Welcome to MBA Marketing Management BUYING BEHAVIOR

[Audio] Welcome to MBA Marketing Management MBA – MARKETING MANAGEMENT BUYING BEHAVIOR.

[Audio] CONSUMER PERCEPTION & ATTENTION  Perception and Its Role in Consumer Behavior  Sensory Marketing and Consumer Perception  Attention and Selective Perception  Perceptual Organization and Interpretation  Brand Perception and Consumer Preferences.

[Audio] PERCEPTION AND ITS ROLE IN CONSUMER BEHAVIOR Perception in Consumer Behavior:  Perception plays a crucial role in consumer behavior as it influences how individuals interpret and make sense of the world around them, including products, brands, and marketing messages. Understanding perception is essential for businesses to effectively target and influence consumer decision-making processes. Definition of Perception:  Perception refers to the process by which individuals select, organize, and interpret sensory information to create a meaningful understanding of their environment. It involves the way people perceive stimuli such as advertisements, product packaging, and brand images..

[Audio] PERCEPTION AND ITS ROLE IN CONSUMER BEHAVIOR Perceptual Processes:  Selective Attention: Consumers tend to focus on specific stimuli while ignoring others. Marketers must design attention-grabbing advertisements and product displays to capture consumers' attention amidst the clutter of information.  Selective Distortion: Consumers may interpret information in a way that aligns with their existing beliefs and attitudes, leading to distortion of marketing messages. Marketers must be mindful of consumers' preconceptions and strive to present information accurately.  Selective Retention: Consumers remember information that is consistent with their beliefs and needs while forgetting contradictory information. Marketers should aim to create positive associations with their brands to enhance recall and retention..

[Audio] PERCEPTION AND ITS ROLE IN CONSUMER BEHAVIOR Factors Influencing Perception:  Individual Factors: Personal characteristics such as demographics, personality traits, and past experiences shape individuals' perception of products and brands.  Situation Factors: The context in which consumers encounter stimuli influences their perception. Factors like time pressure, mood, and the presence of distractions can affect how consumers perceive marketing messages.  Stimulus Factors: Characteristics of the stimulus, including its size, color, intensity, and novelty, influence consumers' perception. Marketers utilize these factors to create memorable and impactful marketing communications..

[Audio] PERCEPTION AND ITS ROLE IN CONSUMER BEHAVIOR Perception and Buying Behavior:  Brand Perception: Consumers' perceptions of a brand influence their purchase decisions. Positive brand perceptions, such as quality, reliability, and status, can lead to brand loyalty and repeat purchases.  Product Perception: How consumers perceive a product's features, benefits, and value proposition significantly impacts their purchase intentions. Marketers must manage product perceptions through effective branding, packaging, and positioning strategies.  Price Perception: Consumers' perception of price relative to quality, value, and affordability influences their willingness to purchase. Marketers can shape price perceptions through pricing strategies such as discounts, promotions, and psychological pricing tactics..

[Audio] SENSORY MARKETING AND CONSUMER PERCEPTION Introduction to Sensory Marketing:  Sensory marketing involves the strategic use of sensory stimuli to influence consumers' perceptions, emotions, and purchase behavior. It recognizes that consumers engage with products and brands through multiple senses, including sight, sound, smell, touch, and taste. By leveraging sensory experiences, marketers aim to create memorable and immersive brand interactions that resonate with consumers on a deeper level. Understanding Consumer Perception:  Consumer perception refers to the process by which individuals interpret and make sense of sensory information to form judgments and attitudes towards products and brands. Sensory marketing taps into this process by strategically designing sensory stimuli to evoke desired perceptions and emotional responses in consumers..

[Audio] SENSORY MARKETING AND CONSUMER PERCEPTION Sensory Stimuli in Marketing:  Visual Stimuli: Visual elements such as colors, shapes, images, and packaging design play a crucial role in shaping consumers' perceptions of products and brands. Marketers use visual cues to convey brand identity, product attributes, and emotional associations.  Auditory Stimuli: Sound can influence consumers' mood, emotions, and brand perception. Marketers utilize music, jingles, and sound effects in advertisements and store environments to create ambiance and evoke desired feelings.  Olfactory Stimuli: Scents have a powerful impact on memory, emotion, and behavior. Brands leverage ambient scents, fragrances in products, and scent marketing to create positive associations and enhance the overall sensory experience.  Tactile Stimuli: The texture, weight, and feel of products influence consumers' perceptions of quality, luxury, and value. Marketers design products and packaging with tactile elements to evoke sensory pleasure and enhance perceived value.  Gustatory Stimuli: Taste experiences, such as product samples and food tastings, can influence consumers' perceptions of flavor, quality, and satisfaction. Marketers use taste stimuli to engage consumers' senses and create memorable brand experiences..

