Weekly Assignment

(The Sri Lankan consumer mindset)

This is about how Sri Lankan customers do their buying of  goods. This is take from an article which interview with prasanna perera  .(Marketing and Management Consultant, Chartered Marketer)

01.What does the Sri Lankan customer look for Price or quality?

       In my opinion, Sri Lankans are very price conscious, but will not Accept any quality for a lower price. Further, the level of price sensitivity increases when income decreases In general most Sri Lankan look for value for money.

02.Are Sri Lankans Brand Conscious when purchasing product and Services?

     Men are more brand conscious than ladies. This true for most categories of products. Ladies become brand conscious for products they purchase for the family .in general brand consciousness increase with income growth . Upper income &upper middle income Sri Lankans are brand conscious.

03.what factors influence Sri Lankan buying customer behavior?

      Many factors com in to mind .primarily social factors such as family and friends are powerful influence of buying behavior .

                     In addition, age , income and occupation also influencing factors. Sri lankan becoming more and more western oriented in their lifestyle. Hence,lifestyle is also Influencing factor Across product categories, Such as food, beverage, clothing, footwear and entertainment.

04.Are Sri Lankan customers high risk takers?

     Definitely not .A moderate level of risk taking is what can be observed. only a very small segment of the market , can be classified as risk takers.