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The study was carried out to construct a valid and reliable scale for measuring consumer's preference. It was a bilingual (English & Hindi) Consumers' Preference scale. The responses were on a Likert type five point scale with 40 items. A sample of 780 consumers was drawn to determine the psychometric properties (validity & reliability) of the test. Subject Matter Experts (SME) rated each statement on relevance, clarity, simplicity and ambiguity. As confirmed by SME, test showed high face and content validity. Item analysis conducted and the reliability using Cronbach's Alpha of the scale was found 0.94 and is excellent. Using amore structured method, in Exploratory Factor Analysis (EFA) with varimax rotation eight factors emerged and labeled very cautiously. In all eight factors explained 62.54% of the total variance. Convergent validity was evaluated using different criterion and the Average Variance Extracted (AVE) by each construct exceeding the variance due to measurement error for that construct. The composite reliability was also examined. Further, inter-factorial correlations among sub-dimensions of Consumers' Preference scale found highly significant (p<0.001).The test is valid and reliable for assessing students internally and prepare them for external examinations. It can be concluded that the present research work confirms high psychometric characteristics of Consumers' Preference scale.
Keywords: consumers' preference, retail, reliability, validity
The face of retail is changing in India with changing Consumers' preference. In India, organized retailing is showing a very tremendous growth in the past few years. With the increase in growth the competition among the global and domestic players has also increased. For surviving in such an intense competition understanding of the preferences of the consumers for various attributes of retail stores are considered of much significance. What consumers perceive about the attributes of a store in their mind and their preference and satisfaction drivers. Knowledge of the preference of consumers may help the retailers in developing an appropriate and customized marketing strategy for these consumers. So the purpose of this scale is to measure the preferences of consumers for various retail store attributes and develop a consumer preference scale of the specific attributes of retail stores in India
The paradigm shift in consumer's preference and changing macroeconomic and socioeconomic scenario are stimulating the transformation of traditional and small scale retailing formats...