What Marketing Factors Have the Most Impact on Consumers
- What factors do you believe have the most impact on a consumer 's buying decision? Why?
- Which companies do you think are the best at using Marketing techniques to influence consumer buying behavior? How do they do this?
- Which companies poorly use Marketing techniques to influence consumer buying behavior? Why
Consumers are motivated by needs and wants. Does the consumer want it? Is it the latest and greatest? Is it a new color? A new model? Is the old one just a bit rusty, or squeak just a little? Is the consumer trying to “keep up with the Jones”? Does the consumer need it? Does it improve their physical well being? Is it a necessity of work, school, or life in general?
A successful marketer can take the product, appeal to a consumer’s wants and needs so that the purchase of even a “luxury” product is justified, based off of economic buyer theory, if it appeals to even one of the economic needs of: economy of purchase or use, convenience, efficiency in operation or use, dependability in use, improvement of earnings.
A successful marketing campaign puts the customer first, common mistake in marketing is talking about a wonderful and great a the company is. Victoria Ring’s Bankruptcy Blog phrased this concept well as “How would you feel if the waitress walked up to our table and instead of asking us what we wanted to order, she told us about her background, how long she had been a waitress, how many classes she had taken and how much she loved being a waitress?” Avis demonstrated this concept of putting the customer first in their 1962 advertising campaign. Their advertisement of “we try harder, because we have to” took them from $3.2 million in the red to $1.2 million in the black in a year.
Marketing segmentation and demographics are all useful in avoiding major marketing mistakes. Sometimes something as simple as Sweden’s vacuum advertisement “Nothing sucks like Electrolux”, many things can be lost in translation and be the end of
- Which companies do you think are the best at using Marketing techniques to influence consumer buying behavior? How do they do this?
- Which companies poorly use Marketing techniques to influence consumer buying behavior? Why
Consumers are motivated by needs and wants. Does the consumer want it? Is it the latest and greatest? Is it a new color? A new model? Is the old one just a bit rusty, or squeak just a little? Is the consumer trying to “keep up with the Jones”? Does the consumer need it? Does it improve their physical well being? Is it a necessity of work, school, or life in general?
A successful marketer can take the product, appeal to a consumer’s wants and needs so that the purchase of even a “luxury” product is justified, based off of economic buyer theory, if it appeals to even one of the economic needs of: economy of purchase or use, convenience, efficiency in operation or use, dependability in use, improvement of earnings.
A successful marketing campaign puts the customer first, common mistake in marketing is talking about a wonderful and great a the company is. Victoria Ring’s Bankruptcy Blog phrased this concept well as “How would you feel if the waitress walked up to our table and instead of asking us what we wanted to order, she told us about her background, how long she had been a waitress, how many classes she had taken and how much she loved being a waitress?” Avis demonstrated this concept of putting the customer first in their 1962 advertising campaign. Their advertisement of “we try harder, because we have to” took them from $3.2 million in the red to $1.2 million in the black in a year.
Marketing segmentation and demographics are all useful in avoiding major marketing mistakes. Sometimes something as simple as Sweden’s vacuum advertisement “Nothing sucks like Electrolux”, many things can be lost in translation and be the end of
References: Drew, D. (2009) The 10 Most Successful Ad Campaigns of All Time and How They Came to Be. Retrieved from: http://www.ddrewdesign.com/blog/index.php?cmd=article&id=136 Perreault-Cannon-McCarthy (2008). Essentials of Marketing Final Consumers and Their Buying Behavior, 11th edition. Business Development Bus 5601 I (660 - 684). Columbus, OH: McGraw-Hill Companies Ring, Victoria. (n.d.) Example of Good and Bad Marketing for Small Business. Chapter 7 and 13 Bankruptcy Blog. Retrieved from: http://chapter7and13bankruptcyblog.com/archives/917