A STUDY OF MARKET DYNAMICS AND ENERGY SUSTAINABILITY EFFORTS ANALYSIS FOR ELECTRICAL HOME APPLIANCES

Three major changes are been seen to be taking place in electrical home appliances market, as can be witnessed in the present day all across the world. The first is the rise in domestic energy use, the second is technological advancements in electrical home appliances, the third is initiatives forenhancementin energy sustainability. The key element in this situation is electrical home appliances. When electrical home appliances market is considered, it was fascinating to observe how the market dynamics for electrical home appliances, sustainability initiatives, and marketing mix influenced consumers' decisions to buy energy-efficient electrical home appliances. It was also vital to determine whether socioeconomic factors like income and education have an association with the choice to buy electrical home appliance. Hence it has been determined through data analysis that each of these elements affects the decision to buy home appliances. Thus, the study has helped to provide a framework of the factors influencing buying decision for energy efficient electrical home appliance.Outcome of this study is helpful for deriving marketing mix strategies and market segmentation strategies for electrical home appliances.