Question

Imagine you were a consumer thinking about buying a 3-D TV. 1. First, quickly at a glance, what TV do you think you would buy? 2.On what criteria do you think you based that decision? Try these decision making processes, see what brand results for each, and see how confident you feel about the resulting brand suggested from each approach: 3. What attribute do you find least informative? Eliminate that row. Continue to do so until a clear brand winner emerges. 4. Which brand of TV would seem to be riskiest to buy? Eliminate it. Continue until an obvious choice results. 5. If you made a price-based decision, would you be happy? 6. How would your final brand choice define you? 7. Which of these criteria wouldn't have concerned you? How similar was this thought process to your natural analysis? How can you find out if your consumers think along these lines?

Answer 1

There are normally five stages in consumer decision making process:

• Need Recognition
• Search for information
• Product evaluation
• Product purchase
• Postpurchase use and evaluation

1. 3D TV having nice viewing experience and is value for the price.

2. Price and 3D viewing experience.

Criteria used in decision making process:

Size

Different sizes are available in the market. Inches of 32, 40, 42, 55.

Brand A offers 32 and 40 with lower price range

Brand B offers 42 and 55 with moderate price range

Brand C offers only 55 with high price range

Brand D offers both 42 and 55 with very high price ranges with more advanced technologies.

Brand E offers only 55 with a moderate price range but relatively unknown brand.

My preferrence is always large-size TV sets and my understanding is 3D viewing experience is better on large size sets and I preferred established brands. This narrowed buying chioces to Brands B, C and D.

Viewing Experience

Viewing experience of both Brands B & C are similar and Brand B is slightly better than others.

Price

On basic unit

Cost of additional equipment

After adding costs of both TV Sets and 3D Glasses & 3D blueray discs, Still Brand B is Cheaper.

Technology

There are different display technologies like Anglyph 3D, Polarized 3D, Active Shutter system and head-mounted display.

3. Least information available on the Technology used in Brand D and it is difficult to understand. Brand D is least informative. After evaluating all the attributes in my decision making process, Brand B emerges as Clear choice. Good viewing experience at Reasonable Price.

4. Brand D with highest price Tag and non-iformative and unproven technology in the market place is the riskiest choice.

5. Yes, It is high involvement decision and if I get decent value and experience for the price I paid.

6. Consumer is price sensitive, value conscious and also influenced by brand image and market information.

7. Technology used. My Dominating criteria to this criteria is my user experience and how it satisfies my preferences.

Finding out whether consumers think along these lines:

• By engaging with intelligent customers and by offering customer loyalty programs and by creating customer profiles
• By using data from web analytics
• Surveying the consumers and their preferences
• By asking for post purchase feedbacks or customer reviews
• By holding marketing events
• By using the services of market research firms