Advances in Consumer Research
Issue 2 : 285-297
Original Article
The Matrix of Products and Occasions a Structured Framework for Market Segmentation
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1
Incharge Director and HOD—Department of Finance, Professor, SIES College of Management Studies, Nerul (E), Navi Mumbai 400706
2
Assistant Professor, Vijay Patil School of Management, D Y Patil Deemed to be University—Nerul, Navi Mumbai - Maharashtra
3
Professor & Controller of Examinations, NSB Bangalore, Affiliated to Bangalore University,Bangalore, Karnataka-560099
4
Associate Professor of Finance, SIES College of Management Studies, Nerul (E), Navi Mumbai 400706
Abstract

Product category and usage occasion are two factors of consumer behavioral patterns which directly affect purchasing decisions. The multifaceted research question of this paper is twofold: exploring the ways in which significant product categories are related and examining the relationships between different products depending on their occasions. The study uses survey data of consumers (N=500) and transactional data, descriptive statistics (χ2 test, ANOVA, and CFA) and SEM with SPSS and AMOS. The result confirms the relationship between product categories to occasions (χ² = 18.45, p < 0.001) where, on the one hand, luxury products are required during formal occasions and on the other, FMCG products are consumed uniformly across various factual uses. There is an F value of 4.62 in ANOVA tests which signifies that there are changes in preferences of consumers, and the result of p < 0.01 supports the calculations. In the context of the SEM results, income level with a ( β = 0.72, p < 0.001) and social influence with β = 0.58, (p = 0.004) were identified as the significant factors influencing the choice of product. This research further establishes the impact of using occasion on the marketing techniques and gives credit to a model that speaks of idea of product allocation. 

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