INNOVATIONS, INFORMATION AND COGNITIVE DISSONANCE

Sky is only the limit of human needs and expectations. This is the nature of human being after satisfying one need another need get arise and they seek to accomplish it. Human beings attempt different alternatives to fulfill the desired needs until they become satisfied from one of the alternative. Similarly, manufacturers are putting their effort to satisfy their target customers need by offering various promotional offers and extra benefits to attract and make them loyal customer. They are also undertaking various inventions and innovations to fulfill every customers need. R&D Department is working hard on new product development and extra product features than competitor products. Marketers are developing various marketing strategy to make their product in superior position on customers mind.

To upsurge market share and cope with intense competition, the technological products marketers have made tendency of spreading information regarding existing and upcoming imminent product features in very advance to the customers. Such propensities have led new and existing shoppers to delay their purchase decision to have desired fully featured product. Moderate consumers have become modern consumers. Modern consumers are well educated, experienced, and informed about new upcoming technological products. Consumers are loaded with varieties of products, different brands, and different form of shopping outlets. Because of advance and excessive information, and reckless invention in mobile cell phone, shoppers are confronting high degree of pre and post-purchase cognitive dissonance. In the case of pre-purchase, consumers try to collect maximum information to reduce dissonance and after purchase most of them try to seek relief from this instability in their thoughts. It has become difficult for the consumers to choose the best suitable mobile phone within estimated budget. The development of internet has not only subverted the conventional business model but has changed the customers searching method of relevant product information. Some online sellers have products and their prices comparison facility on their trading page. This tool plays an important role in buyer behaviour to reduce shoppers’ cognitive dissonance.

One can experience cognitive dissonance, which is very common in purchasing high-end technological product like mobile cell phones because of continuous variations like product features, price, quality, promotional schemes, and new brands. Cognitive dissonance is one of the major problems for marketers and consumers as sometimes it leads to postpone or delay consumers purchase decision. In an era of fast paced technological development and product innovation. Technology based products get obsolete in a short span of time. This phenomenon of constant change poses both opportunities and challenges to the marketers. The rate of change affects all the Ps of marketing that may be opportunity for marketers on one hand and creates certain challenges on other hand. Marketers can provide sufficient information related to product eliminating misleading information. Clear cut information will not only reduce the buyers’ cognitive dissonance but also they will be more satisfied after purchase. This will also help buyers to become loyal customer. They will also spread positive word of mouth regarding products and brand. Product differentiation in a proper way may also reduce consumers’ anxiety and they can be attracted too.

 

[Dhruv Bindhani]

Sky is only the limit of human needs and expectations. This is the nature of human being after satisfying one need another need get arise and they seek to accomplish it. Human beings attempt different alternatives to fulfill the desired needs until they become satisfied from one of the alternative. Similarly, manufacturers are putting their effort to satisfy their target customers need by offering various promotional offers and extra benefits to attract and make them loyal customer. They are also undertaking various inventions and innovations to fulfill every customers need. R&D Department is working hard on new product development and extra product features than competitor products. Marketers are developing various marketing strategy to make their product in superior position on customers mind.

To upsurge market share and cope with intense competition, the technological products marketers have made tendency of spreading information regarding existing and upcoming imminent product features in very advance to the customers. Such propensities have led new and existing shoppers to delay their purchase decision to have desired fully featured product. Moderate consumers have become modern consumers. Modern consumers are well educated, experienced, and informed about new upcoming technological products. Consumers are loaded with varieties of products, different brands, and different form of shopping outlets. Because of advance and excessive information, and reckless invention in mobile cell phone, shoppers are confronting high degree of pre and post-purchase cognitive dissonance. In the case of pre-purchase, consumers try to collect maximum information to reduce dissonance and after purchase most of them try to seek relief from this instability in their thoughts. It has become difficult for the consumers to choose the best suitable mobile phone within estimated budget. The development of internet has not only subverted the conventional business model but has changed the customers searching method of relevant product information. Some online sellers have products and their prices comparison facility on their trading page. This tool plays an important role in buyer behaviour to reduce shoppers’ cognitive dissonance.

