1. INTRODUCTION:

A consumer is an individual who does various physical actions and careful to make purchasing decisions on purchasing the product (Engel et al., 1995)¹. The customer is the king and the customer decides what business activity is (Kotler and Keller, 2014)². An accurate analysis of consumer preferences, behaviors, motives, and needs will begin with a proper marketing plan.

Customer behavior awareness can be of great benefit to formulate and execute marketing strategies. The consumer is the foundation, finally the primacy of action (Gopinath, 2019)³. Globalization played a key influence in bringing marketplaces from various parts of the world closer together (Praveer and Shrivastava, 2010)⁴. Markets are defined by competitiveness in a globalized economy (Deshmukh and Das, 2012)⁵. Customer or consumer behaviour is a constantly changing element (Hasan and Verma, 2020)⁶. Consumers purchase products by taking under consideration various factors such as the price of the product, physical features, functions of the product, and branding of the product. The consumer purchasing decision is a selection of two or more options to carry out purchases (Dowling, 1986)⁷. Consumer purchasing decisions are based on different motivations and common impulses. The stronger the impulses and motives of the consumer, the stronger the decision to purchase a particular product (Hsin Chang and Wang, 2011; Bai and Qin, 2016)^8,9. Every product has distinct features that influence how customers view it (Sharma and Sahni, 2017)¹⁰. Consumers anticipate distinct things from a marketer or a product (Singh and Singh, 2018)¹¹. Consumers' purchasing decisions are impacted by a variety of variables that cause them to choose a specific product (Chowdhury, 2019)¹². Consumer demand is influenced by various factors such as product factors, price factors, promotional factors, and economic factors; own price, the price of close substitutes, price of complementary and household income and family size. Customers make decisions based on a large variety of factors and while it is difficult to manipulate them all good advertisers seek to strike a balance between our personalities being appealed to the emotional and rational sides. When it comes to purchasing decisions, each consumer is unique (Dey and Sharma, 2017)¹³.

Prestige sensitivity, Price quality schema, Value consciousness, Sale proneness, Coupon proneness are acting significant roles to decide between buying behavior of consumers from the economic point of view (Kalpana, 2017)¹⁴. Product quality is the product's ability to satisfy the needs or desires of consumers (Nilsson et al., 2001)¹⁵. When marketers pay attention to quality, consumers will be quickly decided to buy a product or service (Amron and Mahmud, 2017)¹⁶. Price is an element that generates revenue for producers of goods (Monroe, 2002)¹⁷. It's a versatile marketing feature that's easily modified by time and place. Price is not only in product label figures but can take many forms in many functions (Kenning et al., 2011)¹⁸. The importance of promotional offers, availability of brands is important that companies must give sufficient consideration before they plan and implement their marketing strategies (Thanigachalam and Vijayarani, 2014)¹⁹. Though the importance of packaging design is a vehicle for communication and branding for packaged FMCG products the consumers are not highly aware of it (Deliya, 2012)²⁰. The level of customer satisfaction often depends on factors unique to the product and generally applicable to the industry. Customer behavior would change if the distribution channels meet consumer expectations (Kumaravel and Vikkraman, 2013)²¹. Brand image is consumers' understanding and expectations about a particular product (Lau and Phau, 2007; Rubio et al., 2014)^22,23. Brand image is an understanding of the consumer based on the type of a particular brand. When it becomes gradually rooted in consumer memory, a brand can become closer to the customer's preference (Diallo et al., 2013)²⁴.

