The paper "Role of Consumer Perception in Customer Behavior" is a perfect example of marketing coursework. Approximation of what is real entails our perception of different subjects. An individual’ s brain gets exposed to different stimuli and tries to make sense out of it. Our perception is influenced by several factors that are sequential in nature. For it to impact an individual, exposure alone does not qualify to significantly influence an individual, at least not on a single trial basis. When the stimulus is made sense out of, interpretation results. Self-perception theory tries to illustrate how individual get an understanding of the driving force behind their buying behavior.
(Schiffman, O'Cass, Paladino & Carlson, 2013) Price perception Potential customers are appealed differently by different merchandisers. Some apply low product prices as a bait whereas upscale firms dictate value for money and quality. Price difference among different traders offering similar services or services and the quality perceived of the service or merchandise in question are the main factors which shape price perception (Krishna, 2012). Price perception highly determines customer satisfaction with their merchandises and if future purchases would be made. Benefit perception Enhanced, general, unsupported nutrition claims tend to be rejected by consumers, mostly for traditional foods viewed as being unhealthy although have a high value of nutrients.
Consumers are said to develop a tread towards higher scrutiny of the claims thus demanding detailed information on food purchases they make. (Troye & Supphellen, 2012) iiHow the customer perceive As an essential element of firms’ objectives and mission statements, value addition has been broadly illustrated in many practitioner works of literature. Long-term success is greatly dependent on it and customer value delivery in the modern business world of quality is just what matters.
However, even in the retail market where product evaluation is done before purchase is made minimal research has sorted the value construct issue. Moreover, there lacks a well-accepted technique to measure value. Consumer value involves, in a broad perspective, understanding current users, identifying arising opportunities for buyers, and wisely making payer’ s innovation. Consumer perception entails how people make opinions towards firms and the products they deal in by the purchases they order (Krishna, 2012). To find out how buyers perceive them, traders use consumer perception theory.
So as to attract new customers and retain existing ones, merchants also apply this theory. Systemic buyer value is a reflection of the value received by the customer and is dependent not only on a number of firms but also on different attributes. (Pynnonen, Ritala & Hallikas, 2011). Products have an array of extrinsic and intrinsic attributes which buyers apply to identify product quality. Those that cannot be separated from the physical product as an integral part of the product are referred to as intrinsic attributes.
Extrinsic attributes (e. g., brand name, warranty, price, country of origin) when changed have no physical effect on the product, but influence buyers’ quality perceptions. Intrinsic cues data mainly dominates extrinsic attributes in formulating views since it is regarded as more important than extrinsic attributes (Schiffman, O'Cass, Paladino & Carlson, 2013). When intrinsic information is rendered not useful and is rare, extrinsic cues are however highly applied to determine product quality.
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