What I learned this semester

Throughout this semester I have learned about many of the consumer behavior ideas, theories and

have gained a better understanding of how consumers behave.

This ranges from learning about individual consumers, how people see themselves, consumers perception and motivation to how consumers make decisions and the culture of consumers.

 I have also learned through the book Nudge, that people need a little push in the right direction, so they make the right choices. This might be do their "Predictably Irrational" (another book we read) side, where people are bound to make irrational decisions.



I think the best thing that I have taken away from this class is the ability to be able to recognize consumer behavior ideas in the real world. I see it throughout movies I watch, in stores, everywhere. Understanding these ideas will help me in my marketing career, but also in my own experiences as a consumer.

For example, when I am in a store I recognize that the brands that have paid more for advertising space that is in my direct line of vision.

From taking this class I have a better understanding of the marketplace and consumer interaction. 

Consumers and Colors

I read an article in Science Daily about a study that a consumer researcher did that tested the colors of

logos and the emotions that people felt. She found that blue was associated with confidence and success; green with environmental friendliness, durability and sustainability; purple with femininity, glamour and charm; yellow with fun and modernity.

However, the traditional belief that red is associated with aggression and romance was not found. The researcher found that it was correlated with feelings of expertise and self-assurance.

She believes this is because of logos that are well-known and already established such as, McDonald's, State Farm and ESPN, so consumers already have consumers have "pre-existing emotions associated with brands using that color."

Branding is important for marketers to get their products in the hands of the consumers. With this information, when thinking of a logo for a company, the color is directly related to the image that the brand has.

There are different thoughts on the colors of logos and their direct meaning, but overall they have similar messages. Brian Honigman talks about a company that exists solely to help create logos. He created this chart to help understand the colors and the attached emotions.

Color is one of the most important aspects of creating a logo, but not the only one. Do you think that color makes a difference in the eyes of consumers?

To read more about the psychology of color and exactly which color evokes each emotion, read this article and find more charts like the one below.
 

#Selfie

Recently the term "selfie" has been gaining more popularity. This is explained by the meme theory. According to the book, a meme theory is "an idea or product that enters the consciousness of people over time."

You may have heard the song #Selfie by The Chainsmokers (if not the video is below), when this song comes on people go crazy and want to take selfies.

Since smart phones have developed a front-facing camera, taking selfies have become easier. People will upload them to social media and #selfie or something similar.

Selfies are taken at almost any type of event, even funerals. President Obama even took a selfie at Nelson Mandela's memorial service. Celebrities and regular people, alike, engage in the activity.

Some people will even take it to extremes. In Spain a man died because he climbed to the top of a train to take a selfie and was electrocuted. One 19 year old boy said that selfies caused him to drop out of school at the age of 15 because he was so addicted. He would spend at least 10 hours a day trying to capture the perfect image. This obsession led him to attempt suicide because he could not take the perfect picture.

A British photographer, David Bailey, says that the selfie craze will die out.

So is this selfie craze just a fad or is it here for a long time? Do some people take it too far?

What's keeping you there?

  I came across an article that was talking about why consumers stay with the same bank, even though

they are unhappy with it. They said it was inertia, and define it as "the dead-weight pull that dampens decisiveness, and masquerades, to anyone foolish enough to interpret it this way, as customer loyalty."

The book describes it as the lack of motivation to consider alternatives. I feel like the bank is similar to many services or products people buy. They will complain about it, say they won't buy it again or wouldn't recommend it, yet they still continue to use the same product or service. Consumers will buy the products out of habit because they have low involvement with the products.

So is it a marketers responsibility to help consumers overcome this inertia and switch products? Tom Markiewicz illustrates how marketers need to give consumers a reason to switch. He uses the example of cable, he says his company is doing just enough to keep him as a customer. Yet, the satellite companies have not made a good enough case for him to go through the hassle of switching.

He also advises that companies answer the following questions when determining their marketing plan: "What aspects of switching to your service does the customer most worry about? Are we really providing value here to the customer? Are we making a good case for our product to overcome this customer inertia?"

I am guilty of staying with a sub-par product because I do not want to look for an alternative. Consumer inertia is an interesting topic and can be hard to overcome for both consumers and marketers.

Saying Goodbye

It is always interesting when someone has such a strong tie to a material object. Cars are always in this category. People name them, call them their "baby" and talk to them. Some people go to great lengths to protect their car. I agree that keeping your car in great condition is essential for making it last.

 

What is more interesting is how people go through divestment rituals when they have to get rid a product, like their car. A divestment ritual, as explained by the book, are the steps people take to distance themselves from an object when they have to sell them or give them away.

There are three rituals the book describes:
- The iconic transfer ritual, where people take pictures with the objects before they sell them.
- The transition-place ritual, putting the items in a location out of the way.
- The ritual cleansing, washing, ironing or wrapping the item.

I understand why people feel like a part of them is being taken away when they have such a connection with an object. Personally, I don't have an extremely strong tie with any of the objects. I do hate throwing things away because I always feel like I will still need it. On the bright side, if you have to throw something away or give it away, you have room for something else!




Sources: Consumer Behavior, Tenth Edition, Michael Solomon

Pressed for Time

Why do we always feel like we don't have enough time? The book called this "time poverty" and explained it as more perception than based on factual evidence. I always feel like I have no time, or less time than I had in previous years. I think I have so much more to do and end up finishing everything in less time than I anticipated. There are more choices of things to do and wanting to do them all makes me feel pressed for time, when in reality I waste so much of my time.

An article from CNN, explains why they believe people feel this time constraint. "One problem is that our time has become more valuable. And as time becomes worth more money, we feel like we have less of it."

They performed an experiment where people were playing as consultants and were told they were going to be paid either $9 or $90. When they were told they were being paid $90, they thought that they were more pressed for time than if they were being paid $9.

This article also explains that people still feel more stressed about time, even when they have "me" time. But, their research found that if people helped others, like shoveling a neighbors driveway, they felt less stressed about their time. This is interesting because I would think after getting a massage, you would feel more relaxed and wouldn't think that helping others would make me feel less stressed about what I had to accomplish.

Products have been coming out to save people time. Such as, the Keurig Coffee pot where you don't have wait for a full pot of coffee. Other things that market their products as time savers have the potential to be very successful, especially when people think they are too busy to accomplish the tasks they need to.

The Price of "Free"

How many times have you gone into a store because you have a "Free" item coupon, but ended up getting more things at that store besides the "Free" item. I just did this recently and spent more than the "Free" item was worth (which I didn't even need and actually didn't really want).

In Predictably Irrational, Dan Ariely says that "Free is one of the most powerful ways to trigger behavior." This is completely true because I probably would not have gone to that store except for the "Free" item that I had to get, just because it was free. It is a way to get customers in the door, where they might actually spend more than they had anticipated.






I am also guilty of putting more in my online shopping cart, just to get the free shipping that would probably be less than the product I just bought. My rationale for this is that, I can buy a product (that I might need), for somewhat of a discount (e.g. the shipping cost). I know it is not a great rationale, but it works for me!

Free is an extremely influential way to get customers to go to a store or buy more items. People tend to go crazy for "Free", myself included.