FMCG is the abbreviated form of Fast-Moving Consumer Goods. In West countries, FMCG is also called consumer packaged goods. Any product that is used very frequently, sometimes daily, and moves relatively faster (consumption at least once in a month) at the retailer end can be classified as FMCG. Examples are soap, toothpaste, batteries, beverages, cigarettes, etc. Thus, FMCGs are essential, low price goods that get repeat sales. Over the past decade, the FMCG sector has risen at an annual rate of about 11 percent. The FMCG products are typically low-cost products such as toiletries, processed food, soft drinks, etc. FMCGs are often referred to as non - durable products -a tangible object that is consumed easily, worn out, or obsolete and used in single use or for a few purposes (Majumdar, 2007)²⁵. FMCG is also called 'consumables' that are consumed by the consumer, typically sold in packaged form and generally branded (Diallo et al., 2013)²⁴. Additionally, consumer goods for personal, family, or household use are categorized into three types: convenience, shopping, and specialty categories (Copeland, 1923)²⁵. As regards consumer behavior towards this group, consumers prefer to expend limited effort on comparison and purchase (Majumdar, 2007)²⁵. The FMCG industry in India is the economy's fourth largest sector with a total market value of over US$ 14.8 billion (Nafde, 2017; M. Gomathi and R. Gomathi, 2012; Meera et al., 2017)^27,28,29. In India, the FMCG market is the most important market segment; thus, creates employment for over three million people in downstream activities. Household services, personal care, and Food and Beverages are its core constituents (Meera et al., 2017)²⁹. The FMCG market has grown into one of India's most attractive rural markets (Kashyap and Raut, 2005)³⁰. Consumer behavior plays a significant role in promptly pushing consumer goods marketing. The fast-moving consumer goods (FMCG) sector contributes significantly to the growth of India's GDP (Thanigachalam and Vijayarani, 2014)¹⁹. Therefore, the changes in consumer purchasing behavior towards FMCG products need to be recognized (Vibhuti et al., 2014)³¹. The Indian market for FMCG can be split into urban and rural markets. The buying behavior in those markets offers us the inside into the industry's evolving scenario (Yuvarani, 2012)³². It was difficult to connect rural customers with Brands and the value for money definition a decade ago, but the rural customers also became cautious and conscious of Brands with technology and that rural economy. With retail stores and a large distribution network, the top FMCG companies have been aggressive in selling their goods in those markets (Nafde, 2017)²⁷. Consumer behaviour in most emerging nations, such as India, has altered dramatically as a result of rising per capita disposable income, global engagement, and information and communication technology (Shekhar and Raveendran, 2014)³³. Marketers are interested in studying consumer behaviour because they can understand how customers pick goods and services to fulfil different requirements, as well as the variables that affect their decision (Kumar, 2015)³⁴. Thus, understanding factors influencing purchasing decisions of FMCGs and their effects on the consumer is an important matter. For households with low disposable income levels where FMCGs expenditure are a large share of the budget, rising prices result in diminished purchasing power and may force difficult budgetary trade off. This research paper provides information on the factors affecting the purchasing decisions of consumers concerning Fast Moving Consumer Goods.

2. REVIEW OF LITERATURE:

There is a lot of research on the factors that influence consumer behavior in response to Fast Moving Consumer Goods. (Ota et al., 2020)³⁵ explained that in today's modest world, where buyers are overloaded with various brand choices, gaining new customers and retaining existing ones is a difficult effort for all marketers. (Rahman, 2020)³⁶ researched and discovered that advertisements appeal to people's preferences and choices to influence their purchasing decisions. The advertisement had a significant impact on any income level; however, pricey products and repeated advertisements do not affect consumer purchasing behavior. (Azhagan and Sowmiyaa, 2020)³⁷ explained that household consumables, such as packaged foods, beverages, and personal care products, represent half of FMCG sales in India. Several factors influence rural consumers' purchasing decisions for FMCG products, including low prices, convenient packaging, immediate demand, availability, quality, lifestyle, economic situation, advertisements, offers, etc. (Prajapati and Bhatt, 2019)³⁸ made research on mother brand reputation. He discovered that consumers' views are also influenced by the mother brand's reputation. It will be easier for you to expand if your mother brand is stronger. The parent and extended brands must have the similar image and category matches. (Gopinath, 2019)³ explains from an economic standpoint, the consumer believed that the value of money was able to be applied to the concerned products. The researcher concluded that value consciousness had a favorable impact on consumer decision-making. (Khare and Tripathi, 2019)³⁹ investigated that advertisements are thought to draw attention to a product by both rural and urban consumers. It has increased involvement, increased product understanding, increased product interest, increased brand desire, reduced purchase confusion, increased loyalty, reinforced product quality, and motivating others to try the product. (Mohanasundaram, 2019)⁴⁰ founded that the effort of retailers to promote consumable products is the most successful component. It was also shown that there are differences in how people choose brands. The review of the relevant research makes it particularly suitable to conduct the present study because it is evident from the literature review that there is a significant amount to find out about FMCG consumer behavior. In the background of research in the consumer behavior analysis of the last two decades, several previous studies argued that a lot of gaps are unfilled. The review of the literature makes it clear that there are very few studies conducted on influencing factors of consumer behavior for FMCG with special reference to the state of Kerala. To fill this gap, the present study is an attempt to find out the influencing factors of consumers’ purchasing behavior for FMCG in the state of Kerala.

