Whose Decision is it Anyways? The Changing Purchasing Patterns of Indian Families

Whose Decision is it Anyways? The Changing Purchasing Patterns of Indian Families

Gauri Joshi (Symbiosis Centre For Management and Human Resource Development, Pune, India) and Pratima Sheorey (Symbiosis Centre For Management and Human Resource Development, Pune, India)
Copyright: © 2019 |Pages: 10
DOI: 10.4018/IJABIM.2019100102

Abstract

The latest Disney channel commercial for the Indian market depicts the move of Disney from being just a kid's channel to a family channel. This move signals the importance of “Families” in the Indian settings. In the Indian context, family has been traditionally considered an important decision-making unit with respect to purchasing products and services required for the household on a daily basis; however, there have not been in depth studies understanding the family as a decision unit and the changes this unit has witnessed since the opening of economy in 1990s. This article compares and contrasts the changing purchase decision making of millennial generation with their parents. Qualitative interviews are used to gather data for family decision making in addition to exclusive secondary sources of data like research papers, articles, and books on the Indian economy and the Indian family structure. Literature from the field of sociology and political science is also referred to, to understand the socio-political and socio-economic impacts on the consumer.
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Socio-Economic Changes In India

India has undergone a tremendous change in terms of its market economies since the adoption of the Liberalization, Privatization and Globalizations movements in mid 1990s. This change has resulted in not only changing the way the Indian companies operate and do business but also the way the consumer indulges in the purchasing of goods and services.

The new economic policy of 1991 in India initiated fresh inflow of capital from foreign investors thus releasing the country from the highly regulated ‘licence raj’. In addition to opening the foreign direct investments, state utilities like electricity, telecommunications and aviation and were sold to private investors. The change could best be described as pro-business rather than pro-market. This triggered the process of liberalization in 1990. This change accompanied by the globalization and privatization altered the Indian society and market economy.

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