consumer judgments dn

8/3/2019 Consumer Judgments Dn

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CONSUMER JUDGMENT

(FACTORS AND PROCESS )


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CONSUMER JUDGEMENT

People do not buy products or services, they buy benefits offered bya product, service, outlet, etc.

Hence we make purchases not for the products themselves, but forthe benefits of the problems they solve or the opportunities theyoffer.

Consumers seek bundles of types of benefits:

1.Tangible benefits2. Intangible benefits


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MODELS OF CONSUMER JUDGEMENTA consumer decision model is a means of describing the

processes that consumers go through before, during, andafter making a purchase (choice).

Expected utility

Utility functions

Prospect Theory

Asymmetry for gainsand losses

Framing


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THE CONSUMER DECISION-MAKING PROCESSThe EKB model Input Information processing

Exposure

AttentionComprehensionYieldingRetention

A decision processProblem recognition

SearchAlternative evaluationChoiceOutcomes

Decision process variables

External influences


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Overall model of consumer behaviour


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Consumer Judgment - Factors

The decisionprocess

Effects ofinvolvement

Types of

decisionstrategies

Presence

Active

Inactive


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Some other Factors

Compensatoryvs. non-

compensatory

Brand vs.attribute based

processing

Task definitionand

expectationsMood


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Consumer Judgement &Marketing Strategy

Successful marketing strategies requirea thorough understanding ofconsumer behaviour

Basis for many marketing strategies:

Product positioning

Market segmentation New product development

New market applications


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Some more Strategies

Global marketing

Marketing mix decisions

Marketing regulation

Maintenance

Disrupt

CaptureIntercept

Preference

Acceptance


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Customer-based brand equity pyramid

Deep, broad brandawareness

Intense, active loyalty

Positive, accessiblereactions

Strong, favourable and unique

brand associations

Consumer

Brand

resonance

Consumer

judgements

Consumer

feelings

Brand

Performance

Brand

imagery

Brand Salience


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Unique Factors Affecting ConsumerJudgment

Quality Styleconsistency

Evocativeness

continuousexposure

Experiencecontinuous


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CONTEXTUAL FACTORS All JUDGEMENTS takes place within the context of a

certain situation. Therefore, behaviour will not only vary

between consumers but the same consumer will exhibitdifferent behaviours from one situation to the next.

Communication situation

Purchase situation

Usage situation

Disposal situation


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Variety Seeking and Impulse Buying

Varietyseeking

need variesamong

consumers byoptimal

stimulation level(Osl)

Useinnovativeness

Impulsepurchases

Motivation

Consequences

Dont give me thatsame old cola, thatsame old cola--I want arocknroller!


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APPROACHES TO SEARCH FOR PROBLEM SOLUTIONS

INTERNAL

Memory

Thinking

EXTERNAL

Word of mouth, media,

store visits, trial

Compensatory vs. non-compensatory--can anexceptionally good rating onone attribute outweigh a badone elsewhere?


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Household Decision Making Roles/influence

Information

gatherers/holders Influencers

Decision makers

Purchasers

Users


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Types of households (family/non family)

Household life cycle

Household decision making: Information gatherer, influencer, decision

maker, purchaser, user

Current and future trends in household

consumptionComputers & video games, purchase of services,pets


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Household Decision Making

Roles/influence

Informationgatherers/holders

Influencers

Decision makers

Purchasers

Users

Values--desired endstates

Strategies ofInfluence

Constructive

Bargaining

Reasoning(sincere)

Manipulative

Impressionmanagement

Authority

Emotion

Borderline

Informationgathering


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Types of Problems in Consumer

Judgment

Presence

ActiveInactive

Acceptance

Acknowledged

Unacknowledged/ denied

Specificity

GenericSelective


19/19

THANK YOU

Presented By:Ashish Nagar

Pragati Bindal

consumer judgments dn

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