Factors affecting the buying behavior of smartphones and electronic gadgets in modern dynamic environment

Abstract

In the present scenario the technology is changing rapidly; which changed the way of conducting the business. In the recent past years, there is vicious competition in the market which made the electronic market very insecure. There has been a phenomenal development both in their product sophistication and their fast and adoption globally, since the mobile phones are launched. The mobile phone and electronic gadget market are one of the most tempestuous markets due to rapid change in technology and increasing competition. With this the attitude of consumers is also changing, as consumer behavior is the study of buying tendencies of consumers. The purpose of this paper is to study and assimilate the existing work of the different researchers to provide the framework for identifying the different factors which influence the consumers while purchasing the smartphones and gadgets. It is found from the various researchers that there are some physical attributes as well as the functional attributes of the product that affect the consumers. Consumer buying is strongly determined by various characteristics such as cultural, social, psychological and personal. This study also revealed that although physical parameters affect the most but there are some internal and external factors affect the buying decision such as social, demographic, economic environment and micro & macro policies. This study helps the marketers to understand the buyer behaviour and help them in designing the appropriate strategies according to the market environment.