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ABSTRACT

"Catching hold of the pulse of the consumer’s taste" is the mantra which every industry follows to be successful in today’s market. As consumer behaviour is a complex, dynamic, multidimensional process, and all marketing decisions are based on assumptions about consumer behaviour. Consumer preference is a variable factor which has been changing since trading system had been introduced in the human society. Historically, Industrial revolution was the first milestone in the history of mankind, which helped the consumers to get a competitive market (i.e. varieties of products and services at cheaper rates). Since then, the world has progressed a lot in terms of modernisation, due to the world adopting the principles of Globalisation, Privatisation and Liberalisation. It helped the industries to grow, innovate and compete in the world market, which made the products and services far more efficient and cheaper.

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