Purchase Decision (Marketing)

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Purchase Decision (Marketing)

  1. 1. Group no. 9 Schumpeter Hall Purchase Decision & Postpurchase Decision
  2. 2. AGENDA <ul><li>Purchase Decision </li></ul><ul><li>Consumer Choice </li></ul><ul><li>Intervening Factors </li></ul><ul><li>Risk Involved </li></ul><ul><li>Postpurchase Decision </li></ul><ul><ul><li>Behavior </li></ul></ul><ul><ul><li>Action </li></ul></ul><ul><ul><li>Use and disposal </li></ul></ul>12/20/2009 Group 9 PROTON business school
  3. 3. PURCHASE DECISION <ul><li>Nearly everyday consumer deal </li></ul><ul><li>with purchase decisions. But not </li></ul><ul><li>all decisions are treated the same. </li></ul><ul><li>Some decisions are more complex </li></ul><ul><li>than others and thus require more </li></ul><ul><li>effort by the consumer. </li></ul>12/20/2009 Group 9 PROTON business school
  4. 4. CONSUMER CHOICE <ul><li>Heuristics enables consumer to discover or learn something for themselves. </li></ul><ul><li>These are rules of thumb or “mental shortcuts” in the decision process. </li></ul><ul><ul><li>Conjunctive heuristic </li></ul></ul><ul><ul><ul><li>Here consumer sets a minimum acceptable cutoff level for each attribute and chooses the best among them. </li></ul></ul></ul><ul><ul><li>Lexicographic heuristic </li></ul></ul><ul><ul><ul><li>Consumer choose the best brand on the basis of the perceived most important attribute </li></ul></ul></ul><ul><ul><li>Elimination-by-aspects heuristic </li></ul></ul><ul><ul><ul><li>Consumer compares brands on an attribute selected probabilistically </li></ul></ul></ul>12/20/2009 Group 9 PROTON business school
  5. 5. EXAMPLE 12/20/2009 Group 9 PROTON business school Brand/Features 3G Memory Touch screen Wi-Fi Price Nokia 8 10 8 10 Rs. 11700 Samsung 0 8 10 8 Rs. 8999 Sony Ericsson 10 7 0 9 Rs. 9900 China Mobile 6 8 7 0 RS. 4500
  6. 6. INTERVENING FACTORS <ul><li>Attitude of others </li></ul><ul><ul><li>It can influence of consumer’s decision by giving negatives or confusing statements related to product. </li></ul></ul><ul><ul><ul><li>Review reports, blogs and e-forum plays vicious role </li></ul></ul></ul><ul><li>Unanticipated situational factors </li></ul><ul><ul><li>It can affect consumer’s decision to modify, postpone or avoid purchase decision. </li></ul></ul>12/20/2009 Group 9 PROTON business school
  7. 7. 12/20/2009 Group 9 PROTON business school
  8. 8. UNANTICIPATED FACTORS 12/20/2009 Group 9 PROTON business school
  9. 9. ATTITUDE OF OTHERS 12/20/2009 Group 9 PROTON business school
  10. 10. RISK INVOLVED <ul><li>A consumer’s decision to modify, postpone or avoid is heavily influenced by perceived risk. </li></ul><ul><ul><li>Functional </li></ul></ul><ul><ul><ul><ul><li>Product does not perform up to expectations. </li></ul></ul></ul></ul><ul><ul><li>Physical </li></ul></ul><ul><ul><ul><ul><li>Product poses a threat to the physical well-being or health of the users or others. </li></ul></ul></ul></ul><ul><ul><li>Financial </li></ul></ul><ul><ul><ul><ul><li>Product is not worth the price paid </li></ul></ul></ul></ul><ul><ul><li>Social </li></ul></ul><ul><ul><ul><ul><li>Product results in embarrassment from others </li></ul></ul></ul></ul><ul><ul><li>Psychological </li></ul></ul><ul><ul><ul><ul><li>Product affects the mental well being of the user </li></ul></ul></ul></ul><ul><ul><li>Time </li></ul></ul><ul><ul><ul><ul><li>Failure of the product results in an opportunity cost of finding another satisfactory products </li></ul></ul></ul></ul>12/20/2009 Group 9 PROTON business school
  11. 11. FUNCTIONAL RISK 12/20/2009 Group 9 PROTON business school
  12. 12. PHYSICAL RISK 12/20/2009 Group 9 PROTON business school
  13. 13. FINANCIAL RISK 12/20/2009 Group 9 PROTON business school
  14. 14. SOCIAL RISK 12/20/2009 Group 9 PROTON business school
  15. 15. PSYCHOLOGICAL RISK 12/20/2009 Group 9 PROTON business school
  16. 16. TIME RISK 12/20/2009 Group 9 PROTON business school
  17. 17. 12/20/2009 Group 9 PROTON business school
  18. 18. POSTPURCHASE BEHAVIOR <ul><li>After purchase the consumer might experience dissonance in his mind. </li></ul><ul><li>Reasons </li></ul><ul><ul><li>Favorable things about other brands </li></ul></ul><ul><ul><li>Rumors </li></ul></ul><ul><li>Marketer’s job therefore doesn’t end with the purchase. They must monitor : </li></ul><ul><ul><li>Satisfaction </li></ul></ul><ul><ul><li>Actions </li></ul></ul><ul><ul><li>Product usage </li></ul></ul>12/20/2009 Group 9 PROTON business school
  19. 19. 12/20/2009 Group 9 PROTON business school
  20. 20. POSTPURCHASE SATISFACTION <ul><li>These feelings make a difference in whether customer buys the product again and talks favorably about it. </li></ul><ul><li>If performance falls short of expectations consumer gets disappointed. </li></ul><ul><li>If it meets expectations, consumer gets satisfied. </li></ul><ul><li>If it exceeds expectations, consumer is delighted. </li></ul>12/20/2009 Group 9 PROTON business school
  21. 21. 12/20/2009 Group 9 PROTON business school Dissatisfied customer Satisfied customer
  22. 22. POSTPURCHASE ACTIONS <ul><li>Strong consumer relationship should be maintained by : </li></ul><ul><ul><li>Keep in touch with consumers and give them information about upgradation or arrival of new products </li></ul></ul><ul><ul><li>By accepting negative as well as positive feedbacks </li></ul></ul>12/20/2009 Group 9 PROTON business school
  23. 23. POSTPURCHASE USE AND DISPOSAL <ul><li>Here the marketers must monitor how consumer is using the product and what is the life cycle of the product. </li></ul><ul><li>They should monitor : </li></ul><ul><ul><li>When consumer first use the product or need to replace it. </li></ul></ul><ul><ul><li>Its current level of performance </li></ul></ul>12/20/2009 Group 9 PROTON business school
  24. 24. POSTPURCHASE USE AND DISPOSAL 12/20/2009 Group 9 PROTON business school
  25. 25. THANK YOU Group 9 Schumpeter Hall 12/20/2009 Group 9 PROTON business school

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