'profit is made from people, not products'
Maslow's hiearchy of needs around in the 1930's. Until one level is satisfied you cant move up. Movtivational forces
Consumer buying behaviour
Rational - price, fit
Emotional - desire for status, social acceptance
Reference Groups
Primary (friendship group)
Secondary (people you see once or twice a week)
Aspirational (groups you would like to belong to)
Dissociative (groups whos values you reject)
Consumer profile (now more interested in lifestyle)
Focus on target market the more you understand your customer the better.
- UK socioeconomic classification scheme (to do with class)
captaincrikey.com Sean Pillot de Chenecey 'understanding the new customer'
Companies need to focus in on the satistics of the public - divorce rates will increase 48-52% within the next 3 years.
95% of brand behaviour is habit...and habit is truth
I need to think of different ways of communicating my products to my audience.
People are now living longer and many companies arent seeing the new market that could open up.
too much choice = less consumption
Dress up Fred - is a lifestyle/way of life so anyone can be involved
Brand experience - getting your consumer interactive, make them feel involved. This is like alot of my work. 'Dress up Fred' got people to dress up and we had people of all different ages. And my 'Cut out Wardrobe' got everyone involved from kids to the eldery.
The 4 ages of shopping - envision retail 'consumer insight' They survey customer types. 3,000 customer observations.
Time killers - no intention of buying
Conversion is whats brought in store
General browers
Product groupies - they know they want something but can be persuaded
4 life stages of shopping
28% explores (groups and young people)
21% commitments (frequent visitors and creative)
22% freedom fighters (2 decades, price, family)
29% back to the future (grey pound, got time, social very loyal to brands)
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