Influencing High-Risk Purchase Decisions: A Marketing Perspective

As a marketing person, one must understand that to influence or encourage a purchase, they will need to encourage the need recognition. The marketing person should also be able to provide real-time, reliable and accurate information on the different types of car models to potential buyers to build on the corporate image as a trustworthy brand especially for purchase for high level of involvement. Marketers should also provide after sales support to reassure the buyers that they have made the right decision building brand awareness through constant promotions such as advertisements, co-sponsoring in a movie or television dramas.

FACTORS INFLUENCING BUYERS BEHAVIOR ON HIGH RISK PURCHASE

Perception is the cognitive process of how an individual

Additional four aspects of consumer personality have also been given, which include consumer materialism, innovativeness, compulsiveness, and ethnocentrism. Both Freudian and Non-Freudian aspects can be at play in influencing the consumer to purchase VW. Internally, consumer might have realized that the current car is not safe or that it consumes too much gas or has outdated design. Externally, the consumer might have got the desire to purchase a new car after seeing a friend, who drove a new car, because of inherent competitiveness. So, both Freudian and Non-Freudian aspects of personality could have played a role. In addition, consumer materialism can be another determinant of consumer’s desire to purchase a new car. The intent of the consumer to purchase a new car resulting from Non-Freudian aspects of personality is indicator of consumer materialism. Additional personality factor which are likely to influence are the lifestyle and social status of the person and how they impact the

Knowledge-function of attitude would determine if the consumer is able to memorize and retain the brand Volksvagen. Value-expressive function would enable the customer to determine that purchasing Volkswagen will help fulfill the values held closely by the consumer, which in this case are safety and cost. Utilitarian function might not play any significant role in the purchase of VW Bettle. Ego-defensive function would help the consumer realize that that buying VW Bettle would not only deliver on values such as safety and costs, but also help raise the social status of the buyer. It must be noted here, that consumers are unlikely to form such attitudes unless marketers deliberately effort to create these attitudes through