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By : chitra bannerjee, Consultant, Shining Consulting
Industry : Consumer Durables Functional Area : Consumer Sales
Activity:  7 comments  136 views  last activity : 04 19 2011 17:27:25 +0000
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Word-of-mouth: Word-of-mouth today encompasses a larger area than hearing from other people and getting influenced to buy. It covers the entire gamut from where we
get our information, including the social networking space. Backed by the authenticity
of their previous excellence corporations can create very powerful readiness to launch a new product. For example, there was a 2-day advance queue for the iPhone when it was launched in Japan.

First visual appearance: Having determined the product and brand you want to buy, you go to market. Suddenly a more costly competitive product grabs your attention at the point of purchase. They have managed their features so strongly that your fixed mind gets swapped and you buy even at a higher price merely by seeing a product where you can implicitly gauge higher value. This is the impact of perceptible selling differentiation. The first visual appearance also encourages purchase of an item not immediately necessary but on seeing it seems to be the right fit.

Actual experience: Actual experience does not guarantee your buyer will return, again and again, for repeat purchase. If primary purchase went very well but repeat purchase has stalled, it means deficiency has crept into your offer and its perceptible selling differentiation. Buyers in proliferated markets can always question a higher price. So you need to continuously measure your performance through a microscope to create repeat purchase of your product or service in the competitive environment. At the same time you need to permanently vibrate perceptible selling differentiation with strong buyer involvement from the inception of your product development. 

In a FMCG category, when we provide relevant stimuli to consumers, they may immediately like the subject, but they always want to check how it functions in usage after the first purchase. Apple has clearly demonstrated the power of consumer experience. I have always experienced the great difference it makes when you involve consumers at every stage of product development. I have very
often seen that the way we started and the way we ended to be very different because of bringing in buyers from inception.

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Chitra

 
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7 comments on "Three factors for purchase"
  Commented by  pradhnya meshram, MBA/PGDM student, MERC Institute of mgmt    | 04 19 2011 17:27:25 +0000
Buying behavior of consumers start from the selection of product and after sale service.If the company is good in providing this then the product will really done well for  that particular time only  bcoz product life cycle cannot remain stagnant.
  Commented by  NATTERAJA R. ARIKRISHNAN, AREA SALES MANGER, UNIFLEX CABLES LTD    | 04 09 2011 13:08:48 +0000
Nice one Ms.Chitra Bannerjee.
  Commented by  JAYANTA KUMAR BORAH, B.Tech/B.E. student, Annamalai university    | 04 08 2011 16:04:38 +0000
Really influencing topic on purchase...a good one madam
  Commented by  manish kumar, freelancer    | 04 08 2011 12:36:51 +0000
Thanks, Chitra ma'am for posting it on TOOSTEP
  Commented by  Virag Shah, Office coordinator, Prince pharma pvt. ltd.    | 04 08 2011 12:32:01 +0000
Ms. Chitra, apart from that you did mention there are many factor for purchase. Because today's time is being very crucial and competitive so many factor are affecting while buying. Day by day buying behavior is also changing.... Thanks for referal..
  Commented by  S. Muralidharan, Head, Project Planning/Strategy, Knowledge Foundation    | 04 08 2011 11:42:47 +0000
Do you have any such scheme for "visually impaired" and "dumb" customers! What drives them to buy?  
Whatever we are talking about are very subjective!  Anna Hazare was not a known brand in the country - why sudden preference - crowd is swelling day in and day out throughout the world!  The same people who were singing the song of "Cricket World Cup", singing Anti-corruption song now!  This is like "Mexican Wave"!  Consumer behaviour is also dictated by spontaneity!
  Commented by  SHRIKANT MANOHAR DANKE, Consultant, Project Management Consultancy Firm    | 04 08 2011 09:49:32 +0000
The given criteria / parameters are useful for any purchase.
Thanks, Chitra for posting it on TOOSTEP & thanks for referral.
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