Why People in India Prefer Foreign Product Most Over Domestic Product ?
WHY PEOPLE IN INDIA PREFER FOREIGN PRODUCTS MOST OVER DOMESTIC PRODUCT?
The research proposal is focusing on the topic of Why People in India Prefer Foreign Products Most over Domestic Product. Thereby, it involves research background, research objectives along with critical research questions. Along with these, it involves the Survey monkey for conducting the online survey which can be beneficial to understand the frequent changing behaviours of Indian people to buy foreign goods. The literature review emphasises on the reasoning behind the changing preferences of Indian people to buy foreign products as well as the underdevelopment of Indian economy. In additions, the limitations and the ethical issues are also highlighted and the conclusion is drawn based on the possible outcomes of the research work such as influencing the Indian to buy domestic goods.
Table of Contents
Comparison between Indian and foreign goods
Reasons to buy foreign goods
Impact on Indian economy
Methods of data collection
Appendix: Network diagram
Indian people have a common instinct that goods with higher price must be superior in quality. The International fame of foreign brands attracts a huge number of Indian consumers. Thus, the current research will focus on analysing the changing customer behaviour in respect to buy the foreign products.
In recent times India starts to prefer foreign products than the products from their own nation. Often it has been seen that international fame of foreign products attracts Indian people. More interestingly, people think that expensive goods are always better.
The research work will be focused on determining the issue that is increasing preference of Indian people towards the foreign goods. As described by Balabanis and Diamantopoulos (2016, p.60), changing customer behaviour for buying foreign products is a critical issue for the economic development of India. This is a critical barrier for developing the GDP rate of India. The research report will emphasise on the analysis of customer preference for buying foreign products along with its effect in Indian economy.
To understand the reasons for preference of foreign products over Indian products.
To evaluate the impact on Indian economy due to preference of foreign products over domestic products
To analyse the possible threats on India owing to changing consumer behaviour
To recommend strategies for increasing people’s interest for buying Indian products
What are the reasons to buy foreign goods over Indian products?
Which is the essential impact on Indian economy due to preference of foreign products over domestic products?
What are the possible threats on India owing to changing consumer behaviour?
Which strategies need to be followed for increasing people’s interest for buying Indian products?
The research will take the lead to describe the possible reasons behind the changing customer preference to buy foreign products. Besides, it will be helpful to influence the people for buying varieties of domestic products. Besides, this will affect the government of India to invest much for producing higher end and technologically superior branding products.
As opined by Asshidin et al. (2016, p.641), attractive packaging of foreign products attract a huge number of people. It has been observed that some products such as cold drinks are made both in India and foreign countries, but the people of India prefer buying those foreign drinks due to its profound level of advertisements and branding. It has been also seen that most of the Indian citizen like to buy foreign goods including their daily commodities such as toothbrush, shampoo, various beauty products and even a wide variety of packaged food products.
The Indian people prefer foreign goods for some reasons. As stated by He and Wang (2015, p.1226), most people think that using foreign products will influence their social status. In addition, incorporation of better technology is helpful for the foreign companies to enhance their rate of production which affects consumer behaviour. In words of Ortega et al. (2015, p.435), lack of entrepreneurial skills and more theoretical concept among Indian leads to increase their willingness to buy foreign goods. Lastly, attractive appearance of the foreign goods influences the purchasing behaviour of the Indian people.
Increasing preference for foreign products affects the development of Indian economy. As mentioned by Shavitt and Cho (2016, p.151), frequent change in customer buying habits creates a great barrier for economic development. In this respect, when the Indian people buy something from the sellers of America, Japan, Korea, Europe, those countries get benefited in terms of economic development. Thus in the last few years the decrease in Indian economy is prominent which is 1/20th in comparison to UK (Bbc.com, 2019).
In order to perform the research work online survey through Survey monkey will be done taking into consideration about 150 numbers of individuals.
Non purposive random sampling technique will be used to select the individuals involved in online survey method.
In order to analyse the responses of the online respondents’ critical problem can be created on the presence of false information on customer buying habits. Besides, lack of frequent analysis of the responses may lead to overlook necessary information based on changing consumer preferences for buying foreign goods.
The online survey method will be greatly helpful to analyse the responses of a huge numbers of respondents. Along with this, considering various journals on the particular topic will be helpful to have a lot of information over the specific topic. Presence of valid information and efficient analysis will be beneficial to have lots of necessary information for conducting the research.
The deductive research approach will be selected for conducting the research work. It will be helpful to gather lots of information in a strategic manner and thereby will lead to efficient formulation of research objectives (Cohen and Munoz, 2016, p.218).
The current research work will consider the positivism research philosophy. According to Cohen and Munoz (2016, p.90), this research philosophy focuses on the process of quantitative data collection method. Thus, it will be helpful for the researchers to gather and analyse data in an efficient way.
The descriptive research design will need to be followed for performing the research work. This will be helpful to provide a descriptive idea over the particular topic as well as proper ways to collect and analyse data.
In order to conduct the research work the researchers will need to follow the legal practices of the country. Besides, maintaining data genuineness and data protection will be the greater ethical issues that can be faced by the researchers.
The researchers may face some obstacles while conducting the research work. As the survey will be performed through online process, thus it can involve false information and lack of efficient analysis may lead to reduce the efficiency of the researchers.
The frequently changing of consumer behaviour for buying foreign products will lead to affect the development of Indian economy. The concerned research work will focus to identify the key preferences of the Indian consumers in respect to buy the foreign goods. Besides, it will be helpful to analyse the responses of huge number of people through online mode. Moreover, it will appear to be beneficial to influence the Indian people to buy the domestic products by analysing the underdevelopment of economy to them. Lastly it has been stated that this research work will be greatly advantageous to understand and evaluate the reasons to buy the foreign products rather than the domestic products of India.
Asshidin, N.H.N., Abidin, N. and Borhan, H.B., (2016). Perceived quality and emotional value that influence consumer’s purchase intention towards American and local products. Procedia Economics and Finance, 35, pp.639-643.
Balabanis, G. and Diamantopoulos, A., (2016). Consumer xenocentrism as determinant of foreign product preference: A system justification perspective. Journal of International Marketing, 24(3), pp.58-77.
Bbc.com (2019). BBC. Available at: https://www.bbc.com/news/business-45369884 [Accessed on 15th March 2019]
Cohen, B. and Munoz, P., (2016). Sharing cities and sustainable consumption and production: towards an integrated framework. Journal of Cleaner Production, 134, pp.87-97.
Frade, I. and Ribeiro, A., (2015). Bike-sharing stations: A maximal covering location approach. Transportation Research Part A: Policy and Practice, 82, pp.216-227.
He, J. and Wang, C.L., (2015). Cultural identity and consumer ethnocentrism impacts on preference and purchase of domestic versus import brands: An empirical study in UK. Journal of Business Research, 68(6), pp.1225-1233.
Ortega, D.L., Wang, H.H. and Olynk Widmar, N.J., (2015). Effects of media headlines on consumer preferences for food safety, quality and environmental attributes. Australian Journal of Agricultural and Resource Economics, 59(3), pp.433-445.
Shavitt, S. and Cho, H., (2016). Culture and consumer behavior: the role of horizontal and vertical cultural factors. Current opinion in psychology, 8(4), pp.149-154.
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