact of demographical factors on product selection for consumer durables.

Keywords: Products Selection, Affecting Factors, Rural Consumers

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