Which Aspects of Consumer Behavior Should your Product or Service Emphasize in their Marketing Plan?
Which Aspects of Consumer Behavior Should your Product or Service Emphasize in their Marketing Plan?
Traditional marketing plans have focused on the launch of new products, gaining market share, positioning, ultimately focusing on the bottom line. More recently, the focus has been on the customer and consumer behaviors through market research. According to Stanford business the digital age has shifted consumer decision making and behaviors. The future of market research will see consumer decisions as they occur in real time, through forums, blogs and social media, rather than focusing on long term forecasting. “Even though Steve Jobs and Apple, did not use consumer research in the initial development of most products consumer behavior plays a huge role in their marketing and ultimately the success of the company (Zoeller, 2015). According to Zoeller, Apple utilizes the data the iTunes and App downloads to access insight on consumer behaviors and purchases.
This provides a competitive edge over Apple’s competitors giving them firsthand knowledge of their customer’s behavior without purchasing or sharing the data with the market. Although most organizations should focus on all aspects of consumer behavior, Apple has such a strong brand and following it is afforded the opportunity to solely focus on the culture of its brand personality and the loyalty of its customers. The Apple brand is the marketing plan. In a recent research study conducted by Morgan Stanley it found that Apple has a 90 percent brand retention rate, significantly higher than its competitors Samsung, LG and HTC. Is it all brand loyalty? Ad week defines consumer behavior as the bedrock of marketing but also cautions that it is changing. The game changer? The Apple Watch. “Apple Watch is Apple’s latest reinforcement of brand discrimination, a Timex-like computer fueling wrist envy with...