Factors Influencing Gold Purchase Decisions among Indian Women: A Socio-Economic Study

Abstract

This study is constructed with the purpose of determining the socio-economic facets impacting on woman consumers in Virudhunagar district to buy gold. To understand the main attributions that impact on new purchase determinations a sample size of 400 rural and urban ladies has been identified as test dimension. The paper investigates the key determinants of an individual buying gold using data on economic conditions, income categories, education levels, cultural beliefs and family norms. This dichotomy between rural and urban respondents brought out the effects of socio-economic status and traditional values on individual choices. Conclusion of this study is pertinent for marketers and policy makers prepare innovative strategies accordingly in conformity with preferences and motives among varied socio-economic backgrounds. It specific to the Indian gold market throwing a perspective on consumer behavior with reference to women buyers.