Emerging Dimensions of Buyer Behavior in Non Traditional Banking

1.1: INTRODUCTION

The business scenario has undergone a radical shift from a product or manufacturing orientation

to a service orientation. It is so due to the fact that in the present times, most of

economic consumption involves processes, activities, and personal interactions, rather

then simply purchase a 'thing', whereas, initially management and marketing principles

were based on this basic pathway - production, inventory, purchase, and consumption

(David Solnet, 2011).

As a result, the service industry over the years has seen a major upward shift. The total input

of this industry has shown continuous growth and the contribution it has made towards

overall GDP of the country has been tremendous. As per the World Bank Report (2010)

the proportion of services in the world economy is 70 % and is also showing a regular growth

in nearly all countries.