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CONSUMER BEHAVIOR CDM and Content Marketing

Dr. Jay I Sinha Associate Professor of Marketing

Fox School of Business

Temple University

This Week’s Agenda

 Consumer Decision Making (CDM)

 Content Marketing

 Heroic Branding

 Final Quiz Tips

Levels of Consumer Decision

Making

 Extensive Problem Solving

 A lot of information needed

 Must establish a set of criteria for choice

 Limited Problem Solving

 Criteria for evaluation already established

 Moderate risk and involvement

 Routinized Response Behavior

 Usually execute what has been done many times

Routinized Response Behavior

Consumer

Decision Making

Figure 15.3

Process - Need Recognition

 Usually occurs when consumer has a

“problem”

 Need recognition styles

 Actual state

 Desired state

Prepurchase Search

 Begins with internal search and then moves

to external search

 The impact of the Internet

 There are many factors that increase search

 Product factor

 Situational factors

 Social acceptability

 Consumer factors

Evaluation of Alternatives

 Evoked set

 Criteria used for evaluating brands

 Consumer decision rules

 Decisions by functionally illiterate population

 Going online for decision-making assistance

 Lifestyles as a consumer decision strategy

 Incomplete information

 Applying decision rules

 Series of decisions

 Decision rules and marketing strategy

EVOKED SET (8+) CONSIDERATION

SET (4-5)

CHOICE SET (2-3) CHOICE (1)

Issues in Alternative

Evaluation

• Evoked Set • Criteria used for evaluating brands • Consumer decision rules and their

application • Decisions by functionally illiterate population • Going online for decision-making assistance • Lifestyles as a consumer decision strategy • Incomplete information • Applying Decision Rules • Series of decisions • Decision rules and marketing strategy

Consumer Decision Rules

• Compensatory

– evaluates each brand in terms of each relevant attribute

and then selects the brand with the highest weighted

score.

• Noncompensatory

– positive evaluation of a brand attribute does not

compensate for a negative evaluation of the same

brand on some other attribute

– Conjunctive, disjunctive, or lexicographic

Use of Decision Rules

Decision Rule Mental Statement

Compensatory rule I selected the tablet that came out best when I

balanced the good ratings against the bad

ratings

Conjunctive rule I selected the tablet that had no bad features

Disjunctive rule I picked the tablet that excelled in at least one

attribute

Lexicographic rule I looked at the feature that was most important to

me and chose the tablet that ranked highest on

that attribute

Affect referral rule I bought the tablet with the highest overall rating

Issues in Alternative

Evaluation

• Evoked Set • Criteria used for evaluating brands • Consumer decision rules and their

Issues in Alternative

Evaluation

• Evoked set

• Criteria used for evaluating brands

• Consumer decision rules and their application

• Decisions by functionally illiterate population

• Going online for decision making assistance

• Lifestyles as a consumer decision strategy

• Incomplete information

• Applying Decision Rules

• Series of decisions

• Decision rules and marketing strategy 18

Output of Consumer Decision

Making

 Purchase behavior

 Trial purchases

 Repeat purchases

 Long-term commitment

 Postpurchase

evaluation

Postpurchase Evaluation

 Actual Performance Matches Expectations

 Neutral Feeling

 Actual Performance Exceeds Expectations

 Positive Disconfirmation of Expectations

 Performance Is Below Expectations

 Negative Disconfirmation of Expectations

Why Content Marketing?

 Marketing is changing – from traditional push marketing to

“Indirect Marketing”.

 “Buy this, it’s great” does not work anymore.

 The main reason for it is the increasing ineffectiveness of

traditional marketing.

 And the reason behind that is the emergence of a New

Buyer who is: (1) savvy; (2) cynical; and (3) connected.

 Psychological Reactance is also playing a big part.

 What is Reactance?

 Consequently, Marketers are now acting more as “Content

creators” or “Community Managers”.

 “Valuable Content” is one that is trusted, read and shared. It is

information that is genuinely useful, relevant, informative and

entertaining.

Content Marketing (contd)

 If you want success from Content Marketing, the principle to

follow is: “Stop Selling and Start Helping the Buyers”.

 Like many good ideas, marketing with content is very simple. It

means seeing your business from your customers’ point of

view – offering answers, developing relationships, being there

when they need you, putting your own agenda aside.

 Marketing the content way is a far cry from the unrewarding

drudgery of cold calling or blanket-bomb direct mail campaigns.

 “Some companies are winning, even in a tough market. They

are consistently getting a stream of good leads for their

business – from their websites and from social media too. Their

networks are expanding rapidly and delivering referrals that are

easy to convert. To top it off, they say that they enjoy

marketing too!”

Video

Presentation

https://www.youtube.com/watch?v=dBnpr3pkFlk

What are the Best Content Creators

doing?

 Marketing online using ALL available tools.

 With relevant content. Their marketing and web strategy

centers on continuously creating and sharing relevant content,

not overt sales messages.

 Clear message. Those that get the best results have a clear

understanding of who they do business with and what makes

their customers or clients tick. They create relevant content just

for them.

 They are generous. They fully understand the old adage that if

you give you will get.

 Quality is their watchword. It‟s not just any old content they

share, just to please the search engines, but genuinely useful,

well-produced, creative content that sets them apart from the

crowd.

Coca-Cola’s Move to Content

 Coca-Cola has been focused on traditional media and agency- led advertising since its founding over 100 years ago.

 In 2012 they announced through a series of beautifully

produced YouTube videos that they are shifting their marketing attention to sharing compelling content across social networks in order to grow their business.

 Their marketing mission statement for 2012 onwards is titled: „Content 2020‟.

 “To win today, Coca-Cola recognizes that it must move from creative

excellence to content excellence. All advertisers need a lot more content so that they can keep the engagement with consumers fresh and relevant, because of the 24/7 connectivity. If you‟re going to be successful around the world, you have to have fat and fertile ideas at the core.”

Jonathan Mildenhall – Coca-Cola‟s VP of Global Advertising Strategy and Creative Excellence

Types of Content: Blogs, Newsletters, Emails,

Videos, etc.  Lists of tips or ideas. Ranked or numbered lists work very well.

 Reviews of books that you recommend. Your comment on

news that‟s relevant to your clients.

 „How to‟ articles/videos.

 Content stating costs and benefits of some tactic/approach.

 An interview with one or more clients/customers.

 A critique of someone else‟s article or opinion, with your view

on what works or what does not.

 Ask other experts a question and share their response.

 A case study on a company you have worked on.

 Conduct a survey and share the response.

 A round-up of topical news for your community.

 Share or create a “viral” video, cartoon or graphic.

Which tool is best for sharing content

(2012 numbers)

 Twitter 74 percent

 LinkedIn 71 percent

 Facebook 70 percent

 YouTube 56 percent

 SlideShare 20 percent

 Google + 13 percent;

 Flickr 10 percent.

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