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PAPER FOR PUBLICATION

PAPER TITLE: DECISION MAKING TO SPEND AVAILABLE RESOURCES ON CONSUMPTION RELATED ITEMS

AUTHOR: ABHILASHA SINGH Asst. PROFESSOR

HINDUSTAN INSTITUTE OF MANAGEMENT & COMPUTER STUDIES (SGI),FARAH ,MATHURA U.P. INDIA

e-mail: singhabhi_ss@rediffmail.com

CO-AUTHOR: RICHA KHANDELWAL Asst. Professor, &

RESEARCH SCHOLAR SINGHANIA UNIVERSITY RAJASTHAN,INDIA

CO-AUTHOR: MANOJ MISHRA Asst. Professor, &

RESEARCH SCHOLAR SINGHANIA UNIVERSITY

RAJASTHAN,INDIA

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DECISION MAKING TO SPEND AVAILABLE RESOURCES ON CONSUMPTION RELATED ITEMS

ABSTRACT

Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket.

Marketing starts with the needs of the customer and ends with his satisfaction. It starts with the buying of goods.

Management is the youngest of sciences and oldest of arts and consumer behavior in management is a very young discipline. Various scholars and academicians concentrated on it at a much later stage. It was during the 1950s, that marketing concept developed.

The study is about how customers make decisions to spend their available resources time, money, effort on consumption related items and specially during buying footwear. It includes the study of why they buy, when they buy it, how

often they buy it, and how often they use it.

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I. Introduction:

All of us are consumers. We consume things of daily use; we also consume and buy these products according to our needs, preferences and buying power. These can be Consumable goods, durable goods, specialty goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy or not to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poor societies, the consumer can barely meet his barest needs. The marketers therefore try to understand the needs of different consumers and having understood his different behaviors which require an in-depth study of their internal and external environment, they formulate their plans for marketing.
Consumer behavior in management is a very young discipline. Various scholars and academicians concentrated on it at a much later stage. It was during the 1950s, that marketing concept developed. Marketing starts with the needs of the customer and ends with his satisfaction. It starts with the buying of goods. Goods can be bought individually, or in groups. Goods can be bought under stress (to satisfy an immediate need), for comfort and luxury in small quantities or in bulk. For all this, exchange is required. This exchange is usually between the seller and the buyer. It can also be between consumers.
Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket.The study of consumer behavior is the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption related items. It includes the study of what they buy, why the buy, when the buy it, where they buy it, how often they buy it, and how often the use it. Take the simple product toothpaste. Consumer researchers what to know what types of toothpaste consumer buy 9Gel, regular, striped, in a
tube, with a pump); what brand (National, private brand, generic brand); why they buy it (to

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prevent cavities, to, to use as mouthwash, to attract romance); where they buy it (supermarket, drugstore, convenience store); how often they use it (when they wake up, after each mean when they go to bed or any combination thereof ); how often they buy it (weekly, biweekly, monthly).
Consider a more durable product such as the fax Machine. What kinds of consumer buy ax machine for home use. What features do they look for, what benefit do they seek, what types of documents do they fax and for what reasons. How likely are they to replace their old models when new models with added feature become available. The answers to these questions can be found through consumer research and can provide fax manufacturer important input for scheduling, design modification and promotional strategy.

Factors influence decision making:

Motivation

It is the internal feeling that makes the person to buy a certain product to satisfy a necessity. Freud, Maslow and herzbery talk about the motivation in the western context. Depending on the phases which a person is in different product are consumed to satisfy his or her needs and the needs can satisfy different motives. First people try to satisfy the basic needs like hunger, thirsty and shelter and then try to meet some higher order needs or self esteem.

Perception

Perception is the by meaningful picture of the world .Perception depends not only on the physical stimuli, but also on the stimuli relation to the surrounding field and on conditions within the individual. The key point is that perceptions can vary widely among individuals exposed to the same reality. One person might perceive a fast talking salesperson as aggressive as aggressive and insincere another intelligent and helpful l. Each will respond differently to the salesperson. In marketing peoples perception is more important than reality.

Learning and experience

The Knowledge or opinion that people have about a product can be influenced by the company with new information or free samples, the company can be manipulate the image of a product.

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They can use this when, they, want introduce a new production the market and also if they want to change the image or the concept of one existing brand.

Beliefs and attitudes

People can have a positive or negative feeling about the product. This feeling can be consequences of their personal experiences of because of their interaction with other people, marketers can use such beliefs and attitudes to their advantage by customizing their products according to the needs of the customer.
The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how
1) The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products);
2) The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media);
3) The behavior of consumers while shopping or making other marketing decisions;
4) Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;
5) How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and
6) How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.

