Keywords: cognitive dissonance, canonical discriminant function, multidimensional scaling, retailing, retail industry, sub-urban markets, buyers, regret, self-doubt, long-term sustainability, retailers, clustering procedures, clusters, customer dissonance, demographic groups, demography, brand stimuli, operationalisation, consumer preferences, strategic orientation, SSI products, marketing mix, product configuration, national brands, discounting, discounts, frequent users, promotions, brand usage, local personalities, complaints, small scale industry, India, shopping, shops, shoppers, complaint handling, innovation, sustainable development
Retail perspective in sub-urban markets: an empirical validation of consumer cognitive dissonance
Buyers typically experiences cognitive dissonance synonym to 'buyer's regret' or 'self-doubt', reduction of which is vital for long-term sustainability of retailers. The paper through the usage of canonical discriminant function, K-means clustering procedure and multidimensional scaling technique, measures the nature and extent of customer dissonance across demographic groups, clusters and 14 brand stimuli for operationalisation of existing pattern of preferences and accordingly redesigning the existing bundle of brand stimuli for strategic orientation of retailers selling SSI products. At retail level, marketing mix needs to be restructured with emphasis on updating product configuration comparative to national brands, passing discounts to frequent users, promoting brand usage local personalities and responding to consumer complaints promptly and efficiently.