| Pub. Date | : November, 2021 |
|---|---|
| Product Name | : The IUP Journal of Marketing Management |
| Product Type | : Article |
| Product Code | : IJMM141121 |
| Author Name | : Surjit Kumar Kar, Debasmita Panigrahi and Neha Sharma |
| Availability | : YES |
| Subject/Domain | : Marketing |
| Download Format | : PDF Format |
| No. of Pages | : 18 |
The aim of this study is to examine the shifting loyalty and brand switching behavior of Indian millennials in three specific categories of online businesses, pertaining to food ordering and delivery, travel booking, and purchase of fashion apparel one-commerce channels. The primary data was collected through an online survey using Google Form, with a structured questionnaire. The technique of Markov Chain analysis helped forecast the value of a variable whose future value is influenced only by its current position or state, not any prior activity. Calculation and analysis were done manually, using cross-tabulation. It was observed that in all the three selected business categories, two-thirds of loyalty is retained by the top two players in their respective industry, whereas about one-fifth to one-fourth of the market is captured by new entrants who exploit the shifting loyalty in the targeted market. In the cross-sectional study, the respondents were asked about their latest usage of the brands studied, and hence the findings may subsequently vary over time. This paper highlights application of Markov chain analysis in an Indian context.
The global Internet audience continues to grow steadily, with the worldwide base of users exceeding 4.8 billion as of July 2021 (https://datareportal.com/global-digitaloverview). This growth in the number of Internet users has encouraged businesses to innovate business models in order to offer a variety of online services. Sectors that are growing very fast include food tech, travel tech, edu tech, fin tech and overall e-commerce industries. The online industry consists of companies that provide a variety of products.