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Consumer Psychology

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Understanding Consumer Behavior and the factors affecting its decision-making.

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Consumer Psychology

  1. 1. Greg Emmanuel L. Villahermosa
  2. 2. Consumer Psychology Is a specialty area that studies how our thoughts, beliefs, feelings and perceptions influence how people buy and relate to goods and services.
  3. 3. "the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society".
  4. 4. A CONSUMER is a person or group of people, such as a household, who are the final users of products or services. The consumer's use is final in the sense that the product is usually not improved by the use.
  5. 5. How consumers choose businesses, products and services The numbers are rising on businesses using Social Media to their advantage and rightfully so, since 97% of customers will purchase from your business based on a review they find on the product they are looking for, even more so the review is through people they trust, hence why social networks work.
  6. 6. Factors Influencing Buying Decisions Culture and societal environment an individual will be influenced by his family, his friends, his cultural environment or society that will “teach” him values, preferences as well as common behaviors to their own culture.
  7. 7. McDonald’s for example The importance to have an offer with specific products to meet the needs and tastes of consumers from different cultures, the fast-food giant has for example: a McBaguette in France (with french baguette and Dijon mustard), a Chicken Maharaja Mac and a Masala Grill Chicken in India (with Indian spices) as well as a Mega Teriyaki Burger (with teriyaki sauce) or Gurakoro (with macaroni gratin and croquettes) in Japan.
  8. 8. Social classes People from different social classes tend to have different desires and consumption patterns. Disparities resulting from the difference in their purchasing power, but not only that. According to some researchers, behavior and buying habits would also be a way of identification and belonging to its social class. Acculturation is a process in which members of one cultural group adopt the beliefs and behaviors of another group. Acculturation is usually in the direction of a minority group adopting habits and language patterns of the dominant group.
  9. 9. Cultural trends Cultural trends or “Bandwagon effect” are defined as trends widely followed by people and which are amplified by their mere popularity and by conformity or compliance with social pressure. The more people follow a trend, the more others will want to follow it.
  10. 10. Family The family is maybe the most influencing factor for an individual. It forms an environment of socialization in which an individual will evolve, shape his personality, acquire values. But also develop attitudes and opinions on various subjects such as politics, society, social relations or himself and his desires.
  11. 11. Personality and self-concept Because consumers do not just buy products based on their needs or for their intrinsic features but they are also looking for products that are consistent and reinforce the image they have of themselves or they would like to have.
  12. 12. Motivation Motivation is what will drive consumers to develop a purchasing behavior. according to research, the type of product they sell and the consumers they target, pick out the motivation and the need to which their product respond in order to make them appear as the solution to the consumers’ need.
  13. 13. Throwback Video Courtesy: Kapuso Mo, Jessica Soho
  14. 14. Breakthrough in the world Advertising David Mackenzie Ogilvy, CBE, 23 June 1911 – 21 July 1999 was an advertising executive. He is widely hailed as "The Father of Advertising." In 1962, Time called him "the most sought-after wizard in today's advertising industry.“ His education was in Oxford University After a year, he returned to Scotland and started selling AGA cooking stoves, door-to-door. His success at this marked him out to his employer, who asked him to write an instruction manual, The Theory and Practice of Selling the AGA Cooker, for the other salesmen. Thirty years later, Fortune magazine editors called it the finest sales instruction manual ever written.
  15. 15. His best-selling book Confessions of an Advertising Man is one of the most popular and famous books on advertising. Ogilvy’s advertising philosophy followed these four basic principles: Creative brilliance: had a strong emphasis on the "BIG IDEA." Research: coming, as he did, from a background in research, he never underestimated its importance in advertising. In fact, in 1952, when he opened his own agency, he billed himself as research director. Actual results for clients: "In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create.“ Professional discipline: "I prefer the discipline of knowledge to the anarchy of ignorance." He codified knowledge into slide and film presentations he called Magic Lanterns. He also instituted several training programs for young advertising professionals.
  16. 16. Smoking Kid - Best of #OgilvyCannes 2012 / #CannesLions
  17. 17. Slice-of-Life Depicts people in normal settings, such as at the dinner table or in their car. McDonald's often uses slice-of-life styles showing youngsters munching french fries and Happy Meals on family outings.
  18. 18. LIFESTYLE Shows how well the product will fit in with the consumer's lifestyle. As their Volkswagen Jetta moves through the streets of the French Quarter, the Gen X drivers plug in a techno music CD and marvel at how the rhythms of the world mimic the ambient vibe inside their vehicle.
  19. 19. Testimonial Testimonial or endorsing a product. Sarah Michelle Gellar, star of Buffy the Vampire Slayer, endorses Maybelline cosmetics while country singer Shania Twain introduced Revlon's Color Stay Liquid Lip. Dell Computers founder Michael Dell touts his vision of the customer experience via Dell in television ads.
  20. 20. FANTASYCreates a fantasy for the viewer built around use of the product. Carmakers often use this style to let viewers fantasize about how they would feel to be speeding around tight corners or down long country roads in their cars.
  21. 21. DEMONSTRATION Shows consumers the expected benefit. Many consumer products use this technique. Laundry detergent spots are famous for demonstrating how their product will clean clothes whiter and brighter.
  22. 22. MUSICAL Conveys the message of the advertisement through song. For example, Nike's recent ads depicting a marathoner's tortured feet, skier Pikabo Street's surgery scarred knee, and a surfer's thigh scarred by a shark attack while strains of Joe Cocker's "You Are So Beautiful" are heard in the background. SCIENTIFIC Uses research or scientific evidence to give brand superiority over competitors. Pain relievers like Advil, Bayer, and Excedrin use scientific evidence in their ads.
  23. 23. Thank You for Listening!