CONSUMER DECISION MAKING- A STUDY OF PATANJALI AYURVED LTD WITH PECULIAR REFERENCE TO CAUSE RELATED MARKETING IN PUNJAB
Received: 30.04.2021; Revised: 29.06.2021, Accepted: 28.07.2021, Published Online: 10.08.2021
Khushleen Kaur, Dr. Amar Inder Singh, Ashad Ullah Qureshi, Dr.Viplaw Kishore Pandey
Research Scholar, Punjabi University, Patiala, Punjab
Dr. Amar Inder Singh, Ashad Ullah Qureshi, Dr.Viplaw Kishore Pandey
Professor, Punjabi University, Patiala, Punjab
Ashad Ullah Qureshi, Dr.Viplaw Kishore Pandey
Technical Officer, NIT Kurukshetra, Kurukshetra, Haryana
Dr.Viplaw Kishore Pandey
Deputy Registrar, Bihar University, Bihar
Cause-Related Marketing is a marketing technique where an organization encourages a cause and associate itself publicly with such a cause. Cause-Related Marketing (CRM) and Corporate Social Responsibility (CSR) are having an excellent line between them. When any conglomerate tries to return to society from what it gains from society, then this is known as CSR or Corporate Social Responsibility. However, when any conglomerate or Corporation invests, it is time and money towards a particular cause, then it is known as Cause-Related Marketing (CRM).
This research article focusses on Cause-Related Marketing which is mainly used by companies for marketing and promotional activities to express their commitment towards Corporate Social Responsibility. In our research, we have tried to find out the proportion of consumers who are aware and unaware of various CRM activities and the most effective source to spread awareness regarding Cause-Related Marketing. Moreover, this study focusses on the various factors which affect consumer decision making while purchasing any product and what role does Cause-Related Marketing and Swadeshi Products play in consumer decision making. This research study reveals consumers familiarity with CRM and reveals their purchase behaviour as well as their product choices.
From the research analysis, we got to know that from 550 randomly selected participants 79% participants bought something for charity and 92% participants are aware of various CRM activities such as P&G Project Shiksha, ITC-Classmate Notebooks and Marico-Shanti Amla Oil. Apart from this, it is noticed that the majority of respondents highly prefers the products, which helps in a social cause and hence are loyal towards their duties.
Keywords: Cause Related Marketing, Corporate Social Responsibility, Patanjali Ayurved Limited, Data Analysis, Customer Preferences, Purchase Behaviour, Paradigm Shift