dissertationfinal

The Final Report after receiving the complete data:

Model A^2* (Anderson Darling) = 1.0176754860323463

Equation: Income :=E_Income
whereE_Income ~ Normal(0, 1.2171)

Anderson Darling A^2* for this equation = 0.38370490035174565

Equation: Gender :=E_Gender
whereE_Gender ~ Normal(0, 1.7413)

Anderson Darling A^2* for this equation = 0.6379174997909108

Equation: ParentsEducation :=E_ParentsEducation
whereE_ParentsEducation ~ Normal(0, 2.5340)

Anderson Darling A^2* for this equation = 0.8384415820182233

Equation: ParentOccupation :=E_ParentOccupation
whereE_ParentOccupation ~ Normal(0, 1.9729)

Anderson Darling A^2* for this equation = 1.6598540583248969

Equation: Age :=E_Age
whereE_Age ~ Normal(0, 1.5197)

Anderson Darling A^2* for this equation = 3.369846159776362

Equation: FriendsThinkBrand :=E_FriendsThinkBrand

44

whereE_FriendsThinkBrand ~ Normal(0, 1.0499)
Anderson Darling A^2* for this equation = 0.47246451537182543

Equation: DressInStyle :=E_DressInStyle
whereE_DressInStyle ~ Normal(0, 2.3935)

Anderson Darling A^2* for this equation = 0.6801976411413682

Equation: LogoProminently :=E_LogoProminently
whereE_LogoProminently ~ Normal(0, 1.0202)

Anderson Darling A^2* for this equation = 0.3804043471400889

Equation: OthersThinkofPeople :=E_OthersThinkofPeople
whereE_OthersThinkofPeople ~ Normal(0, 2.4920)

Anderson Darling A^2* for this equation = 0.46300867132594464

Equation: GoodInpression :=E_GoodInpression
whereE_GoodInpression ~ Normal(0, 1.8586)

Anderson Darling A^2* for this equation = 1.3162265143948315

Equation: PeopleAcknowledge :=E_PeopleAcknowledge
whereE_PeopleAcknowledge ~ Normal(0, 2.2915)

Anderson Darling A^2* for this equation = 1.462394946494375

Equation: WhatkindPeoplebuy :=E_WhatkindPeoplebuy
whereE_WhatkindPeoplebuy ~ Normal(0, 1.0475)

45

Anderson Darling A^2* for this equation = 0.5839970640000561

Equation: LatestStyle :=E_LatestStyle
whereE_LatestStyle ~ Normal(0, 1.4119)

Anderson Darling A^2* for this equation = 2.665117475705984

Equation: ShowyDisplay :=E_ShowyDisplay
whereE_ShowyDisplay ~ Normal(0, 2.6252)

Anderson Darling A^2* for this equation = 0.7744026063535407

Equation: Relaxed :=E_Relaxed
whereE_Relaxed ~ Normal(0, 2.0407)

Anderson Darling A^2* for this equation = 0.6585658638178621

Equation: Worry :=E_Worry
whereE_Worry ~ Normal(0, 1.9027)

Anderson Darling A^2* for this equation = 0.943816751209647

Equation: NeverSad :=E_NeverSad
whereE_NeverSad ~ Normal(0, 2.3186)

Anderson Darling A^2* for this equation = 1.3316163883035408

Equation: Disturbed :=E_Disturbed
whereE_Disturbed ~ Normal(0, 1.9588)

Anderson Darling A^2* for this equation = 1.3479476804473978

46

Equation: Upset :=E_Upset
whereE_Upset ~ Normal(0, 2.2374)

Anderson Darling A^2* for this equation = 0.5524065862290112

Equation: MoodChange :=E_MoodChange
whereE_MoodChange ~ Normal(0, 2.7783)

Anderson Darling A^2* for this equation = 0.18921453958788495

Equation: MoodSwings :=E_MoodSwings
whereE_MoodSwings ~ Normal(0, 1.8255)

Anderson Darling A^2* for this equation = 1.3520573545867576

Equation: Irritated :=E_Irritated
whereE_Irritated ~ Normal(0, 1.8975)

Anderson Darling A^2* for this equation = 0.23083419095527977

Equation: Sad :=E_Sad
whereE_Sad ~ Normal(0, 1.3335)

Anderson Darling A^2* for this equation = 1.9522241221623375

Equation: Status := -0.8629*Income + -1.4255*ParentOccupation + 1.0717*ParentsEducation +
E_Status

whereE_Status ~ Normal(0, 1.6463)
Anderson Darling A^2* for this equation = 0.18074271506831446

