Personal Factors affecting Consumer Behaviour Personal Factors affecting Consumer Behaviour Consumer Behaviour helps us understand the buying tendencies and spending patterns of consumers. Not all individuals would prefer to buy similar products. Consumer behaviour deals with as to why and why not an individual purchases particular products and services.
In this paper we present a new technique for the measurement. The technique is partly based on earlier research in this field but incorporates important new features. The approach is essentially psychometric.
The technique is presented in detail, and a number of applications show that it works and how it works. In general it is said, that the technique might be especially important to researchers at the present time because of the more central role played by pricing-strategies as part of the marketing-mix, and the scarcity of practical instruments in this field.
For instance, in an important handbook like Worcesters 1one discovers only 3 pages of the devoted to pricing-research, and in those only the pricing of new products is briefly discussed. With those the consumers can be grouped in a satisfactory way.
But what is the meaning of price-consciousness in a certain field in a quantitative sense? Yet, under the present economic conditions, the importance of pricing and thus of pricing-research is certainly on the increase. In this paper the technique will be presented and a number of practical examples will be discussed.
As many projects with PSM are under way at this moment, we expect to be able to present some new results and a better validation of the technique at the conference meeting. A word of warning seems to be in order.
Market researchers are often prone to a certain over-enthusiasm about a new A study of consumer perception and. We like to emphasise that while believing in the principle of the technique and its practical applicability, much work needs yet to be done, especially of a theoretical nature and in the field of the relation between perception and behaviour.
Marketing research and pricing problems Earlier Approaches; subject and techniques in general We shall mention very briefly some of the earlier approaches in the field of pricing-research. Within this frame, however, many companies have some latitude for choice, and the choice which will eventually be made will depend to a certain extent on the expected consumer reaction to a price and a range of prices.
The amount of latitude the company has, depends very much on the nature of competition, the structure of wholesale and retail business, the long-term goals of the company, and so on. Their latitude of freedom to set prices in anticipation of consumer reaction is limited because of the nature of competition which seems to favor an almost universal low pricing strategy.
This in its turn severely curtails the use of other marketing instruments that depend on a sufficient margin of profits. Limiting the study to consumer reactions to perceptions of prices, which subjects have market-researchers been studying?
Relatively early students have tried to study the reaction to the perception of prices by application of the psycho-physical methods borrowed from general psychology. Such data has been extensively used to construct price-behaviour models in various fields.
Especially here the techniques that are applied are not very satisfactory and most marketers are bound to lack belief in the results obtained by them.
Such experiments, however, are generally difficult to set up and are time and money consuming. Some Important earlier studies and approaches. Absolute threshold in price-perception The study of thresholds in sensation belongs to the field of psychophysics.
There are a number of ways to study such thresholds. Absolute limens define the upper and lower quantities in a stimulus e. As far as we know, Stoetzel 5 has been the first to apply the theory of absolute limens to the field of pricing. In general the absolute limens in the field of pricing are defined as the lowest price under which the consumer is starting to doubt the quality of a product, and the highest price which is yet acceptable to him or above which he tends to consider the product as too expensive.
The techniques yield cumulative curves which by some researchers were characterised as log-normal. Our analysis, however, follows a different path. Differential thresholds price-perception A differential limen in psychophysics is associated with the minimum quantity of a stimulus which is necessary for the respondent to detect a change in perception.
The most which can be said is, that a particular variant of the law holds under certain conditions Cooper. Relations between price-perceptions and quality Various researchers have commented on the very important function prices have for the consumer as indicators of quality. According to Stapel 13 quality can never be separated from price and both components have to be studied in a relative set-up.
Emery 14 mentions the following aspects: Many researchers commented on the finding that, given an untransparent quality of the product a buying situation e. The price-quality relation, however, is less important where the consumer feels able to judge quality in other ways.
We like to point out, that PSM is much connected with earlier work and theories. PSM can be compared to psychophysical approaches and techniques. Hopefully, however, we advocate, that PSM overcomes some important drawbacks in earlier approaches.
None of the techniques discussed seem to lead to very practical and valid results when applied in large scale ad-hoc consumer-surveys. We shall try to illustrate, that PSM may well hold promises as a practical and relevant technique to the marketing-researcher, as well to the theorist in the field.alphabetnyc.com video lessons have helped over , teachers engage their students.
Just a few seconds while we find the right plan for you Create your account. Visual perception is the ability to interpret the surrounding environment using light in the visible spectrum reflected by the objects in the alphabetnyc.com is different from visual acuity which refers to how clearly a person sees (for example "20/20 vision").
A person can have problem with visual perceptual processing even if he/she has 20/20 vision. Consumer researcher by training, I am a Finnish associate professor of marketing specialised in studying consumer experiences and culture and how they are mediated, .
PRC's Consumer Perception Study provides you with reliable data to see how your hospital’s services and programs stack up against the competition. PRC's Consumer Perception Study provides you with reliable data to see how your hospital’s services and programs stack up against the competition.
Consumers' preferences, behavior and perception of meat have been reviewed. • There is a need to reduce uncertainty and tie expectations more closely to tangible product properties.
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