Consumer Perception And Consumer Behavior

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What is Consumer Perception? Businesses must always strive to satisfy consumers’ wants and needs. In order to do so, marketers conduct research to learn consumers’ impression and awareness on the companies and their opinions on the companies’ products and services. Consumer perception is defined as a process where consumers select and gather information then form opinions regarding products. Together with advertising, consumer perceptions strongly affect consumer behaviors. The study of consumer judgment offers the companies opportunities to know how their consumers behave in the markets and to develop marketing strategies in order for the companies to reach the primary goal of earning a profit. What Affect Consumer Perceptions?…show more content…
In this case, high price negatively affects consumer perception as they less likely purchase the goods or services. A majority of college students fall in the first group who would buy a product because of its low price. Students choose to buy a product from a competitor brand instead of their more familiar brand due to their limited budget, so as long as the product suit their needs, the product quality is not necessary to be highest, they are willing to switch brands. Lower-priced products can become more favorable. Other shoppers who are skeptical about the product quality will prefer more expensive products. They view high-priced products positively since they are convinced that the higher price, the higher product quality. They are willing to pay a large amount of money if it means the products and services satisfy their wants and needs. Those who prefer to pay more have a positive perception toward the high-priced products. People in professional fields tend to prefer to pay a large amount of money for a product that they need. Athletes do not mind spending money for their shoes because their jobs require high quality shoes. Expensive shoes guarantee to reach requirements. Sale promotions may result in a negative consumer perception toward a product. Those who believe that low priced goods or services are equivalent to low quality will regard sale promotions as a company’s strategy to empty poor quality products from the warehouse. They tend to
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