RESEARCH

METHODOLOGY
Journal Review
CIA 1 -A
SUBMISSION DATE -
28/01/20223

SUBMITTED BY -

Khushi Soni - 21211696

Sanskar Bageshwar - 21211739

Piyal Ray Choudhury - 21211721

Shashank Singh Tomer - 212111781

SANSKAR BAGESHWAR 21211739

1) Impact of COVID-19 on consumer behaviour, technology, and

society: A literature review and bibliometric analysis

INTRODUCTION: This study throws light on the impact of COVID-19 pandemic on consumer
behaviour. This study fulfils this need by identifying knowledge generated by 70 relevant studies
in the Scopus database, indexed up to January 5, 2021, for systematic processing However, this
study is evidently among the first to review the literature on COVID-19 and consumer behaviour.
The study is necessary because, beyond its similarities with other disruptive events, the COVID-
19 crisis has several fundamental differences.

OBJECTIVES OF THE RESEARCH PAPER: This study primarily describes and

systematizes the existing literature on consumer behaviour during the COVID-19 pandemic. This
objective can be broken down into three specific objectives. Thus, this study aims at:

1. The study conducts descriptive and bibliometric analyses of the 70 selected COVID-19
and consumer behaviour articles.
2. To establish the limitations and gaps in existing knowledge, thereby ascertaining the
scope for future lines of research
3. To generate a structured systematization of their contents and results Accordingly,
recognizing the multidisciplinary nature of consumer behaviour, researchers from
marketing, business administration, psychology, and economics teamed up to bring
together experts in diverse research methodologies, such as machine learning and big
data techniques. The study commenced when COVID-19 became a pandemic in March
2020

STATISTICAL TOOLS:

1. Variables
2. Descriptive and inferential statistics using tables
3. References
4. Summary
5. Bar graph
 OBSERVATIONS:

1. Government regulations and technology stand out as fundamental forces at the macro
level. At the micro-level, specific technological applications like social media and
business platforms, social group and family pressure, and marketing strategies stand out
2. Regarding purchasing behaviors, the use and adoption of technologies like e-commerce
platforms have had a prominent place in consumer behavior during the pandemic.
3. That in the aftermath of calamities or unfavorable events, such as the death of loved ones,
di-vorces, and illness, consumers get rid of products that remind them of difficult times
and, thus, buy new products
4. The study employed co-occurrence analysis to establish the topics of interest in the set of
articles on COVID-19 and consumer behavior. The analysis was performed in two ways
to obtain more reliable results: keyword-based and title- and abstract-based.
5. During the COVID-19 crisis, consumers use information as a valuable factor in decision-
making, as they actively or passively seek it. Social media is a common source of
information. Popular topics regard food acquisition and storage, health issues, social
distancing, and economic issue
6. The study employed various bibliometric and literature systematization techniques, to
describe the characteristics and interrelationships of the 70 articles and systematize their
content. Bibliometric techniques estimated the main descriptive statistics of the relevant
body of knowledge
7. Marketing influences are in the consumer’s micro-environment. They are vital, because
they are tools that companies can design and control. Thus, consumer behavior models
usually consider them separately from other influences, such as those discussed in the
preceding section. The main marketing tool is the product or service. Others are prices,
distribution, and communication strategies

CONCLUSION: This research paper concludes that due to this pandemic consumers
preferences have also been changed in certain areas. For example, people have shifted to online
shopping rather than going to the market . Consumers have now adapted to the new normal
because of this pandemic.
RESEARCH GAP: The research gap is that as we see the current situation that now more
people go to markets to buy their necessities . People who were forced to buy online during the
first wave of COVID-19 have again adapted to go outside and do their day to day activities when
COVID was not so much spread .

REFERENCES:
https://reader.elsevier.com/reader/sd/pii/S0040162521006120?token=3AD57225DBD9E
EF09808C421D7782A26952C954EA14B1327233A1F6395556FC9299171B84F075BE
E584E07AC6DFB4245&originRegion=eu-west-1&originCreation=20220123150015

SANSKAR BAGESHWAR 21211739

2)Review Paper on Factors Influencing Consumer Behavior
INTRODUCTION: Organizations for acquiring their commercial success, it is significant that
managers know consumers behavior, the relationship among the consumer behavior and
marketing course of actions is emphasized because the success of organizations’ marketing
course of actions depends upon managers’ recognizing’ of the consumer behavior.

