Customer Decision Making

 

• Customer identifies the need or the problem that has to be fulfilled or satisfied.
• Then the customer searches for information which comes from his/her or other trusted members' experience.
• There are a list of alternatives that would be available after the search. These are evaluated based on the value that is offered.
• After deciding on what to purchase , the customer makes the purchase.
• Post purchase evaluation is done based on the "behavior" of the product. If the product is satisfactory the customer might buy again or/and recommend the same product to his friends and relatives.

Classmate's Customers and their decision making

•  If the customer is buying for the first time, he/she looks at these attributes and also there might be someone who triggers the customer to buy classmate.

• If the same customer is satisfied with the notebook after he bought it, he will again buy without any second thought and there becomes loyal to the brand.

VALUE

Customer Value

Customer value is defined as the difference between the perceived benefits and the resources spent.

Psychological cost can also be called as risk.

There are also other benefits other than the above mentioned ones and they all can be clubbed into a benefit which I call the Psychological benefit.

For classmate:

Corporate Social Responsibility (C.S.R.) of classmate adds to the image benefit and also the psychological benefit. Classmate donates Re1 per every four classmate books sales to a foundation that looks after poor and needy.

Value for consumer, customer and retailer:

Retailer is the shopkeeper, customer is the parent and consumer is the kid. (example)

Classmate- The entry

Notebook Category
 

• An unorganized sector/category.
• Poor quality local notebooks (poor paper quality, binding, cover)
• No brand notebook till 2003 (till classmate entered)                         

Requirement (need)

• Good quality paper binding and nice cover.

 Specific Requirement (want)

• A notebook with an image i.e. brand. 

Demand

• People were ready to pay little extra for their specific requirements.   

Opportunity Identified 

• I.T.C. identified an opportunity in this sector and they sensed that they could well become the market leader in this category.

Product Features

• Very smooth paper which can be recycled and ozone treated environment friendly, elemental chlorine free paper.
• Attractive cover.
• Trivia