The Hindu : Karnataka / Bangalore News : Consumer decision patterns change

Online edition of India's National Newspaper
Sunday, Jun 17, 2007
ePaper

Karnataka

Karnataka - Bangalore

Consumer decision patterns change

Special Correspondent

BANGALORE: Till now, we have only spoken about how consumers scrutinise everything in the market but we haven’t yet really zeroed in on how consumers make decisions in the marketplace.

In a new global competitive world, consumer decision-making patterns are radically shifting. There is compelling evidence for this shift in a rapidly changing business environment.

Survey

According to a survey on consumers conducted by a private firm, companies and organisations have engaged stakeholders in new and creative ways to attract customers.

Nearly two-thirds (63 per cent) of consumers in major cities are now deciding more quickly to support or reject issues, causes, companies, products and services than they did two or three years ago. Several factors are fuelling this speed — people are more informed, have stronger voices, and have easier access to information and experts.

Advocates of consumerism take action to support or detract from issues, causes, companies and products, such as making purchase recommendations, sending a letter to a company or elected official, or organising a protest or boycott.

Advertisements and opinions on brands forge emotional bonds and higher levels of engagement that help attract new customers and strengthen brand loyalty.

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