MAR 4503 Lecture Notes - Lecture 4: Customer Retention, Risk Perception

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9 Jun 2016
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Perception in consumer behavior
Influencing perception
Consumer perception is an approximation of reality
Companies try to influence this perception by the way they present themselves
Perception of high value equals increases in sales
Reaching consumers
Key factor is exposure
Mor information, more comfortable customers feel
Can lead to marketing bombarding, which makes consumers stand out
Risk perception
The less familiar they are with the product, the less likely they will buy it
Offering product reviews
Flexible return policy
Customer retention
Maintain good reputation and product loyalty
Maintain a high standard customer service
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