Influence Of Technological Innovations on Consumer Buying Behaviour

Abstract

A combination of increased penetration of the Internet and the fast-paced growth of technology is changing the need and buying patterns of consumers (Karenhka, 2013). With over 50% of the population of India being under 25 years of age, and 65% being under 35 years of age (National Statistical Commission, 2017), the younger generation has grown up with technology. They are heavily influenced by the rapid penetration of the Internet, the availability of a large amount of data, and recent innovations in mobile devices (Han Wai, et al., 2016). They are adept at using the latest gadgets and web-based services, online 24x7 right through the year. This generation is very well connected in social circles through websites like Facebook, WhatsApp, and LinkedIn, parading and flaunting their opinions in their circle in real-time (Chaffey, et al., 2016).

Our research paper has explored how technological innovations have influenced the consumer buying process across need recognition, searching for information & alternatives, evaluation of alternatives, buying process, and post-purchase behaviours. Through extensive literature reviews, quality studies, and interviews with industry leaders, we have defined and validated the hypothesis across all the stages of consumer buying behaviour.

Based on our findings that technological innovations play a significant role in the consumer buying process, we have concluded how marketers should adapt the key disruptive technologies when defining their marketing mix. The paper will be of interest to all research scholars and will be greatly helpful to companies that are on the cusp of investing in technologies for their marketing campaigns.