Evaluation Alternatives PDF

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Evaluation Alternatives: Assessing Value The information-search process clarifies the dilemma for the customer by recommending requirements for the order, or points to consider; presenting brand names that may fit the criteria; and creating expectations of consumer value. When purchasing a smartphone, what selection criterion would you use? Are you going to use price, characteristics, or some other combination? Dream of all the variables that you might think when testing smartphones. These variables are the evaluative metrics of a customer, which represent both the quantitative features of a brand (such as the number of apps available on the iPhone versus the Samsung Galaxy) and the subjective ones (such as the position of an iPhone-owned company executive) that you use to compare various goods and brands. To build the highest value for customers, businesses aim to define and make the most of all forms of evaluative requirements. In ads, these requirements are also highlighted. The knowledge quest process will presumably include visiting telecommunications carriers such as Rogers and Telus for a device such as a smartphone, searching out the websites of these companies, and talking to friends who own smartphones. Consumers also have multiple quality reference requirements. For starters, imagine that you concentrate on two of the evaluative criteria that are important to you, namely pixel density and screen size, among the evaluative criteria you might think of. These criteria determine the brands in the evoked set, the group of brands that a customer would consider acceptable among all the brands he or she is aware of in the product class. Your two evaluative parameters will result in an evoked collection of two brands (Samsung Galaxy and iPhone) in this case. See the Advertisement NewsFlash box, "Brands and Behaviour," for a further conversation on brands and their effect on customer purchasing behaviour. Purchasing Decision: Buying Value You are nearly ready to make a purchase decision after examining the alternatives in the evoked set. There remain three choices: the brand chosen, from whom to buy, and when to buy. The choice of which wireless provider to buy from will depend on such considerations as the location of the provider, the provider's past purchasing experience, and the return policy. Deciding when to buy is often determined by a number of considerations. For example, if one of your preferred brands is on sale or its manufacturer offers a rebate, you might buy earlier. Other factors, such as the atmosphere of the store, the pleasantness of the shopping experience, the persuasiveness of the salesperson, time pressure, and financial conditions, could also affect whether or not a purchase decision is made or delayed. If your decision is the latest Samsung Galaxy, you can choose to buy it from Telus because it offers six months of unlimited local calling as an additional incentive. The process of collecting information, evaluating alternatives, and making purchasing decisions has been enabled by technology. The purchase decision process can speed up the process by adding this technological dimension to the consumer, because it puts information at the fingertips of consumers. Mobile technology's effects on purchasing behaviour Not only are mobile devices popular consumer purchases, but they are also enablers of the decision to buy from consumers. By making the information-search and purchase-decision stages simpler, mobile devices have allowed the purchase decision to evolve. Younger and future customers expect companies to have an online presence and use technology to research products, voice opinions, and express needs. Mobile devices have greatly empowered consumers and caused businesses to take notice. Best Buy uses a variety of strategies, including those that exhibit showrooming behaviour, to successfully retain

