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Consumer buying behavior is the summation of consumer's attitudes, preferences,

intentions, and decisions regarding the purchase of a product or service.

1. Need recognition – The buying process begins with need recognition. This
recognition happens when there is a gap between the consumers’ actual situation and
the desired one. I found the need for a car with more room to fit more than two
passengers. Also, the ability to be able to travel to my work by car in 20 minutes every
morning (ideal situation) rather than lose two hours using public transport (actual
situation) is something that means a lot to me. So, the obvious need arises for the
purchase of a car with good fuel efficiency, good after-sales service, safety, comfort and
more internal space.

2. Information Search: Information search can be undertaken from various sources

such as friends and family, magazines and media, respective company sites,
carwale.com, Zig wheels, test drives. Also, online reviews from both experts and
owners on sites like on Edmunds.com, Cardekho.com, and Carwale.com. While
experts can give me a professional outlook on the vehicle and its features, a review
from an owner may give me a more realistic outlook on how the car runs on a day-to-
day basis. An entire body of review will provide a reliable product assessment – from
the people who have actually purchased and experienced the product.
3. Evaluation of Alternatives: Once the information search is complete, I will evaluate
a number of options to determine the best purchase of a car. Based on parameters like
performance, fuel efficiency, design, and price, I will evaluate cars like Ford Figo,
Chevrolet Beat, and Renault Kwid. Also comfort, features like touchscreen infotainment
system with good quality speakers and tweeters, steering-mounted audio controls,
electrically adjustable wing mirrors and reverse camera. Also, I will take into
consideration other standard safety features like central locking system, child safety
lock, power window, anti-lock breaking system and dual air-bags. The cars can be rated
from one to ten on all the above attributes.

Purchase Decision

Once I have evaluated the different options available, I will opt for the car that has the
highest rating for each attribute. However, before I make any decision, two more factors
will play a crucial role. If my peers have a negative feeling regarding some features of
the car I’ve opted, I may not buy it. Secondly, unexpected situational factors like too
many breakdowns or engine burst outs being reported will keep me hesitant to buy that
car.

5. Post Purchase behavior

The last stage within the decision making process, is the post-purchase behavior. If all
the attributes that influence my buying decision, I will write a good review making it easy
for others to opt for a similar product. In case of dissatisfaction, I will demand for
replacement or regular after-sales service promised by the company. A monthly
maintenance at an authorized workshop would keep me satisfied with the after-sales
service.

Hence, we can conclude that the buying decision process to purchase my personal car
involves a number of complex decisions. On the other hand, if I don’t perceive a need
for a car, I may not buy it. Also, advertising campaigns may be launched by marketers
to trigger a need.
2. Market segmentation is the process of dividing the market of potential customers into
different groups based on variables like age, gender, income, nations, lifestyle,
personality, occasions, benefits, user-status and loyalty status. It is a convenient way for
marketers to cut costs and boost their conversions.

Segmentation makes way for knowing the unique needs of audience and formulating
the submixes in such a way that an optimal development of marketing resources is
made possible.

In the above case, since Furnideas has a global presence and sells to all the income
groups in different countries, it has used the geographic segmentation as well as the
income segmentation. Since, the company wishes to enter the Indian market, they can
divide the market into income and geographical segments as explained below. Most
potential customers in India are in the low to medium income range.

Income Segmentation:

Furnideas can base their store strategy around attracting young, lower and middle
income individuals. India has a huge population of college students and young adults.
Since they are buying their furniture for the first time, they are just looking for good,
cheap furniture that will work for the time being. Also, since they are unsure about their
futures, Furnideas can also come up with the concept of making the furniture available
on lower rents. For youngsters moving around metro in cities for work or studies,
availability of furniture on rent eases the burden of too much spending. For young
bachelors sharing apartments on rental basis with two or three friends, everyone can
chip in the rent for furniture and once they move out separately, they can return the
furniture to the company in good condition. They usually spend more time out of their
homes and have contemporary furniture which is practical, functional and in the lower
price bracket. Hence, Furnideas can target the young lower income individuals having a
small office corner in their living or bedroom in major metro cities like Mumbai, Delhi,
Bangalore and Kolkata.

The growing middle-class income consumers competes for living space in mega cities
and the customers in this category do not move out frequently as they prefer to settle in
one place. However, they do not spend heavily and prefer to rent or opt for furniture
exchanging schemes.
An Indian home is usually made up of three rooms including (kitchen and
bathroom). While 25% of the population lives in home with more than 5 rooms,
58% population lives in houses with fewer than 3 rooms and 16% fall in the
category of 1BHK.

Higher Income Group:

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