Newspaper buying behavior analysis
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This document analyzes consumer buying behavior for newspapers and the impact of digital media. It conducted a survey to understand factors like demographics, psychographics, and the consumer decision making process. It found that most consumers first recognize a need, then search for information about alternatives by recalling newspaper brands and awards. They evaluate alternatives based on availability, price, and content before deciding to purchase. Post-purchase, consumers provide feedback that can be used to improve. Segmentation analysis found working professionals and students comprise most of the market. Recommendations include launching regional and need-specific editions, and focusing on digital content.
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Consumer Choice
The document discusses three types of consumer choice processes:
1) Affective-based choice, which is based on an immediate emotional response to a product without considering attributes. Marketers should help consumers envision how a product will make them feel.
2) Attribute-based choice, which involves comparing a product's specific attributes to other options. This process is more effortful and takes more time.
3) Attitude-based choice, where decisions are made based on general attitudes, impressions, intuitions or heuristics rather than comparing attributes.
The type of choice process used depends on motivation, available information, and the situation. Combinations of these processes may be used for a single decision.
E_WOM-Do Brand Advocates "Good mouth" on Facebook?
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Newspaper buying behavior analysis
- 1. Prashant Sharma, Prateek Jain Preeti Ravi Pushker Prasad Raghav Kalia Analyzing newspaper buying behavior
- 2. To understand the consumer buying behavior for the purchase of newspapers while understanding the impact of digital media across information platforms Objective
- 3. Methodology Primary collection through survey Analysis based on data set Segmentation using finding Establishing core principles of the buying behavior
- 4. Question Segmentation Factor Decision Making Step Gender, Region & Age Demographic Language of Newspaper Consumer Behavior Need Recognition Profession of Reader Consumer Behavior Need Recognition Medium of Advertising Psychological/Social/Marketplace Behavior Search for Information Awards & Recognitions for the newspaper Psychological Behavior Search for Information Type of Newspaper Psychographic Behavior Evaluation of Alternative Availability of Newspaper Demographic Behavior Evaluation of Alternative Mode of Purchase Marketplace/Psychological Behavior Purchase Decision Satisfaction with the Brand of Newspaper/Brand Loyalty Psychological Behavior Post Purchase Evaluation Questionnaire Mapping
- 5. Consumer’s Decision Making Process Step 1: Need Recognition Unsatisfied need identified to be fulfilled by the available options Step 2: Search for Information Recall newspaper brand based on awards and honors received Consult social group Step 3: Evaluation of Alternatives Check out the range of available options to fulfill the need Step 4: Purchase Decision Functional risks Physical risks Financial risks Psychological risks. Step 5: Post Purchase Evaluation Feedback for an opportunity to improve
- 6. Factors affecting each step of the process Need Recognition: Internal and External Stimuli Realizing the need to be updated due to social group opinions Search for Information: Where and How? Find what you want keeping in mind the availability, price, relevance of content Evaluation of Alternatives: -Price -Language -Brand image of the newspaper -Content type Purchase Decision: -Region -Frequency of usage Post Purchase Evaluation: Satisfaction level Recommend to others or subscribe to another newspaper or look for free articles
- 7. Segmentation Strategy 29% 31% 40% Is increasing Internet usage affecting newspaper reading Maybe No Yes
- 8. AccessibilitySearch • Top choice under pecking order • High Recall value Basis of comparisonAlternatives • Penetration & Availability • Awards & Recognition • Price Point of SalesOutlet • Newspaper Stands outside Corporate structures • App downloads • The local distributors How do you influence others?
- 9. Post Purchase Feedback Consolidating readers under one roof to bring sense of belongingness Brand engagement by organizing events such as marathons, health check camps Offer free subscription to gain access consumer information Offer freebies if consumer fills out surveys For urban/App based users - Social Media feedback - App based feedback - Use web analytics tools to understand changing consumer needs
- 10. Conclusion & Recommendations Segmentation based on psychographic and demographic data Go local- Launch a number of editions to exploit potentials at regional level Working professionals and students comprise of 75% of the newspaper market Working professionals and self employed people use newspapers as a source of information, whereas homemakers and students use it for improving their language skills Launching need specific newspaper editions for students and working professionals Focus on digital content to keep brand alive due to increasing smartphone & internet penetration