Date post: | 13-Jan-2017 |
Category: |
Marketing |
Upload: | debanjan-saha-phd |
View: | 175 times |
Download: | 3 times |
Consumer Behaviourinfluencing dimensions of Opinion Leadershipand its preferred usage as a marketing tool over traditional advertisements & promotions in rural markets
Debanjan Saha, Ph.D.
Agenda
IntroductionWhy the TopicConcepts/Theories/PhilosophiesContemporary
Development/ResearchAnalysis/Own ThoughtsSuggestionsConclusionAppendix
Introduction
Budget Exercise
Current Practices in Media Plan
Traditional ATL & Innovative BTL
ROMI Customer Acquisition/Retention
Why the Topic
Rural Markets : Growth Prospects Cost-effective marketing
communications Enhanced conversion from prospects Better Customer Engagement Improved Customer Retention Realize higher Customer Life Time
Value Growth in Volume & Value
Concepts/Theories
Consumer Buying Behaviour – influencers
Culture Society Personal Psychological
Consumer Buying Behaviour – stagesNeed/
Problem Recognition
Info Search Evaluation of Alternatives
Purchase Decision
Post Purchase Evaluation
Concepts/Theories contd.
Dimensions of Opinion Leadership Tremendous Passion Vast updated Knowledge High Innovativeness / risk appetite Desire to share information Good Social Interaction / influence Personality – Distinctiveness, Individuality,
Confidence Enjoys trust and respect of society Advice and Guidance are willingly accepted by
others
Contemporary Research
Topic Author
Opinion Leadership
King & Summers, 1970 Myres & Robertson, 1972Childers, 1986Chan & Misra, 1990
Market MavenFlyn, Goldsmith & Eastman 1996Clark & Goldsmith, 2005
Consumer InnovativenessGoldsmith & Hofacker, 1991Goldsmith & d’Hauteville, 1998
Analysis/Own Thoughts
Traits of Rural Consumers :• High distrust on communication by business
organisations• High levels of skepticism of new offerings• Higher conservatism and lower consumer
innovativeness• Perception of lack of adequate information of
products• Limited access to internet and specialized magazines • Seeking value for money options over novelty
purchases• Higher levels of socializing and shared problem
solving• Culture of moderation and a propensity to save
SuggestionsActivation of Opinion Leadership
1. Activate Info access in vernacular languages2. Targeted Advertisements3. Identify Opinion Leaders (OLs)4. Information Sharing mechanism with OLs5. Engage with OLs: Hands-on field trials/demos 6. Facilitate mass Diffusion of innovations by OLs7. Regular Feedback & feed-forward - OLs
Conclusion
Cost-effective marketing communications
Higher ROMI compared to traditional advertisements and promotions.
Higher customer conversions at lower costs
Better engagement & loyalty
Appendix
Appendix
Appendix - BibliographyArmstrong, Gary M, and Feldman, Laurence P., “Exposure and Sources of Opinion Leaders”, Journal of Advertising Research, Vol. 16, No. 4, Aug 1976, pp. 21-27 Blackwell, R.D., et.al., Consumer behavior.9th ed. Orlando, Harcourt College Publishers, 2001 Chan, K.K. and Misra, S., “Characteristics of the Opinion Leader: A New Dimension”, Journal of Advertising, Vol.19, No. 3, 1990, pp.53-60
Childers, T. L., “Assessment of the psychometric properties of an opinion leadership scale”, Journal of Marketing Research, Vol. 23, 1986, pp. 184–188.
Clark, R. A., & Goldsmith, R. E., “Market mavens: Psychological influences”, Psychology & Marketing, Vol. 22, 2005, pp. 289–312.
Corey, Lawrence G., “People Who Claim to be Opinion Leaders: Identifying Their Characteristics by Self-Report”, Journal of Marketing, Vol. 35, Oct 1971, pp. 48-53.
Appendix - BibliographyFeick, L and L.L. Price, “The market maven: A diffuser of market place information”, Journal of Marketing, Vol. 51 (1), 1987, pp. 83-97
Flynn, L.R., Goldsmith, R.E., & Eastman, J.K., “Opinion leaders and opinion seekers: Two new measurement scales”, Journal of the Academy of Marketing Science, Vol. 24, 1996, pp. 137–147.
Goldsmith, R.E., & d’Hauteville, F., “Theory and measurement of consumer innovativeness”, European Journal of Marketing, Vol. 32, 1998, pp. 340–353.
Goldsmith, R. E., & Hofacker, C. F., “Measuring consumer innovativeness”, Journal of the Academy of Marketing Science, Vol. 19, 1991, pp. 209–221.
Grewal, R., R. Mehta, and F. R. Kardes. “The role of the social identity function of attitudes in consumer innovativeness and opinion leadership”, Journal of Economic Psychology, Vol. 21 (3), 2000, pp. 233–52.
King, C. W., and J. O. Summers, “Overlap of opinion leadership across consumer product categories”, Journal of Marketing Research, Vol. 7 (1), Feb 1970, pp. 43–50.
Appendix - Bibliography
Mancuso, J.R., “Why Not Create Opinion Leaders for New Product Introductions?”, Journal of Marketing, Vol. 33, July 1969, pp. 20-25
Merwe, R.van der and G van Heerden, “Finding and utilizing opinion leaders: Social networks and the power of relationships”, South African Journal of Business Management Vol. 40(3), 2009, pp. 65-76 Myers, James H, and Thomas S Robertson, “Dimensions of Opinion Leadership”, Journal of Marketing Research, Vol. 9, Feb 1972, pp. 41-46. Rogers, Everett, Diffusion of Innovations, New York, The Free Press, 1962.Schiffnam, L.G. and Kanuk, L.L., Consumer Behavior, 6th Ed, New Delhi, Prentice-Hall of India Pvt. Ltd., 1998
Venkatraman, M. P., “Opinion leaders, adopters, and communication adopters: A role analysis”, Psychology & Marketing, Vol. 6, 1989, pp. 51–68.
Thank You