Internship Report on “Factors Influencing Consumer Buying Decision Towards Automobile Lubricants of Ranks Petroleum Ltd”

Abstract

The purpose of the study is to identify factors that influence the buying decisions of lubricant buyers. For the study, an exploratory research design was chosen. Data for the study were gathered from both primary and secondary sources. The study used semi-structured (open ended) questionnaires to interview Ranks Petroleum Ltd. executives, dealers, lubricant shop owners, garage mechanics, and individual consumers in order to collect primary data. The selection of certain consumers is done using a judgmental sampling technique. The websites of the companies, annual reports, thesis papers, and publications relating to lubricants were used to collect and analyze secondary data. The study's findings point to a number of different factors that significantly and favorably influence consumers' decisions to purchase lubricants. Particularly in marketing initiatives, there is a significant restriction. Therefore, using a market-driven strategy, the corporation should implement efficient methods to build a positive brand image toward markets and achieve relatively outstanding results in this industry. The study suggested that lubricants companies should concentrate on maximizing the value of their marketing strategies, establishing efficient distribution channels, improving logistics and e-commerce capabilities in order to influence consumer purchasing decisions in Bangladesh. The study highlights the specific factors that influence lubricant purchase decisions of Bangladeshi consumers, which can be of great value to lubricant distributors operating in Bangladeshi market. The findings of this study can aid the marketers in developing effective marketing strategies in order to build customer loyalty.