This video explains the reasons consumers strive to purchase and the different needs a product can satisfy.
- We know that marketing is all about satisfying needs.…But in order to do that,…we have to understand why people buy what they do.…To understand how motivation works,…we need to distinguish between a need and a want.…A need is a basic goal such as keeping yourself nourished…or protected from the elements.…In contrast, a want is a specific pathway…to achieving this objective that depends a lot…on our unique personalities, cultural upbringing,…and our observations about how others we know…satisfy the same need.…
Two people may have a need for shelter,…but one person's cool downtown loft…is another's suburban McMansion.…In a lot of situations we don't have strong preferences…for the brands we buy,…so long as they do what they're intended to do.…But in other cases, cult products…such as Apple or Harley Davidson, Chick-fil-A,…and the Boston Red Sox command fierce consumer loyalty,…devotion, and maybe even worship by consumers.…
Which side of the fence are your customers on?…The answer makes a big difference…in terms of how you market your product.…
First, learn the importance of consumer behavior in helping us understand when, why, and how purchasing decisions are made. Michael shares how factors such as color, shape, and sound influence our perception of brands and products. He discusses gender identity and products geared towards different genders, as well as how consumer lifestyles, values, and attitudes affect product preferences. Michael also goes into external influences on consumer behavior, covering how groups make decisions and how ideas spread. Finally, Michael explores the role emotion plays in purchase decisions, and how you can structure messages to maximize persuasion.
- Sensory marketing as a strategic tool
- How gender identity can affect product choice
- Personality and brand image
- Decision-making in groups
- Retailing as theater
- How ideas spread through the market
- Persuasive communications
- Influencing consumer behavior