Consumer Choice Process

Consumer choice process is that aspect of consumer behaviour, which, if based on intuition can lead to misleading results. Measurement of consumer choice process with the help of choice models makes the results reliable as well as trust worthy. In order to build long-term relationship with consumers, marketers need to understand how consumers actually make their purchase decisions so as to design appropriate marketing programs. If the companies are able to change the mindset of the consumers, that is, if they are able to make the consumers buy their brands, there would be immense chances for higher growth in future. This book provides a platform to cope with increased competition in light of the dynamics of consumer shopping behaviour. Marketers can utilize the existing patterns of information search behaviour in their target market in order to launch a new product or to reposition their existing product. Brand choice probabilities can be used for market segmentation. New products and marketing programs can be targeted at those consumers who frequently switch brands by studying their switching behaviour.