PERCEPTION OF CONSUMER BEHAVIOUR
- 1. PERCEPTION OF CONSUMER BEHAVIOUR Jayanthan 22MCM03 2nd M.com DRBCCC HINDU COLLEGE
- 2. CONSUMER PERCEPTION: Meaning: Customer perception is the opinions, feelings, and beliefs customers have about your brand. It plays an important role in building customer loyalty and retention as well as brand reputation and awareness.
- 3. Factors Influencing customer perception: 1. Consistency of performance 2. Emotional connect 3. Marketing communications 4. Holistic marketing 5. Personal experience 6. Advertising 7. Social media platforms
- 4. 1.Consistencyof performance How has the brand performed in the past and how it is performing currently. 2 .Emotionalconnect Superb brandsknow that emotional connection with the customer is critical to brand development 3.Marketingcommunications How the brand communicates with the customers using the various media vehicles. 4.Holisticmarketing A brand cannot be excellent if it has good sales staff but patheticsupport staff. A brand has to be a good all rounderand satisfy customers from all its touch points.
- 5. 5.Personal experience Personal experience is one of the most important influencers that can easily have a direct impact on customer perception. Our personal experiences matter most. When a customer experiences a good service or purchases a great product, the quality of goods and services matter. 6.Advertising Promotional campaigns are an integral part of any organization. It takes important steps to create advertisements that can change your perception about a brand easily.
- 6. 7.Influencers We all are surroundedby several influencers that have a direct and indirect impact on your mindset. It can change customer perceptionat the drop of a hat. Supposeyou saw an advertisement about apparel and were impressed by the brand. Next day you met your friend who told you about the horribleexperience he had at the brand outlet the otherday. Your perceptionchanges once again. 8.Socialmedia platforms This is the age of technology where most peopleare on one or the other social media portal browsing to their heart’s content. When you read reviews or comments about particularproductsservices of a brand, your sub-consciousmind automaticallytakes a decision.
- 7. Stages of Customer Perception There are 4 stages in consumer behavior
- 8. Exposure: Exposure includes the elements like colors, logo, sound, ambience which a customer experiences when they interact with a brand or a product. when we see a particular color and taste a unique flavor it can get our attention which forms the second stage.
- 9. Attention: Attention comes into picture when the exposure stage completes and the customer takes notice of the message and product being marketed. If the attention results in positive experience, it may get into the interpretation stage.
- 10. Interpretation: Interpretation is how a customer assigns meaning or some value to the inputs and experience in the first 2 stages of customer perception. It can lead to comparison with another similar product or some similar experience from the past. Overall the customer assigns some meaning to the overall experience with the product.
- 11. Retention: Now the final stage is when the customer remembers the interaction for future references by storing it in the memory. This means that the customer perception is now formed. It may be positive or it may be negative as well.
- 12. Importance of customer perception: 1. Brand loyalty 2. Increase in sales figures 3. Customer retention 4. Strengthens the bond
- 13. Brand loyalty It is important that both brand and customer perceptiontally. Sometimes what the brand is offering may differ from what the customer perceives. It can cause unfavorable reactionsfrom one or otherparties. Make sure that the brand is in completesync with the customers to boost their perception aboutits productsand services. Once you gain his faith, it becomes possible to earn his loyalty gradually. This helps the brand to increase its customer base and proves an advantage in terms of customer perception
- 14. Increase in sales figures The actual aim of a business entity is to boost its sales figures. It implements several steps to lure in its customers. Remember, it is the consumer perception that drives his Customer retention Serious competition forces the brands to decrease their prices because they want to win over customer loyalty at any cost. Although the sales figures increase the actual revenues does not increase at the same Rate. When you already have a good and loyal customer base because of positive customer perception, it becomes easier for a brand at customer retention. Behavior and ultimately leads to buying decision.
- 15. Creating & Improving Customer Perception:
- 16. Creating customer perception is a careful process which is conducted with customers to create the desired customer perception: 1. Customer Survey 2. Response Analysis and Customer Journey Mapping 3. Formulation of tactics to create perception 4. Reach to Customers with redefined/tweaked messaging