B : What is a 2.0 consumer “Consumer 2.0” is a concept which describes the behaviors related to how consumers interact with information in the context of the purchase decision lifecycle. Birckhead (2014) http://davebirckhead.com/ This typology of a consumer is not a niche and in 2014 it was estimated that over 150 million US consumers can be labeled “Consumer 2.0”, this has certainly increased even more throughout 2015. Consumer 2.0 is more likely to access digital information, less trusting of brand-sponsored advertising, more comfortable buying online and less reliant on their own physical experience in making a purchase decision. These 2.0consumers have a lot of trust and take into account the opinions and experiences of their close circles and trusted connections. Taking the existence of the 2.0 consumer into account when creating a digital marketing strategy is a primordial step for brands today and they must facilitate their needs with the possibility of shared experience and interconnectivity amongst consumers while implementing systems to measure their impact on the business. (Bill Hanifin, 2011). …show more content…
Today, in 2015 we, the general public are practically inseparable from our mobile devices, our mobile phones, laptops, tablets and even smart watches. In the past we used to book holidays through a tourist agency, we used to have a paper ticket – nowadays we can research, compare, book and even check-in online for our holidays, and of course we can have our ticket on our mobile phones. Technology has changed a lot and consumers have changed and will continue to change with it. Orr (2013) has proposed several ways in which the online consumer’s behaviour has changed and suggests that brands need to take this into account and adapt their digital strategy to better facilitate this new “2.0 Consumer”. Consumers Shift to More Sophisticated
It is critical that the current marketer not only consider the now, but the history of the population in which they are targeting to be successful in the future market. Additionally, many are considering now how to target what is being considered, “the new consumer on the block” (Saettler, 2014). The key focus is to appeal to this multi-task and multi-versatile consumer who requires more information based on their value saving mindset. Ultimately, Generation Z does not rely on the market for knowledge, but is self-educated about the market and/or consumables it seeks to engage in for a service or
He has worked with numerous of the Fortune Global 500 companies as a brand building expert. He has truly mastered consumers’ deepest desires by exploit hot spots in the human brains to compel them to purchase blindly and willingly. As a result, Martin has successfully help launched new products and brands. Martin created this book during the worst economic crisis since the Great Depression. Martin’s main purpose of this book was not getting us to stop purchasing, as that is nearly impossible. “The purpose is to educate and empower you to make smarter, sounder, more informed decisions about what we’re buying and why” (Lindstorm 8). By exposing marketing companies tricks and tactics, consumers would be equipped to battle the war on impulse purchasing in a time of
Solana, D. (2007): Entrevista en “El nuevo marketing 2.0”, Interactiva Digital no 79, abril de 2007.
Firms today are showing a great interest in finding effective ways to attract and retain customers, simply because e-commerce is moving quickly and the competition has been rapidly increasing throughout the years. As a result, most of the firms are focusing more in the development of their e-marketing methods since it can form a better relationship between the customer and the firm and possibly lead to stronger consumer loyalty. E-marketing is also a main focus as it has become increasingly and internationally popular throughout recent years, since it is a very fast and easy way to portray messages and promote company products and services. It is also an entertaining way for companies to show their individuality and range of offerings in terms of products, services, and communications. Essentially, e-marketing allows for firms to create strong ties with consumers, engaging them, and allowing them easy access from almost anywhere. This project is going to examine Nike’s e-marketing environment through the analysis of Porter’s five forces, to eventually show that firms can face both threats and opportunities in a marketing environment (Kotler et al, 2001). Furthermore, it is going to illustrate how Nike uses sources of social media such as YouTube, Facebook, Twitter and Instagram to entice new customers to its own web-site. It does so by providing motivational videos including famous professional athletes wearing their gear. It also promotes its services by providing photos of products, along with detailed descriptions of their functionality, along with inspiring messages. This report is also going to show the relation of some of the eight different factors called the 8C’s to what Nike’s marketing department has done in order to obt...
Introduction This paper presents a dynamic model on the consumer behaviour in the real world marketing issue. It will further discuss the marketing and industrial experiences encountered daily in everyday business life, in addition to the consumer behavioural issues and consumer analysis and recommendations. Research studies have argued that industries or companies experience lots of issues in awe of the logistics of their daily routine, giving them the knowledge that can be used to anticipate incoming situations with the way of tackling problems. However, with the familiarity and repeated external occurrences in the marketing scope of an industry, there are many implementations carried out in solving such problems without complexity.
