Factors Influencing Buying Behaviour-A Study Of Passenger Car Market

The choice before of the customer are increasing rapidly, as more and more foreign automobile manufactuers commerce operations in India. The market has changed from a sellers' market to a buyers' market. Now too few customers are chasing too many goods. As they are getting better products day by day, price is no longer considered the single most important factor; rather, other features case promirence. This study attempts to find out the important features which a customer considers while going for the purchase of a new car. The paper presents the results of the survey of 303 car owners/ potential buyers from the major cities of the state of Punjab and the Union territory of Chandigarh. Results of the analytical study based on the factor analysis indicate the nine most important factors considered by buyers while buying a car. These are Safety and Comfort, Luxury, Economy, Reliability, Fuel Efficiency, Ease of Finance, Variety, Colour and Spaciousness, and Brand Image.