OBSERVATIONS:

1. The study of consumer behavior recommends that consumers experience or go through

five steps of decision-taking process whenever want to make a purchase.
2. Little level of involvement products are purchased approximately regularly, Limited
decision taking is created by combination of a lengthy buying decision and a daily one.
3. Consumers that take part in this kind of purchaser behavior usually understand what kind
of product they desire even though, are attempting to choose a brand. Buying clothes is a
proper illustration of in what way limited decision-taking goes. A customer that requires
a new pair of shoes goes into a shop looking for shoes but seeks a sort of brand to specify
which pairs are the best suit.
4. Marketing managers are always eager to understand more about the consumer behavior;
hence they are able to prepare better communication and advertising campaigns about
their products and services.
 OBJECTIVES:

1. To understand the types of Consumer behaviour.

2. To understand factors affecting the Consumer Behaviour.

STATISTICAL TOOLS:

1. References
2. Maslow’s model

CONCLUSION: Consumer behavior refers to a process in which consumers select, buy and
utilize products and services to meet consumers needs and desires. Different processes are
conducted in the consumers purchasing behavior

REFERENCES:

https://www.researchgate.net/publication/342876391_Review_Paper_on_Factors_Influenci
ng_Consumer_Behavior

KHUSHI SONI 21211696

3)Ecological consumer behaviour:

INTRODUCTION:

Concerns regarding the environment have increased in the past 3 decades. Earlier people were
intended to discover the main environmental problems. Eventually, consumers became aware of
the environment, and their purchases and looked to the institutions to behave in the same way. In
recent times people have understood that it is not only the responsibility of firms and institutions
but also theirs as consumers. However, by the decisions of consumers, choosing one product
over another affects the supply of goods and services.

As the need for business to access opportunities arise in the ecological market, the
focus remains on the consumer’s profile characteristics.
OBJECTIVES:

1. This study seeks to define the relationship between three components(Vining and Ebreo,
1990) affect commitment (Af), verbal commitment (VC), and actual commitment (AC).

RESEARCH METHODOLOGY: A pre-test questionnaire was distributed to 150 residents of

Zaragoza (Spain). This pre-test was created to identify any potential flaws in the questionnaire. It
was amended, and a final questionnaire was distributed to a random sample of 595 people in
March and April 2001. A total of 573 were found to be genuine (96.3 percent ).
The questionnaires were presented to residents and collected once they were completed by a
team of interviewers. In the event that respondents were elderly, a personal interview was
offered as an alternate technique in case they had difficulty answering some of the questions.
The second section of the survey measured and rated attitudes using Maloney et al(1975) .'s
updated scale. Three of their four scales were used: Af, VC, and AC.
The dependent variable was the subscale AC, which was used to measure environmental
behavior. Af and VC were used to assess environmental affect and attitude factors, respectively.
These were regarded as unrelated variables. In analyzing some of the causal links in the
structural equation model, the environmental attitude was viewed as a dependent variable.

OBSERVATION: People in Spain are calling for a strong agency to address non-ecological
practices including corporations as consumers. Consumers may have a favorable mindset and
desire to act in an environmentally responsible manner, but they are unable to do so because they
lack the necessary resources. As a result, determining the extent to which consumers are
responsible for their behavior is critical. To solve this situation, government intervention or
competent institutional involvement is required. This study found that consumers are concerned
about environmental issues (knowledge, worry), but are less concerned about their purchasing
habits and everyday routines.

This could be because people believe that their responsibility as consumers for environmental
consequences is limited and that the burden of proof falls squarely on the shoulders of
government and economic institutions. As a result, public awareness programs encouraging
consumers to be more ecologically conscious would be suitable. Consumers could also be
persuaded by institutions to speak up and make decisions about their shopping habits that support
environmental standards.
RESEARCH GAP: The cultural environment in Spain is not the same as in the USA and
because American scales were used in this study, it was considered necessary to validate them.
The EQS program was used to validate the Af, VC, and AC scales. EQS is a general-purpose
tool for exploring multivariate data utilizing modern graphical and charting methods, as well as
the fitting and testing a number of Structural Equation Models (SEM). Cronbach's alpha (Af =
0.824; VC = 0.696; AC = 0.621) was used to identify the relevant scale items and their
contribution to dependability. This demonstrated each scale's internal consistency, and it was
easy to demonstrate that they exceeded Miquel et al0.60 .'s threshold (1997). Some elements had
to be removed from this analysis because their factor loadings were less than 0.50. The Af scale
(items 2–5) has the highest alpha. The environmental attitude scale and the ecological behavior
scale, on the other hand, are both within the previously stated limits.

