@ brandontalk Consumer Behavior COM 370, Publicity and Media Relations 10/29/2014 Brandon Andrews
Jun 18, 2015
@brandontalk
Consumer Behavior
COM 370, Publicity and Media Relations
10/29/2014
Brandon Andrews
@brandontalk
• Former U.S. Senate staffer • Director: IMPACT • Senior Account Executive: MWW Group• http://brandonandrews.me• @brandontalk
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CONSUMER BEHAVIOR
@brandontalkCONSUMER BEHAVIOR: THE STATS
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Ryan Leslie Soulja Boy
• Perfect 1600 SAT Score.
• Graduated Harvard at 19
with a B.A. in Government.
• Plays 5 instruments.
• Grammy nominated singer,
song writer, and producer.
• Net worth ~$3M.
• Single "Crank That"
reached number one on
the US Billboard Hot 100.
• Earned $7M in 2010,
making Forbes list.
• Debut album certified
platinum (sold 1M).
• Net worth ~$25M
@brandontalkCONSUMER BEHAVIOR: DEFINITION
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The process by
which individuals search for, select,
purchase, use, and dispose
of goods and services,
in satisfaction of their needs and
wants.
@brandontalkCONSUMER BEHAVIOR: MODELS
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Traditional Models
✚ The Economic Model
✚ Learning Model
✚ Psychological Model
✚ The Sociological Model
Contemporary Models
✚ The Howard Sheth
Model of buying
behaviour
✚ The Nicosia Model
✚ The Engle-Kollat-
Blackwell Model
✚ Engle, Blackwell and
Miniard (EBM) Model
✚ Webstar and Wind
Model of organizational
buying behaviour
✚ The Sheth Model of
Industrial buying
@brandontalk
Economic Model
✚ assumes that with limited purchasing power and a set
of needs and tastes, a consumer will allocate his/ her
expenditure over different products at a given prices so
as to maximize utility.
✚ Bases for Economic Model:
- Price Effect
- Substitution Effect
- Income Effect
CONSUMER BEHAVIOR: MODELS - ECONOMIC
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@brandontalk
Learning Model
✚ Promotes association of products with strong drivers
and cues, which lead to positive reinforcement from the
consumers.
✚ Learning’ will help marketers to understand how
consumers learn to respond in new marketing
situations, or how they have learned and responded to
similar situations in the past
✚ As consumers learn to discriminate, this data can be
used to plan future campaigns.
CONSUMER BEHAVIOR: MODELS - LEARNING
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@brandontalk
Psychological Model
✚ Based on the work of psychologists.
✚ Operates off the assumption that human behaviour, to a
great extent, is directed by a complex set of deep
seated motives.
✚ Helps the marketer to know how buyers influenced by
symbolic factors in buying a product.
CONSUMER BEHAVIOR: MODELS - PSYCHOLOGICAL
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@brandontalk
Sociological Model
✚ Assumes individual buyers are influenced by and exact
their influence on society.
✚ Interactions with society play a role in influencing
buying behaviour.
✚ Market segmentation can be employed to identify
common behaviour patterns in groups of buyers.
CONSUMER BEHAVIOR: MODELS - SOCIOLOGICAL
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HOW?!?!?!
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ANALYTICS
@brandontalk
The systematic computational analysis of data or
statistics.
ANALYTICS: DEFINITION
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@brandontalkANALYTICS: THE PROCESS FOR IMPACTFUL RESEARCH
Assess Needs
Align to Objectives
and Outcomes
Frame the Issues
Execute the
Research
Challenge, Review, Revise
and Refine
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Ginni Rometty
CEO, IBM
What you will see with rapid data and social sharing is the death of the average and the era of you.
Businesses will be able to truly serve the individual.
@brandontalk
Exploratory Descriptive Evaluative Prescriptive Predictive Provocative
ANALYTICS: PR RESEARCH
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PR and Content Value
@brandontalk
• Surveys
• Social Insights
• Data Mining
• Secondary Reviews
• Content Evaluation
• Creatively….
ANALYTICS: HOW WE RESEARCH
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@brandontalk
• Artists do not own their data.
• Artists do not know which fans and customers are the
most engaged and passionate.
• Music merchants and retailers don't share customer
details in transactions.
• Artists are reliant on the relevance of social media
networks and access in order to maintain connections
with their fans.
• When sites like MySpace lose momentum, they also
strip artists of whatever momentum they may have built
on the site.
ANALYTICS: MUSIC INDUSTRY PROBLEMS
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@brandontalk
Disruptive Multimedia (DMM)
• Facilitates eCommerce transactions.
• Manages data through an enterprise CRM.
• Comprehensive messaging.
• Artists and fans access all DMM from their mobile device.
• Artists using the platform own their data.
ANALYTICS: SOLUTION
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@brandontalkANALYTICS: #RENEGADES CLUB STATS
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ACTIVE USER COUNT
• 10,800
ENGAGEMENT RATES
• Delivery Rate: 100%
• Open Rate: 85%
• Clickthrough Rate: 65%
REVENUE GENERATE
• $255,000
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Questions?