Buying Behavior of Global and Local Brands of Consumer Goods – A Study in the Market Economy of Kerala

Abstract

Global brands are often introducing the western cultures on our society. This leads to the loss of cultural identity. Present market scenario showed a visible change in consumer preference to technologically superior branded products. Change in the consumers attitude is mainly due to the increasing consumer awareness and preference for new models. The changing habits of consumers purchasing behavior told that luxury goods are now being apparent as necessities with disposing higher incomes being spent on lifestyle products. A large number of domestic and multinational companies are enter and competing in the market.  The changes needs, taste and income of the consumers are the challenges of the companies, would force to be more dynamic. In recent years, consumers are more preferred for foreign goods even if Indian goods are also at par of global standard. Brand preference is the one of the influencing factor in deciding the purchasing behavior. India is one of the youngest countries in the world and the attitudes of the Indian consumers are changing rapidly. Brand selection is more complex and critical in a global market place whether the brand may be local or global. The global market scenario gives a picture of peoples choose more global branded product rather than local branded product