Emerging Trends In Consumer Behavior

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Consumer Behavior is changing rapidly everyday. How do brand marketers of today deliver their message cutting through the clutter and optimize their brand messaging using the ever changing media trends. This presentation talks about several approaches various industries and companies are adopting today to market themselves more effectively using consumer behavior.

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Emerging Trends In Consumer Behavior

  1. 1. Emerging Trends In Consumer Behavior Anand Varadarajan Presented at SSIM, Hyderabad
  2. 2. What's In It For You? • A brief look at: – Social Media – Brand Advocacy – Brand Buzz • Emerging Consumer Behavior • Positive and Negative Brand Advocacy • Brand Websites • Campaigns with Human Touch- Sony Case Study • Companies using Social Media • Brand Buzz Measurement- Tarceva Case Study • Brand Association Map (It's a Trade Secret ) 08/07/09 2
  3. 3. Problem Definition- 1 Consumers see thousands of commercial messages every day. They ignore almost all of them. How can brands possibly break through the clutter? 08/07/09 3
  4. 4. Problem Definition- 2 How can brands capitalize on the layers of complexity getting added to the media environment everyday? 08/07/09 4
  5. 5. The Solution Let consumers help create the message 08/07/09 5
  6. 6. Consumer of the Past 08/07/09 6
  7. 7. Modern Consumer 08/07/09 7
  8. 8. Mobile Commerce In Control: Mobile Commerce 08/07/09 8
  9. 9. Technology Savvy: E- Commerce E- Commerce 08/07/09 9
  10. 10. Convenience Seekers Ready-To-Eat Foods 08/07/09 10
  11. 11. Aspirational 08/07/09 11
  12. 12. The Modern Consumer: Characteristics ● Wants to be in control ● Bold and Expressive ● Convenience seeking ● Aspirational 08/07/09 12
  13. 13. A Tectonic Shift From the Past Social Media 'Word of mouth' spread through social networks Consumer Brand Association Generated Advertising Attributes associated with the brand by consumers Advertising based on consumer perception Consumer Buzz Online Attention grabbing properties King Consumer Communities of the brand & cascading Micro community sites; impact it can generate Rating & review sites; Brand Advocacy Consumer & media blogs 'Word of mouth' recommendation of the product or service 08/07/09 13
  14. 14. Consumer Expression Social Media 08/07/09 14
  15. 15. Social Mediascape Source: Ubiquity Media 08/07/09 15
  16. 16. Brand Advocacy Recommendations from ordinary people are the most powerful and credible sources that consumers use when considering purchase options. - Jupiter Research, 2007 An Advocate is someone who tells everyone how great your business is. -Murray Raphel 08/07/09 16
  17. 17. Online Communities 08/07/09 17
  18. 18. Growth in Social Media Growth in Facebook Growth in Wikipedia 08/07/09 Growth in Twitter 18
  19. 19. Mobile Internet Telephony Penetration of Mobile Internet Source: Nielsen Mobile The proliferation of smartphones Compelling consumer experience benefiting from 3G network Mobile advertising, however, experimental at best- expected to grow at a furious pace
  20. 20. Factors Prompting CGM Source: 2007 Nielsen CGM 08/07/09 20
  21. 21. Positive Brand Advocacy 08/07/09 21
  22. 22. Negative Brand Advocacy 08/07/09 22
  23. 23. Patient Advocacy Positive patient advocacy for the new smoking cessation drug Online discussion boards serve as an empowering tool for patients Patients ask informed questions and take control of their health & treatment
  24. 24. Must Stay Credible at All Cost! 08/07/09 24
  25. 25. What it Entails for Brand Marketers Area of focus Source: The Nielsen Company, 2008 08/07/09 25
  26. 26. Examples of Brand Websites 08/07/09 26
  27. 27. Share My Idea 08/07/09 27
  28. 28. Share My Story 08/07/09 28
  29. 29. Design the World a Coke 08/07/09 29
  30. 30. Companies Using Social Media 08/07/09 30
  31. 31. @comcastcares on Twitter For better customer service Alternative to jammed inbound call center 08/07/09 31
