MARKET PENETRATION STRATEGIES TO INFLUENCE THE LEVEL OF IMPULSE BUYING FOR ELECTRIC CARS IN INDIA
Abstract
Worldwide adoption of electric vehicles mainly in the field of electric cars helps in solving various problems like environmental pollution, dependency on crude oil, global warming. The current market penetration strategies adopted by electric car market is relatively low but with the help of government policies and programs it will develop by 2030. This paper basically focuses on the penetration strategies adopted by the electric car market for enhancing the demand of electric cars and for creating impulse demand among the consumers. Various factors with penetration strategies are responsible for growth of impulse buying among the people like social factors, income factors, economic factors, psychological factors, environmental factors etc. This paper discuss on the penetration strategies which help in influencing demand of the consumers and suggest some factors that can help the electric car manufacturers to capture a big market. Impulse buying acts as a major tool for affecting the buying behaviour of the people and it is the time to analyze properly the impulse buying behaviour of the consumers which helps the consumers in adopting the product rather choosing them. Customers value a high-quality deal. By starting with an low-cost initial price new companies can construct goodwill with a large number of customers. Price-sensitive consumers are more likely to switch and encourage the product through word-of-mouth marketing strategy. Unplanned purchase patterns were discussed by researchers for years. Impulse buying develops a want within the mind of the person to do commitment with himself for an unplanned purchase and impulsive buying is identical with unintentional buying.
Keyword : Electric Vehicles, Penetration Strategies, Global Warming, Goodwill, Impulse Buying
This work is licensed under a Creative Commons Attribution 4.0 International License.
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