Post Purchase behavior of Consumer
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CDM model What after purchase Consumer dissonance factors Parameters of satisfaction of a customer Post Purchase Dissonance Dissonance consequences KFC Zomato Volkswagen Covid Warriors and Vaccination Pepsodent toothpaste Ana Ivanovic Rolex Churn
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Post Purchase behavior of Consumer
- 2. MKT501 MARKETING MANAGEMENT Knock Knock ?? CONSUMER DISSONANCE •Role of purchase • Post Purchase process
- 4. MKT501 MARKETING MANAGEMENT Problem Recognition CONSUMER DISSONANCE
- 5. MKT501 MARKETING MANAGEMENT Information Search
- 6. MKT501 MARKETING MANAGEMENT Evaluation of Alternative
- 7. MKT501 MARKETING MANAGEMENT Example of Evaluation Criteria Tangible Attitude Intangible Attitude Vistara Airlines vs Indigo Airlines InTangible Attitude Tangible Attitude
- 8. MKT501 MARKETING MANAGEMENT Purchase Decision Brand Dealer Quantity Timing Payment method Purchase subdecisions
- 9. MKT501 MARKETING MANAGEMENT Steps between Evaluation of Alternatives and Purchase Decision
- 10. MKT501 MARKETING MANAGEMENT Post Purchase Decision Delighted Satisfied Dissatisfied Loyal Stay or Go Defect
- 11. MKT501 MARKETING MANAGEMENT Post Purchase Decision
- 18. News - Dissonance is uncomfortable
- 19. News - Avoid situations CONSUMER DISSONANCE
- 20. Buyer Remorse Buyer's remorse is the sense of regret after having made a purchase.
- 21. Survey Results
- 22. Survey Results
- 24. Example Birthday Celebration @25 Purchase of a house
- 25. Conditions Leading to Dissonance Dissonance is likely to occur under following conditions: Minimum threshold of dissonance is passed. Consumers may tolerate a certain level of inconsistency in their lives until the point is reached The action is irrevocable. Consumers may not reverse a decision when they have purchased a car Unselected alternatives have desirable features There are several desirable alternatives Available alternatives are quite dissimilar in their qualities There is no pressure applied to the consumer to make the decision
- 26. Postpurchase Dissonance • The degree of commitment or irrevocability of the decision • The importance of the decision to the consumer • The difficulty of choosing among the alternatives • The individual’s tendency to experience anxiety
- 27. Reduce Dissonance After the purchase is made, the consumer may utilize one or more of the following to reduce dissonance: Increase the desirability of the brand purchased Decrease the desirability of rejected alternatives Decrease the importance of the purchase decision Reverse the purchase decision
- 28. Quiz-Identify how dissonance is being reduced
- 29. Dissonance Reduction There several ways in which consumer strives to reduce dissonance. These include: Change the evaluation of alternatives Seek new information to support his choice Change his attitudes
- 32. https://www.youtube.com/watch?v=y__S0g- q0pw&feature=youtu.be 7 principles of customer satisfaction https://www.youtube.com/watch?v=yu28H2rP_fM&feature=yo utu.be Uber | UberRUSH https://www.youtube.com/watch?v=s4DY7KClkfQ&feature=e mb_logo Finding the Moments of Truth: Customer Journey Mapping to Better Serve Your Customers https://www.youtube.com/watch?v=3JHRp2XAMCI&feature=e mb_logo Marketing is Dead. Only Moments Matter https://youtu.be/J2UWJgjszPg https://youtu.be/PzNbPLD-V2Y https://youtu.be/MPE0OqS1TIk https://hbr.org/2016/05/online-retailers-should-care-more- about-the-post-purchase-experience https://youtu.be/VDwgsoQyEJs https://youtu.be/_nZNXY2bwKI https://youtu.be/dr00TrsG_eo
- 35. Reassurance Ad
- 37. Reassurance You are looked after if something does go wrong
- 38. Negative Advertising A seminal example of negative political advertising attempting to raise dissonance over the competing political party. Perhaps unfortunately modern political campaigning seems to mostly ’knock’ the opposition parties.
- 39. Consumption guilt Consumption guilt - when guilt feelings are aroused by the product/service use. Marketers needtofocus on validating the consumption for “high guilt” products.
- 43. Disposition
- 45. Determinants of Satisfaction and Dissatisfaction Instrumental performance relates physical functioning of the product. to the Symbolic performance relates to aesthetic or image-enhancement performance. Affective performance is the emotional response that owning or using the product or outlet provides
- 47. Marketing Strategy and Dissatisfied Consumers Firms need to satisfy consumer expectations by: 1. Creating reasonable expectationsthrough promotional efforts, and 2. Maintaining consistent quality so the reasonable expectations are fulfilled.
- 48. Focus of Marketing Strategy
- 49. Target Repeat purchasers continue to buy the same brand though they do not have an emotional attachment to it. Switching costs are the costs of finding, evaluating, and adopting another solution. Brand loyalty involves commitment to the brand – it is a biased behavioral response expressed over time.
- 50. Churn A churn is a turnover in a firm’s customer base. Reducing churn is a major objective of many firms today. It typically costs more to obtain a new customer than to retain an existing one, and new customers generally are not as profitable as longer-term customers!