Insight Into Consumer Decision Making

LP 1.2 Insight Into Consumer Decision Making

National American University – Online

Four different 3-D-TVs from Panasonic, LG, Sony, and Samsung were compared by CNET on attributes such as technology, price, least crosstalk, clear color, clear deep black, 3-D from angle, Flicker, and 3-D glasses (Iacobucci, 2013, p.24-25). Generally, most consumers would make decisions on large purchases such as TVs based on the price of the product; however, other factors may be included in the decision-making process, and not purely based on price.

A consumer would most likely buy the Sony XBR-HX909 based on a few factors such as the technology, price, and how comfortable the 3-D glasses are.The attributes that are least informative in the table (ordered from least-informative to most informative) as a customer are:

Amongst the four brands, LG, Panasonic, Samsung, and Sony listed on the table, the less riskiest to buy is the LG PX950 based on its price, rechargeable batteries in 3-D glasses, the least amount of crosstalk, and higher rankings in clear color and clear, deep blacks attributes. The four brands are listed below in the order of most risky to least risky:

• 3-D from angle: all four TVs scored relatively the same in this category, so does not provide more input in a consumer’s decision-making, and also, customers are less likely to view TV from an angle.
• Flicker: all four TVs scored relatively the same with flickers. It appears that all four TVs have relatively the same amount of flicker.
• Clear, Deep Black: It appears that plasma TVs have better deep blacks than the LCD TVs but within the Plasma and LCD categories, the score was relatively the same. Although having a TV have deep black colors is important in order to better display vibrant colors, the requirement is not so high on a consumer’s list.
• Clear Color: It appears that the Plasma TVs show clear colors better than the LCD TVs, and therefore, this attribute can be eliminated, as within each technology type, the score was relatively the same.
• Model: The model number can be eliminated as consumers are less likely to purchase by a model number than the other attributes.
• 3-D Glasses: the comfort of 3-D glasses is important to customers, as they will be wearing the glasses for long periods of time. Comfortable 3-D glasses then become important for customers.
• Price: The customers look at the price as possibly the most important attribute in the decision-making process, and that becomes rather important.
• Technology: It is important for customers to review the technology used in making the TV. Plasma technology is older, and may be obsolete, as opposed to LCD TV technology, which is newer.

Based only on price, a customer will most likely purchase the LG PX950 plasma TV, as it is the cheapest of the four compared, reduces battery costs for 3-D glasses, and ranks high in the other remaining attributes as well. As a customer, I would not be happy with my purchase purely based on price, as I would not be happy with the technology I bought and the 3-D glasses required to view 3-D images. Plasma screens are known to be subject to burn-in, which is when a shadow of an image is retained if left far too long on the screen (LED vs. Plasma vs. LCD TV, 2013, para. 7).

• Samsung: High price point but poor rankings in Crosstalk, color, deep blacks, and 3-D from angle.
• Panasonic: High price point for Plasma technology, 3-D glasses are ugly and uncomfortable to wear, which means consumers are less likely to use the 3-D glasses and therefore the 3-D technology.
• Sony: High price point, but lower compared to Samsung, ranked poorly in Flicker and 3-D from angle attributes, not too great color and deep blacks.
• LG: less riskiest due to price, 3-D glasses are rechargeable (reduces costs of buying batteries), Least crosstalk, great color and deep blacks.

Considering all the information collected on the four 3-D televisions, I would select the Sony XBR-HX909 because of the LCD technology, its price point being the lowest in the LCD technology televisions, and how it ranked in the other attributes. This type of analysis makes for a smart consumer. This is because the consumer has reviewed the technology pros and cons of Plasma and LCD and considered which is the most beneficial to them, considered the price and brand names, and considered the other attributes such as comfort of the 3-D glasses, and picture quality.

References:

Iacobucci, D. (2013). Marketing Management (MM4). Mason, OH: South-Western

LED vs. Plasma, (2013). In Practical-Home-Theater-Guide.com. Retrieved from http://www.practical-home-theater-guide.com/plasma-vs-lcd-2.html