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Class Project

Class Project

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Class Project

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  1. Class Project • Pair up with someone. Next, identify two purchase situations, one high-involvement (e.g., new running shoes, clothes, cars) and one low-involvement (e.g., fast food, ink pens, soft drinks), which the person has some experience with. • Elicit the decision criteria that person would use (or used) in buying a brand in the particular product categories you identified earlier. • Begin the interview by stating... "Assume that you are in the market for _________. What factors do you consider when you are deciding what brand of _______ to buy for yourself?” • Then ask... "What two factors are most important to you in making your decision?“ • Then, for each of these two factors, "Why is ________ important to you?" Or, "What does ________ give you?" • Continue this process for each factor until your partner cannot go on. • Swap roles and repeat the process.

  2. Motivation and Personality • Motivation: • Personality:

  3. Motivation and Personality • Basic Issue: Why do consumers behave the way they do? What are consumers trying to accomplish through the purchasing process? • Why does a person pay for water when it is free? Once they decide to pay for it, why pay a premium for Perrier or Evian? • Why do some people pay $5000 or more for a watch when a $19 Timex works just fine? • Must understand Goals to understand behaviors.

  4. Goals • Consumer have many different sorts of goals • Consumers goals are not always obvious • Different groups (cultures, segments) may have: • Goals have both direction and intensity

  5. Latent and Manifest Motives

  6. Needs-based View of Motivation: Maslow’s Hierarchy 5.Self-actualization: This involves the desire for self- fulfillment, to become all that one is capable of becoming. 4.Esteem: Desires for status, superiority, self-respect, and prestige are examples of esteem needs. These needs relate to the individual’s feelings of usefulness and accomplishment. 3.Belongingness: Belongingness motives are reflected in a desire for love, friendship, affiliation, and group acceptance. 2.Safety: Feeling physical safety and security, stability, familiar surroundings, and so forth are manifestations of safety needs. They are aroused after physiological motives are minimally satisfied, and before other motives. 1.Physiological: Food, water, sleep, and to a limited extent, sex, are physiological motives. Unless they are minimally satisfied, other motives are not activated. Advanced Basic

  7. Marketing Strategies and Maslow’s Hierarchy

  8. Common Motives and Associated Marketing Behaviors • Need for Consistency (use information from credible sources) • Need to Categorize (price lining, odd-pricing) • Need for Autonomy (custom products, “limited editions”, DIY) • Need for Stimulation (impulse purchases, new and improved) • Need for Tension Reduction (show recreation, leisure time) • Need for Expression (symbolic products, self-concept) • Need for Ego Defense and reinforcement (conspicuous consumption) • Need for Assertion (power, accomplishment, esteem) • Need for Affiliation (altruism, social consciousness, groups)

  9. Developing Strategies Around Consumer Motives • Identify product and purchasing situation • Select most relevant product features and benefits that are consistent with goals.

  10. Personality • All individuals have internal characteristics or traits • Consumer personality will many times impact motives

  11. Brand Personalities • Brands have a set of human characteristics that become associated with that brand. This is an acquired image of the brand. • There are five core dimensions of brand personality, each divided into a set of facets: • Sincerity • Excitement • Competence • Sophistication • Ruggedness

  12. Each facet is measured by a set of traits. The trait measures are taken using a five-point scale (1= not at all descriptive, 5=extremely descriptive) rating the extent to which each trait describes the specific brand of interest. The traits used for each of the facets are: • Down-to-earth (down-to-earth, family-oriented, small-town) • Honest (honest, sincere, real) • Wholesome (wholesome, original) • Cheerful (cheerful, sentimental, friendly) • Daring (daring, trendy, exciting) • Spirited (spirited, cool, young) • Imaginative (imaginative, unique) • Up-to-date (up-to-date, independent, contemporary) • Reliable (reliable, hard working, secure) • Intelligent (intelligent, technical, corporate) • Successful (successful, leader, confident) • Upper class (upper class, glamorous, good looking) • Charming (charming, feminine, smooth) • Outdoorsy (outdoorsy, masculine, Western) • Tough (tough, rugged)

  13. Describe the personality of the following: • Red Bull • Scion • Blockbuster Video • Wal-Mart • Toyota • Tab • Aquafina • Seiko • Texas Instruments • Chico’s