Analysis of the Parental Pressurizing Factors Leading to the Purchase of Products / Services on Children’s Demand- An Empirical Study Conducted in Mumbai
Keywords:
Parental communication, peer communication, me-too syndrome, perception, family structureAbstract
The focus of today’s marketing spectrum has tilted from ‘Kings’ (adults) towards ‘princes and the princesses’ (children) following their huge potential to impact the family purchase decisions. The business world has seen a sea change in the last 2 decades in which the family structure has undergone drastic changes to accommodate the preferences and interests of children before the purchase is made and one must remember that the purchase may be pertaining to the entire family’s requirement too. This paper is a humble effort to understand the pressurizing factors which lead the parents of Mumbai to purchase the products or services demanded by their children. With a sample size of 400 Mumbai parents, the paper has justified the objective with a few startling findings. The time period of the survey was November 2017 to May 2018. By applying the statistical tools like KMO and Bartlett's test, Factor Analysis, Cluster Analysis, Wilks' Lambda etc the researcher was reasonably successful in bringing out a few factors which pressurize the Mumbai parents to yield to their children’s demands.
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