OBJECTIVES:

The objectives of this particular study are to find out;

1) The basic ideas of the consumer which affects the Decision making of the customers.
2) Factors influencing customer to spend their time, money etc., on consumption related items ,specially footwear.

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RESEARCH METHODOLOGY

Descriptive research design only suits the requirements of such study. For the purpose, pretested detailed questionnaire were made. Questionnaire were administered personally on prospective and old buyers of the footwear of different kinds covered under the study, study area was selected on the random basis.
To carry out the present research 180 respondents were selected randomly on the basis of convenience and availability. While selecting the respondents utmost care has been taken to include all categories of the respondents from the areas taken into consideration. Published and unpublished matter available in govt. Records and books of learned author will be used along with the information acquired by field survey and interviews.
The prepared questionnaire was sent to five experts for their opinion. All the experts reported that the questionnaire is valid for getting the required information. Further item wise analysis has been done to attain the valid conclusions, for this factor analysis was carried out and thus final findings have been determined Reliability of the questionnaire was calculated by using the Sphereman Split half correlation method on 20 respondents (10 Male, 10 Female) and coefficient of correlation was obtained 0.7932 which shows the questionnaire is reliable.
Another method i.e. test retest method was also used and reliability coefficient found to be
0.8523 thus the questionnaire is reliable. These respondents were not included in the actual study.
Collected data after coding was analysed. For the purpose statistical tools such as arithmetic mean, SD, chi-square tests etc. were used as and where required. After analyzing the data collected results are presented in details and for the purpose results are presented in graphic and
tabular form also.

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DATA ANALYSIS AND INTERPRETATION:

Age in years

Respondents

No. %

20-25

105

58.33

25-30

45

25.00

30-35

30

16.67

Total

180

100.00

Table 1: Distribution of respondents according to age.

Mean 24.77
S.D. 4.19
Above table shows the distribution of respondents according to age. Highest no. of respondents 105 (58.33%) were found 20-25 years and minimum no. of respondents selected
were 30-35 years 30 (16.67%) and among respondents only 45 (25.00%) were 25-30 years.

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120

105

100

80

60 58.33

No.

%

45

40

30

25

20 16.67

0

20-25 25-30 30-35

Chart 1: Distribution of respondents according to age.

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Gender

Respondents

No. %

Male

129

71.67

Female

51

28.33

Total

180

100.00

Table 2: Distribution of respondents according to gender.

Above table shows the distribution of respondents according to gender. Highest no. of respondents 129 (71.67%) were found Male and minimum no. of respondents selected were
Female 51 (28.33%).

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140

129

120

100

80

71.67

60

51

No.

%

40

28.33

20

0

MALE FEMALE

Chart 2: Distribution of respondents according to gender.

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Statement

Gender

Weddin

g

Any

Social Gatherin g

Festiva

l

Wheneve

r I find a good one

Only

When existing one damage s

X2

df

P

What

forces to buy a new footwear

Male

43

19

16

25

26

3.793

4

>0.05

What

forces to buy a new footwear

Female

11

8

11

10

11

3.793

4

>0.05

Total

54

27

27

35

27

Table 3: showing What forces to buy a new footwear

Table shows the respondents opinion regarding what force them to buy a new footwear. Maximum number of male respondents 43 reported that they buy a new footwear because of (Opinion 1) Wedding, second largest number 26 reported that they only buy footwear (Opinion
5) Only when existing one damage while lowest 16 respondents reported that (Opinion 3) Festival, 25 respondents reported that they buy footwear (Opinion 4) Whenever I find a good one and 19 respondents reported that they buy footwear (Opinion 2) Any Social Gathering was another noticeable response.
Table shows the respondents opinion regarding what force them to buy a new footwear. Maximum number of female respondents 11 reported that they buy a new footwear because of (Opinion 1, 3 and 5) Wedding, Festival and Only when existing one damage, second largest number 10 reported that they only buy footwear (Opinion 4) Whenever I find a good one while lowest 8 respondents reported that (Opinion 2) Any Social Gathering.
Statistically, No significant difference in the opinion of male and female respondents observed regarding force to buy a new footwear was found.

