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Psychological Barriers That Influence Client’s Brand Recognition Process And Buying Decisions: An Empirical Study In Indian Start-Up Ventures In The Field Of Construction Chemicals And Related New Product Systems

Author: 
Milind Vinayak Gokhale
Subject Area: 
Social Sciences and Humanities
Abstract: 

Background: Today’s clients tend to cross the traditional marketing funnel boundaries by changing the way they research and purchase. Any organization that wants to be successful must consider buyer behaviour while developing their marketing mix. This paper aims to study the role of psychological factors in determining consumer’s buying behaviour, which ultimately affects the product sales performance in the given market. Construction chemical industry of India is considered as a target market. The leading idea is to identify and analyse the factors, which majorly affect and work as psychological barriers for consumers in the construction chemical industry. Method: An effective tool, survey questionnaire was floated to different types of end customer like dealers, distributors, applicator, Ready-mix Concrete (RMC), infra companies and project site in order to know the customers’ opinion about company products. As these chemicals are primarily utilized during construction work, an individual as a consumer will rarely buy them, so the target customer base is chosen as dealers, distributors, applicators, industrial buyers and large infra companies. Results: This paper identifies, and empirically validates, the psychological barriers, its impact on brand recognition and its consequences in sales of construction chemicals and its related new product systems. Conclusion: After calculating the mean value of all the factors it is observed that the Emotional Factor plays a central role in the decision-making process of the construction chemical buyer.

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