CONCLUSION: The impact of numerous factors on ecological behavior is investigated in this

study, which suggests and evaluates a conceptual model. The structural equation model's
findings back up some of our claims. confirm the significant linkages that have been
hypothesized Environmental factors have an impact on ecological behavior. Policymakers and
green marketers in Spain have recently grown more conscious of the harm being done to the
environment as well as the economic ramifications of this. So, what's new? The market is
presenting both opportunities and problems. As a result, It's critical for producers to understand
how the new consumer behaves. To respond in a way that addresses their needs and
emotions/attitudes.

REFERENCES:

https://sci-hub.hkvisa.net/10.1111/j.1470-6431.2006.00565.x
KHUSHI SONI 21211696

4)REVIEW ON SUSTAINABLE CONSUMER BEHAVIOUR

INTRODUCTION:

Sustainable consumer behavior is behavior that attempts to satisfy present needs while
simultaneously benefiting or limiting environmental impact. Consumption is inherently linked to
sustainability because every decision of what to buy, how much to buy, how much to consume,
and how to dispose has a direct impact on the environment and future generations, and the
cumulative effect of each individual consumer’s consumption is devastating.

OBJECTIVES:

The first objective is to review and synthesize research on sustainable consumer behavior, and in
doing so provide an organizing framework that identifies four research foci: cognitive barriers,
the self, social influence, and product characteristics.

The second objective is to specify important research gaps that provide opportunities for
motivating sustainable consumption.

Together, these objectives contribute to the overarching goal of providing guidance for firms,
policy makers, and consumers themselves to empower sustainability in their communities

OBSERVATIONS:

Research has consistently demonstrated the benefits of communicating social norms across a
variety of domains, indicating that social norms can influence changes in people’s energy
consumption. Research shows that social influence, and social norms in particular, powerfully,
predictably, and pervasively influence sustainable behaviors.

In many ways, marketing is the antithesis of sustainability. Driven by insights revealed in

research into the psychology of buyers, marketers have strategically used product design,
advertising, and other marketing cues to drive people to purchase and consume more, with
detrimental effects on the environment. However, understanding consumer decision-making is
also the key to empowering consumers to behave more sustainably.
The majority of research has investigated low-impact, frequently enacted behaviors (e.g., turning
out lights, reusing towel rather than high-impact but infrequently enacted behaviors (e.g.,
installing solar panels. Although these behaviors are often treated the same, it is likely that
decision-making is different for high- and low-impact behaviors. High-impact behaviors involve
much more depth of processing and consideration of trade-offs than do low-impact behaviors
(e.g., trade-offs between financial costs and effectiveness)

CONCLUSION:

People are motivated to engage in sustainable behavior to avoid discrepancy between their self-
standards and their behavior. Research has clearly demonstrated that moral behaviors signal to
the self and boost moral self-perception. Because purchasing environmentally friendly products
self-signals individuals’ values of sustainability and social and moral consciousness, the moral
credentials conferred by purchasing green products can ironically lead to selfish and morally
questionable behavior. Purchasing conspicuous green products, such as a Toyota Prius, is a
demonstration of one’s willingness and financial ability to incur the costs of suboptimal products
for the good of society.

RESEARCH PROBLEMS:

Sustainable consumer psychology research in areas that is also likely to contribute to our
knowledge of sustainable behavior, such as attitude formation, information processing, moral
regulation, emotions, psychological ownership, goals, power, and product design, has yet to
receive attention.

RESEARCH GAP:

Self-defensive behaviors can also lead consumers to willfully ignore ethical attribute information
to avoid negative emotions when making purchase decisions

REFRENCES:

https://sci-hub.hkvisa.net/10.1002/arcp.1045
PIYAL RAY CHOUDHURY 21211721

5)IMPACT OF SOCIAL MEDIA ON CONSUMER

INTRODUCTION:

Social media is a relatively recent phenomenon. Over the last decade, the World Wide Web has
seen a proliferation of user-driven web technologies such as blogs, social networks and media
sharing platforms. Collectively called social media, these technologies have enabled the growth
of user-generated content, a global community, and the publishing of consumer opinions. The
presence and abundance of these new information sources is influencing the decision process of
consumers for complex purchases.

