A Study on Consumer Behavior Towards Luxury Car Brands In Chhattisgarh

Abstract

Automobile industry contributes 49% to the manufacturing GDP of India. Luxury Car industry is one of the largest industries in the world giving employment to millions of people and playing a major role in development of many economies. India is a one of the largest markets for global car manufacturers. India s luxury car market is growing despite the slowdown in the Indian automobile industry and complex demographics. Luxury cars are in demand not only in India but also in developed countries like China, America, Europe and the Middle East. Luxury cars are used as a symbol to demonstrate the owner s status and personality and is a way to communicate the prestige to others. Researches on luxury consumption reveals various dimensions such as Social, Personal and Psychological factors. People would rarely see an Audi, BMW or Mercedes car on the Indian roads two decades ago but now it is easy to find an expensive SUV s like Toyota Fortuner worth 50 lacs or an Audi, BMW, Mercedes, Volvo or a Range Rover even in small states like Chhattisgarh. These luxury brands are being regularly driven with proud and prestige. Consumer Behavior towards luxury products has changed drastically in India with increase in disposable income of the consumers. The relationship can be established between consumer purchase intentions and the demographic, psychological and sociological factors which motivates them to purchase of luxury car brands. newlineThe primary objectives of the research is to investigate the factors which affect luxury car purchase, and to study the role of demographic, sociological and psychological factors on purchase intension as well to study the customer satisfaction of luxury car brands. The secondary objectives are to understand the impact of personality and country of origin (of the brand) on luxury car purchase. This study adopts a descriptive research design. The statistical population of the study is luxury car owners in Chhattisgarh State. A total of 500 respondents who are residing in Raipur, Durg/Bhilai