Consumer Behaviour - Assignment

Consumer Behaviour Assignment 1

CONSUMER PERCEPTION

This library note about consumer perceptions explains the role of perception in consumer behavior, highlights the key factors that affect perceptions in day-to-day life and covers some real life examples on how marketers have successfully (or not so successfully) used these concepts in practice

Table of Contents

Introduction2

Elements of Perception4

Sensation4

Absolute Threshold6

Differential Threshold6

Subliminal Perception7

Aspects of Perception9

Perceptual Selection9

Perceptual Organization10

Perceptual Interpretation11

Issues with Consumer Imagery12

Product Positioning and Repositioning12

Perceived Price, Quality and their Relationship 14

Perceived Risk17

Perceptual Mapping Techniques18

Factor Analysis18

Discriminant Analysis18

Multi-Dimensional Scaling (MDS)19

References20

Chapter 1: Introduction

Perception in marketing is described as a process by which a consumer identifies, organizes, and interprets information to create and associate meaning to products, services or brands. A consumer will selectively perceive what they will ultimately classify as their needs and wants. Thus, consumer perception is a marketing concept that encompasses consumer's impression, awareness and consciousness about a company or its offerings. Perception is typically affected by advertising, reviews, public relations, social media, personal experiences and several other channels. It is a psychological variable involved in the purchase decision process and plays a key role in influencing consumer behavior. Some of the other variables which also influence consumer buying behavior are: motivation, learning, attitude, personality, and lifestyle. All of these concepts are crucial in interpreting the consumer buying process and can also help guide marketing efforts.

The role of perception in consumer behavior is all about recognizing how consumers view a company’s product or service. A consumer's...