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Statement

Gender

Comfort

Style

Durability

Quality

Economy

X2

df

p

key

attributes customers look for

in a footwear

Male

7

14

48

25

35

2.298

4

>0.05

key

attributes customers look for

in a footwear

Female

2

4

24

11

10

2.298

4

>0.05

Total

9

18

72

36

45

Table 4. showing key attributes customers look for in a footwear

Table shows the respondents opinion regarding what key attributes do you look for in a footwear. Maximum number of male respondents 48 reported that key attributes do you look for in a footwear (Opinion 3) Durability, second largest number 35 reported that (Opinion 5) Economy while lowest 7 respondents reported that (Opinion 1) Comfort, 25 respondents reported that (Opinion 4) Quality and 14 respondents reported that (Opinion 2) Style was another noticeable response.
Table shows the respondents opinion regarding what key attributes do you look for in a footwear. Maximum number of female respondents 24 reported that key attributes do you look for in a footwear (Opinion 3) Durability, second largest number 11 reported that (Opinion 4) Quality while lowest 2 respondents reported that (Opinion 1) Comfort, 10 respondents reported that (Opinion 5) Economy and 4 respondents reported that (Opinion 2) Style was another noticeable response.
Statistically, No significant difference was found in the opinion of male and female respondents observed regarding key attributes customers look for in a footwear.

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50 48

45

40

35

35

30

25

25 24

MALE FEMALE

20

15 14

11

10

10

7

5 4

2

0

COMFORT STYLE DURABILITY QUALITY ECONOMY

Chart 3 showing key attributes customers look for in a footwear

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Statement

Gender

Since

I really need it

Since I

am bored of

existing

To get

recognized

To

showcase lifestyle

-

X2

df

p

Why do

customers buy new footwear

Male

42

50

30

7

-

3.529

3

>0.05

Why do

customers buy new footwear

Female

21

22

6

2

-

3.529

3

>0.05

Total

63

72

36

9

-

Table 5: Why do customers buy new footwear

Table shows the respondents opinion regarding why do you buy new footwear. Maximum number of male respondents 50 reported that buy new footwear because of (Opinion
2) Since I am bored of existing, second largest number 42 reported that (Opinion 1) Since I really need it while lowest 7 respondents reported that (Opinion 4) To showcase lifestyle and 30 respondents reported that (Opinion 3) To get recognized was another noticeable response.
Table shows the respondents opinion regarding why do you buy new footwear. Maximum number of female respondents 22 reported that buy new footwear because of (Opinion
2) Since I am bored of existing, second largest number 21 reported that (Opinion 1) Since I really need it while lowest 2 respondents reported that (Opinion 4)To showcase lifestyle and 6 respondents reported that (Opinion 3) To get recognized was another noticeable response.
Statistically, No significant difference in the opinion of male and female respondents observed regarding buy new footwear was found.

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MALE

7 SINCE I REALLY NEED IT

30 42

SINCE I AM BORED OF EXISTING

TO GET RECOGNIZED

TO SHOWCASE LIFESTYLE

50

Chart 4. Showing Male respondents opinion regarding why do customers buy new footwear

FEMALE

2 SINCE I REALLY NEED IT

6

21 SINCE I AM BORED OF EXISTING

TO GET RECOGNIZED

22

TO SHOWCASE LIFESTYLE

Chart 5. Showing Female respondents opinion regarding why do customers buy new footwear

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Statement

Gender

Family

Friends

Brand

Ambass adors

Peers/

Collea gues

X2

df

p

Which

influences the most to buying behaviour

Male

36

31

45

17

-

2.719

3

>0.05

Which

influences the most to buying behaviour

Female

9

14

18

10

-

2.719

3

>0.05

Total

45

45

63

27

-

Table 6: Which influences the most to buying behaviour

Statement

Gender

Television

Newspaper

Internet

Billboard

X2

df

p

What

helps customers in

deciding the footwear

Male

16

48

12

23

-

3.595

3

>0.05

What

helps customers in

deciding the footwear

Female

17

24

6

4

-

3.595

3

>0.05

Total

33

72

18

27

-

Table 7 What helps customers in deciding the footwear

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50 48

45

40

35

30

25 24

MALE

23 FEMALE

20

17

16

15

12

10

6

5 4

0

TELEVISION NEWSPAPER INTERNET BILLBOARD

Chart 6 What helps customers in deciding the footwear

.

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Conclusion:

Consumer Decision making is affected by situation and the consumer himself, that is, internal and external factors. Internal factors refer to such characteristics of individuals as age, income level, interests, and state of mood, knowledge, involvements and attitudes. External factors refer to situation and environment where the consumers interrelate, which can affect attitude, decisions and behaviour.Internal and external factors have important influence on consumer behavior .However, external factors are more special. External factors are unpredictable and are
influenced not only by economical situation in state out also in region and whole world. Because living standard and social status of person change by externals, that is influenced by flow of information.

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Hersey Blanchard Johnson, “Management of Organizational Behavior”, 16, 17, 9th edition by
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Journals

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David B. Jones, “Setting Promotional Goals: A Communications Relationship Model,” Journal of Consumer Marketing, 11, no. 1(1994), pp. 38-49.

Magazines

Footwear Plus magazine December 17, 2009 to April 2011

It’s Shoes time magazine

Websites:

http://www.scribd.com www.wikipedia.org

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