Marketing Influence on Consumer Behavior
In grad school, my professor asked his students a question pertaining to consumer behavior, marketing and unknown consumer wants. As a marketing specialist, I am quite fascinated by consumer psychology, so I decided to share my take on this.
Some marketers maintain that consumer insights obtained from consumer research is the only way to create value and satisfy consumer needs and wants. Other marketers disagree and propose that consumers often don’t know or are unable to explain what they need or want. Who do you think is right?
I believe they are both right. It is true that consumers often don’t know or are unable to explain what they need or want. However, in order for marketers to identify and satisfy those needs and wants, consumer research is necessary.
My example is from my personal experience. Facebook advertising is one of the many ways I promote my clients’ businesses. One small business I worked with specialized in baby products. One product in particular is a fruit/vegetable feeder, teether and pacifier in one. Most new parents with teething babies already own teething toys and pacifiers. So in this case, our marketing pitch was ‘train your baby’s taste buds’. With the current health craze, we decided to identify a need the consumer did not know they had. The need to train and manage the food choices their children will make in the future. We also stated how convenient it was to have all three functions in one. Eliminating clutter and subsequently saving money.
Like most digital platforms that engage visitors, Facebook conducts direct and indirect research. This is done by polls, Facebook engagements and cookie monitoring. Using this information, we would promote our digital ads to new parents in the United States. We would specifically target new parents who are already interested in Teethers and Pacifiers. We did not target a specific income group because this product was/is under $15. We also know that most new parents are usually connected to other new parents on Facebook. This means that any form of engagement on the Ad, even if it’s not a direct purchase, will increase our organic (non-paid) reach. Their Facebook friends will see their ‘likes’ and comments.
Thanks to consumer research and our ability to identify an unknown need. This hyper targeting strategy increased sales by almost 50% in the first year of implementation.