2nd personality consumer imagery lec
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CONSUMER IMAGERY
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....
could get linked with over a period of time. It
the brand and how they will react to it in the.
ran magery p ays an mpor an ro e nshaping the association in the consumer'spsyc e. nce an assoc a on was eve opestayed with consumers for a long time.
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What is Consumer imagery?What is Consumer imagery?When consumers’ attem t to reserve or enhance their
self image by buying products & brands or patronizingservices which they believe are congruent with their self-images and avoiding which are not then this phenomenon is
known as consumer imagery.
Eg:-Fast Track and Sonata brands are both fromTitan but have a clear image with regard to their
.
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Examples….Examples….
For several years, Robin Blue was associated.
and the bird on it symbolized whiteness and was a ouse o ran .
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` ' .
Horlicks had a `drink for thesick' association a few decadesa o.
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Perceived Price
Price-Quality Relationship
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Product positioningProduct positioning
It conveys the concept of the product or service in terms ofow u s a consumer nee .
g:-Pears – Glycerine based & Pure
-Boost – Stamina
–Big Bazar – The best quality at the lowest of prices –
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Positioning StrategiesPositioning Strategies
Umbrella Positioning (Sony, McDonalds, LG)
Positioning Against the Competitor (7 Ups’ slogan “the Un-Cola”)
Positioning based on Specific Benefit (Horlicks for Women, FedEx“When its absolutely, positively has to be there overnight”)
Finding an “Un-owned” Position (When Fair & Lovely entered the
men s mar et or a rness creams
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Perceived ricePerceived riceWhat is the image as far as pricing is concerned (high,
.
Perceptions of price unfairness can affect consumers percep ons o a pro uc or serv ce an a so w ea hindrance in patronizing that store or service.
Types of pricing strategy:-
SATISFACTION BASED PRICING (Mc Donalds)
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Pricing Strategies Focused onPricing Strategies Focused onPerceived ValuePerceived Value
Satisfaction-based Pricing e at ons p r c ng
Efficiency Pricing
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Reference prices
◦ Internal◦
ExternalReference prices are of two types:-
INTERNAL REFERENCE PRICING
EXTERNAL REFERENCE PRICING customers and internal pricing which with time changes is retrievedby the consumer from memory.
Eg:-Prices of computers declined sharply due to competition and
manufacturers abilities to produce them more cheaply
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Tensile and ObjectiveTensile and ObjectivePrice ClaimsPrice Claims
Evaluations least favorable forads stating the minimumdiscount level
Ads stating maximum discountrange
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Perceived Quality of Products◦
Intrinsic vs. Extrinsic CuesPerceived Quality of ServicesPrice/Quality Relationship
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The perception of price as an indicator of product quality
e.g., t e ig er t e price, t e ig er t e perceivequality of the product).
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(continued)
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Figure 5-9 (continued)
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Functional Risk
Physical Risk Financial Risk Psychological Risk
Time Risk
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Stay Brand Loyal
Rely on Store Image
Seek Reassurance
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Make perceptual selection work in your
favour◦ Increase accidental exposure◦ Use the j.n.d◦ Draw attention to our ad usin contrast and other rinci les◦ Find creative ways to reduce blocking◦ Ensure that consumers organize and interpret
◦ Develop suitable consumer imagery◦ Find ways to reduce perceived risk
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