consumer behavior for unexpected prices
Post on 22-Jan-2018
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CONSUMER BEHAVIOR FOR UNEXPECTED PRICESSubmitted By:Gaurav Mahale (004)Krishna Bhawsar (007)Suraj Roziwala (016)
AGENDA
• Conceptual framework
• Dissonance reduction mode
• Product categories involved in Research
• Market Research
• Consumer Behavior survey
• Implication for managers
PRODUCT CATEGORIES INVOLVED IN RESEARCH
• High Involvement Category
• Personal Computer (Dell)
• Two Wheeler Vehicle (Royal Enfield)
• Low Involvement Category
• Confectionary
• Medicines
• Grocery products
MARKET RESEARCH ( EXPLORATORY)
• Research Problem
• To determine the behavior of consumers due to unexpected changes in price
• Hypothesis
Low Involvement Products
H0: Consumer will seek consonant information
H1: Consumer will change attitude
High Involvement Products
H0: Consumer will seek consonant information
H1: Consumer will change attitude
IMPLICATION FOR MANAGERS
• Know the market prices
• Justify the price
• Trivialize the price issue
• Avoid comparison
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