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Consumer Behavior and Marketing Strategies Based on Information Search Patterns.ppt

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Consumer Behavior and Marketing Strategies Based on Information Search Patterns.ppt

  1. 1. Consumer Behavior Information Search Patterns as an application of CB on Marketing Strategies Ashraf Mady……
  2. 2. LEARNING OBJECTIVES  Review Consumer Behavior & Decision making process.  Rational Consumer VS Real life Consumer  Definition  Nature of Consumer Behavior  Consumer Behavior and Marketing Strategy  Briefly describe the Information search process  Outline Marketing Strategies Based on Information Search Patterns.
  3. 3. Rational Customer…… Has consistence, stable preferences. Evaluate alternative in an unbiased manner. Know (and choose) the things that will make him happy.
  4. 4. Real Life Consumer….. Individuals are often described as seeking satisfactory (be happy) rather than optimum choices. Consumers rarely have adequate information, motivation or time to make such a ‘perfect’ decision and are often acted upon by less rational influences such as social relationships and values
  5. 5. Real Life Consumer….. Is sensitive to contextual factors some of which occur unconsciously. Uses simplifying heuristics (tools) to evaluate information. Makes suboptimal decisions he may later regret.
  6. 6. Definition “Consumer behavior…… • Is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires.” and the impacts that these processes have on the consumer and society.
  7. 7. Consumer Purchase Behavior Post Purchase Behavior Purchase Evaluation of Alternatives Information Search Awareness ( Need Recognition )
  8. 8. The Nature of Consumer Behavior  External Influences  Internal Influences  Self-Concept & lifestyle  Situations  Experiences and acquisitions
  9. 9. The Nature of Consumer Behavior 1-9 Overall Conceptual Model of Consumer Behavior
  10. 10. Self-Concept and Lifestyle • Self-concept is the totality of an individual’s thoughts and feelings about him- or herself. • Lifestyle is how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them. • Lifestyle is the manifestation of the individual’s self-concept The Nature of Consumer Behavior
  11. 11. External Influences From macro groups to micro groups: • Culture • Subculture • Demographics. • Social status • Reference groups • Family • Marketing activates The Nature of Consumer Behavior
  12. 12. Perception The process by which individuals receive and assign meaning to stimuli. Learning Changes in the contents of long term memory. Memory Total accumulation of prior learning experiences The Nature of Consumer Behavior Internal Influences
  13. 13. Motives The reason for a behavior. Personality An individual characteristic response tendencies across similar situations Emotions Strong relatively uncontrolled feelings that affect our behavior. Attitudes The way a person think, feels, and acts toward some aspects of his or her environment. The Nature of Consumer Behavior Internal Influences
  14. 14. Situations and Consumer Decisions • Consumer decisions result from perceived problems and opportunities. • Consumer problems arise in specific situations and the nature of the situation influences the resulting consumer behavior. The Nature of Consumer Behavior
  15. 15. Marketing Strategy and Consumer Behavior Consumer behavior is the basis for strategy formulation Consumer Reaction to the marketing strategy determine the success or failure
  16. 16. Creating satisfied customers Consum er decision process Superior value expecte d Sales Perceive d value delivere d Customer satisfaction
  17. 17. Marketing Strategies Based on Information Search Patterns Information Search
  18. 18. The Nature of Consumer Behavior 1-22 Overall Conceptual Model of Consumer Behavior
  19. 19. Types of Information Sought 15-23
  20. 20. Nature of Information Search Internal Search • Search of long- term memory to determine if a satisfactory solution is known. External Search • If a resolution is not reached through internal search, then the search process is focused on relevant external information. Consumers continually recognize problems and opportunities, so internal and external searches for information to solve these problems are ongoing processes.
  21. 21. 15-25 Types of Information Sought
  22. 22. Product Classifications Consumer Products 26 Unsought Products  New innovations  Products consumers don’t want to think about these products i.e blood donation, car towing services, burial services, dental work Specialty Products  Special purchase efforts  High price  Unique characteristics  Brand identification  Few purchase locations i.e Lamborghini, Rolex Shopping Products  Buy less frequently  Higher price  Fewer purchase locations  Comparison shop i.e Clothing, cars, appliances Convenience Products  Buy frequently & immediately  Low priced  Mass advertising  Many purchase locations i.e Candy, newspapers
  23. 23. Positioning Marketing Strategies Based on Information Search Patterns Position Target Market Decision-Making Pattern Nominal decision making NO Search Limited decision making Limited Search Extended decision making Extended Search Brand in Evoked set Maintenance Strategy Capture Strategy Preference Strategy Brand not in Evoked set Disrupt Strategy Intercept Strategy Acceptance Strategy
  24. 24. 15-32 If the brand is purchased habitually by the target market, the marketer’s strategy is to maintain that behavior This requires consistent attention to product quality, distribution, and a reinforcement advertising strategy. Maintenance Strategy
  25. 25. Examples  Successful maintenance Strategy: Crest Marlboro Coke
  26. 26. If the brand is not part of the evoked set and the target market engages in nominal decision making, the marketer’s first task is to disrupt the existing decision pattern. Major Tactic; Attention Attracting Advertising Campaign Tools include: •Free samples, coupons, rebates, and tie-in sales. •Striking package designs and point-of-purchase displays. •Comparative advertising. Disrupt Strategy
  27. 27. Disrupt Strategy Example Vedeos ‫اندهش‬ ‫فريسكا‬ ‫اعالن‬ . flv Soy products are a good example of how disrupt strategies have been used to induce trial adoption.
  28. 28. Limited decision making generally involves a few brands evaluated on only a few criteria. Brand is in evoked set. Search occurs mainly at the point-of-purchase or in readily available media. Objective is to capture as large a share as practical. Capture Strategy
  29. 29. 15-38 The marketer will want to supply information, often on price and availability, on their website, in local media through advertising, and at the point-of-purchase through displays and adequate shelf space. Capture Strategy Implementing a capture strategy also requires emphasis on maintaining consistent product quality and adequate distribution
  30. 30. 15-39 If limited decision making and brand is not part of evoked set, objective will be to intercept the consumer during search. Major Tactic; Attention Attracting Advertising Campaign Tools include:  Emphasis will be on local media, point-of-purchase displays, shelf space, package design, etc.  Coupons, low-involvement learning, product improvement and free samples can also be effective. Intercept Strategy
  31. 31. 15-40 Extended decision making with the brand in the evoked set requires a preference strategy.  A simple capture strategy not likely adequate.  Instead, marketer needs to structure an information campaign so brand becomes preferred by target market such as: Extensive advertising to groups that don’t purchase the item but recommend it o others (e.g. Pharmaceuticals medical promotion) Preference Strategy
  32. 32. 15-41 Similar to preference strategy, but complicated by fact that target market is not seeking information about the brand. Beyond preference strategy, marketer must attract consumer attention or motivate brand learning.  Incentives to try product  Long-term advertising to enhance low-involvement learning  Use of the Internet are useful for gaining acceptance. Acceptance Strategy
  33. 33. Chrysler Acceptance Strategy  Product improvement and heavy advertising.  Offering cash to individuals who would test drive Chrysler product prior to purchasing a new car
  34. 34. What is your evaluation?? Vedeos ‫اندهش‬ ‫فريسكا‬ ‫اعالن‬ . flv