“how we see the world around us.” Two individuals may be exposed to the same stimuli under the same apparent conditions, but how each person recognizes, selects, organizes, and interprets these stimuli is a highly individual process based on each person’s own needs, values, and expectations. The influence that each of these variables has on the perceptual process and its relevance to marketing will be explore later. First, however, we will examine some of the basic concepts that underline the perceptual process. These will be discussed within the frame work of consumer behavior. Individuals act and react on the basis of their perceptions, not on the basis of objective reality. For each individual, reality is a totally personal phenomenon, based on that person’s needs, wants, values, and personal experiences. Thus, to the marketer, consumers’ perceptions are much more important than their knowledge of objective reality. For if one thinks about it, it’s not what actually so is, but what consumers think is so, that affects their actions, their buying habits, their leisure habits and so forth. And, because individuals make decisions and take actions based on what they perceive to be reality, it is important that marketers understand the whole notion of perception and its related concepts to more readily determine what factors influence consumers to buy. Before the introduction of low-calorie beer, consumers had no preconceived view of the product. Because Miller understood the behavior of beer drinker, it provided the company with a way to interpret the new offering in a manner congruent with their needs, which Gablinger’s failed to do earlier for the same product. The psychological and physiological bases of human perception and discusses the principles that influence our perception and interpretation of the world we see. Knowledge of these principles enables astute marketers to develop advertisements that have a better-than-average chance of being seen and remembered by their target consumers. Consumer’s selection of stimuli from the environment is based on the interaction of their expectations and motives with the stimulus itself. The principles of selective perception include the following concepts: selective exposure, selective attention, perceptual defense, and perceptual blocking. People usually perceive things they need or want and block the perception of unnecessary, unfavorable, or painful stimuli.
A consumer’s buying behavior refers to the response and reaction of the ultimate consumer to various situations involved in purchasing and using various goods and services. Generally, consumers buy products, which are capable of satisfying their needs. Thus a product is anything that is offered to a market and is capable of satisfying the needs of the customer. According to consumer perceptive products are divided into the following ways: - a) Tangibility
Depending on the level of availability expected by the customers, products can be put in three categories: - a) Convenience products
b) Shopping products
c) Specialty products
The volume of goods and services that a consumer buys depends on his requirements and his willingness and ability to products. Thus, the volume of business in a particular market depends on the following: - a) Consumer population
b) Consumer requirements
c) Consumer potential
The decision – making process of the customer takes place in six steps: - Stimulus
Evaluation of alternatives
Post purchase behavior
Whenever a customer purchases a product, he goes through a process of decision-making. He may or may not go through all the six steps mentioned above in the decision-making process. COMPANY PROFILE
Religare Securities Ltd.
Religare Securities Ltd is a Ranbaxy promoter group company, is one of India’s largest and fastest growing integrated financial services institutions. The company offers a large...