Analyzing the consumer market-Q1
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Transcript of Analyzing the consumer market-Q1
Culture
The fundamental determinant of a person’s wants and behavious aquired through socialization processes with family and other key institutions.
These groups have direct influence. Types - Primary groups – usually with the Person interacts. Secondary groups- Such as religions, trade-union groups, professional etc.
Reference group
Family of orientation--‐Parents influence on buying behaviour
Family of procreation---Person’s family has influence on buying behaviour
Family
Age Personality Values Lifestyle Wealth Occupation Life cycle stage
Personal factors
o Family life cycleo Psychological life cycleo Life events or transitions-marriage, child birth etc.o Marketers should take these personal aspects into consideration in the process of influencing buyers behaviour.
Sincerity Excitement Competence Sophistication Ruggedness
6-10
Brand Personality
Consumers are likely to choose brands whosepersonalities match their own. (Brand personality)
Researched brand personalities and identified traits-
I. SincerityII. ExcitementIII. CompetenceIV. SophisticationV. Ruggedness
Stanford’s Jennifer Aaker
Created by,Divya Agarwal, during an internshipunder Mr, Sameer Mathur, IIM Lucknow.www.IIMinternship.com