INFLUENCE OF PRICE BY CONSUMER BUYING BEHAVIOR IN THE AUTOMOBILE INDUSTRY IN SOUTH TAMIL NADU
Abstract
Price is one of the most important factors that influence consumer buying behavior in the automobile industry in Chennai. There are several ways in which price can impact consumer decision-making: Budget constraints: Consumers in Chennai may have a specific budget in mind when considering purchasing an automobile. They may be limited by their financial resources and therefore choose a vehicle that fits within their budget. Value for money: Consumers in Chennai may also consider the value for money that an automobile offers. They may compare the price of a particular vehicle with its features, performance, and overall quality to determine if it is worth the investment. Perception of quality: The price of an automobile can also influence consumer perception of its quality. In Chennai, consumers may associate a higher price with better quality, and may therefore be willing to pay more for a vehicle that they perceive to be of higher quality.Brand reputation: Consumers in Chennai may also consider the reputation of a brand when evaluating the price of an automobile. They may be willing to pay more for a vehicle from a brand that is known for its quality and reliability.Availability of financing options: The availability of financing options can also impact consumer decision-making when it comes to price. Consumers in Chennai may be more likely to choose a higher-priced vehicle if financing options are available that make it more affordable.In summary, price is a critical factor in the decision-making process of consumers in the automobile industry in Chennai. The price of a vehicle can impact consumers' perception of its quality and value for money, and can also influence their brand preference and willingness to purchase based on available financing options.
Keyword : Consumer,Buying behavior,Automobile,Budget,money.
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