CONSUMER BEHAVIOR FOR UNEXPECTED PRICESSubmitted By:Gaurav Mahale (004)Krishna Bhawsar (007)Suraj Roziwala (016)

AGENDA

• Conceptual framework

• Dissonance reduction mode

• Product categories involved in Research

• Market Research

• Consumer Behavior survey

• Implication for managers

CONCEPTUAL FRAMEWORK

DISSONANCE REDUCTION MODE

PRODUCT CATEGORIES INVOLVED IN RESEARCH

• High Involvement Category

• Personal Computer (Dell)

• Two Wheeler Vehicle (Royal Enfield)

• Low Involvement Category

• Confectionary

• Medicines

• Grocery products

MARKET RESEARCH ( EXPLORATORY)

• Research Problem

• To determine the behavior of consumers due to unexpected changes in price

• Hypothesis

Low Involvement Products

H0: Consumer will seek consonant information

H1: Consumer will change attitude

High Involvement Products

H0: Consumer will seek consonant information

H1: Consumer will change attitude

CONSUMER BEHAVIOR SURVEY

IMPLICATION FOR MANAGERS

• Know the market prices

• Justify the price

• Trivialize the price issue

IMPLICATION FOR MANAGERS

• Know the market prices

• Justify the price

• Trivialize the price issue

• Avoid comparison

THANK YOU