3. STATEMENT OF THE PROBLEM:

FMCG sector in India is one of the four largest sectors in the Indian economy. Fast Moving Customers Goods operate at a low cost. Intense rivalry in the FMCG sector compels advertisers to put creative goods into operation. The FMCG companies have changed their strategies and make well planned marketing of the products to penetrate both the rural and urban markets. The development of FMCG business depends on consumer satisfaction when consumer satisfies the price and features of the FMCGs. Customer satisfies when the product meets its expectations. To generate delight is not an easy job. Companies are varying with each other for competitive advantage. Customer expectations are influenced by a multitude of factors but there are a few key elements that are recognized as important influences on customers purchasing decisions. In this context, there is a much need to understand the factors affecting consumer purchasing decisions on FMCGs. Here, this study analyzes the influence of various factors affecting consumers purchasing decisions of FMCG products. Specifically, it addresses the following research question:

1. What are the most important factors influencing purchasing decision of customers for Fast Moving Consumer Goods?

2. To what extent the consumer purchasing decision influence factors that affect consumer decision making?

4. OBJECTIVES OF THE STUDY:

The primary objectives of the study are

1. To analyze the factors affecting consumer purchasing decisions of FMCG Products.

2. To determine the relationship between various factors influencing purchasing FMCGs and purchase decisions of consumers.

5. RESERCH METHODOLOGY:

There is immense scope for the study that is made here. The study will help to find out the influence of various factors of FMCGs on consumers. Consumer demand is influenced by various factors such as product factors, price factors, promotional factors, brand image, convenience, social and peer influence, and information availability. There can be other factors that affect consumer purchasing decisions of FMCGs such as economic factors; own price, the price of close substitutes, price of complementary and family size. but it may be ignored. The methodology used for this study was descriptive analysis. Descriptive studies are more just a collection of data that involves measurement, classification analysis, comparison, and interpretation. It tells about what exists at determining the nature and degree of existing conditions. For the present study, the state of Kerala was selected as sampling area. Consumers of FMCGs in this sampling area have constituted the population of the study. A sample size of 195 respondents was selected from the population on a convenience random sampling method. For this study, both primary data and secondary data are used to satisfy the research objectives. Primary data is collected with the help of a well structured questionnaire. Respondents can record their responses by easily ticking their preferences in the respective columns provided in the questionnaire. Secondary data are collected from published sources like newspapers, journals, and magazines. Relevant statistical tools such as Pearson correlation and factor analysis were used for analyzing and interpreting the collected data. To meet this objective, the researcher has developed a formal conceptual framework.

Fig 1. Conceptual framework for the study

6. RESULTS AND DISCUSSION:

FMCG purchasing decisions have been associated with various factors in consumer behavior, including product, price, place, and promotion. The purpose of this study is to explore the factors that influence consumer purchasing decisions for FMCGs. This section summarizes the main conclusions of the study based on the methodologies used. The relationship of various factors influencing purchasing FMCGs such as promotional factors, product factors, price factors, brand image, social influence, convenience, and information availability with purchase decisions of consumers is analyzed with Pearson product-moment correlation and the output is presented in Table 1.

