Consumer Behavior and Marketing Strategies Based on Information Search Patterns.ppt
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This document discusses consumer behavior and information search patterns as they relate to marketing strategies. It defines key concepts in consumer behavior like the difference between rational and real-life consumers. It also outlines the consumer decision-making process and how internal and external influences affect behavior. The document then describes different types of information consumers seek and products. It concludes by explaining different marketing strategies companies can use based on a consumer's information search patterns and whether the brand is in their consideration set, including maintenance, disrupt, capture, preference, and acceptance strategies.
Consumer Behavior and Marketing Strategies Based on Information Search Patterns.ppt
- 1. Consumer Behavior Information Search Patterns as an application of CB on Marketing Strategies Ashraf Mady……
- 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. Rational Customer…… Has consistence, stable preferences. Evaluate alternative in an unbiased manner. Know (and choose) the things that will make him happy.
- 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. 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. 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. Consumer Purchase Behavior Post Purchase Behavior Purchase Evaluation of Alternatives Information Search Awareness ( Need Recognition )
- 8. The Nature of Consumer Behavior External Influences Internal Influences Self-Concept & lifestyle Situations Experiences and acquisitions
- 9. The Nature of Consumer Behavior 1-9 Overall Conceptual Model of Consumer Behavior
- 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. External Influences From macro groups to micro groups: • Culture • Subculture • Demographics. • Social status • Reference groups • Family • Marketing activates The Nature of Consumer Behavior
- 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. 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. 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. 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. Creating satisfied customers Consum er decision process Superior value expecte d Sales Perceive d value delivere d Customer satisfaction
- 17. Marketing Strategies Based on Information Search Patterns Information Search
- 18. The Nature of Consumer Behavior 1-22 Overall Conceptual Model of Consumer Behavior
- 19. Types of Information Sought 15-23
- 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. 15-25 Types of Information Sought
- 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. 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. 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
- 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. 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. 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. 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. 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. 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. 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. 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. What is your evaluation?? Vedeos اندهش فريسكا اعالن . flv