Decision Making Process for Fast Moving Consumer Goods: An Application of Consumer Style Inventory
Author(s)
Md. Motaher Hossain, K. M. Zahidul Islam, Habib Md. Arif KhanAbstract:
This study attempts to utilize a framework which integrates several perspectives on consumer decision making towards Fast Moving Consumer Goods (FMCG) and hypothesizes possible links between several basic constructs. Eight mental characteristics were adopted from the Consumer Style Inventory (CSI) developed by Sproles and Kendall (1986) to identify the preference level of consumer on different situations and each of them independently represents important mental approaches to consumption. Different statistical techniques were applied. Reliability test was used for measuring applicability and validity for FMCG consumers. One-sample t-test has been applied to determine whether the sample comes from a population with a specific mean followed by descriptive statistics and correlation analysis. It may be deduced from the correlation matrix that eight mental characteristics are highly positively correlated and the results of hypotheses tests suggest significant relationship between FMCG and the selected mental attributes.
Keywords: Consumer Styles Inventory (CSI), Fast Moving Consumer Goods (FMCG), Consumer Decision Making.
JEL Classification: L67, M31, M39