47

Equation: BrandProminence := 1.3443*LatestStyle + -0.9901*PeopleAcknowledge + -
0.7228*DressInStyle + 0.7603*WhatkindPeoplebuy + 0.7424*OthersThinkofPeople +
0.8694*Status + 0.7552*FriendsThinkBrand + -1.2915*ShowyDisplay + -
0.7639*GoodInpression + 1.4706*SelfEsteem + 1.1603*LogoProminently +
E_BrandProminence

whereE_BrandProminence ~ Normal(0, 2.5217)

Anderson Darling A^2* for this equation = 0.7840201147053312

Equation: SelfEsteem :=E_SelfEsteem
whereE_SelfEsteem ~ Normal(0, 1.8579)

Anderson Darling A^2* for this equation = 1.4679820404766712

Equation: BuyingBehaviour := -0.8239*BrandProminence + E_BuyingBehaviour
whereE_BuyingBehaviour ~ Normal(0, 1.2048)

Anderson Darling A^2* for this equation = 0.8177376509732084

Estimated degrees of Freedom = 227
Chi Square = 256.0474
P Value = 0.0901
BIC Score = -1312.0130
CFI = -3.1217
RMSEA = 0.0113

The above chi square test assumes that the maximum likelihood function over the measured
variables has been minimized. Under that assumption, the null hypothesis for the test is that the
population covariance matrix over all of the measured variables is equal to the estimated
covariance matrix over all of the measured variables written as a function of the free model

48

parameters--that is, the unfixed parameters for each directed edge (the linear coefficient for that
edge), each exogenous variable (the variance for the error term for that variable), and each
bidirected edge (the covariance for the exogenous variables it connects). The model is explained
in Bollen, Structural Equations with Latent Variable, 110. Degrees of freedom are calculated as
m (m + 1) / 2 - d, where d is the number of linear coefficients, variance terms, and error
covariance terms that are not fixed in the model. For latent models, the degrees of freedom are
termed 'estimated' since extra contraints (e.g. pentad constraints) are not taken into account.

H1: Status or perceived statuspositively influences selection of brand loudness.
The covariance between Status and BrandProminence is -2.0787. Converting this covariance to
correlation we get the value. The variance of Brand Prominence is 48.184 and the variance of
Status is 3.8466. The value of correlation we get is -0.15 with is not significant at all. As a result
we reject this hypothesis.
H2: Self-esteem positively influences the selection of brand loudness.
The covariance between Selfesteem and BrandProminence is 20.4905. Converting this
covariance to correlation we get the value. The variance of Brand Prominence is 48.184 and the
variance of Selfesteem is 11.2924. The value of correlation we get is 0.88 which is a high
correlation. And hence we accept this hypothesis.

49

Chapter 5

Conclusion and Recommendations

In this chapter, the research questions are answered concluding the research done for this
paper. On the basis of it, recommendations are offered and scope for further Research is
discussed.

According to Kotler (in Gould, 1979: 33), it is almost impossible to find the reason why people
buy what they do. There are a multitude of reasons to their buying behavior. The buying
behavior depends upon many manifest and latent variables. The buying behavior depends upon
the personality traits of the individual as also on his perceived status. The personality traits may
be formed by the society and the peer group pressure and as a result many a buying behavior
could also be irrational.

The model that we have created tries to understand the buying behavior of the millennials on the
basis of mainly their personality traits and their status or perceived status in the society. Now
how this influences the buying behavior based on the Brand prominence of a Brand.

In the model Status, Personality traits and the Brand prominence are the exogenous variables,
whereas we have the Buying behavior as the endogenous variable. The exogenous variable
Status is derived from the Household income the highest Education and the Profession of the
parents. A factor analysis was done and reported in the previous chapter.

The exogenous variable Personality trait as reported in the previous chapter is taken as the self-
esteem of the individual. A set of nine manifest variables represent this factor. Again a factor
analysis was done and reported. The exogenous variable Brand prominence was like wise used in
the model. This factor is represented likewise by nine manifest variables.

The endogenous variable the Buying behavior is an extremely complex variable and the center of
research for many decades. This model attempts to explain this factor based on the results of the
other three exogenous variables.

The variance-covariance matrix was studied and the following are the findings. The model tries
to empirically explain the buying behavior of the millennials based on certain factors. Of course
this model is far from accurate but only tries to find the manifest and latent variables that come
in the mind of the millennials that direct them towards making their purchase decision.

The variance covariance matrix captures all the covariances’ between the manifest and the latent
variables. It is for us to use the model and see how the status and self-esteem is directing them to
choose a particular brand prominence aiding them in their buying decisions.

50

As an example the covariance between status and buying behavior is positive as expected
whereas status and brand prominence has a negative covariance. The covariance between all the
variables is specified and some recommendations are as follows.