  32. 32. @FlyKingfisher on Twitter Used for Customer Communication Faster response 08/07/09 32
  33. 33. Exclusive Facebook Gadgets- Cirque Du Soleil A performing arts and circus company Facebook offers exclusive content such as backstage photos and videos, interaction with performers and show updates Widget determines which shows match the mood Added 23000 fans around the world
  34. 34. Corporate Blog- Gene Logic More than 300 users on our LinkedIn account Highly targeted audience Has improved marketing campaign effectiveness
  35. 35. Brand Campaigns With Human Touch 08/07/09 35
  36. 36. Tata Tea 'Jaago Re' Campaign Encourage India's youth to participate in elections Redefined awakening attributes of tea 08/07/09 36
  37. 37. TOI- Lead India Campaign Involved people from all over country Made people feel good about their contribution Generated massive buzz and visibility 08/07/09 37
  38. 38. The Axe “Call Me” Campaign Audacious and Bold Voices the bold expression of today's youth Massive buzz and offtake 08/07/09 38
  39. 39. Consumer Generated Advertising- Honda Insight Using online buzz topics to create Ad Timing of Ads with launch Used bloggers' comments on green BG for Eco-friendly
  40. 40. Sony Campaign Objective ● Build branded social community ● Increase awareness ● Engage more customers ● Retain “Innovation Enthusiasts” who value latest technological features ● Increase customer loyalty ● Increase Sony business 08/07/09 40
  41. 41. Backstage 101 Digital Darkroom 08/07/09 41
  42. 42. Sony Campaign- Results • Increased repeat visits and new customers • Increased brand awareness • Increased customer loyalty and advocacy- 59% customers said they would recommend Sony products to family member, friend & coworker • 36% of users bought Sony product compared to 20% the previous year 08/07/09 42
  43. 43. Brand Buzz and Measurement Attention grabbing properties of the brand and cascading impact it can generate 08/07/09 43
  44. 44. Generating Brand Buzz 08/07/09 44
  45. 45. Bank of China Introduced 4 million currency notes to commemorate 2008 Olympics Notes snapped up @ 7 times their value Customers wanted to frame them as memory 08/07/09 45
  46. 46. Designer Cotton Bag Designed to replace plastic bags Covered by fashion magazines Sold at a premium to its original price 08/07/09 46
  47. 47. Measuring Brand Buzz Here Comes the Trade Secret! 08/07/09 47
  48. 48. 08/07/09 Courtesy: Nielsen Online 48
  49. 49. Brand Association Map Analysis of consumer communication on the internet • Obtain directional insights • Assess competitive attributes and issues • Determine messaging elements to optimize brands 08/07/09 49
  50. 50. Generating Brand Buzz- Tarceva Case Study ● Study conducted by Nielsen Buzzmetrics, New York ● Buzz data collected from relevant online patient forums ● Tarceva (Genentech) was compared with Abraxane (Abraxis Oncology) ● Predominantly word-of-mouth discussion data ● Level of discussion tracked for 6 months prior to FDA approval and 4 months post approval
  51. 51. Generating Brand Buzz- Tarceva Case Study Percentage of Users Discussing Tarceva and Abraxane Note: Tarceva n = 2,515 users in lung cancer communities between May 25, 2004 and March 31, 2005; Abraxane n = 6,760 users in breast cancer communities between May 25, 2004 and March 31, 2005.
  52. 52. Generating Brand Buzz- Tarceva Case Study ● Therapies with pre-approval buzz resulted in enormous increase in post-approval discussion ● Interest in drugs with pre-approval buzz continued to grow several months after their approval ● The amount of interest was not directly related to the potential for the new drug Conclusion: Investment in generating pre-launch buzz, however modest, can lead to an exponential increase in the word of mouth a product receives once it becomes available to its targeted market.
  53. 53. People don't care how much you know until they know how much you care - about them and their problems. - Robert Cavett 08/07/09 53

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