Question

Topic: Customer Behavior

Is There A Cb Trend In Promo/offer Users/buyers?

Posted by rjohnni on 7/6/2010 at 6:30 AM ET 900 Points
Another slowdown inching out. Grandaddies of economics prophesies the Great Depression. There are discussions and discussions. Still to see some proper learning.

Your marketing nowadays (or from the time commercial immemorial) requires to offer promotions and offers to influence the Customer Buying Decision...or hasten the consumer buys...or prepone the buys...various keywords marketing experts use to rationalise the promos.

Questions are

* Do we see a clear data emerging of consumer clusters?

* Do we see a particular pattern of stimuli?

* Will various Socio Economic Classes react differently to different offers? Any data or theory?

* Luxe brands promos and customer reactions?

The core theme behind this set of query is, we see marketers jump into offers on the drop of a hat. But do we have any reading on the potential customers' reaction to this that can be/is recorded or data generated? So that the whole marketing world can use it based on customer expectation than just inventory clearance.

Please contribute towards this quest.

ThnQ,

RJ
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RESPONSES

  • Posted by mgoodman on 7/6/2010 at 11:22 AM Accepted
    If there's a trend or a common learning, it's that each customer has his or her own set of needs and considerations. Not only do these needs and considerations vary by industry and product category, but also by location, by the changing environment, corporate objectives, and even within the same individual over time and in different circumstances.

    The age of blind mass marketing is all but over. Sure, there are segments, but they're becoming increasingly granular as our ability to serve each of them specifically increases.

    And this is true in both B2B and B2C too. So the universal truth you seek is that (a) there is no universal truth, and (b) the importance of understanding your target audience at a deep and granular level has never been greater.

    In one sense, that's reassuring for marketers, because it says that our fundamental reason for being -- to understand and satisfy customer needs -- has not changed, even though many of the tools in our toolkits have.
  • Posted by rjohnni on 7/7/2010 at 9:32 AM Author
    Thanks Michael and Karen.

    @Michael: Though what you have postulated on the edge sounds right, but as we dwelve deeper, can see patterns of buying... Especially in Luxe Goods Promos, and Fashion Promos. And hence there might/will be patterns in categories/spending size/economic background et al. So alongwith hearing from you, I still am looking further to see emerging trends in these customers. And someone of your knowledge edge, I'm sure, you would help me in this thinking process further...

    @karen: sure, neuromarketing is an interesting topic to lean on. Had a glimpse, will definitely take for a propah reading.

    @rest of Profs: will you also help me?

    ThnQ,

    RJ
  • Posted by rjohnni on 7/14/2010 at 6:26 AM Author
    @Rich: Thank you for throwing in some light.

    @all: There are specific trends emerging through the various economies and at various stages in which various economies are. And the same scene is all the more relevant in mature western economies. Luxury propositions are under severe attack, though they all put up a brave face...Bundling and trading up are the name of the game...

    The value hunters are on the prowl. And they are here to stay. The future of marketing will lie with those who will be able to identify the value hunter cohort from their broad target group.

    ThnQ,

    RJ
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