Assessment of the Heterogeneity Influencing the Superior of Non-Banking Finance Company for Assisting Consumer Durable Loans

Abstract

Customers purchasing behavior has changed radically in the course of the most recent couple of years. The study aimed to identify major factors determining consumer's choice rules of the non-banking financial company (NBFC) for availing consumer durable loans (CDLs). Essential information was gathered from 100 respondents by utilizing a survey including eight factors, recognized dependent on an audit of writing. Principal Component Analysis (PCA) was utilized as an extraction strategy by utilizing factor analysis. Three factors were isolated by using Eigenvalues standards and these three factors were assigned names such as service delivery, terms & conditions, and safety and security of fund respectively. It was suggested from the study that the non-banking financial companies aimed to expand their business should take cognizance of these factors in their marketing strategies.