From buying a hamburger to buying a house people use a process in order to make a decision on what to buy. (book cite) describes this as the consumer decision process (pg.175). Utilizing a consumer decision process model, marketers are able to better understand how consumers are purchasing products and services. The five step consumer decision process model includes need recognition, information search, alternative evaluation, purchase, and post purchase. Not all purchases require following all five steps to a T, but consumers, whether they know it or not, follow a version of this model when making a purchase. Companies also use this model in order to effectively market their products and services. A company
In the last decade, digital advertising has emerged as the hallmark of marketing P&G brands worldwide. This ensured P&G saved much of its marketing cost from its enormous budgets over the years (Hartley, 2011). Despite P&G’s massive digital play in marketing, numerous questions have arisen about its digital ambitions with speculation it is losing the edge in marketing. Some analysts wondered whether P&G could enjoy similar scale advantage using digital advertising like it did with traditional marketing (Neff, 2012). Subsequently, effectiveness of P&G digital advertising has decreased as P&G has been ranked below or in the middle of the pack of its competitors. Advancement in digital advertising has enabled P&G to reach consumers anywhere very easily (O'Guinn, Allen, Semenik, and Scheinbaum, 2014). However, this has failed to capture/attract the attention of consumers to its brands. Capturing consumers depend mainly on brand building in marketing. That is, cultivating the right message; fresh, creative and insightful about the brand.
Consumer Decision Making Process A key factor in successfully marketing new/existing products or implementing a product Extension is a thorough understanding of the motivation, learning, memory, and decision Processes that influence consumers purchasing behavior. Consumer purchasing behavior theories have found their way into managerial decision making to help companies more effectively develop and launch new products, segment the market, determine market entrance and in brand management. Therefore, a better understanding of how consumers decide what to purchase is critical to the success of a product. There are numerous theories and models describing the consumer purchasing decision process.
2. Today marketers can collect and analyze data about consumer behavior, one person at a time; this is the relationship approach to marketing.
Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach
It 's no secret that traditional marketing practices have declined and consumers are now more skeptical than ever. Brands have had to find ways of connecting with potential customers in a more authentic way.
Consumer Behavior is a study of the processes involved when individuals use, purchase, select, or dispose of products, services, needs, desires and ideas. The consumer is the person that uses the product while the customer is the person that purchases the product; they may or may not be the same person. When we study consumer behavior, it helps us improve business performance, we influence the public and we help consumers make better decisions.
The omnipresence of online social networks in today’s world has reversed the traditional ‘push-pull’ marketing model that fashion retailers were previously accustomed too. Social networks have prominently impacted the fashion industry by creating a two-way interactivity between companies and consumers and enabling brands to reach customers on a global level at a minimal cost (Lee, 2009). Blogs, virtual communities and online social networking sites have empowered ‘regular’ people from all over the world by providing them with a voice that has the potential to impact other millions of consumers’ purchase decisions (Mangold & Faulds, 2009). According to a recent report by the Search Engine Journal, 72% of all Internet users now connect through social media, with 23% of facebook users accessing their page at least five times a day (Jones, 2014). This reflects the prominent place social media has taken in people’s daily lives, hence explaining why 86% of marketers in 2013 indicated placing a very high value on social media for their business (Stelzner, 2013). According to Nielson, a leading global information and measurement company, approximately 46% of online users count on social media when making a purchase decision (Nielson, 2013). As a matter of fact, one-third of shoppers surveyed in a study by the Advertising Research Foundation (ARF) revealed that a brand or product was discovered through social media and that the later influenced their opinions during the buying process (Quinn, 2013) and 72% of consumers trust online recommendations as much as real-world personal recommendations (Olenski, 2012).
Businesses use the media to convince consumers to buy their products. Since the start of mass media, companies have used communication to broadcast to large numbers of people about their product (Shah). Companies spend a great amount of money to encourage people to buy their product, by winning them over (Shah). The media provides information, rates, and suggests new products and services such as movies, computers, restaurants, books, fashion items, and more (Rinallo and Basuroy). Back in the days where brands had to buy advertising or secure media placements are gone. Today it is becoming really hard to know the difference between the role of marketer and publisher. This gives the chance for companies to become satisfied conservators, making their own items on their websites for their businesses (“Media Influence”). More and more people are considering traditional advertisements as untrustworthy; in fact, 75% of people do not think traditional advertisements are true. Companies uses online advertisements to influence people to buy their product. People today are trying to make more informed buying choices, using all the information they can find online. A person’s online experience can influence them to shop at a particular store; in fact, 91% of people shop at stores because of reviews online (Peneycad). People spend a large amount of time researching products before they decide to buy them. 86% of people use search engines to research products. 62% of people who research products online buy products in the store. People who research services and products online are more likely to make a buying decision (Peneycad). 78% of people are influenced by post from companies on social media websites. 72% of people are trusting of online recommendations of products. Peneycad mentions,“This means 72% of people trust complete strangers just as [much] as people they know when it comes to making a purchase decision (Peneycad 2).
We can’t assume consumers will remain loyal if we don’t adapt and learn and you can’t assume brand strength alone will keep them or attract new consumers. The market will change and new will enter the market. I realized that the 5 D’s (Discovering, Defining, Developing, Doing, and Directing) in the marketing process is a continuous, an ongoing evaluation of the market conditions and the continued adaption. For Digital Channels, that means we must have the best feature rich products and service that our customers value. We can’t assume they will stay with us because they have for years. The moment a company becomes complacent, they become