Name- Piyush Bajoria

Roll No.- 170103147

Section- B
Assignment- Session 1 and 2.
Consumer Behaviour:
Perception of customer pays a vital role in the company’s competency to attract and retain
both new and existing customers. “A Customer is always correct” is true but it can also be
handled pretty well by the company, we have seen products and services which are
completely new and something never seen or imagined earlier. Then how can a customer be
right, if he hasn’t even seen the product before. That’s where perception of a particular
brand or company or product comes into play. The perception can directly indirectly
influence the customer, we have seen the examples of Apple, Hermes, Lay’s.

A consumer always experiences three stages when he wants to purchase any product:
1. Pre- Purchase Issue
2. Purchase Issue
3. Post Purchase Issue

Pre- Purchase Issue

Consumer Perception- A process of need identification, where consumer
understands his requirements and gathers information on various products available
in the market.
Marketers Perception- How to increase brand recall and recognition at this stage is
really important for any product marketer. To increase this he use 4 P’s of marketing.

Purchase Issue
Consumer Perception- Value offering of each product is checked at this stage by
each customer. Value for money is another important area for this.
Marketers Perception- Point of Display advertising and personal selling is also used
for immediate conversion of potential customer to an actual customer.

Post Purchase Issue

Consumer Perception- Whether the products meet my expectations? Whether the
products had any surplus surprises whether positive or negative which was not
initially anticipated by me. Whether or not I am happy to tell others about the
product I am using?
Marketers Perception- Good after Sales service is important. This helps in reduction
of cognitive resonance which further helps me achieve my goal of retaining
customer. It is said that customer retention costs less than generating leads for a
new customer. Word of mouth marketing can be a very effective tool for free
marketing.
Understanding the consumer behaviour:
1. Consumer in the market place- Market is a place where Buyers and sellers
interact with each other. A marketer should observe and see how
different customers react to his product which serves as a good insight for
him.
2. Consumer as an individual- How the individual perceives, distinguishes
the product from competitors. What are the different socio- cultural
factors influencing them.
3. Consumer and subculture- Age, and other social factors like language,
music plays an important role in the decision-making process of the
consumer.
4. Consumer and emerging new development- Changing demographics,
availability of different brands and various products of different
customers plays a great impact on consumers mind about the product.
5. Consumer and the culture- Every country has its own diversified culture
which might be similar in certain aspects yet very different in others. In
India Each state has its own culture.

Consumers gathers data about each product from various sources-

1. Personal Source- Family, friends, inner circle of trust plays a major source
of any product information.
2. Commercial Sources- Increasing role of Influencers, and at least two
displays of advertising present at all times (T.V. And Cell Phones) keep
pushing information into a consumer’s mind.
3. Public Source- TV Radio and newspaper acts as a public source for
information.
4. Experimental Sources- From point of display or live demonstrations.
How changes in the lifestyle can play an
important role?
Traditional Mothers vs Modern Mothers
Traditional Fathers vs Modern Fathers
Today the traditional laggards are becoming early adopters, this is because of change in
lifestyle. Buying behavior, fashion consciousness, healthy life, brand perceptions, sound
financial management have helped develop a new outlook towards products.
This is an era of malls, online shopping, fast information flow and every changing
technology. A firm must account all this as any problem can escalate very quickly and
tarnish its image. Now a shift from consumer beware to seller beware approach is taking
place.

Examples-
Pepsodent-
Dentists involvement in its campaign helped it becoming a huge success. They
understood the point that women usually purchased toothpaste in the family and
leveraged this.

Coca Cola-
It took them 20 years to understand this but their “Thanda Matlab Coca Cola”
campaign was a great hit. A tradition of families asking its guests “Thanda ya Garam”
which means whether one wants a hot beverage or a cold one, helped them imprint
their image in each consumers mind making their product a generic name which
acted as a substitute of “Thanda”.

Herbal Soaps in South India-

In south India there is a huge demand of herbal products, and soon companies such
as Jyoti labs and Wipro CCL realized this and started an entire range of herbal
product to cater to the South Indian market. This increased their market share as
well as their brand value.