Key Factors Influencing Consumer Choices and Behavior
Defining Consumer Behavior
Consumer behavior is the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and wants.
Theoretical Framework of Customer Behavior
The study draws upon disciplines such as:
- Anthropology
- Sociology
- Psychology
Factors Affecting Consumer Behavior
Internal Factors
- Personality
- Lifestyle
- Age
- Lifecycle Stage
Demographics
Five common demographic attributes influencing behavior:
- Age: As people
Decoding Consumer Behavior: Influences and Marketing Strategies
Consumer behavior is crucial for marketing professionals. To understand consumers, consider their everyday experiences. As companies and markets grow, marketing professionals can become detached from consumers. Many marketing decisions are based on market surveys to study buyers and their behavior: who, how, when, where, and why they buy.
Digital Marketing Channels: Social, Paid, Earned & Email
Social Media Marketing Channels
LinkedIn Marketing Strategies
LinkedIn is the world’s largest professional network on the internet. You can use LinkedIn to:
- Find the right job or internship
- Connect and strengthen professional relationships
- Learn the skills you need to succeed in your career
- Organize offline events
- Join groups
- Write articles
- Post photos and videos
You can access LinkedIn from a desktop, the LinkedIn mobile app, the mobile web experience, or the LinkedIn Lite Android mobile app.
A complete LinkedIn
Read MoreDigital Business Transformation: Strategies and Opportunities
Digital Business Transformation
Digital business transformation: Significant changes to organizational processes, structure, and systems implemented to improve organizational performance through increasing the use of digital media and technology platforms. Two key opportunities of digital transformation open to most businesses:
1. Inbound Marketing
The consumer proactively seeks information for their needs, and interactions with brands are attracted through content, search, and social media marketing.
Read MoreNeuromarketing: Body, Brain Measures & Consumer Behavior
Body Measures & Somatic Responses
Facial Expressions
Measure emotional responses to stimuli like ads or products.
When to Measure: Evaluating responses to packaging designs or product features.
Tools Used: Facial Action Coding System (FACS), Facial Electromyography (EMG) sensors.
Example: Tracking audience reactions to a new TV commercial using EMG sensors.
Facial Muscle Movements
Understand emotional responses to ads.
When to Measure: Assessing emotional impact during exposure to advertisements.
Tools
Read MoreSales, Marketing, and Tech Terminology
Key Sales and Marketing Roles
- MDR (Market Development Representative): Follows up on inbound leads and sets up meetings with Account Executives (AEs).
- SDR (Sales Development Representative): Initiates conversations with potential clients through outbound actions.
- AE (Account Executive): Develops Sales Qualified Leads (SQLs) through a series of meetings.
- ONB (Onboarding): Onboards a client and achieves initial use of the product or service.
- CSM (Customer Success Manager): Ensures recurring use of the