Products can be classified as high involvement product or low involvement products.High involvement products are one in which risk is pretty high and variety is also pretty high.There are basically four quadrants in which any product can fall.
1.Low Risk,Low Variety:In this kind of products the user follows a picking behavior which means price is the single most important factor in deciding which product to buy eg..Salt,sugar,
2.Low Risk,High Variety:In this kind of products user is more looking for variety.He wants to try out new things.He can give higher price in case he finds it valuable.For ex..Toothpaste,restaurants,chocolates etc..
3.High risk,high variety:In this kind of products user is very careful about what he should buy and does lot of research on what he should buy before finally buying.This are basically high involvement products such as home,Cars etc.. as wrong decision can bring in lot of trouble to the buyer
4.High risk,low variety:When the risk is high and variety is low buyers generally follows a habitual behavior in which he does not want to change or switch products.This mainly applies for medicines,baby products etc.When the product belongs to this category it is necessary to create the felling of trust among the buyers in order to get repeat business.
In this blog I will discuss what a online platform should do to be successful in selling high involvement products like property ,Cars
1.Expert advice:
When a product is high involvement it requires guidance for the user to identify the right product.The expert guidance can be in form of chat or any tools which helps user/guides user to a right decision.It should be basically a recommendation based on user requirement.
2.Verified/Trust:
The risk involved in buying high involvement product is very high so it should be ensured that what ever product being sold is verified so that it reduces the level of risk for the user to buy
3.Step by step guide:
In buying high involvement product there a long process which user has to follow in order to avoid any kind of problems in future.User should be guided through the process which he should follow to own/buy the product
4. Comparison of different products:
Due to high variety a buyer may get confused on which product to buy.In this case it is important for the buyer to identify which product is better than other based on his requirement so that he can make the right decision
5.Richness of information
Due to high risks people want to be sure that they are buying right product which means that customer wants information in detail in order to make right decision which means that it is important to have as much information as possible in order to help customer in making right decision.The information can be in form of videos,pictures,reviews,text etc..
Check out Part 1-Low Involvement product Here
1.Low Risk,Low Variety:In this kind of products the user follows a picking behavior which means price is the single most important factor in deciding which product to buy eg..Salt,sugar,
2.Low Risk,High Variety:In this kind of products user is more looking for variety.He wants to try out new things.He can give higher price in case he finds it valuable.For ex..Toothpaste,restaurants,chocolates etc..
3.High risk,high variety:In this kind of products user is very careful about what he should buy and does lot of research on what he should buy before finally buying.This are basically high involvement products such as home,Cars etc.. as wrong decision can bring in lot of trouble to the buyer
4.High risk,low variety:When the risk is high and variety is low buyers generally follows a habitual behavior in which he does not want to change or switch products.This mainly applies for medicines,baby products etc.When the product belongs to this category it is necessary to create the felling of trust among the buyers in order to get repeat business.
In this blog I will discuss what a online platform should do to be successful in selling high involvement products like property ,Cars
High Involvement product-How to build online platform
1.Expert advice:
When a product is high involvement it requires guidance for the user to identify the right product.The expert guidance can be in form of chat or any tools which helps user/guides user to a right decision.It should be basically a recommendation based on user requirement.
2.Verified/Trust:
The risk involved in buying high involvement product is very high so it should be ensured that what ever product being sold is verified so that it reduces the level of risk for the user to buy
3.Step by step guide:
In buying high involvement product there a long process which user has to follow in order to avoid any kind of problems in future.User should be guided through the process which he should follow to own/buy the product
4. Comparison of different products:
Due to high variety a buyer may get confused on which product to buy.In this case it is important for the buyer to identify which product is better than other based on his requirement so that he can make the right decision
5.Richness of information
Due to high risks people want to be sure that they are buying right product which means that customer wants information in detail in order to make right decision which means that it is important to have as much information as possible in order to help customer in making right decision.The information can be in form of videos,pictures,reviews,text etc..
Check out Part 1-Low Involvement product Here
No comments:
Post a Comment