OBSERVATIONS:

1. Social media usage influences consumer satisfaction in the stages of information search
and alternative evaluation, with satisfaction getting amplified as the consumer moves
along the process towards the final purchase decision and post-purchase evaluation.
2. The social media revolution has led to new ways of seeking and obtaining information on
the multitude of products and services in the market. It has enabled consumers to connect
and discuss brands with each other quickly and easily.
3. The impact of the internet varies on the various stages of decision-making. Initially, the
internet supported only the information search stage (Karimi, 2013), but recent trends in
social media, online decision aids and recommender systems have extended the internet’s
influencing role to all the decision stages.
4. The quality of online product reviews, characterised by perceived informativeness and
persuasiveness, together with the perceived quantity of reviews, are found to have a
significant positive influence on consumers’ purchase intentions.
5. Social media is perceived as a more trustworthy source of information when compared to
corporate communications and advertisements. Therefore, consumers are turning away
from traditional media such as television, magazines, and newspapers as sources to guide
their purchases
RESEARCH PROBLEMS:

Many studies focus on consumer behaviour in the online shopping environment, but without
consideration of the effects of the internet on the different phases of consumers’ decision
process.

RESEARCH METHADOLOGY:

Retrospective questioning through a questionnaire survey was chosen for the study. The research
focuses on complex purchases that require extended problem solving, where social media is
more likely to be utilised. Subjective measures are evaluations of the decision-maker, capturing
what is most important to the individual with respect to the decision. Survey questions were
designed to measure the subjective evaluations of the respondents regarding the quality of the
stages, in order to study the effectiveness of their decision-making. The survey was conducted
through an online questionnaire created with the Qualtrics survey tool in two languages: English
and Thai. Convenience sampling with snowballing (requested forwarding) was used to distribute
the online questionnaire through emails, messaging applications (WhatsApp and LINE), and
social media channels (Facebook and Twitter). Respondents who could not be reached through
these channels were personally contacted and asked to fill out the questionnaire on a tablet
computer.

STATICAL TOOLS:

1. Descriptives and univariate variables

2. Correlations
3. Regression analysis

RESEARCH GAP:

This report shows only the effect of social media on consumer buying decisions. However many
other forms of advertisement also have an effect on consumer decisions.

The study shows that the use of social media improved satisfaction for consumers during the
initial stages of information search and alternative evaluation but did not help much in improving
satisfaction in the purchase decision stage, nor in the post-purchase evaluation.

CONCLUSION:

There is no doubt that social media are now important sources of information for consumers in
their purchase decision-making, especially in instances of complex buying behaviour. More and
more people are turning to consumer opinions online due to the ease of access, low cost, and the
wide availability of information. Peer recommendations on social media are viewed as an
eWOM and as more trustable sources of information when compared to advertisements and
other marketer-generated information.
REFRENCES:

https://www.inderscienceonline.com/doi/abs/10.1504/IJIDS.2019.101994

PIYAL RAY CHOUDHURY 21211721

6)The effect of corporate associations on consumer behavior

INTRODUCTION:
Consumer loyalty is a key goal for every business, especially in difficult economic times like the
one that hit worldwide markets in the summer of 2009 when this paper was published. The
consumer is the most important player in this scenario. The corporation has limited resources,
and its loyalty has a direct impact on its revenues. (Edvardsson et al., 2000). Furthermore, it
appears that it is much more so during times of uncertainty. It's more important than ever to keep
customers by taking steps to earn their trust. especially in the wake of so many global crises –
Enron, Exxon, Bhopal – and Financial meltdowns. Today, restoring a company's image in all of
its dimensions is essential. for this reason.

OBJECTIVE:
1. Proving the effect of corporate associations on consumer behaviours

RESEARCH METHODOLOGY:
The approach was tested in the financial sector, which has some advantages for its businesses in
that clients are more ready to form long-term connections with their financial services provider
due to the high risk they perceive in the decision-making process. Furthermore, financial
products and services are extensively available among Spanish consumers, and they play a
significant role in their purchasing decisions. Finally, according to the Spanish Index for
Corporate Reputation 2008 (MERCO), the industry is one of the most well-known in Spain, and
it has become one of the world's largest investors in corporate social responsibility (Ogrizek,
2002; Decker, 2004).These data support the assumption that consumers of financial products and
services should be in a better position to evaluate businesses because they have access to more
information about commercial expertise and corporate social responsibility than consumers in
any other industry.
 Personal surveys of financial services users were conducted as part of the
fieldwork. Individuals above the age of 18 who hold a savings product in at least one financial
company are referred to be financial services consumers. The study did not focus on any one
corporation because data was gathered for a variety of companies.
If a respondent had many financial relationships, they just had to answer questions about their
primary supplier. In this method, information might be gathered from users with sufficient
company knowledge and experience.

