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Cognitive Dissonance 18th July 2010
Cognitive Dissonance 18th July 2010
about whether the decision was the right one" (Source: Foundations of Marketing by
Pride and Ferrell, Third Edition, Pg 187) .Typically Cognitive Dissonance occurs during
the last stage of the Consumer Buying Decision Process. The Post Purchase Evaluation
is carried out when the buyer has "second" thoughts about a high value purchase that
may also come with a higher level of post purchase involvement. A buyer may want to
return such a product, especially when the purchased item does not measure up well
against a similar product offered by a different company, or when the purchased
product's features may look obsolete.
The business customers are very crucial to handle since delivery of the product
with the specifications mentioned should be done at the time specified. The
specifications also have to be precise and not above or below the indications given by
the buyer company. The objective of the company should be to make the customer get
the product on time, with the mentioned specifications and also maintain competitive
advantage. This is very important because if the customers are not satisfied with the
services and feel that the pricing is not competitive, they would not hesitate to switch
over to another company which would fulfill their needs. This holds importance in the
case of business customers since the products have to be accessible to them for
utilization, whenever needed. The customers are an integral part of any business. The
company has to recurrently get t suggestions of the customers regarding how they feel
about the company, the services offered and the after sales service. The company
should provide an opportunity to its customers to voice their opinions about the product,
quality of service and the price competitiveness. This could be achieved with the help of
forums like customer service etc. It is not only important for a company to attract new
customers, but the profitability of company depends greatly on the retention of its
customers. Thus when all the above mentioned are taken care of, it would surely reduce
cognitive dissonance of the customers.