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REPORT ON INTERNAL FACTORS THAT INFLUENCE CONSUMER DECISION MAKING BY THE VICE PRESIDENT
A number of factors influence the decision-making process of a consumer. Some of these are internal factors that are individualistic in nature. These factors cannot be seen, though they influence the consumer to a great extent. Motivation, attitude Learning, perception and personality etc. are some such factors. The processes by which these factors influence consumers have to be examined and understood. Marketers study these factors which the objective of influencing the decision process in their favor.
Perception
Perception is the process by which a person selects, organizes and interprets sensory stimulation to form a meaningful picture of the world. It is the process by which a consumer makes sense of the information that he receives.
Selective Attention
Exposure is the first step in the process of perception. The consumer has to first come across the stimulus or be exposed to it, to interpret it. Attention is the next step in this process.
.
Selective Distortion
Consumers process the information they have paid attention to. Consumers assign meanings to these stimuli while interpreting them.
Selective Retention
Only a selection of messages is retained in the customer’s memory. These messages are in line with the consumer’s existing beliefs and attitudes.
Importance of perception; Perception reduces the perceived risk associated with the purchase of an automobile.
STRATEGIES
Messages should be clear and use a highly credible source to minimize distortions.
Message should be positively reinforced to make sure that our messages are not overlooked.
Management should offer warranties to car in order increase the reduction of perceived risk.
Belief and Attitude
Belief comprises thoughts

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