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consumer involvement.pdf
- 1. LOKESH.N 22MCM06 2ND M.COM D R BCCC HIN D U COLLEGE Consumer Involvement
- 2. THE LEVEL OF INVOLVEMENT A CONSUMER HAS WITH A PRODUCT CAN GREATLY AFFECT THEIR PURCHASING BEHAVIOR. LET'S EXPLORE THE FACTORS THAT INFLUENCE THIS INVOLVEMENT AND HOW IT CAN BENEFIT BUSINESSES Consumer Involvement
- 3. ProductImportance How importantisthe productto theconsumer'slife? Moreimportant productswill require moreinvolvement ❑ PersonalRelevance Howpersonallyrelevant is the productto theconsumer?The more relevant,themore involvement ❑ Risk The higher the risk of the purchase,the more involvementconsumerswill have. ❑ PerceivedCost Consumerswill be moreinvolved if they perceive a productto be expensiveor difficult to obtain Factors InfluencingConsumerInvolvement
- 4. Types of Consumer Involvement Enduring Involvement A long-term interest or commitment to a product category, such as a passion for sports equipment or a hobby like gardening. Situational Involvement A temporary interest or necessity for a product, such as a car purchase or buying a gift for someone Emotional Involvement An interest driven by positive or negative feelings towards a product, such as a brand being associated with a positive memory.
- 5. Benefits of Increased ConsumerInvolvement Increase in Brand Loyalty Consumers who are invested in a product are more likely to stick with that product and become repeat customers Insight into Consumer Behavior By analyzing consumer involvement, businesses can understand why certain consumers make the choices they do Product Development With consumer involvement, product development teams can receive valuable feedback early on to improve a product before it is released to the public
- 6. Measurementof Consumer Involvement Self-ReportMeasures Surveys, interviews,and questionnairescan be used to ask consumers about their involvementlevels ObservationMeasures Observingconsumer behavior,such asamount of time spent researching a productor engaging with a brandon socialmedia, can provideinsight into involvementlevels.
- 7. Involvement Strategiesfor Increasing Consumer Personalization Allowing consumersto personalizea product can increaseinvolvementby makingit morerelevant to their needs. ❑ Gamification Addinggame-like elements, such as rewardsor challenges,can increase involvementby makingtheexperiencemore fun and engaging. ❑ Community Creating a communityarounda productcan increaseinvolvementby allowingconsumersto connectwith otherswho sharetheir interest ❑ Education Providinginformationandresourceson a product or topiccan increase involvementby makingconsumersfeel more knowledgeableabout their decision.
- 8. Challengesin Involving Consumers 1 Competition Consumers have a limited amount of time and resources, and businesses must compete for their attention and involvement. 2 Misunderstanding Businesses may not fully understand what drives consumer involvement, leading to ineffective strategies 3 Lack of Interest Some products simply may not be interesting or relevant enough to consumers to warrant high involvement.