Diffusion of Innovation and Reference Group for Consumer Behavior
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Concept of Innovation Diffusion of Innovation curve Categories of Consumer in market of innovation and product The Chasm Diffusion of Innovation by Rogers VirginGalactic and Apple as Innovators and their product and service adoption in market Kinds of reference Groups in Consumer Behavior influence Aspirational,Associative and Dissociative Reference groups which influence our purchases and behavior Celebrity as influencer in market and its dimensions
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Diffusion of Innovation and Reference Group for Consumer Behavior
- 1. DIFFUSSION OF INNOVATION REFERENCE GROUP
- 2. Diffusion of Innovation process
- 3. Diffusion of Innovation process https://www.youtube.com/watch?v=j1uc7yZH6eU Everett Rogers "Diffusion of Innovations" Speech
- 7. APPLE WATCH • Understand the evolution of a product market influenced by interactions among incumbent offerings, subsequent competitive offerings, and emerging and developing customer preference. • Observe growth of the product category as a function of a product eco-system, consisting of a core product and clusters of complementary products. • the forces behind adoption of a new product or technology, and also to • conceptualize and simulate the diffusion of innovation of a product category or class as a function of adoption attitudes of potential buyers toward the innovation.
- 9. Palio Car Launch https://www.youtube.com/watch?v=Kl8j8doc0L8&t=55s https://www.youtube.com/watch?v=xxa_z1mQRos
- 12. Gold Flake/Charms • ITC's wide range of brands, includes Insignia, India Kings, Classic, Gold Flake, American Club, Wills Navy Cut, Players, Scissors, Capstan, Berkeley, Bristol, Flake, Silk Cut, Duke & Royal https://www.itcportal.com/brands-microsite/default.aspx https://www.youtube.com/watch?v=34fak C_vudY
- 13. Types of Reference groups Aspirational Associative Dissociative
- 14. Purpose of Reference Group
- 15. Reference Group & CB
- 16. WOM and Perceived Risks WOM and perceived risks open up a few thoughts for marketers. There are four quadrants. Low risks and high degree of WOM may be associated with fashion and fun products that may range from chewing gums to symbolic mobile phones and iPhone (“Fun and Frolic”). The risks involved are considerably lowered by the branded offerings (well known ones) and the buzz factor enhances the symbolic appeal of the offerings. Low risks and low WOM is applicable to everyday FMCG that are utility oriented. But even in this context, there may be brands like Colgate Max fresh that may trigger WOM through celebrity usage or a creative advertisement ( a lady officer officer seduced by a young man when he is asked to take the breath test to check for alcohol, as driver of a car). Several FMCG categories may fall under this “Mundane” category. High degree of perceived risk and low WOM is associated with high involvement categories that are not amenable to WOM (“State of the Art”). Advances in specific areas of medical care (artificial saliva recommended by dentists for some patients) is an example. Finally “Deep Decisions” are those that are more oriented towards utility value of categories and brands. For example, a consumer who is interested in buying a washing machine or an electric cooker may rely on WOM to ascertain to what extent a brand provides value. This is different from “Fun and Frolic” where WOM is more about the symbolic value/acceptance in a specific group.
- 17. The Triad Route to celebrities and Brand Associations The triad theory suggests that a consumer will ensure that he/she has an attitude that is in consonance with the brand if he/she likes the celebrity. For example, consumers who may like Amitabh may have bought the TATA SKY brand simply because he has endorsed the brand. A non-profit organization like PETA (People for Ethical treatment of Animals) may have a celebrity like Paul McCartney (one of the members of Beatles, the “Rock and Roll” group that became a legend) to advocate vegetarianism. The theory works on the basis that consumers who like the celebrity will also associate themselves with the brand/cause advocated by the celebrity. The basic point is that a consumer would want to create equilibrium in himself/herself by adopting these synergies among these associations. A camera brand Rebel used Andre Aggasi, the tennis player known for his temperamental behaviour on the tennis field- adding one more dimension of synergy between the traits of the celebrity and the name of the brand.
- 19. Associative Reference group https://www.youtube.com/watch?v=ALxiXkHxqCc Rin Vs Tide by JWT india.flv – YouTube https://youtu.be/HAEb2UmA_w8
- 21. Celebrity usage & their impact Vespa Scooter Steven Spielberg
- 22. Factors to be considered in Celebrity Usage • Importance of the Target segment • Celebrity clutter in the category • Celebrity as a long term Brand property
- 23. Dimensions of Celebrity Usage Need Brand Celebrity Benefits Usage Brand awareness Santro (Cars) Created awareness in a market in which the brand was unknown Top of the mind recall Cema (bulbs) Improved brand recall in a low involvement category FMCG-lifestyle Pepsi (cola) Attracted youth population orientation Product-benefit Boost (drink) Lux (soaps) benefits Cine stars endorse brand Relaunch Colgate Total (toothpaste) Conveyed the benefit (12 hour protection) through the celebrity Established brand appealing to the rural segment BPL (durables) Celebrity enhanced the credibility of the brand Preserving a habit against changing trends Parker(Pens) Celebrity endorsed a global brand and also retriggered the interest in using the basic pen in a digital era Reinforcing brand personality Rajdoot (early eighties) The rugged celebrity association reinforced the brand personaltiy
- 24. Hyde Effect • Mohammad Azharuddin- Pepsi • Hansie Cronje- Han stead https://www.marketingmag.com.au/hubs-c/jekyll-hyde- double-edged-sword-social-media/
- 25. HLC
- 26. Extra Resources https://www.youtube.com/watch?v=fHGOLU6APxc https://www.youtube.com/watch?v=589tH-wtCak The tribes we lead How to get your ideas to spread