A STUDY OF EXPLORATORY BUYING BEHAVIOR TENDENCIES IN FMCG SECTOR
Globalization is a boon both to producers and consumers. Companies, indeed, owe to it for their sprawling businesses as consumers are being served with assorted platter of goods and service every fortnight. Consumers are being provided with increasing amount of decision-relevant information in their purchasing environment. Consumer Behavior is a very wide area in the field of Marketing and an ever evolving concept. Human being is unpredictable in nature hence difficult to predict behavior of consumers. Variety seeking is one of the most common psychological heuristics where consumers make decisions. Yet little is known about the effects of information, which also significantly influences consumers’ choices of behavior. This study will highlight role of Information seeking behavior, product acquisition behavior and variety seeking behavior in Fast-moving consumer goods (FMCG) sector. The exploratory behavior of consumers involves product acquisition and information seeking which occurs as a response to stimuli from the environment. The paper also determines the effect of demographic variables on the exploratory behavior of consumers. Data has been collected from 263 respondents and for data analysis normality test, reliability test, t-test and one way ANOVA has been used.
Keywords:Variety seeking behavior, Product acquisition behavior, Information seeking behavior, Exploratory behavior
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