[Audio] SENSORY MARKETING AND CONSUMER PERCEPTION Impact of Sensory Marketing on Buying Behavior:  Enhanced Brand Recall: Sensory-rich experiences create stronger and more memorable brand associations, increasing the likelihood of consumers recalling and recognizing the brand when making purchasing decisions.  Emotional Connection: Sensory stimuli evoke emotional responses, fostering a deeper connection between consumers and brands. Positive emotions associated with sensory experiences can lead to increased brand loyalty and repeat purchases.  Perceived Product Quality: Sensory cues such as packaging design, product appearance, and texture influence consumers' perceptions of product quality and value. Marketers can enhance perceived quality through sensory branding and product presentation.  Purchase Intentions: Engaging multiple senses through sensory marketing can positively impact consumers' purchase intentions by creating a holistic and immersive brand experience that resonates with their preferences and desires..

[Audio] ATTENTION AND SELECTIVE PERCEPTION IN BUYING BEHAVIOR Introduction to Attention and Selective Perception:  Attention and selective perception are critical concepts in consumer behavior that influence how individuals process and interpret information related to purchasing decisions. Attention refers to the cognitive process of focusing mental resources on specific stimuli, while selective perception involves filtering and interpreting information in a way that aligns with pre-existing beliefs, attitudes, and preferences. The Role of Attention in Buying Behavior:  Attentional Processes: Consumers are constantly exposed to a multitude of marketing stimuli, including advertisements, product displays, and promotional messages. Attentional processes determine which stimuli receive cognitive resources and capture consumers' awareness.  Selective Attention: Due to limited cognitive capacity, consumers selectively attend to stimuli that are personally relevant, novel, or salient. Marketers must design attention-grabbing advertisements and marketing campaigns to capture consumers' attention amidst competing distractions..

[Audio] ATTENTION AND SELECTIVE PERCEPTION IN BUYING BEHAVIOR Factors Influencing Attention:  Novelty and Uniqueness: Novel or unique stimuli are more likely to attract attention as they stand out from familiar or routine experiences. Marketers can leverage novelty through innovative product designs, packaging, and marketing campaigns to capture consumers' attention.  Relevance: Consumers are more likely to attend to stimuli that are personally relevant to their needs, interests, or goals. Marketers must tailor their messages and offers to align with consumers' preferences and motivations to increase attentional engagement.  Emotional Appeal: Emotionally evocative stimuli are more likely to capture attention and enhance memory encoding. Marketers use emotional appeals in advertisements and storytelling to engage consumers' emotions and increase attentional processing..

[Audio] ATTENTION AND SELECTIVE PERCEPTION IN BUYING BEHAVIOR Selective Perception and Buying Behavior:  Confirmation Bias: Consumers tend to interpret information in a way that confirms their existing beliefs, attitudes, and preferences. This confirmation bias influences how consumers perceive product features, brand attributes, and marketing messages.  Selective Distortion: Consumers may distort or reinterpret information to align with their preconceived notions or expectations. Marketers must be aware of consumers' biases and strive to present information accurately to avoid misinterpretation or misunderstanding.  Selective Retention: Consumers are more likely to remember information that is consistent with their beliefs and needs while forgetting contradictory information. Marketers should reinforce positive brand associations and messages to enhance retention and influence purchase decisions..

[Audio] ATTENTION AND SELECTIVE PERCEPTION IN BUYING BEHAVIOR Implications for Marketers:  Attentional Capture: Marketers must design attention-grabbing stimuli and capitalize on factors such as novelty, relevance, and emotional appeal to capture consumers' attention effectively.  Message Alignment: To mitigate selective perception biases, marketers should ensure that their messages and offerings align with consumers' preferences, beliefs, and needs.  Consistent Reinforcement: Marketers should consistently reinforce positive brand associations and messages to enhance selective retention and influence consumers' long-term perceptions and buying behavior..