Table 1. Pearson Product Moment Correlation

Factors Influencing Purchase Decisions		Purchase Decisions
Promotional factors	Pearson Correlation	.712**
Promotional factors	Sig. (2-tailed)	.000
Product factors	Pearson Correlation	.636**
Product factors	Sig. (2-tailed)	.000
Price factors	Pearson Correlation	.447**
Price factors	Sig. (2-tailed)	.000
Brand image	Pearson Correlation	.321**
Brand image	Sig. (2-tailed)	.000
Social influence	Pearson Correlation	.245**
Social influence	Sig. (2-tailed)	.000
Convenience	Pearson Correlation	.389**
Convenience	Sig. (2-tailed)	.000
Information availability	Pearson Correlation	.232**
Information availability	Sig. (2-tailed)	.000

Source: Primary data ** Correlation is significant at the 0.01 level (2 tailed).

Table 1 shows the result of Pearson product-moment correlational analysis between various factors influencing purchasing FMCGs and Purchase intentions of the consumers. The result shows that there was a strong and positive correlation between promotional factors and purchase decision which was statistically significant at r=.712, p=.000, product factors and purchase decision which was statistically significant at r=.636, p=.000, price factors and purchase decision which was statistically significant at r=.447, p=.000, brand image and purchase decision which was statistically significant at r=..321, p=.000, social influence and purchase decision which was statistically significant at r=.245, p=.000, convenience and purchase decision which was statistically significant at r=.389, p=.000, information availability and purchase decision which was statistically significant at r=.232, p=.000. Therefore, altogether the result of Pearson Correlation showed that promotional factors, product quality, price factors, brand image, social influence, convenience, and information availability have a positive and significant relationship with purchase decisions at 0.01 level of significance. Promotional factors have the strongest positive relationship and information availability have the weakest relationship with purchase decisions.

Factor analysis was carried out to identify the major factor which influences the FMCG purchase decisions (Luck and Rubin, 1987). The main element of this analysis is to reduce by splitting the samples into two. Then, it will extract separately. Then, if similar factors will be grouped. There must be some kind of relationship between the variables for factors analysis to perform, and this was tested using Bartlett's Test of Sphericity, and the results are shown in Table 1. This test determines whether a particular set of data is suitable for factor analysis. Factor analysis can be considered appropriate for a data set only if the significance value is less than 0.05 (Field, 2000). As the significance value for the present data is .000. Therefore, the factor analysis is appropriate.

Table 2. KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy.		.894
Bartlett's Test of Sphericity	Approx. Chi-Square	82.663
	Df	21
	Sig.	.000

Source: Primary data Significant at 0.05 level

Table 3. Extraction Method: Principle Analysis Communalities

Sl. No	Factors	Initial	Extraction
1	Promotional factors	1.000	.661
2	Product factors	1.000	.622
3	Price factors	1.000	.598
4	Brand image	1.000	.440
5	Social influence	1.000	.375
6	Convenience	1.000	.412
7	Information availability	1.000	.214

Source: Primary data Extraction Method: Principal Component Analysis

The present data set also satisfies sampling adequacy using Kaiser-Meyer-Olkin Measure of Sampling Adequacy. Kaiser Meyer Olin is a test method that measures how well it is suitable to the sample data for the factor analysis. If Kaiser Meyer Olkin is greater than 0.5, it means the sample is adequate (Field, 2000). Table 2 shows the Kaiser Meyer Olin is .894. It means that the sample is adequate. Therefore, the factor analysis is valid.

Table 3 shows the communality value. Communality can be defined as the proportion of variance in any one of the original variables, which is captured by the extracted factors. Promotional factors (.661) emerged as the most important variable which influences FMCG purchase decisions. Hence, it is suggested that the highest preference has to be given to promotional factors (Shapiro et al., 1987). It is found that customers give importance to the product factors in their purchase decision of FMCG. It also proved that customers give value to the price factors when they deal with FMCG purchases. It is once again proved that customers seek the value of the product when they make FMCG purchase decisions.

Table 4 reflects the extraction has been undertaken by using the principal component method and the initial Eigenvalues are formulated from the commonalities table and the same has been developed as extraction sums of squared loadings with the percentage of variance and the relative cumulative percentage. The extraction process has been carried out by using the principal component method, and it is found that the total sum of 7 variables have been extracted and it has been grouped into 3 components which have an Eigenvalue of more than one. It ranges from component 1 to 3 with the cumulative percentage from 26.254% to 100.000%. The percentage variance ranges 3 components of initial Eigenvalues, total, percentage of variance and the cumulative percentage values are 0.439%, 6.270%, and 100.000% respectively. The rotation sum of squared loadings for the above is 1.55%, 16.498%, and 62.342% respectively. It is observed from Table 4, percentage of total variation explained by factor 1 (Promotional factors) 26.254%; by factor 2 ((Product factors) is 19.589% and by factor 3 (Price factors) is 16.498%. From the analysis, it is inferred that total variation explained by these factors put together 62.342%.

