Variety seeking behaviour: a study with reference to low involvement product categories

Abstract

Globalization and liberalization greatly influenced the Indian newlineeconomy and the economy has become a huge consumer market Fast Moving newlineConsumer Goods FMCG sector in India is estimated to grow by 60 in newline2020 Change in lifestyle due to rising income and urbanization as well as newlineuntapped opportunities in rural markets are pulling the multinational newlinecompanies MNCs in flocks Due to high competition in this industry newlineconsumers are confronted with more choices than ever before High newlinepurchasing power changing lifestyle urbanization exposure to more newlineinformation boredom etc also motivate consumers to keep looking for newlineproducts that would satisfy their needs and wants The presence of many newlineplayers and numerous brands within the product category in the market has newlineprovided the ground for the consumers to switch brands with ease Therefore newlinefor the market leader and for the follower brand to endure in the market the newlineknowledge of variables that influence brand switching is imperative for newlineacquiring and retaining consumers One of the variables that effect brand newlineswitching is the variety seeking behavior VSB newlineVariety seekers are defined as consumers whose likelihood of newlinebuying the same brand in the next purchase occasion is minimal Variety newlineseeking occurs when the needs and wants are not satisfied by a single newlineproductbrand but with an array of productsbrands Variety seeking also newlineoccurs when the consumers want to experience different flavors provided by newlinethe product category Variety seekers sequentially switch between different newline newlineproductsbrands if there is no change in the characteristics of their currently newlineusing productsbrands But these consumers switch within familiar newlineproductsbrands only In other words variety seeking arises simply out of the newlineconsumer s boredom from using the same product from one period to the newlinenext newlineA number of theories has been proposed to explain variety seeking newlinebehavior and among them the most distinguished one is the optimal newlinestimulation level OSL and the dynamic attribute satiation DAS newline