Study Consumer Behaviour Essay

1732 words - 7 pages

A
Research Paper
On
“Perception of Consumers Regarding
OTC Products”

Submitted To:

RITAKA M’AM

Submitted By:

VIKASH L SHAH
118070592028

Introduction

As with many other aspect of healthcare today, the market of OTC medications is undergoing dramatic change. OTC drugs (over the counter) are those drugs that sold without prescription from chemist.

Before some years ago there was small no. of medications for treating minor problems such as cold, skin burn, diarrhea, fever, pain. Now list of OTC medicines has expanded to include agents with claims of beneficial effects of mood, memory, energy and general well being.

The present scenario is as ...view middle of the document...

Advertising frequently reflects the discoveries of motivational research as it applies to consumerism. This is particularly important incase of OTC medications because consumers spend thousands of rupees on its purchase. OTC drugs have directly advertised to consumers over various kinds of media for several decades. This research paper will help to understand the factors that affect on purchasing decisions of buyer.

Traditionally price has operated as the major determinant of buyers’ choice. Price was set by negotiation between buyers and sellers but in prices of medicines there is no “bargaining”. While taking medicine people have some choices. They have some criteria by which they can choose products. The criteria are price, quality, quick relief etc. This research paper will help to know which is the major factor price or quality.

Brand of particular company is a name or sign or symbol or a combination of them, intended to identify the goods or services of one seller or groups of sellers or producers. Particular brand name of company is differentiating the product from the competitors. Consumers’ perception or feeling about product’s attributes and how they perform distinguishes a particular brand from its competitors. E.g. peracitamol is drug name and crocine is brand name. Pcm is main ingredient of it. Metacine, lamolate are other brands which contain pcm. This all brands cure fever, so people can take any of them. So companies want to market their particular brands.
According to monograph of AAFP(American academy of family physicians) general perception of OTC products is as follows.
-OTC medicines are not real medicines.
-A belief that “more is better” when treating headache.
-Limited understanding of the ingredients in OTC medicine.
-A perception that generally OTC products don’t have side effects.

Objectives:

1) Find out the effect of Advertisements sales of OTC products or purchasing decision of buyer.
From this research we can find the effect of advertisements whether that is coming on TV, news papers or magazines.
We can know the most important media to give advertisements of OTC products.
We can know how many percentage of people relay on it.
2) Effect of price on buying behavior.
From this we can know whether people prefer quality of product or price will be the major factor for them.
3) Impact of brand name.
We can know will people see the brand name while taking medicines.

Limitations:
➢ It was not possible for us to make a survey from whole city or other city. Those respondents are taken who are convenient to reach.
➢ Time constraint: To collect the primary data for this project we had the time of a month, so it was not possible for us to cover different places for collecting data.
➢ Sample size taken is small to cover this vast topic.
➢ People don’t have clear idea about OTC...

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