Consumer Perceptions Determine Success and Failure of Product?

Consumer Perceptions Determine Success and Failure of Product?

Posted by Dr.U.Devi Prasad, Associate.Professor,HBS,GITAM University

Perception is important for marketers as it determines the success or failure for their products in the market. Perception is different from objective reality. Individual perception depends on subject’s psychological condition and environment.  An understanding on perception process enables marketing managers to come up with successful products. The most important psychological principle “Gestalt Psychology” offers an insight on how perception functions in human beings.

Consumers pay attention to only particular product attributes and process only a part of the advertising messages directed to them. What consumers learn about products, servicesbrands, and stores is largely an outcome of their needs, expectations and experiences. What may seem obvious and critical for marketers may be too subtle or even trivial for consumers.

The success story of the i phone 4S is a case in point. Apple achieved roaring success with the 4S model when it sold more than 4 million units during the first weekend of its launch in October 2011. The i Phone 4S scored very high on the customer satisfaction front, with 77 percent of owners saying they are very satisfied with the 4S. The phone also received a “thumbs up” from Consumer Reports, when the magazine highly recommended it to readers.

The author can be reached at udeviprasad@gitam.in

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