customers in its stores. To improve the consumer experience, Cineplex Entertainment has leveraged mobile technology. Tickets can be purchased online from your home computer, at the box office, or at a kiosk on-site when choosing a movie at the theatre. For moviegoers, Cineplex Mobile offers an easy-to-use service to buy tickets online. BEHAVIOUR POST-PURCHASE: VALUE IN CONSUMPTION OR USE The consumer compares it with his or her expectations after purchasing a product and is either satisfied or dissatisfied. The sensitivity of a business to the consumption experience of a customer strongly influences the value after the purchase that a customer perceives. Studies show that consumer communication and repeat-purchase behaviour are affected by satisfaction or dissatisfaction. Satisfied buyers tell about their experience to three other individuals. Nine people are complaining to dissatisfied buyers! 12 In addition, mobile technology enables buyers to share complaints and dissatisfaction with even greater reach in a timelier way. In response, some businesses hire staff to monitor sites such as Twitter exclusively and interact with unsatisfied customers right on the site. They are starting to realise that the consumer's voice on the web is very powerful. Consumers who do not find satisfaction when there is a problem may take matters online into their own hands. If a company were to google its name followed by the word "sucks," it would find a large number of hits consisting of negative storeys about the experiences of customers with its products. On Twitter and Facebook, other customers are venting their frustrations. Progressive companies use this feedback as an opportunity to link up and solve the problems with these disgruntled customers. Often, two or more highly attractive alternatives are faced by a consumer, such as choosing between an iPhone and a Samsung Galaxy. If you opt for the Samsung Galaxy, you might think, "Should I buy an iPhone?" This feeling of psychological tension or anxiety after purchase is called cognitive dissonance. Consumers often attempt to applaud themselves for making the correct choice to alleviate it. So, you can seek information after purchase to confirm your choice by asking friends questions such as, "What do you think of my new smartphone?" or by reading your chosen brand ads. You might even look for negative features about the brand you did not buy. In this post-purchase phase, companies often use advertisements or follow-up calls from salespeople to ensure that buyers have made the right decision. It is essential for businesses to address consumer feelings of dissonance as it affects their levels of satisfaction and loyalty. VARIATIONS INVOLVEMENT AND PROBLEM SOLVING Consumers may not engage in the five-step purchase decision process in the same manner, depending on the purchase decision. Depending on the level of involvement required, they may skip or minimise one or more steps. The level of participation that a customer has in a particular the purchase is dependent on the consumer's personal, social, and economic consequences of that purchase. Items such as soft drinks or toothpaste may have such a low level of consumer involvement that one or more steps in the process may be skipped or minimised. But for a high-involvement purchase like a computer or an automobile, consumers may do just the opposite. Typically, high involvement buying opportunities have at least one of three characteristics: the item to be bought is costly; it is bought infrequently; or it might reflect on one's social image. Consumers engage in extensive data search for these occasions, consider many product attributes and brands, form attitudes, and engage in word-of - mouth communication. Marketers who sell high-involvement products such as cars, homes, and computers must understand the process of consumer information collection and evaluation. Based on customer engagement and product awareness, researchers have

identified three general differences in the consumer purchasing process. Some of the significant differences between the three variations in problem solving are summarised. Routine Problem-Solving Consumers identify a challenge, make a decision, and spend no time finding external knowledge and testing substitutes for items such as table salt and milk. The purchasing process is virtually a habit for such items and typifies decision-making with low involvement. For low-priced, frequently purchased products, routine problem-solving is typically the case. A consumer who stops by Tim Hortons on his way to work and buys a coffee and a bagel is an example. And if they are all on their way to college, he does not ponder the possible benefits of going to a Second Cup or specialty coffee shop. By creating strong brand relationships with the consumer, marketers strive to attract and maintain habitual buying behaviour. Limited Problem Solving Limited problem solving is characterised by low involvement of consumers but significant differences between brands that are perceived. A customer likes Activia yogourt, for instance, but switches to BioBest yogourt, not out of dissatisfaction, but out of a desire to try something new. Before selecting BioBest, the consumer may have spent a moderate amount of time evaluating the available brands in the store. Consumers rely more on previous experience than external knowledge with minimal problem-solving behaviour, however they can pay attention to new variations seen in ads and point-of purchase displays. Leading brand advertisers should concentrate on getting shoppers to move to routine problem-solving behaviour by dominating shelf space and running ads that inform customers of their products' advantages. When choosing a pair of jeans, deciding on a restaurant for dinner, and making other purchasing situations in which they have little time or effort to spend researching options, consumers may use limited problem-solving. Extended Problem Solving Each of the five stages of the consumer purchase decision process is used in the purchase process for extended problem-solving, including considerable time and effort to search for external information and identify and evaluate alternatives. In the evoked set, several brands are, and these are evaluated on many attributes. Extended problem-solving exists for items such as automobiles, houses, and financial investments in high involvement purchasing situations. PURCHASE Customer DECISION PROCESS INFLUENCERS The marketing mix of a business affects the customer purchasing decision process, whether decisions involve regular, minimal, or prolonged problem solving. It shows how the marketing balance and other considerations play a part in choices. Significant situational, psychological, and socio-cultural factors may affect the decision to purchase a product. Throughout the rest of this section, these forces are explored....