Distorted for a variety of reasons
i) Consumers’ perceptions may be distorted for a variety of reasons, including: (a) physical appearances; (b) stereotypes; (c) first impressions; (d) jumping to conclusions; and (e) the halo effect. Explain how three of these factors may work to distort consumers’ perceptions or purchase behaviors.
ii) Consumers also have risk perceptions. (a)List and describe three kinds of risks that consumers may perceive in purchasing a product; then (b) explain three ways in which consumers deal with perceived risk in purchase decisions (answer in general; do not give one example for each of the risks you discussed).
iii) Many brands have been repositioning themselves. This means they have made changes to the brand, with the hope of changing consumer perceptions of the brand. Find an article that describes a recent (no older than a year) repositioning decision taken by a brand. Briefly describe the repositioning decision. Copy and paste the article into your assignment document, and provide the source of the article (reference).
