Decision Making Process a Practical Example
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this presentation is about the consumer decision making process explained with the help of a practical example of porsche
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Decision Making Process a Practical Example
- 1. Decision Making Process a Practical Example
- 3. INTRODUCTION Company: (Automobile Industry) Porsche Automobile Holding SE Founder • Ferdinand Porsche (in 1931) Owner •Porsche Family & Qatar Investment Authority (10%) First two decades, the company built Volkswagen Beetles of Germany citizens and tanks and Beetles for the military.
- 4. Introduction • Porsche Company is well known in the auto world : produces a quality, luxury vehicle that reflects each of its customer’s characteristics and personas • The company focused on quality, rather than quantity. • Between the 1950’s and 1960’s, Porsche had already become famous for a certain design, closely resembling the Volkswagen beetle.
- 5. Eventually went from being round-shaped, to having an engine containing air-cooled four and six cylinder motors in the rear of the car in the popular 356 and 911 models This often gave the edgy, dangerous look and early Porsche owners gravitated towards and developed the edgy attitude. The brand remained exclusive to the few risk-takers, who preferred to keep it that way. Porsche was seen as highly luxurious and sporty, only the few financially able could afford it Traditional Porsche owners bought the car because it mirrored their lifestyle and life choices.
- 6. Several factors influenced and explained why Porsche sold so many lower priced models in the 1970’s and 1980’s. The culture of the customers has a big part to play. Customers were already socialized and taught to believe; by owning a Porsche, there came not only certain benefits, but that they would also be respected and treated differently.
- 8. If the price is affordable to customer, it will destroy the high level social status of the brand. Porsche has appealed to a very narrow segment of financially successful people as the price was very expensive due to the good quality. Porsche manage to create a brand of exclusivity and uniqueness without the argumentation from others. Next, put their buyer in their own class of exclusivity.
- 9. Cayenne Panamera A Consumers Behavior while choosing choosing from 2 different product of same brand that is CAYENNE or PANAMERA
- 10. Contrast-Both the cars Cayenne and Panamera have comfort, and other preferred, traditional qualities of the Porsche, such as luxury and speed. But the customer will decide whether he wants speed or comfort in his car. Traditional Porsche customer would base their decision on originality, size and speed ,cost ,luxury
- 11. Post purchase Behavior Purchase Decision Alternative Evaluation Information Search Need Recognition
- 12. The first stage of the buyer decision process, in which the consumer recognizes a problem or need.
- 13. The stage of the buyer decision process in which the consumer is aroused to search for more information; the consumer may simply heightened attention or may go into an active information search.
- 14. Cayenne Is a five seat mid-sized luxury crossover. 5 doors SUV. Panamera Is a full sized luxury car. 5 doors fastback.
- 15. The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set.
- 16. The buyer’s decision about which brand to purchase.
- 17. Finally the customer buys the car
- 18. The stage of the buyer decision process in which consumers take further action after purchase based on their satisfaction or dissatisfaction with a purchase.
- 19. Post purchase Behaviors Purchase Decision Alternative Evaluation Information Search Need Recognition In this the customer will finally buy the product In these three steps the customer will choose the best product from many by gaining all relevant information about the product he choose The consumers already knows about the exclusivity and high reputation of their unique and distinctive product and its value to them.
- 20. Postpurchase Behaviour Purchase Decision Alternative Evaluation Information Search Need Recognition The customer always bear in their mind that Porsche car is “the one and only” they will search all information about the car they choose .
- 21. THANK YOU