A lot of times the consumer develops brand loyalty, “Having once experienced the discomfort of dissonance, it seems plausible that the consumer, in his attempt to avoid its recurrence, will adopt brand loyalty as a purchase strategy” (Jacoby and Kyner). A Brand gives the consumer a reason to buy one product instead of another. It does this by adding something intangible to purchase, ownership, or use of the product. These benefits are affected by brand image. Brand image has traditionally been thought of as method for acquiring customers, but it also influences current customers in the way that, “The package standing out on the shelf affects the consumer decision process, and package design must insure that consumer response is favorable” (Silayoi and Speece).
Since the main purpose behind advertising is to convince people to purchase some product, many times the claim will be that purchasing the good or service being sold will be beneficial in some way. However, is the product being sold even necessary for what one needs or wants? Can the product do what they claim it is capable of? Are there other options available that could do the same thing better? Being able to answer these questions can help avoid making an impulsive purchase based off of a clever sales pitch and then being disappointed when it is discovered that the salesperson’s claims did not hold up.
Providing a good service to one’s customer is the first step in generating consumer loyalty. Not providing a good service to a customer will only lead the latter to look elsewhere with his purchase. Customer satisfaction is a key component in having a customer that will return for future purchases. The organization need to research on its market and adapt to its demands. They need to investigate into the purchasing behavior of their audience.
The marketer’s objective is to take full advantage of the customer perceived value by increasing social, functional, psychological, and economic value and in turn decreasing the costs. One main challenge in introducing a value perception with consumers exists when a brand or product does not stand out in comparison to its competition. Distinction from other brands is a significant marketing emphasis. Additionally, if a company does not use market research, or if they obtain incorrect market research, they run the risk of making false expectations regarding what communications will affect
Some of researchers try to investigate all possible elements of package and their impact on consumer’s purchase decision, while others concentrates on separate elements of package and their impact on consumer buying behavior. Moreover some researchers investigate impact of package and its elements on consumer’s overall purchase decision, while others – on every stage of consumer’s decision making process. According to Rita package attracts consumer’s attention to particular brand, enhances its image, and influences consumer’s perceptions about product. Also package imparts unique value to products, works as a tool for differentiation, i.e. helps consumers to choose the product from wide range of similar products, stimulates customers buying behavior.
It only can encourage them to responds to purchase the goods or services. The loyalty programme influences the customers to choose but the factors (economic, brand/store-loyal, hedonist, social-relational, and apathetic) drive them to the services. They also positively correlated to intrinsic motivation and have a positive, long-term impression on purchase behaviour and loyalty. The findings have significant implications for loyalty programme managers to promote diverse rewards, segment their customer portfolios, and achieve differentiation through nonmonetary and monetary benefits.
In addition, the value approach involves not only telling the customers how good the offering is, but also learning from them about their preferences and desires. Delivering value. Finally comes delivering. It may be compared to place in the 4Ps approach. However, it is different because, while place requires just having a place where the customer can buy a product, delivering also involves making sure the customer will be able to get the most of the product.
So it is important thing that the service providers take responsive actions to avoid bad perceptions by people about the service and through this process they can easily maintain their good relationships with the customers which enhance the profits of the organizations. (Kennedy et al,1993). Concept of customer perception is self motivated so if the relationship of the customer with the or... ... middle of paper ... ...ice programs need to be formulated that deals with the differences in complaints and customers. Unluckily still there is a lack to understand the evaluation processes of different types of complaints by different type of consumers of service recovery efforts and their effect on outcomes such as customer satisfaction and loyalty. (Christo Boshoff, Ed Peelen, Marian Hoogendoorn, Yolanda van der Kraan).
This incorporates the likelihood to produce right quality of product at right price. • Service Quality: This dimension is the last and final factor of the value it appears when the customer has made up his mind to purchase a product or service. Service quality decides the relationship between the customer and the store. 2.4 Customer Satisfaction According to Kotler & Keller (2000) defined satisfaction as “a person’s feeling of pleasure or disappointment which result from comparing, a product perceived performance or outcome against his/her expectations. Hoyer (2008) also defined customer satisfaction and perceptions of quality are label we use to summarize a set of observable related to the product or services.
Now that you understand how price elasticity works and how it is calculated, it is time to take a closer look to the reasons its important for any business. Price tends to be an important part of consumer shopping decision and companies should understand just how important price is to consumers by calculating price elasticity of demand. In fact, price elasticity of demand is one of the key metrics for businesses. It can reveal crucial information about the business and its finances, as well as improve the company’s operational strategy. Firstly, since price elasticity measures the price and product quantity impact, it can reveal to the business how customers will react to price changes.