Post Purchase Dissonance | Consumer Behavior | How to reduce post consumption guilt & anxiety?

Summary

This video discusses post-purchase consumer behavior, focusing on post-purchase dissonance, which arises after significant purchases, like cars or electronics. It highlights how this dissonance can lead to guilt and anxiety, affecting brand loyalty. Using a relatable example, the speaker illustrates how consumers can alleviate these feelings by seeking supportive opinions. Additionally, marketers can help reduce dissonance through strategies such as enhancing their brand's desirability or offering return options. The video emphasizes understanding both consumer psychology and marketing tactics to improve customer satisfaction and retention.

Takeaways

• 😀 Post-purchase behavior is crucial for marketers, influencing customer loyalty and retention.
• 🤔 Post-purchase dissonance refers to the anxiety and doubt consumers experience after making significant purchases.
• 💔 Consumption guilt can arise from the emotional burden of buying expensive items, negatively affecting brand loyalty.
• 🚗 A relatable example of dissonance is a friend who felt anxious about his Maruti Desire purchase after noticing many Honda Amaze cars.
• 👥 Consumers can mitigate dissonance by seeking positive reinforcement from friends and family who support their purchasing decision.
• 💭 Downplaying the importance of conflicting beliefs can help consumers feel better about their choices.
• 🐾 The fable of the fox and the sour grapes illustrates how people rationalize their decisions to cope with dissonance.
• 📈 Marketers can reduce consumer dissonance by increasing the desirability of their brand through positive testimonials.
• 📉 Highlighting the drawbacks of competing brands can help consumers feel more secure in their purchase.
• 🔄 Introducing flexible return policies or customization options can reverse dissonance, allowing consumers to feel more confident in their decisions.

Q & A

What is post-purchase consumption behavior?

Post-purchase consumption behavior refers to the actions and evaluations that customers undertake after purchasing a product, including their satisfaction or dissatisfaction with the product.

What can result from post-purchase satisfaction or dissatisfaction?

Post-purchase satisfaction can lead to long-term customer loyalty, repeated purchases, and increased usage, while dissatisfaction can result in customers switching brands or discontinuing product usage.

What is post-purchase dissonance?

Post-purchase dissonance is the feeling of doubt and anxiety that customers experience after purchasing a high-involvement product, such as a car or furniture, particularly when they have a high level of commitment to their purchase.

How can dissonance lead to consumption guilt?

Dissonance can lead to consumption guilt, which is a negative feeling that arises from the anxiety associated with having made a significant and possibly questionable purchase.

What example illustrates post-purchase dissonance in the transcript?

The example of a friend who purchased a Maruti Dzire illustrates post-purchase dissonance, as he experienced anxiety after seeing many Honda Amaze cars, leading him to question his purchase decision.

How can consumers reduce their post-purchase dissonance?

Consumers can reduce dissonance by focusing on supportive opinions from others, downplaying the importance of conflicting beliefs, or convincing themselves that the alternative options are not as desirable.

What strategy did a formalwear company use to address customers' consumption guilt?

The formalwear company kept toys like Barbie dolls and sports cars at the billing counters to encourage customers who felt guilty about their expensive purchases to buy something for their children, thus alleviating their guilt.

How can marketers help reduce post-purchase dissonance?

Marketers can reduce dissonance by increasing the desirability of their brand through positive user testimonials, decreasing the desirability of competing brands, and allowing customers options like return-before-use features.

What is an example of a return-before-use feature mentioned in the transcript?

An example of a return-before-use feature is allowing car buyers to change the color of their car between the order placement and delivery, providing them an opportunity to feel more secure about their purchase.

Why is it important for companies to manage post-purchase dissonance?

It is important for companies to manage post-purchase dissonance to retain customers, build long-term relationships, and minimize the risk of losing customers due to dissatisfaction or regret about their purchases.