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AXE KOHINOOR DO IT. RAKHI Get in! No.1 GOA DATE CALENDAR HOT

AXE

KOHINOOR

JUST DO IT.

RAKHI

GET IN!

NO. 1

GOA
MOUTH FRESHNER IS INJURIOUS TO HEALTH AND WEALTH!!

DATE

24 SEPTEMBER, 2011

CALENDAR

HOT

CONSUMER PERCEPTION

DEFINITION
The process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world

ELEMENTS OF PERCEPTION
Sensation Absolute threshold Differential threshold Subliminal perception

SENSATION
Sensation is the immediate and direct response of the sensory organs to stimuli

ABSOLUTE THRESHOLD
The absolute threshold is the lowest level at which an individual can experience a sensation.

DIFFERENTIAL THRESHOLD

DIFFERENTIAL THRESHOLD (JUST NOTICEABLE DIFFERENCE J.N.D.)

Minimal difference that can be detected between two similar stimuli Webers law
Difference between two stimuli is not an absolute amount but an amount relative to the intensity of the first stimulus The stronger the initial stimulus, the greater the additional intensity needed for the second stimulus to be perceived as different.

J.N.D
Negative changes are not readily discernible to the public Product improvements are very apparent

SUBLIMINAL PERCEPTION
Stimuli that are too weak or too brief to be consciously seen or heard

EAT POPCORN, DRINK COKE

PRODUCT POSITIONING

MEANING
Establishing a specific image for a brand in the consumers mind in relation to competing brands Successful positioning creates distinctive, positive brand image a

PRODUCT POSITIONING
Umbrella positioning Positioning against competition Specific benefit Unowned position Filling several positions

PRODUCT REPOSITIONING
Changing Scenario Competition Forceful or strategic

PERCEPTUAL MAPPING
Helps to determine how their products or services appear to consumers as compared to competitive products. Identify attributes Create a niche

POSITIONING OF SERVICES
Image is a key factor for services Services often want a differentiated positioning strategy to market several versions of their service to different markets.

HUM HAIN NA!! WE ARE LADIES AND GENTLEMAN SERVING LADIES AND GENTLEMAN

PERCEIVED PRICE
Reference prices Perceived Quality

Pricing Strategies as Perceived Value

Satisfaction based pricing Relationship pricing Efficiency pricing

UTILITY
Acquisition Utility Transaction Utility

PERCEIVED QUALITY
Products Services: SERVQUAL or RATER: It measures the gap between customer expectations and experience. RATER: Reliability, Assurance, Tangibles, Empathy, and Responsiveness.

BUSINESS CLASS

PRICE/QUALITY RELATIONSHIP
The perception of price as an indicator of product quality (e.g., the higher the price, the higher the perceived quality of the product.)

RETAIL STORE IMAGE

Pricing strategies Promotional offers Positioning strategy

MANUFACTURERS IMAGE
Pioneer brand image Ideal self-image Monopoly producer Stealth parentage

PERCEIVED RISK
The degree of uncertainty perceived by the consumer as to the consequences (outcome) of a specific purchase decision.

TYPES OF PERCEIVED RISK

Functional risk Physical risk Financial risk Social risk Time risk Psychological risk

HOW TO HANDLE RISK

Seek information Brand loyal Select brand image Store image Most expensive Seek reassurance

DYNAMICS/ASPECTS OF PERCEPTION
Selection Organization Interpretation

IDENTIFY THE PRODUCT

WE MAKE BRIDGES, NOT MISTAKES

PERCEPTUAL SELECTION
Nature of stimulus Expectations Motives Selective perception Selective exposure Attention Perceptual Defense Perceptual Blocking

PERCEPTUAL ORGANISATION
Figure and ground Grouping Closure

PERCEPTUAL INTERPRETATION
Appearances Stereotypes First impressions Jumping to conclusions Halo effect

ETHICS & PERCEPTION

Figure & ground Extreme makeover Infomericals J.N.D. Subliminal seduction Stereotypes

QUESTIONS
Explain perception and elements of perception. What are the dynamics of perception? What is consumer imagery? Explain positioning & repositioning. What are the types of risks and how consumers handle it.