Consumer Behavior When developing and planning to advertise a new or existing product, an important step for the company or firm is to access the consumer behavior of their target market. Consumer behavior can be defined as the study of how consumers make decisions on “what they buy, want, need, or act in regards to a product or service” (Schofield, 2016). Consumer behavior results that are properly executed by firm or company can provide important information about consumer wants, how consumers learn about products or services, and how they spend their money (Schofield, 2016). Companies who have mastered and succeeded in their advertising and marketing efforts have a great understanding of consumer behavior, in which they tailor their advertisement and provided products or services that appeals to the consumer (Schofield, 2016). In order to have a clear understanding of consumer behavior, all three components of consumer behavior such as cultural, psychological, personal and social information have to be gathered and compiled create advertisement that would intentionally create a demand or need (Schofield, 2016). Cultural Cultural factors are the “different components related to culture or cultural environment [that] the consumer belongs” (Perreau, 2016). A consumer cultural environment instills moral and values, behavior norms and preferences to their own cultural. For example, as it pertains to the Owlet baby monitor product, consumers in other parts of the world such as a developing countries probably do not have the same technological awareness or advanced as the United States. Therefore, the company would have to come up with a campaign for the Owlet product that is more relatable to that particular culture. Subculture A subculture is a group of individuals who share the same values or similar lifestyles, such as nationalities, religions, ethnic groups, age groups, gender, and etc.. (Perreau, 2016). For example, branding for make up for women has expanded than past years, in which more products are offering different varieties/options of foundation created for non-Caucasian consumers to purchase (Perreau, 2016). Social class Social class involves groups of individuals who are ranked against each other according to their social hierarchy (Perreau, 2016). Three known catergories are lower or working class, middle class and upper class. All individuals that occupy these different categories have different interest, desires, purchase power, and consumption patterns (Perreau, 2016). Which mean that not everyone buys the same products. For example, middle and upper class consumers generally have the means to purchase healthy food products than the working class who may have to settle for unhealthy food such as fast food (Perreau, 2016). Psychological Psychological factors deal with the consumer thought process of buying a product or service (Schofield, 2016). In addition, psychological factors include what motivates the consumer, their need, ability to learn and understand information, and their attitude (Schofield, 2016). Emotional and cognitive motivation of the consumer is what ignites purchasing behavior (Perreau, 2016 and Wu, 2009). Consumers who purchase Owlet’s product are probably motivated by preparing for the threat of SID (Sudden Infant Death Syndrome) and motivated by their emotions of fear of SIDS (Wu, 2009, pgs. 13 & 19). In Fei Wu (2009) article the author states that emotional motivation such as anxiety can be seen as important motivator that drives people to deal with health risk (Wu, 2009, pg. 22). New parents to newborns are concerned
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There are five major characteristics of a big idea. The first characteristic is that the big idea has to resonate with consumers. The idea behind the product must be so powerful and meaningful that it connects with consumers in a way that it seems personal to them. The second characteristic, big ideas must be disruptive. Big ideas create a new lane, “a new way of thinking, feeling, or acting” (Hernandez, 2012). Third, big ideas must give consumers something to talk about or talk value (Hernandez,2012). The big idea must generate buzz, word of mouth and instill urgency in people to spread the word or share (Hernandez, 2012). Fourth, “big ideas stretch brands” (Hernandez, 2012). A big idea such push limits and boundaries without risking believability or credibility (Hernandez, 2012). Lastly, big ideas must be universal. Big ideas have to speak to all people across the world no matter social class or ethnic background (Hernandez,
There are five major characteristics of a big idea. The first characteristic is that the big idea has to resonate with consumers. The idea behind the product must be so powerful and meaningful that it connects with consumers in a way that it seems personal to them. The second characteristic, big ideas must be disruptive. Big ideas create a new lane, “a new way of thinking, feeling, or acting” (Hernandez, 2012). Third, big ideas must give consumers something to talk about or talk value (Hernandez,2012). The big idea must generate buzz, word of mouth and instill urgency in people to spread the word or share (Hernandez, 2012). Fourth, “big ideas stretch brands” (Hernandez, 2012). A big idea such push limits and boundaries without risking believability or credibility (Hernandez, 2012). Lastly, big ideas must be universal. Big ideas have to speak to all people across the world no matter social class or ethnic background (Hernandez,