Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Identifying and understanding consumers

3,640 views

Published on

Identifying and understanding consumers

Published in: Retail

Identifying and understanding consumers

  1. 1. Identifying and Understanding Consumers
  2. 2. What Makes Retail Shoppers Tick 2
  3. 3. Demographics and Lifestyles  Demographics  consumer data that is objective, quantifiable, easily identifiable, and measurable  Lifestyles  ways in which consumers and families live and spend time/money 3
  4. 4. Understanding Consumer Lifestyles: Social Factors Lifestyle Culture Reference Groups Social Class Family Life Cycle Time Utilization Household Life Cycle 4
  5. 5. Understanding Consumer Lifestyles: Psychological Factors Lifestyle Personality Attitudes Perceived Risk Purchase Importance Class Consciousness 5
  6. 6. Perceived Risk and Consumers 6
  7. 7. Three Special Market Segments  In-Home Shoppers  Online Shoppers  Outshoppers 7
  8. 8. Attitudes Towards Shopping  Level of shopping enjoyment  Shopping time  Shifting feelings about retailing  Why people buy or not on a shopping trip  Attitudes by market segment  Attitudes toward private brands 8
  9. 9. Top Reasons for Leaving an Apparel Store Without Buying  Cannot find an appealing style  Cannot find the right size  Nothing fits  No sales help is available  Cannot get in and out of the store easily  Prices are too high  In-store experience is stressful  Cannot find a good value 9
  10. 10. Cross-Shopping  Shopping for a product category at more than one retail format during the year  Visiting multiple retailers on one shopping trip 10
  11. 11. The Consumer Decision Process 11
  12. 12. Key Factors in the Purchase Act 12
  13. 13. Types of Consumer Decisions High RISK & TIME Low Extended Limited Routine 13
  14. 14. Types of Impulse Shopping  Completely unplanned  Partially unplanned  Unplanned substitution 14
  15. 15. Devising a Target Marketing Strategy 15
  16. 16. Environmental Factors and Consumers  State of the economy  Rate of inflation  Infrastructure for shopping  Price wars  Emergence of new retail formats  People working at home  Regulations on shopping  Changing social values and norms 16

×