How well these expectations are met determines whether the consumer is satisfied or dissatisfied with purchase. Price often influences the level of expectations for a product or service. For marketers, an important element of any post purchase evaluation is reducing any doubts that the decision was sound. When purchasers recognize inconsistency between their values or opinions and their behaviour, they tend to feel an inner tension called cognitive dissonance. Consumers try to reduce dissonance by justifying their decision.
CUSTOMER ATTITUDE Customers are individuals with likes and dislikes. When the people in a particular group feel one way or another about a product, entity, service, person, place or thing, it is said to be a generally customer attitude that will affect the market of that person, product or entity in positive or negative ways. Marketers strive to affect consumers attitudes, and understanding the prevailing attitude is the 1st step to changing it if needed. One of the main reasons for conducting the market research is to understand consumers attitudes and Preferences. Attitudes will change the behavior.
To know about the customer-perceived value is to know about the difference between the benefits customers would get and the cost they would assume which can be for different reasons and choices. Marketers play a role in this saga as they can increase value of the customers offering through functional, emotional and economic benefits which can reduce costs through the process. Customers’ feelings of satisfaction or disappointment can be compared to how well a product has performed to the customers’ expectations. Products might not meet customer’s needs and so one can say there are negative effects on the product. Due to negative effects customers might not want to buy product.
However, if the product I am going to sell do not have much advantage compare to the similar product in the market, selling process is necessary for customer. Because in the selling process, hiding the disadvantage and express the major advantage of the selling product is possible. In that case, customer will tend to purchase these product. 9. Discuss the concept of niche marketing, and audience analysis, and why in this particular assignment, it was critical to your success.
Brand tryst is an important mediator factor on the customer behavior before and after purchase of the product. Brand Attitude Brand Attitude will tell what people think about a product or service. Whether the product answer a consumer need and just how much to product is wanted by the consumer. Brand Affect Brand Affect describes the relations between consumers and brand under certain category and it can be considered as the general evaluations of the consumers for brand. It is defied as a brand’s potential to elicit a positive emotional responses in the average consumer as a result of its
Sometimes I intend my message to be received and perceived in a particular way but it turns out to be different from what I planned. Now, communicating to the customers is not enough and it doesn’t mean they will buy our products/services. We should understand how marketing communication work in a way that it will move them towards a series of steps through which they will take actions. My book has explained one of the models called AIDA model. The model suggests that, Awareness leads to Interest, which leads to Desire, which leads to Action.
It does not have always negative influence in the society. It’s merely presence of product but how viewers concern is crucial part to make it either ethical or unethical. Consumer concern indicates the meaning of awareness which effects on consumers or buyer’s behavior. Moreover, a consumer who are below the judgement standard or who have lack of awareness towards advertise, they can practice or ignore the product (Chris Hackley, et al., 2008). Some of product placement in entertainment evokes social norms and promote to change along the development.
Consumer attitudes may be described as a learned inclination to act consistently in a certain way to a specific thing. The attitudes vary in strength depending on the matter, and they reflect consumer’s values. They are composed of beliefs, feelings and behavioural intentions, which are interdependent. Consumer attitudes will change constantly for many reasons; it may even be part of the marketing strategy of the company. An example of this is by using classical conditioning by trying to associate the product with a stimulus so that the customer will change belief and hence attitude.
Such loyalty reward systems act as a motivator for customers to invest in making a continuous relation with the company & creates a pseudo-firewall preventing them to reach out to competitors. V) Dynamic Pricing Setting prices closer to the moment when a customer needs a product or service is increasingly possible, but it requires a deep understanding of full and marginal costs and investments, and of the value proposition for the customer. CURE FOR PRICING MYOPIA Responses to the below mentioned fundamental questions shall provide the first step to reduce pricing myopia: i) What is the effect of price fluctuation by 1%, on the bottom line? ii) Which are/are not the price sensitive customer? Why?
As the primary mission of advertiser is to reach its likely customers and influence their responsiveness, attitudes and buying behaviour, they pay out a lot of money to keep individual’s attention on their products. They need to understand what makes prospective customers behave the way they would like. It also appears that advertising may have the potential to add to brand choice among consumers. The consumer is more likely to correlate with advertisements of the brands, which have sentimental values and messages. CHAPTER 2 LITERATURE REVIEW Advertising is to create understanding, liking and selection of products or services.