Customer Experience Model and its Impact on Purchase Intention: A Study of Indian Retail Sector
The Indian retail business has observed multiple players in multiple sectors and subsectors of business offering only tangibles ot combination of tangibles and intangibles or only intangibles. The retail business managers are continuously looking for unique business model revolving around customer experiential model so as to acquire customers, encourage them to make repeat purchase, become loyal customer and in long run turn out to be brand advocates According to Pine and Gilmore (1999) the use of experiential marketing as a communication tool is growing with companies as they believe that it provides a competitive advantage in comparison to traditional communication. This was also supported by Kotler (2003) .Experiential marketing has been the focus of several studies in the area of consumer buying behaviour with respect to fast moving consumer goods, consumer durables, luxury goods and services; but in the absence of research on relationship between experiential marketing and customer purchase intention for various players in services in Indian context; there is a gap of knowledge. Through this paper, the author attempted to fill this knowledge gap as it studied the impact of experiential marketing on customer purchase intention for various services. The data of 1224 respondents were analyzed in this research. The results from the study concluded that entertaining , escapist and esthetics experience have significant positive impacts on the customer purchase intention while the educational experience were not found to have significant positive impacts on the purchase intention of the customer.
Keywords - Experiential Marketing, Educational Experience, Entertainment Experience, Escapist Experience, Esthetics Experience, Purchase Intention