FINDINGS:
A structural equations model with all of the variables previously described was created to test the
hypothesis. First, the entire model was subjected to a first-order confirmatory analysis, using the
same guidelines for reliability, validity, and goodness of fit as in the measurements section
(Anderson and Gerbing, 1988; Steenkamp and Van Trijp, 1991; Ullman, 1996; Hair et al., 1999).
The results (see Table I) show that all of the scales studied internationally have good reliability,
convergent, and discriminant validity. The Comparative Fit Indexes (BBNI 14 0:906, BBNNI 14
0:911, CFI 14 0:926, IFI 14 0:927) indicate the model's applicability.
The structural equations model was then put to the test (Figure 2). The likelihood value
for the chi-square statistic in relation to the fit indexes is 0.000, which could indicate that the
model does not adjust appropriately to the data provided. However, the size of the sample and
the minimum value of the maximum likelihood estimation (MLE) are both intimately related to
chi-square, with obvious implications for the test (Hair et al., 1999). As a result, the researchers
recommend combining the statistic with other fit indexes (Lings and Greenley, 2005). In this
way, Bentler and Bonnett (1980) propose a normalised incremental fit index as an extra measure
of a causal model's overall fit as a complement to Chi square. In particular, the standard chi-
squar.
Finally, the hypotheses were put to the test. For starters, CE connections are found to be
directly and favourably associated to both identification and consumer pleasure. As a result, H1
and H2 cannot be ruled out. Furthermore, the values found for the CE betas in their relationship
with both variables are relatively similar, indicating that CE linkages have a similar influence on
cognitive and affective responses.

CONCLUSION:
In this study, the authors attempted to delve deeper into the concept of corporate associations by
examining two of its main dimensions – commercial expertise and corporate social responsibility
associations – and their role in the formation of attitudinal loyalty. This study aligns with the line
of research started by Brown and Dacin (1997).
RESEARCH GAP:
Because there was no quantifiable evaluation of how significant different dimensions of CSR –
legal, ethical, and philanthropic – are to consumers in this study, it's impossible to say which
components of the idea are more essential in their decision-making. Previous research (Maignan,
2001; Bigne' et al., 2005) has found that some dimensions are more essential to consumers than
others. However, none of the studies to date have compared consumer evaluations of this
criterion to business expertise.
This analysis could be useful in determining whether or not their claims are true in a larger
context, such as the one provided in this study.

REFRENCES:
https://www.emerald.com/insight/content/doi/10.1108/03090561311285529/full/pdf?title=the-effect-of-
co rporate-associations-on-consumer-behaviour
SHASHANK SINGH TOMER 21211781

7)From dreaming to believing: a review of consumer engagement

behaviours with brands’ social media content across the holiday
travel process
INTRODUCTION:

Both the business and society continue to be shaped by technology. Platforms like social media
have transformed the way in which interaction and engage with brands have drastically changed
and improved. Marketers have increasingly adopted social media platforms as pivotal consumer
engagement avenues.

OBJECTIVES:

1. To know about the online platforms that helps in engaging people to travel
2. To have information how people behaviour react towards brands that helps them to find
suitable place
3. To understand how people shift to pre booking or post booking payment
4. To online treatment is now a better option than having an agent
5. The new perspectives towards online mode

STATISTICAL TOOL:

1.Table
2.Figures/ Graphs OBSERVATIONS:

It was observed that the preferences have been shifted towards online a lot because it helps them
to get the information through different sites with great offer of exchange and price check and
discounts. This created a good check on the minds of people because it was helpful for them to
have cross check on the same and much more convenient to shift the preferences and book for
the travel at one go. People often proposed to have or plan a trip in three ways: pre decision, the
decision stage and the post decision stage and over that seeking advice or check up from their
knowns and information and communication technologies really helped covering up every sector
of plot.
 Social media really placed a huge ease and importance on the young mind travellers and though
there are adults who finds online absurd and choosing a destination online social media really
places an important role recently impacting the destination visits yet recently it’s also revealed
that people online prefer to have better knowledge regarding accommodations but also seek
hedonic pleasure while searching for the informatio

CONCLUSION:

This research paper calls for increased attention to be paid to the antecedents and consequences
of consumer engagement behaviours of media users towards hotel brands content across all
stages of the travel cycle and as consumers continue to rely on such technologies for gaining
purchase information an increased focus from brands on targeting consumers more effectively at
distant stages for their marketing success.

