A Study on Impact of Factors Influencing Trivial Income Groups towards the Purchase of Refurbished Products

Abstract

A foretime “Purpose” played the main role in the Purchase process. Consumers bought commodities to satiate and fulfil their needs, that’s how they sought a particular product. In days of yore “Branded” products were meant for Elite people. When buyers have money, they can buy any desired branded product, if not they are bound to choose a product with the same expected configurations which is of a local brand. Their desires and needs are inflated but their earnings remain unchanged. But it doesn’t mean that the buyer can’t buy the product altogether. If not first handed they may get a pre-owned product of that specified brand, that’s how the refurbished markets are created. This study shows that buyers know that the products they purchase can even have some hitches. Even the people with trivial income are also offered a wide range of products available to choose from invariable of their economic conditions and they feel that a branded refurbished product is a key consideration in their purchase pronouncement. The price of the freshly launched product drops as time passes and so are the refurbished and used product’s prices. Thus, taking this as a chance the middle-income people buy the product of their aspirations.

Keywords: Renewed Products, Refurbished, Economic Conditions, Customer Satisfaction, and Income

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