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Consumer Imagery
Consumer Imagery
Consumer Imagery
An image is a total perception of something that individuals form by processing all the
information they are exposed to over time. Research indicate that consumers develop
enduring perceptions or images about brands, prices, stores and companies. These
inferences are consumers’ beliefs about products or services.
Table of Contents [Hide]
1 Consumer Imagery
o 1.1 Price perceptions
o 1.2 Perceived product and service quality
o 1.3 Perceived risk
Consumers may associate Patanjali with ayurvedic quality because of their advertising
or wordof- mouth communications from friends/family. Individuals develop a self-
image of themselves and certain brands carry a symbolic value for them. Some
products seem to match this self-image of an individual while others do not.
Price perceptions
Whether a consumer perceives the price of a product or service as high, low, or fair
has significant influence on buying intentions and post-purchase satisfaction.
Researchers have investigated the effects of three types of consumer price perceptions
communicated through advertising.
Plausible low prices are considered well within the range of acceptable market prices;
plausible high prices are close to outer limits of the range but still not beyond the
limits of believability and implausible high prices are definitely beyond the limits of
acceptable range of prices.
Consumers lacking actual experience with the product tend to judge the quality on the
basis of extrinsic cues such as brand image, price, or even the country of origin.
Lacking previous purchase experiences may lead to an awareness that higher-quality
products tend to cost more and high-price may become an indicator of higher-quality
and suspect the quality of low-priced products.
Kent B Monroe and Susan B Petroshius have summarized research findings to show
how consumers react to price variable:
1. Consumers seemingly use price as an indicator of product quality as well as an
indicator of the purchase cost.
3. Consumers’ reference prices are not constant and get modified by shopping
experiences. Their exposure to price higher or lower than reference price is likely
to result in upward or downward movement of the reference price.
5. Factors such as a brand image or store image can soften the strength of the
perceived price-quality relationship.
6. If the prices for different alternatives are perceived as similar, then price is unlikely
to influence the choice between these alternatives.
Perceived risk
Whenever consumers make decisions to purchase any new brands, there is an element
of uncertainty about the consequences and perception of risk is involved in most such
purchases. Risk perception can be defined as ‘the consumers’ perceptions of
uncertainty that they face when they are unable to foresee various consequences of
their purchase decisions.
The relevant risk dimensions are uncertainty and the consequences. It is worth noting
that the influence of risk depends on individual’s perception. This means that the risk
actually may or may not exist and even if a real risk exists but is not perceived, it will
not influence consumer behavior.
Consumers may face several different types of risks in making purchase decisions.
The major ones are:
1. Financial or monetary risk which is the risk that the product will not be worth its
cost. Expensive products and services are most subject to this risk.
2. Performance risk which is associated with the possibility that the product will not
perform as anticipated or may even fail. The consumer wastes time in getting it
repaired, or replaced. The risk is greatest when the product is technically complex.
Example: An expensive computer.
3. Physical risk which refers to bodily harm to self and others due to product usage.
For example food and beverages, electrical or mechanical appliances, or medical
services etc. can sometimes prove risky. When cooking gas (LPG) was first
introduced in India, consumers’ physical risk perception about it was high.
Similarly, some consumers consider the use of pressure cooker as risky.
4. Social risk which means that a poor product purchase may not meet the standards
of an important reference group and may result in social embarrassment.
More often than not, consumer stay brand loyal to avoid risk. Some of the strategies
that consumers adopt to deal with risk are:
Consumers acquire additional information. This allows them to better assess the
risk.
Consumers remain brand loyal. They stay loyal to a brand that has delivered
satisfaction instead of buying an untried brand.
Consumers buy a most popular brand because they usually believe that well-known
and popular brands can be trusted.
Consumers buy the most expensive model or brand as they often associate price
with quality.
Consumers rely on store image. They trust reputable retail outlets and depend on
them regarding their choice of merchandise for resale.
Buy the smallest pack size or lowest-priced item. In an attempt to reduce the
consequences, consumers buy the smallest size or the lowest-priced item.
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