Know-How Exchange : Advertising/PR

Cpritcha,

For any consumer product quality and price are the key issues for selection of products. Let’s start with the practical example:

When you go to shopping centre, you always go to the shop where you want to buy product e.g., cloths or other household items. You always choose the product which will be durable (branded) for long run, quality and cost (cheap).

But it also depends on the - The psychology of how consumers think, feel, reason, and select between different alternatives. But not just a look can makes his final decision.

Direct mail, online advertisement or other promotional offers can make him to think about the product to buy (he always ask himself “Is this is the right time”) but the final decision is depend on the Product Quality (there will be another area of BRAND) and Cost of product to get require service. Some time it also varies from product to product.

I hope this will help!

Regards,

M Bhor

Web:

1. https://www.consumerpsychologist.com/

I think that I’d have replied along the lines MANSING took were it not your clarification – you want a new angle to look at but one which is documented enough to produce enough background for a thesis.

The latest area which is not new but has only recently become a publicised topic combines Basket Analysis, CRM and Data Mining.

When it was introduced, the Tesco Club Card (A Loyalty card) was dismissed by its competitors as “Just another set of Green Shield Stamps” (A once successful reward system for loyal customers)

It was much more because it not only rewarded loyal customers with redeemable points for their purchases but it built up a formidable demographic database on customer purchases – by item, by value, by location, by time and for the holder of the card, for the individual customer.

The founder of the card, Clive Humby, founded Dunnhumby which still runs the Tesco Scheme and the potent combination of data collection, basket analysis, profiling and DM might just give you enough meat for rather a long dissertation.

Just plonk Dunnhumby, Clive Humby, or Tesco Loyalty Card into Google and you’ll get the history, the latest, tons of figures and the most recent corporate developments for Dunnhumby.

Their only weakness that I can see is a reliance on rather structured methods of data mining and a lack of utilizing Neural Approaches as offered by Neural Ware and the like.

Regards


Steve Alker
Unimax Solutions