Factors Affecting Buying Behavior of Ecofriendly Cars

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International Journal of Research and Innovation in Social Science (IJRISS) | Volume II, Issue I, January 2018 | ISSN 2454-6186

Factors Affecting Buying Behavior of Ecofriendly Cars

Romi Sainy

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  Jaipuria Institute of Management Indore, Madhya Pradesh, India

Abstract: The aim of the customer study is automobiles. The study is being carried out to understand the awareness of customers on environment friendly cars. The study has been conducted keeping in mind age group, geographical area and other factors of the respondent.

Key words: Eco friendly cars, buying behaviour, car purchase, environmental consciousness

I. INTRODUCTION

he research paper is an attempt to discuss a managerial problem where the manager of an automobile company is worried about the change in buying behavior of the consumers who are becoming environment conscious and accordingly, are deciding not to purchase automobiles. He is worried about the awareness level of consumers towards environment friendly and will this increasing awareness impact the sales. The research talks about the factors considered by consumers before purchasing a car, their awareness level towards hybrid car and willingness to pay an opportunity cost for purchasing an ecofriendly car or a hybrid car.

II. REVIEW OF LITERATURE

Multiple studies have been carried out to understand the consumer behavior towards automobiles but there has been considerably less research done on echo friendly cars and factors responsible for their purchase in relevance with Indian market. There has been multiple research carried out to understand the awareness level and factors considered before purchase of hybrid cars (Potter, 2007) but Indian market is different. Indian customers are price sensitive and with increasing purchasing power, Indian market is one of the most lucrative markets in world in fact in 2016 it has become third largest market for automobile in World with growth rate of more than 16.7 % (IBEF, 2016)with the growth rate of more than 6% for hybrid cars. Respondents considered were from various backgrounds, gender, occupation and were of various income levels. One of the prominent research carried out for Indian market is available (Shende, 2014). The research paper has been directive for this research. Similar to the directive research this research also considers customer purchase parameters like price, safety, comfort, power and pickup, mileage, max speed, styling, after sale services, brand name, spare parts cost etc. were also considered.