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Brain Storming Market Strategy (Human Personality and percepton matters)Sweta Leena panda FMS/MBA/2015-17/000308
Idea Built
upProcess
Concepts on different
personality theories
Analyse it based on consumer behaviour
Market strategy on
different industry
1Classificasion
Compliant Detached
Aggressive
Neo Freud
ian Theor
y
Attributes –Good , sympathtic , loving , unselfish, humble , overconsiderate , apologestic , weakness , dependence Desire –To be loved , wanted , appricated ,needed , helped , guided , protected , Dislike – Egotism , aggression , conflict , assertiveness , power seeking
Conclusion – systamatic , precise , Hyper efficient and Technical Product - Iphone 5s This product fulfill the individual’s desire to be wanted and appreciated
Attributes – Strength , power , unemotional realism , manipulates others for gaining power , cynical , exhibitionistic Desire –To excel , achieve success , prestige , admiration , to be superior straight , to control emotion and fears
Conclusion – bing boss , competing with confidence , adventurous , competative in sportsProduct – TVS Apache RTRTagline (Not for weak heart –scarily fast)
Attributes –Non conforming , emotionally distant from others , untrustful Desire – Freedom from obligation , being unique , independent , reasoining , self sufficency , intellegence Dislike – Being influenced by others , sharing experience , conformity , showing feelings
Conclusion – promote their self independence.Product – Cadbury Diary milk (Khene walo ko jhane ka bhana chahiya)
Complaint Aggressive Detached
UNDERSTAND YOUR CUSTOMER
⊙ People should share opinion before any purchase
⊙ Getting benefit by consulting with friends
⊙ Talking prior to purchase
⊙ Moving towards others prior to any purchase
⊙ People appreciate my own purchasing
⊙ Perfect at purchasing
⊙ Purchase based on own evaluation
⊙ Hardly belief other’s opinion before purchase
⊙ Talking with others as time killing
⊙ Products and prestige
⊙ Purchase appreciated by others
⊙ Purchasing luxurious products
⊙ Purchase based on emotion
⊙ Counterparts as competitors
Complaint Aggressive Detached
Product deisgn strategy –Innovative , luxurious , classic , experienced , honest,
Product examples – Nokia , Toyota , Nike
Product deisgn strategy –Innovative , High quality , fast , strong , high quality , high tech , progressive , smart , elegent , bold
Product examples – Rolex , Ford, IBM , Bulgari, Adidas, Volkswagen
Product deisgn strategy –Luxurious , emotional , comfortable , self-centred ,
Product examples – Prada , sony , motorola , Mercedes benz
Big 5Person
ality Trait
Extraverts are social, enthusiastic, talkative and assertive. In general, they tend to take on more risk in order to fulfill their need for excitement.
Advantage: They tend to have a higher risk tolerance, which can mean potentially higher returns.
Disadvantage: They may take on too much risk and lose money.
Agreeableness- Those high in agreeableness are trusting, altruistic and optimistic. They need to get along with other individuals.
Advantage: They are cooperative when working with advisers on their portfolio.
Disadvantage: They do not like to offend others and may be hesitant to raise any red flags that they see.
Conscientiousness persons are thorough, careful and diligent. They have the ability to delay immediate gratification in favour of long-term goals..
Advantage: Long-term investors can be patient and restrain themselves from impulsive risk-taking.
Disadvantage: They are too risk-averse.
Neurotic individuals are emotionally unstable. They are prone to psychological distress including depression, anxiety and anger.
Advantage: They are drawn to risk because of its emotional appeal, and similar to the extravert advantage, higher risk tolerance can potentially equal higher returns.
Disadvantage:They are impulsive; therefore, they are prone to making emotional financial decisions.
Openness -Individuals high in openness to experience/intellect are imaginative, curious and open to new ideas. They actively seek new experiences. This trait is highly correlated to intelligence.
There is no advantage or disadvantage listed because openness to experience/intellect is the least studied of all the traits.
There is no advantage or disadvantage listed because openness to experience/intellect is the least studied of all the traits.
Extraversion
Need for Evaluate
Conscientiousness
Openness
Agreeableness Need for Material
Resources
Need for Arousal
Intention to shop
Cognitive involvement
Affective involvement
Neurotic Need for Cognition
UNDERSTAND YOUR CUSTOMER
Extraverts Conscientiousness Agreeableness Openness to experience
Extraverts Conscientiousness Agreeableness Openness to experience
Extraverts Conscientiousness Openness to experience Agreeableness
Impulsive buyers Compulsive buyingFinancially
unconscious people while buying
Extraverts Agreeableness Openness to experience Conscientiousness
Extraverts Agreeableness Conscientiousness Openness to experience
Extraverts Agreeableness Openness to experience Conscientiousness
Free product /sales promotion/discount
Buying over looks of cover or packaging Brand conscious
30 PERSONALITY TYPES
CD CA DA
NE CDNE CANE DANE
NO CDNO CANO DANO
NA CDNA CANA DANA
NC CDNC CANC DANC
EO CDEO CAEO DAEO
EA CDEA CAEA DAEA
EC CDEC CAEC DAEC
OA CDOA CAOA DAOA
OC CDOC CAOC DAOC
AC CDAC CAAC DAAC
Neo Freudian Theory
5
BIG
PERSONALITY
Combination of Neo Freudian and Big 5 Personality Traits
Understand your
customer Analyse
the market
Marketing Mix
Analyse the
competition
Research Distributio
n
Review and
Revise
Consumer
Behaviour
Personal Characteristi
c
Product Characteristi
c
Consumption situation
Marketing Strategy
Consumer behaviour is product – person - situation specific
FACTORS AFFECTING BUYING BEHAVIO
UR
EQAge Occupation Gender Income
Product Design
Brand consciou
s
Person’s desire
Motivation
Internal factors
Promotions
Social norms
External factors
Cultural values
30 different personality
traits
Diversified
Product Mix
company
Our TotalProduct
Competitors Total
Product
Superior
Value expect
ed
Consumer
Decision
process
sales Customersatisfaction
Perceived
value deliver
ed
1. Fast Food Lovers
2. Textile Lovers
4. Fancy item Lovers
3. High technology
Lovers
SSU Family Consumer Behaviour
Target
Promotion
Value over price
All, specially target to kids and young people .
Music videos and movies as well as social networking sites like Facebook (Mainly)
Two-for-one coupons, combination meals with free drinks or side orders and senior discounts affordable prices
Health conscious
Fresh, low-calorie menu options geared toward health-conscious consumers. Fast food companies use social responsibility marketing to convince consumers they can buy their convenient and affordable products without compromising their values.
Location local outlets, chains with easy service options and a fast
ordering system.
Extroversion Conscientiousness
Detached
1
Coffee lovers and examined common personality styles and psychological traits, looking specifically at introversion and extroversion, patience, perfectionism, warmth, vigilance, sensitivity and social boldness.
Chocolate Ice Cream -You lead a life of joy and self-loveStrawberry Ice Cream-Your friends would describe you as fiercely loyal and energeticCoffee Ice Cream-You're an introvert who is often found reading in coffee shops alone.
2
Personality
Good quality Reasonable price
Suiting the personality Convenient to wear
Cultural and
personal factors
Life style
Occupation
Motivation perception learning
Brand name
Textilename
TextileAttribute
Objective Price
Consumer Involvement
Shopping Oriented
Fashion Innovation
Benefits Sought
Consumer Demographic
Perception of Brand name
Perception of Store name
Perception of Textile attribute
Perception of price
Perceived quality
Perceived Sacrifice
Perceived Value
Willingness to buy
AggressiveExtraverts Agreeableness