Consumer Perception, Consumption Preference and Purchase ...
Week 5 Exam feedback Consumer Behavior W5.pdf · New Age Consumer Behavior Week 5 Exam feedback...
Transcript of Week 5 Exam feedback Consumer Behavior W5.pdf · New Age Consumer Behavior Week 5 Exam feedback...
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New Age Consumer BehaviorWeek 5
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SESSION 9
Purpose of consumption
12. Consumer Attitudes
Purpose: understand consumption decisions
13. Consumer Satisfaction Mechanisms
Purpose: conceptualize consumer satisfaction when acquiring goods
SESSION 10
Readings discussions
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New Age Consumer Attitudes
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Consumption involvement with a product brings aboutan attitude – consumer attitude
It is the result of consumers having passed judgmentrelative to their intention and associated expectations.
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Attitudes help consumers:
Organize and simplify experiences
Seek rewards
Express personal values
Construct defense against threats to the self
Facilitate, maintain and disrupt social relations
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From all thepossible attitudessome dominate.
This is becauseattitudes are theexpression andtherefore result ofevaluatedexperiences.
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Dominant attitudes are repeated and stable over timebecause there are matched to the positive symbolicaspects of consumption– matching hypothesis (Hatfield).
Example: using Facebook to recommend businesses(recommendation = attitude matched to FB usage)
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But since consumption is asocial phenomenon as itinvolves interactions withother consumers or/andproducers, attitudes aresocially constructed: theattitudes one has dependon the attitudes othershave – balance theory(Heider).
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Consumer attitudes involve consumer judgments: valueestimates by setting an initial value with the firstconsumer experience (anchor) which is subsequentlyadjusted relative to subsequent experiences – anchor-and-adjust process (Tversky and Kahneman) .
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Consumer attitudes are influenced by the nature of thecontext consumption processes occur.
For analog products, the context is
exclusively sociocultural
For digital products the context / environment is
sociocultural;
functional (digital medium or device)
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If consumer attitudes towards analog products change withfocus, time and dimension, i.e. context, so do consumerjudgments and so do consumption decisions.
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Likewise for digital consumption.
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Consumer attitudes towards digital products evolve
Over time
Across cultures
Across functions
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Example:
Environment = tablets
Product = iads
Finding = iPad ownersare likely to be moresensitive to iads
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New Age Consumer Satisfaction Mechanisms
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In consuming digital and analog products there are threekey moments and two (?) areas:
Demand
1. Deciding on consumption (what, how much etc.)
Consumption
2. Consuming and taking pleasure in doing so
3. Appreciating the overall experience, hence a degree ofsatisfaction
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Deciding
Expected utility theory: emphasis placed on whatconsumers can derive as satisfaction from consumingan optimum quantity of products; example:anticipated satisfaction derived from e-shopping
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Deciding
Prospect theory: emphasis placed on how consumersvalue potential gains and losses that result frommaking losses; example: anticipated time savings frome-shopping
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Deciding
Satisficing theory: emphasis placed on how consumerstry to make acceptable rather than optimal decisions;example: purchasing shoes online is not an optimalprocess
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Satisfaction
Consumer satisfaction, as both aninternal and social state, refers tothe judgment of the degree towhich consumer intentions arefulfilled. The consumption ofdigital products is no different.
Consumer satisfaction may thus beunder-fulfilled or over-fulfilled.
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Satisfaction
Consumer satisfaction isbrought about through:
Product performance
Service quality
Choice criteria t
Satisfaction drivers
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Satisfaction
Consumer satisfaction is largely based on expectationsrelative to consumer knowledge and experience aboutproducts and services.
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Satisfaction
The expectancy-disconfirmation model (EDM) states thatthose expectations that are disconfirmed to be the keyinfluences of consumer satisfaction.
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Reading discussions