Types Of Post Purchase Cost
There are various types of post-purchase costs. Some popular post-purchase costs are refund policy, return and replacement policies, user guide, loyalty programs, product satisfaction feedback, product care tips, etc.
Refund policy – One of the commonly used post-purchase tactics is the refund policy. If the seller reminds the customers of the refund policy for the product or service purchased by him, the post-purchase behavior of the customers gets affected. This policy states that if a customer is not happy about the purchase made, he can get refunded. But this policy must have some time foundations.
Return and replacement policies – The other type of post-purchase cost is to provide the customers with the return and replacement policies. Every end-consumer is attracted by the return and replacement policy provided by the seller’s end. This policy might state that the customers can return or replace the product in case of any problems within a short period of time.
User guide – The third type of post-purchase cost is to provide a user guide to customers. This implies that the guidance must be provided to the final user. It is one of the important aspects of post-purchase tactics as it provides the technical knowledge of handling a product or service. The user guide is that post-purchase cost that must be essentially provided to the customers by the respective seller.
Loyalty programs – According to this, post-purchase strategy, the trust of the loyal customers can be attained by inviting them into the loyalty programs. It explains the benefits of being a part of this loyal program. This can be done if a customer is asked about how he feels about the product he had purchased or does he require any help in the loyalty programs. By doing so, the customers might feel happy and satisfied with the product they had purchased, resulting in the attainment of the loyal customer by the business organization.
Product satisfaction feedback – Product satisfaction feedback is the type of post-purchase cost. This is the process of retaining customers for future purposes. This can be done by taking the customer’s feedback on a particular product and whether they are completely satisfied. A completely satisfied customer is the best marketing asset for the business organization.
Importance Of Post Purchase Cost
Some of the importance of post-purchase costs are enhancing the customer’s satisfaction, enhancing the chances of repurchase from the retained customers, etc.
Enhancing the customer’s satisfaction – The post-purchase cost plays a vital role in enhancing the customer’s satisfaction. The business organization can build up a loyal customer panel by providing the customers with all the satisfactory requirements.
Chances of repurchase – The post-purchase cost increase the chances of repurchase from loyal customers. Suppose a customer of a particular business organization is satisfied. He will purchase those goods and services from that business organization only and ask his friends and family to purchase goods and services from them.
Post Purchase Customers Behavior
The other aspect of post-purchase is how the customer feels about making a particular purchase. Post-purchase behavior is the customer’s behavior regarding what way a customer acts or feels after purchasing some goods or services. Basically, it is a phase in which a customer analyses whether he is satisfied with the purchase. There are three ways in which the customers may react after the purchase is made. These are the satisfaction of the customer, non-satisfaction of the customer, and dissatisfaction of customers.
Satisfaction of customers means that they are happy with the purchase they have made.
Non-satisfaction of customers means that the customer is neither happy about the purchase nor regretting the purchase.
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