Seybold Report ISSN: 1533-9211
Muneerahamad Hunagund, Dr. Rajesh Sharma
Vol 18, No 3 ( 2023 ) | Licensing: CC 4.0 | Pg no: 292-300 | Published on: 30-03-2023
Abstract
With an emphasis on Andhra Pradesh specifically, this study explores the dynamic relationship that exists between pricing strategies and customer behaviour in the fast-moving consumer goods (FMCG) industry. Through the use of a cross-sectional design, the study seeks to offer thorough insights into the various aspects influencing consumer decisions in this area. The study's methodology combines quantitative and qualitative methods, gathering information from a representative sample of 150 respondents through the use of a structured questionnaire. Representation across age groups, genders, income brackets, educational attainment, professions, and urban/rural areas is guaranteed through stratified random sampling. Furthermore, focus groups and in-depth interviews enhance the data by capturing complex customer viewpoints. A variety of statistical methods are used in data analysis, such as regression analysis, chi-square testing, descriptive statistics, and theme analysis for qualitative data. The study strictly complies with ethical requirements, including participant anonymity and informed consent. This study adds to the body of knowledge in academia and has applications for Andhra Pradesh's FMCG industry enterprises. The study provides useful insights for companies looking to optimise their strategies in an area with a variety of consumer dynamics by elucidating the intricate relationship between pricing policies and customer behaviour.
Keywords:
Brand Loyalty, Fast-Moving Consumer Goods (FMCG), Pricing Policies, Consumer Behaviour, Purchasing Decisions, Promotional Activities.