Study of Psychological Factors of Young Consumers of Odisha
Keywords:
Materialism, Time pressure, Self-confidence, Interpersonal Influence, Psychological factorAbstract
Every consumer when purchases a product or when in the decision making phase for purchasing a product passes through some process of mental decision comprising of the choice sets to reach at the correct decision. As a general practice, apart from the information gathering about the product, the decision making i.e. mental process are influenced by psychological variables also. This paper aims at finding the psychological factors of young consumers of Odisha. Exploratory factor analysis is carried out using the psychological variables from drfferenl consumer psychological studies to find out the psychological factors of the young consumers of Odisha. In this study four psychological factors emerged such as first one is 'Materialism' factor which depicts the materialistic psychological dimension of the consumers. Second one is 'Susceptibility to Interpersonal Influence' factor which describes the psychological characteristics of consumers where there is consumers' susceptibility to the interpersonal influence. Third factor is 'Opinion Leadership & Self Confidence' where the factor represents the shopping opinion leadership of the consumer and self-confidence as well and the fourth Factor is 'Perceived Time Pressure' which depicts about the perceived time pressure of the consumer. These psychological factors will help in understanding the consumer decision making and behaviour.
References
I. Argyrous G. (2014), Statistics for Research-With a guide to SPSS, 3,d Edition , SAGE Publications, New Delhi.
Babin et.al (1994), "Work and/or fun: measuring hedonic and utilitarian shopping value". Journal of Consumer Research, Vol.20 No.4, pp. 644-56.
Bearden, WO., Netemeyer, R.G. and Teel, J.E. (1989), Measurement of consumer susceptibility to interpersonal influence, journal of Consumer Research, Vol.15, March pp.473-81.
Belk R.W. (1985), "Materialism: trait aspects of living in the material world", journal of Consumer Research, Vol. 12,No.3, pp.265-80.
Colin D. Gray & Paul R. Kinnear (2012), IBM SPSS Statistics 19 Made Simple, I" Edition, Psychology Press, NY,USA.
Cooper R.D. & Schindler P.S. (2008), Business Research Methods, 9th Edition, Tata McGraw Hill.
Cox D.F, Rich S. U. (1964), "Perceived Risk and consumer decision-making- The case of telephone shopping", Journal of Marketing Research, Vol.l,No.4, pp.32-9
Hair, Bush & Ortinau ,(2006) , Marketing Research, Third edition, Tata Mc-Graw Hill 9. Kiel G.C, Layton, R.A. (1981), "Dimensions of consumer information seeking behavior",Journal of Marketing Research,Vol.18, May, pp.233-9
Loudon D.L. & Della Bitta A.J. (2008), Consumer Behavior, Tata McGraw Hill (4th ed,) 11. Lumpkin, J.R .. (1985), Relating TV preference viewing to shopping orientations, lifestyles, and demographics,Journaf of Advertising, Vol.I 1, No.4, pp.56-67.
Lumpkin, J.R. and Darden, WR. (1982), Shopping orientation segmentation of the elderly consumer,Journal of the Academy of Marketing Science, Spring, pp 271-89.
Lysonski, S., & Durvasula, S. (2013), Consumer Decision Making Styles in Retailing: Evolution of Mindsets and Psychological Impacts. Journal of Consumer Marketing, 30(1), 75-87.
Malhotra N K & Dash S (2012) ,Marketing Research-An Applied Orientation, 6m Edition, Pearson, p.590.
McDonald W ( 1994), "Psychological associations with shopping: A moderator variable perspective, Psychology and Marketing, Vol.11,No.6, pp. 549-68.
Paridon T.J. (2005)," Personal shopping value, consumer self-confidence, and information sharing measures for retailers: suggestions for large and small alike", available at: www.sbaer.uca.edu/research/asbe/2005/9.pdf (accessed on 12.09.2016)
Park et.al (1994), "Consumer Knowledge assessment", Journal of Consumer Research, Vol.21, June pp.71-82. 18. Price LL. , Feick L.F. (1984), "The Role of interpersonal sources in external search: An informational perspective", in Kinnear, T. C (Ed.) Advances in Consumer Research, Vol. I 1, Association for Consumer Research, Ann Arbor, MI, pp.250-3.
Richins, M. (1987), Media, Materialism and human happiness, in Wallendorf, M and Anderson, P (Eds), Advances in Consumer Research Proceeding, Vol. I 4, Association for Consumer Research, Provo, UT, pp.352-6.
Schiffman,L & Kanuk LL ,(2007), Consumer Behavior, PHI,(9th ed.)
Zhou et.al (2010), " Chinese consumer decision making styles: A comparison between coastal and island regions", Journal of Business Research,Vo!.63, pp.45-51.
