The Rise of Korean wave in India and its Influence on Consumer Behaviour and the Consumer Products Industry
Keywords:
korean wave, consumer behaviour, korean cosmetics, korean food products, purchasing patterns, country-of origin,
Abstract
One of the most advantageous spillover effects of the rise of Korean wave has been the growing popularity of Korean consumer products including cosmetics, food, fashion, etc. in the foreign countries. Recently, India has been experiencing this and demand for Korean consumer products have seen a steep growth. This paper aims to analyse the Indian consumers' behaviour while purchasing Korean cosmetics and food products, and what factors impact them via quantitative research through an online questionnaire. The paper also tries to qualitatively understand the growth potential of Korean cosmetics and food brands in India. The paper has used multiple linear regressions for the quantitative study and the results prove that 'Product Quality' and 'Country of origin image' significantly and positively impact the Purchase intention of Korean cosmetics. Whereas, 'Product Quality', 'Attractiveness of the Korean culture and K-wave', and 'Product Price' significantly impact the Purchase intention of Korean food products. 'Product Quality' and 'Attractiveness of the Korean culture and K-wave' impact it positively while, 'Product Price' has a negative impact i.e., consumers are price sensitive when buying Korean food products because of the availability of alternative brands.
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2023-04-27
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