Table 5. Rotated Component Matrix

	Component
	1	2	3
Product factors	.750
Promotional factors	.673
Price factors	.626
Social influence		.763
Brand image		.705
Information availability			.807
Convenience			.678

Source: Primary data

Table 5 shows the rotated component matrix which is the matrix of factor loadings for each factor into each variable. It has been formulated by using Principal Component Analysis from the extraction of variables into components and Varimax with Kaiser Normalization has been grouped into 3 components and each component consists of a set of variables and the analysis has been made to identify the influence of one variable over another. As evident from Table 5, factor rotation resulted in the extraction of 3 factors as significant determinants of FMCG purchase decision. Factor 1 loaded across three variables, i.e., product factors, promotional factors, and price factors which have the highest loadings of .750, .673, and .626 respectively which can be jointly termed as product orientation. Factor 2 loaded across two variables, i.e., social influence, and brand image which has the loadings of .763, and .705 respectively which can hereinafter be referred to as social orientation. Factor 3 loaded across two variables, i.e., information availability, and convenience which has the loadings of .807, and .678 which can together be called information orientation. So, altogether these are the three important factors influencing the purchase decision of FMCG. Overall, the results of the research paper provide empirical support for theory-based understanding of the relationship amongst promotional factors, product factors, price factors, brand image, social influence, convenience, and information availability towards purchase decision of FMCGs and also empirically tests and supports the hypothesized effects amongst relationships of the aforesaid constructs.

7. CONCLUSION AND FUTURE RECOMMENDATIONS:

The FMCG sector in India is experiencing a very exhilarating stage. With increased buying power and a growing middle class, the FMCG industry is on track to expand faster. Customers in India today are among the most compacted in the world. They are a bunch of customers who are value conscious, demand, and grow. They are more experimental and excited to try consumer items. The focus of this research was to examine the model of consumer purchasing decision by taking the object of FMCG consumer products with the research site in the state of Kerala. The study involved seven independent variables of product quality, price, promotional factors, brand image, social influence, convenience, and information availability and purchasing decision of FMCG products was the dependent variable. Although the results of this study showed that the seven independent variables were able to influence the decision of the consumer, surprisingly the promotional factors have a great impact followed by product and price factors and a better level of significance compared with the other variables in influencing the decision of the consumer to buy FMCGs. The FMCG market in India is very large in scale and has plenty of opportunities. To capture the emerging markets, the companies which manufacture or market the FMCG brands must follow various innovative strategies in both urban and rural markets. In this context, the company should give their maximum attention towards the quality assurance of the products developed. Companies can achieve quality in FMCG products by providing training to their respective employees in business growth, quality brand creation, and internal and external quality management. The study also reveals that promotional factors have a significant impact on the consumers' purchasing decision making. Consumers only buy their products if they catch their attention at the door. Thus, producers and sellers need to emphasize attractive packaging and the promotion of sales. In this modern marketing world, companies must give reasonable attention to improving their sales promotion activities by making use of mass media to improve their business.

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Received on 26.06.2021 Modified on 23.12.2021

Asian Journal of Management. 2022;13(4):351-357.

DOI: 10.52711/2321-5763.2022.00057

Component	Initial Eigenvalues			Extraction Sums of Squared Loadings
Component	Total	% of Variance	Cumulative %	Total	% of Variance	Cumulative %
1	1.838	26.254	26.254	1.838	26.254	26.254
2	1.371	19.589	45.844	1.371	19.589	45.844
3	1.155	16.498	62.342	1.155	16.498	62.342
4	.849	12.125	74.467
5	.726	10.378	84.845
6	.622	8.885	93.730
7	.439	6.270	100.000