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Consumer Behaviour
December 2023 Examination
Q1. A study in 2021 by People Research on India’s Consumer
Economy (PRICE) in partnership with the National Payments Corporation of India on
Digital Payments has estimated that around 61% of Indian households will be
doing digital payments by 2025 if the enabling environment for that is created.
The break-up of the households across 3 broad income groups viz. Rich, Middle
Class and Poor for digital payments is as under:
|
Class |
No. of Households in Millions expected to do Digital Payments by 2025 |
% Share |
|
Rich |
36.0 |
23.6% |
|
Middle Class |
61.0 |
40.2% |
|
Poor |
55.0 |
36.2% |
|
Total |
152.0 |
100.0% |
It is obvious that the Poor Class is going to be much bigger
in Digital Payments compared to the Rich and almost similar in share compared
to the Middle Class, though their average ticket size is going to be smaller.
It is also clear that in order the realise the potential number of 55 million
Households the poor will need the highest support and hand-holding
From a consumer buying perspective what are the things think
the Government Authorities along with banks and financial institutions do to
enable a faster adoption of Digital Payments across the poorer and economically
backward sections of the society. (10
Marks)
Ans 1.
Introduction
India stands at the cusp
of a digital revolution, as revealed by the 2021 study by People Research on
India’s Consumer Economy (PRICE) in association with the National Payments
Corporation of India. As the wave of digitalization sweeps over the subcontinent,
it brings forth a unique challenge and opportunity - integrating the
economically backward sections into the digital payments ecosystem. The study
indicated that by 2025, 55 million households from the 'poor' category might
Q2. Age has 2 broad categories – chronological age and
Subjective Age which is different from chronological age. Subjective Age has 4 dimensions.
Analyse how the 4 dimensions of Age will impact the purchase choices for
consumers buying cosmetics and ready-to-wear clothes. (10 marks)
Ans 2.
Introduction
Age, as a determinant of
human behavior, goes far beyond the number of years a person has lived. While
chronological age is a straightforward measure of how long someone has been
alive, it is not always an accurate predictor of attitudes, behavior, or
preferences. This is where subjective age comes into play. Subjective age can
be defined as how a person feels, perceives, or would like to be in age, rather
than their actual chronological age. This discrepancy between chronological and
subjective age can significantly influence consumer
Q3. Answer the following
a) A company in USA has developed a Gluten Meter which is
device that measure the gluten content in the food a consumer wants to consume.
Gluten is a group of proteins found in wheat, barley, rye, and their
derivatives. It's what gives dough its elasticity and helps baked goods
maintain their shape. While gluten is responsible for the desirable texture of
many baked products, it can aggravate diabetes and obesity. Since India has the
highest number of diabetics in the world this American wants to understand the
attitude of people towards Gluten and Gluten Meters. How will they be able to
understand the attitude of the consumer to this. (5 Marks)
Ans 3a.
Introduction
The dynamics of global
health are shifting rapidly, with diabetes becoming a paramount concern, especially
in countries like India which houses the world's largest diabetic population.
Amidst this backdrop, a novel Gluten Meter has emerged from the USA, aimed at
measuring gluten content in food items. Gluten, though essential for elasticity
in dough, has been linked to exacerbating conditions like diabetes and obesity.
For a US-based company,
b) How will you use hemispheric laterization to influence
consumers to buy a particular brand of a lifestyle home theatre system like
Bose.
Ans 3b.
Introduction
Hemispheric
lateralization, a fascinating aspect of the human brain, refers to the division
of functions between the brain's left and right hemispheres. While the left
hemisphere is often associated with logical, analytical, and sequential tasks,
the right hemisphere is linked with creativity, intuition, and emotional
processing. In the realm of consumer behavior and
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