Consumer Behavior Perception

Topics: Marketing, Pricing, Perception Pages: 3 (893 words) Published: March 28, 2011
Perception is the process by which organisms receives, selects, organizes, and interprets information to create a meaningful picture of the world.

Perceived Price

Consumers perceive price in terms of both the actual amount to be sacrificed and the value to be gained. If a price is regarded as unfair, cheap, or expensive, purchase intentions of consumer will be greatly affected. Hence, consumer’s perception of product value about the hybrid car is bad then they’re not willingness to go a store or a service of Proton. Satisfaction-based, relationship, efficiency pricing is the pricing strategies that is used to enhance the perceive value.

A reference price is any price that consumers use as a basis for comparison in judging another price. External reference prices are prices supplied by a marketer as a means of influencing a consumer's price expectations. From our topic, regularly price of hybrid car of other brands is around RM140, 000 until RM160, 000. Proton set its hybrid car price is RM150, 000, the consumers might think that is plausible and assimilated. In contrast, internal reference prices are those learned or perceived over time by the consumer. It confined to a narrower range for some products than others and typically is lower than actual retail prices. Proton can used the penetration pricing strategy instead of the skim pricing strategy because the demand for hybrid car is elastic. Hence, Proton is able to increase the quantity of cars as decrease in price where is considered plausible. Besides that, bundling pricing which is the combined of two or more products in a package for a special able to affect consumers’ value perception. Due to bundles a group of products at reduced price, so that consumers have additional savings. Advertising also should be done by Proton to introduce the new hybrid car. Overall perception of the consumers will be affected either is good or bad is depends on strategies taken by Proton....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Consumer behavior Essay
  • consumer behavior Essay
  • Essay on Consumer Behavior
  • Essay about Consumer Behavior and Perception
  • Essay about Consumer Behavior
  • Essay on consumer behavior
  • consumer behavior final project Essay

Become a StudyMode Member

Sign Up - It's Free