Digital Transformative Practices in Product and Pricing Strategies: Driving Sustainable Consumer Buying in the Fmcg Sector

Article DOI: doi.org/10.66293/aayam.v16.i1.05

AUTHOR
G.E. Barkavi *
S. Ramesh **
Tharshini T R ***
Nivashini S ***
Sibiraj S ***

KEYWORDS
FMCG, Buying Behavior, Digital Platforms, Pricing Strategy, Customer Satisfaction, Sustainable Growth.

ABSTRACT
With regard to India’s context, the domain of consumption economics is highly influenced by the FMCG sector, in view of their regular purchasing process and the ways of their promotion. The foremost objective of this study lies in analyzing the impact of the digitalization strategy on the pricing and product strategies for achieving sustainable consumer behavior in the FMCG industry. In the current study, a step would be taken to analyze the effect of various pricing strategies like the competitive pricing strategy, promotional pricing strategy and personalized pricing strategy and the digital product strategies including quality, nutrition, hygiene and communication on the consumer behavior of consumers. In the present study, the sample size is predetermined as 94 using the simple random sampling method. The relationship between price sensitivity and repurchase is clearly established from the results obtained after data analysis (r = 0.701). Further, from the result of the analysis, it can be concluded that attributes and branding contribute positively to the behavior of consumers (p < 0.001). As far as festival pricing is concerned, the results reveal that it was the most accurate predictor of purchase behavior (Beta = 0.475, p < 0.001). As far as the results of factor analysis are concerned, it must be mentioned that only one factor accounted for 63.026% of variance and that was Customer Loyalty and Satisfaction. The contribution made by this research to the existing body of knowledge is empirical in nature.