RESEARCH GAP:

What i observed that recently because of covid peak the travel is being reduced though
previously agents had some opportunities but it’s has decreased over that hotels and travel
destinations suffered because of the pandemic so travelling via online or offline has reduced a lot
affecting the pre, current and pst purchases and tourism market.

REFRENCES:
https://www.tandfonline.com/doi/abs/10.1080/10548408.2019.16242

SHASHANK SINGH TOMER 21211781

8)An exposition of consumer behaviour in the financial services
industry
INTRODUCTION:

The paper is presented in a model and developed which attempts to articulate and classify
consumer behaviour in the purchasing of financial products and services. Previously consumers
had to accept the form and price of financial instruments as well delivery channels and therefore
had no other choice but locked into buying patterns and had little incentive to change. But with
the emergence of new technology consumer are now more disposed to change their buying
behaviour while purchasing the financial products. Since the era is now based on the preferences
of customers/ consumers it is important for the banks to respond to these changes and try to
improve for the better understanding and influence consumers’ buying behaviour
OBJECTIVES:

1. To have better understanding of consumer behaviour in the context of financial behaviour

2. How consumers have became independent on making choices about the purchase of policies
and making financial choices which earlier was controlled by banks themselves
3. Are the customers able to choose complex finance easily or still lack at some parts of it ?
STATISTICAL TOOL:

1. FiSure data/ graphs

2. References

OBSERVATIONS:

-To better understand consumer behaviour in the context of the financial services industry, a
matrix has been developed which is based on the work of Dwyer et al. (1987) and Thibaut and
Kelly (1959). The approach is based upon the ``ideal type'' methodology outlined by Max Weber
(1949).

1. Evidence from the focus group discussions of consumers acting in a repeat-passive mode
of behaviour included their relationships with banks providing their current accounts.
From the interviews it became apparent that consumers were confident in their ability to
open a current account and that the choice of bank was often determined by convenience
considerations such as the location of the branch in relation to where they worked and
lived.
2. Evidence from the focus group discussions of consumers acting in a rational-active mode
of consumption indicated that this was more likely to occur for purchases of basic
insurance products. In this context, many of the consumers expressed fairly high levels of
confidence, participation and control in making the purchase decision
3. Evidence from the focus group discussions of consumers acting in a relational-dependent
mode of consuming included their behaviour with respect to purchasing complex
financial instruments such as investment and pension products. From the discussions it
soon became apparent that many of the respondents expressed a lack of confidence and
knowledge with respect to the decision making context for these products.

RESEARCH METHODOLOGY:

It was decided to use focus discussion groups with customers based on the effectiveness of the
prior study (Harrison, 1997) and following Shostack's (1977) proposal of understanding
consumers' evaluation processes by standing "in the shoes of consumers."

However, due to the project's budgetary limits, only three of these groups were able to be
formed. As a result, researchers sought input from a diverse cross-section of the UK population,
including people of all ages, socioeconomic groups, and geographic locations. Three groups
were formed in this way, with professional recruiters in London (the south), Leeds (the north),
and Oakham (the east) (the Midlands). Each group was made up of seven persons and lasted
about two hours. Males and females in the B and C1 socioeconomic groups made up the London
group, which ranged in age from 18 to 29 years old. The Leeds group was made up of C1 and C2
females between the ages of 30 and 47, whereas the Oakham group was made up of B and C1
males between the ages of 48 and 65.

CONCLUSION:

In light of research data acquired from focus groups, this paper discussed and examined a
consumer behavior matrix. talks with a diverse group of customers on their financial purchasing
and monitoring services. The conclusions of the study have shown that individuals' purchasing
decisions The type of environment has a significant impact on behavior. purchasing a financial
product, and this is consistent with Bateson's study McKechnie (1992), Shostack (1977), and
McKechnie (1977). Betts (1994). This has improved our understanding of how people purchase
various financial products, but perhaps more importantly, it has highlighted the importance of
distribution channels. In light of these findings, we might speculate that one unforeseen
consequence of the introduction of new electronic-based delivery channels may be the
emergence of new at-address exchanges, which will have a significant impact on the "process of
service."

RESEARCH GAP:

It’s been observed that many people were not able to understand complex financial
understanding but now since many applications and free learning sites and sessions taking place
it’s very easy to understand the depth of complex finance and understand how to use or invest in
them properly without having any problem and make wise and proper decision.

Reference: https://sci-hub.hkvisa.net/10.1108/02652320010315325