Identify the Factors Influencing Customer’s Preferences for Segment of the Cars

Understanding the Influencing Factors in Customer Preferences for Small Cars

Abstract

Yesterday’s luxuries are today’s necessities. Cars once considered as a luxury now takes a part of one’s day to day life and it has become a necessity. The phenomenal expansion of the Indian economy has given a boost to the Indian middle class household and has led to creation of new customers that has invited large conglomerates to various market sectors in India. Automobile market is one of the largest in India and has witnessed a sudden growth in customer base in the form of the rapidly rising and expanding Indian middle class household. However, due to their continuous growth, it is difficult to identify various aspects that influence a middle class households buying decision in case of automobiles. The value, comfort ability, efficiency, accessibility, ambition and need are the factors affecting consumer’s brand preference of small cars.