Predicting changing pattern: building model for consumer decision making in digital market
AffiliationBML Munjal University
Graphic Era University, Dehradun, India
State Institute of Engineering and Technology, Nilokheri, India
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AbstractPurpose Consumers have the multiple options to choose their products and services, which have a significant impact on the pattern of consumer decision making in digital market and further increases the challenges for the service providers to predict their buying pattern. In this sense, the purpose of this paper is to propose a structural hierarchy model for analyzing the changing pattern of consumer decision making in digital market by taking an Indian context. Design/methodology/approach To accomplish the objectives, the research is conducted in two phases. An extensive literature review is performed in the first phase to list the factors related to the changing pattern of consumer decision making in digital market and then fuzzy Delphi method is applied to finalize the factors. In the second phase, fuzzy analytic hierarchy process (AHP) is employed to find the priority weights of finalized factors. The fuzzy set theory allows capturing the vagueness in the data. Findings The findings obtained in this study shows that consumers are much conscious about innovative and trendy products as well as brand and quality; therefore, the service providers must think about these two most important factors so that they can able to retain their consumer in their online portal. Practical implications The analysis shows that “innovative and trendy” is the first priority factor for the consumers followed by “brand and quality” and “fulfilment and time energy.” The proposed model can help the marketers and service providers in predicting customers’ preferences and their changing pattern efficiently under vague surroundings. The outcomes of this research work not only help the service provider to update their products and services according to consumers’ needs but can also help them to increase profit and minimize their risk. Originality/value This work contributes to consumer research literature focusing on problem evaluation in the context of changing pattern of consumer decision making in digital era.
CitationKumar, A. et al ‘Predicting changing pattern: building model for consumer decision making in digital market ‘, Journal of Enterprise Information Management, 31 (5), pp.674-703. doi: 10.1108/JEIM-01-2018-0003
JournalJournal of Enterprise Information Management