Sunday, June 26, 2011

Service Quality vs Loyalty


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Consumer Perception and Buying Behaviour

My comments: For "Effect of consumer perception towards their buying behaviour", it would mean consumer perception is the IV and it is necessary to find out what constitutes the consumer perception ? i.e. What are the variables under Consumer Perception:

A) On the goods itselves
i) Brand name is definitely one (e.g. branded LV is better than unbranded one)
ii) Country of production ( e.g. US made handbag is better than handbag made in 3rd world countries)
iii) Quality of goods ( e.g. If an item is expensive, the perception will be that it is better than cheaper ones ?)
iv) Packaging (e.g. Japanese food items are packed in very nice decoration, the consumer
will perceive that the food item ought to be "atas" and buy without second thought)
v) Price (If an item, its usual price is high but during sales, the price discount is huge,
the consumer will perceive it as value for money and buy more)
or Places (Shopping centres vs kampong stalls ?), Marketing efforts by the seller ?

B) On the consumers themselves
vi) Then how about Race? ( Whether different races have different consumer perception for the same item)
vii) Age ?
viii) Male or Female ?
ix) Ownership of properties ( Rich people and poor people - same behaviour for the same item?
x)Income level
Xi) Education level, which countries they are from and so on ..

Then what is the Dependent variable ?
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In my view, the DV will be the buying behaviour which can mean whether they would buy that product in the first place and/or buy more if the price is really cheap.

Data Analysis
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It is necessary to design a survey form, do the survey to analyse the data with the objective function : Consumer behavior = function of various inputs/factors of consumer perception.

The purpose is to find out which factor or factors are significantly - statistically, using SPSS - to influence the consumer buying behaviour. The result could be one, two, three ?

e.g. Your data analysis from the survey form may show Brand of product is the most important factor that affect the buying behaviour, the price many be second .. and the country of consumers
may be insignificant ?

i.e. Consumer is willing to buy more i.e. influenced by the price of the goods.

Articles to read
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I have found a few interesting articles as below for reference ....

26 Jun 2011
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Stress Test US Banks Jun 26, 2011

My comments: Once the scenario is defined e.g. the unemployment rate for a particular year is made known to the Bank, the bank will need to use their own financial model to project the impact to the repayment of loans and other consequences. Since each bank operates differently and has
different level of financial exposure, there wouldn't be a standard answer to the same scenario. After going through the analysis, the impact report will be submitted to the authority for assessment. The details are shown below. Please also search the Internet for better explanations.

27 Jun 2011
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