project
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4ConsumersDecisionMakingTargetingMBAWinter21-22HO1.pptxMGT 247 The Consumer Decision Process & Identifying the Problem & Appropriate Solutions
Dr. Campbell
Week 4: January 25, 2022
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Meg Campbell () - Need promotion spending amount for 2013 or 2014.
Introductions
Viresha Perera
Shih-Wei Pan
Simone Palmer
Mei Shan Lui
XiaoXiao Lu
Emily Lor
Xingyi Liu
Guanyu Liu
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Last Class
What is the difference between strategic and tactical targeting?
What are the three steps in positioning?
Why do you need to be consistent across marketing communications?
Does every different target need a different positioning?
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Learning Agenda
Positioning Types
Consumer Decision-Making Process
Basis for Communication Objectives
Identifying targets’ stage in the decision-making process
Developing solutions that address targets
Introduce communication objectives
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Common Positioning Types
Product Attributes or Benefits
Price/Quality/Service
Value-for-money
Cultural symbols/Brand characters
Identity
Underdog
Authenticity
Cool
Users/Lifestyle
Use
Product class
Competition
Underdog
Social Mission
Incentives
Distribution
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Positioning Types
Product Attributes or Benefits
Price/Quality/Service
Value-for-money
Cultural symbols/Brand characters
Identity
Underdog
Authenticity
Cool
Users/Lifestyle
Use
Product class
Competition
Underdog
Social Mission
Incentives
Distribution
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Any questions about these common approaches to positioning?
Communication Targets
Need to specify who you want to speak to with any given campaign or communication
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Understanding Your Target
What do they think about us and what do they need to think about us?
Let’s briefly review consumer decision-making and the hierarchy of effects from the video.
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The Consumer Decision-Making Process
Motivation
Information Search/
Knowledge of Alternatives
Problem Awareness/
Need Recognition
Perception
Information Search/
Knowledge of Alternatives
Attitude formation
Integration
Learning/attitude
Evaluation/
Preference
Decision/
Purchase
Post
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What do they think about us and what do they need to think about us?
What they think about us and what they need to think about us is, in part, dependent upon where they are in terms of these stages of decision making.
Develop marketing communications with this in mind.
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What is “the Purchase Funnel”?
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The Consumer Purchase Funnel
Knowledge
Problem Awareness
Liking /
Preference
Purchase
Decision
Post
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What is the Purchase Funnel?
The purchase funnel is a simple way to visualize the complex process of garnering leads and converting them into paying customers.
The purchase funnel is a consumer-focused marketing model that illustrates the theoretical customer journey toward the purchase of a good or service.
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The most appropriate tool will be influenced by what your target thinks about you and their decision- making stage
The objective for a campaign is based on your target’s decision-making stage, what they think about you and what they need to think about you.
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How do we increase total customers?
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Identifying Solutions
What tool is best to achieve our sales objectives? (4 P’s)
Can communications help with the particular problem the firm wants to solve?
More advertising?
Different messaging?
Change or add media?
Incentives? (e.g., sales promotion)
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Need to Assess Situation and ID Solutions
Identify a which think we can influence
Determine which tools of the 4 P’s are most useful for the current situation
Which are most impactful for your target?
Consider what objective could communications achieve that would be useful?
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BCG Growth Share Matrix
? – Analyze
Dog – Divest
Star – Invest
Cash Cow – Milk…or Analyze
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Awareness
Knowledge
Liking
Purchase
Re-purchase
Case 1
30%
28%
25%
23%
20%
Case 2
80%
35%
25%
23%
20%
Case 3
80%
70%
45%
23%
20%
Case 5
80%
70%
45%
38%
30%
Case 4
80%
65%
45%
35%
8%
Decision-Making Stages Approach
Percentages of target
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Awareness
Knowledge
Liking
Purchase
Re-purchase
Case 1
30%
28%
25%
23%
20%
Case 2
80%
35%
25%
23%
20%
Case 3
80%
70%
45%
23%
20%
Case 5
80%
70%
45%
38%
30%
Case 4
80%
65%
45%
35%
8%
ADVERTISING
MEDIA
ADVERTISING
MESSAGE
DISTRIBUTION/
PRICE
NICHE/TARGET
PRODUCT/
TARGET/
PROMOTION
Decision-Making Stages Approach
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World of Warcraft Individual Assignment
WOW has asked you to:
identify the best target and explain your rationale
discuss what that target does and does not know about WOW
identify what the target needs to know (where is the target in terms of the consumer decision making process and what will move the target toward WOW?)
identify the best positioning for WOW to take
develop a positioning statement including POP and POD
Due: Sunday, January 30, 2022 by 8 pm
Food for Thought
How will you know where customers are in terms of the hierarchy of effects?
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How Do We Know Where the Target is?
Ask (aka Market Research)
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Tokyo Joe’s
.
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How Do We Know? Tokyo Joe’s
How often do you go out for lunch?
When was the last time you went out for lunch?
When you are going out to lunch, what places do you consider?
What are your top 3 places to go to lunch?
How familiar are you with Tokyo Joe’s
Have you been to TJ’s for lunch? (Never to frequently)
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How Do We Know? Tokyo Joe’s
Overall, what is your perception of TJ’s?
What do you think of TJ’s on each of the following compared to your top lunch places? (food, price, ambience…)
How do consumers make the decision? (individually, group)
Lunch different from dinner?
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Next Class
Reflections (Saturday Jan 29 by 8)
World of Warcraft Individual Assignment (Sunday Jan 30 by 8)
Readings
Video on the Consumer Journey
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See you next week.
Stay Healthy!
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