Recommendations

Brand prominence is an extremely important and integral part of the marketing strategy of any
organization. People buy brands based not only on their appellations but buy also by the brand
prominence. Their personality and status the exogenous variables of the models are the
directorial factors in this regard. This latent variable is captured in the model. These exogenous
variables are so strong that the consumer may seem to behave irrationally in his buying behavior.
Obviously to him he is completely rational.
The research is far from over and the model created needs lots of further inputs, research and
understanding. It is intended to take this further at the appropriate time with more resources
available.

51

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54

Annexure- Questionnaire

1. Total House Hold Income in INR per month. Please check. 1. Less than 50000 2. 50,000
- 100,000 3. 100,000 - 150,000 4. 150,000 - 200,000 5. More than 200,00

2. Gender 1. Male 2. Female
3. Level of Education 1. 10 th or less 2. 12th 3. Graduation 4. Masters 5. Doctrate
4. Education of Father 1. Profession or Honors 2. Graduate or post graduate 3. Intermediate

or post high school diploma 4. High school certificate 5. Middle school certificate 6.
Primary school certificate 7. Illiterate
5. Education of Mother 1. Profession or Honors 2. Graduate or post graduate 3. Intermediate
or post high school diploma 4. High school certificate 5. Middle school certificate 6.
Primary school certificate 7. Illiterate
6. Occupation of Father 1.Profession 2. Semi-Profession 3. Clerical, Shop-owner 4. Skilled
worker 5. Semi-skilled worker 6. Unskilled worker 7. Unemployed
7. Occupation of Mother 1.Profession 2. Semi-Profession 3. Clerical, Shop-owner 4. Skilled
worker 5. Semi-skilled worker 6. Unskilled worker 7. Unemployed
8. Age. 1. Less than 18 2. 18-21 3. 21-24 4. More than 24
9. While deciding to buy any branded product I am careful what my friends think about this
brand.
10. I am careful of the view that people should always dress in style
11. I want the logo to be displayed prominently on the product
12. While deciding to buy any branded product I am careful what others think of people who
use this brand.
13. While deciding to buy any branded product I am careful that I create a good impression
on others with this brand.
14. I want people to notice and acknowledge the brand I possess.
15. While deciding to buy any branded product I am careful what kind of people buy this
brand
16. I am careful that I have the latest in style
17. I believe in ostentatious (showy) display of the brand logo
18. Fill in the questionnaire as accurately as you can. Every question is a pair. For example if
a question says "angry 12345 calm", then you have to say 1 if you are always angry and
never calm and 5 if always calm and 3 if you are half and half.The Question Follows:
Makes lists Vs Relies on memory
19. Sceptical Vs Wants to believe
20. Bored by time alone Vs Needs time alone
21. Accepts things as they are Vs Unsatisfied with the ways thingsare
22. Keeps a clean room Vs Just puts stuff where ever
23. Thinks "robotic" is an insult Vs Strives to have a mechanical mind
24. Energetic Vs Mellow
25. Prefer to take multiple choice test Vs Prefer essay answers

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26. Chaotic Vs Organized
27. Easily hurt Vs Thick-skinned
28. Works best in groups Vs Works best alone
29. Focused on the present Vs Focused on the future
30. Plans far ahead Vs Plans at the last minute
31. Wants people's respect Vs Wants their love
32. Gets worn out by parties Vs Gets fired up by parties
33. Fits in Vs Stands out
34. Keeps options open Vs Commits
35. Wants to be good at fixing things Vs Wants to be good at fixing people
36. Talks more Vs Listens more
37. When describing an event, will tellpeople what happened Vs When describing an event,

will tellpeople what it meant
38. Gets work done right away Vs Procrastinates
39. Follows the heart Vs Follows the head
40. Stays at home Vs Goes out on the town
41. Wants the big picture Vs Wants the details
42. Improvises Vs Prepares
43. Bases morality on justice Vs Bases morality on compassion
44. Finds it difficult to yell very loudly Vs Yelling to others when they are faraway comes

naturally
45. Theoretical Vs Empirical
46. Works hard Vs Plays hard
47. Uncomfortable with emotions Vs Values emotions
48. Likes to perform in front of other people Vs Avoids public speaking
49. Likes to know "who?", "what?","when?"Vs Likes to know "why?"
50. On a scale of 1 to 5 check 1 if you completely disagree and 5 if completely agree. I Get

stressed out easily
51. I am relaxed most of the time.
52. I worry about things.
53. I seldom feel blue
54. I am easily disturbed.
55. I get upset easily
56. I change my mood a lot
57. I have frequent mood swings
58. I get irritated easily
59. I often feel blue.

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