Information Asymmetry: Catalyzing Paint Customer Dependence on Influencers for Purchase Decision

Cris Abraham Kochukalam, Jeffin Joseph

Abstract


Purchase of certain categories of products or services requires somewhat specialized knowledge about the category for making better informed decisions, the lack of which makes consumers susceptible to be influenced by influencers. Decorative paints are falling into such category and the consumers are vulnerable to the influences of dealers, painters and other influencing agents once the need for painting is identified to the time of making the final choice. This is basically because of the high level of information asymmetry where the belief of the consumer related to the credibility weight age of the information from each influencer is determined. Some categories of influencers, by way of their profession, have a personal interest in the buying behavior exhibited by the consumers. They actively exercise their influence through brand recommendations and, in most cases, ensure that their recommendations are adhered to. Apart from this the paint consumers are prone to be influenced by recommendation at avarieng quantum of information from different sources based on the credibitlity attached to the information source . this is based on the further belief that information with a particular source is accurate and complete than the other. This paper identifies and generalizes this conceptual framework of information asymmetry and how it leads to the dependency of paint consumer son the influencers.

Keywords: Information asymmetry, decorative paints, purchase decision, influencers

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