One can experience cognitive dissonance, which is very common in purchasing high-end technological product like mobile cell phones because of continuous variations like product features, price, quality, promotional schemes, and new brands. Cognitive dissonance is one of the major problems for marketers and consumers as sometimes it leads to postpone or delay consumers purchase decision. In an era of fast paced technological development and product innovation. Technology based products get obsolete in a short span of time. This phenomenon of constant change poses both opportunities and challenges to the marketers. The rate of change affects all the Ps of marketing that may be opportunity for marketers on one hand and creates certain challenges on other hand. Marketers can provide sufficient information related to product eliminating misleading information. Clear cut information will not only reduce the buyers’ cognitive dissonance but also they will be more satisfied after purchase. This will also help buyers to become loyal customer. They will also spread positive word of mouth regarding products and brand. Product differentiation in a proper way may also reduce consumers’ anxiety and they can be attracted too.

This article, published on August 19, 2015, discusses consumer behavior, specifically focusing on the challenges faced by consumers and marketers in the rapidly evolving technological product market, particularly mobile phones. The central theme revolves around cognitive dissonance in purchasing decisions due to constant innovation and information overload.

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Navigating the Modern Consumer Landscape: Cognitive Dissonance in Tech Purchases​

The article begins by stating that human needs and expectations are limitless, leading manufacturers to constantly innovate and offer promotions to attract and retain customers. Research & Development (R&D) departments are continuously working on new product development and features, while marketers devise strategies to position their products as superior.

The Challenge of Information Overload and Rapid Innovation:

• Delay in Purchase Decisions: In the intensely competitive technological product market, marketers often spread information about existing and "imminent" upcoming product features far in advance. This tendency, while meant to boost market share, inadvertently causes new and existing consumers to delay their purchase decisions, waiting for the "desired fully featured product."
• Modern Consumers: Consumers have become "well educated, experienced, and informed" due to the abundance of products, brands, and shopping outlets. This "advance and excessive information" and "reckless invention" in mobile cell phones lead to significant pre- and post-purchase cognitive dissonance.

Understanding Cognitive Dissonance in Tech Purchases:

• Definition: Cognitive dissonance, a common phenomenon in high-end technological product purchases, arises from continuous variations in product features, price, quality, promotional schemes, and new brands.
• Pre-Purchase Dissonance: Consumers experience this when trying to make a choice, leading them to collect maximum information to reduce uncertainty.
• Post-Purchase Dissonance: After purchase, many consumers seek relief from the instability in their thoughts, perhaps questioning if they made the "best" choice or if a newer, better product will immediately render their purchase obsolete.
• Impact on Consumers: It becomes difficult for consumers to select the most suitable mobile phone within their budget.
• Impact on Marketers: Cognitive dissonance is a major problem as it can lead to consumers postponing or delaying their purchase decisions, hindering sales.

Internet's Role:

• The development of the internet has not only disrupted traditional business models but also fundamentally changed how customers search for product information.
• Online sellers offering product and price comparison facilities play a crucial role in reducing shoppers' cognitive dissonance by providing transparency and aiding informed decision-making.

Addressing Cognitive Dissonance:

The article suggests strategies for marketers in this fast-paced, technologically driven environment where products quickly become obsolete:

1. Provide Sufficient and Clear Information: Marketers should provide comprehensive and unambiguous information about their products, eliminating misleading claims. Clear information is key to reducing buyers' cognitive dissonance and increasing post-purchase satisfaction.
2. Foster Loyalty and Positive Word-of-Mouth: Satisfied customers, resulting from reduced dissonance, are more likely to become loyal and spread positive word-of-mouth about the product and brand.
3. Effective Product Differentiation: Properly differentiating products can reduce consumer anxiety and attract them, helping them see clear value in a specific offering despite the overwhelming choices.

The author, Bijay Kushwaha from Kanpur, Uttar Pradesh, emphasizes that the rapid rate of technological change presents both opportunities and challenges for marketers, affecting all "Ps" of marketing. The core message is that by strategically managing information and differentiation, marketers can mitigate cognitive dissonance and build stronger customer relationships in the volatile tech market.