Marketing Blog

Recently, I have noticed that companies are tackling their consumer's issues, rather than avoiding or not responding to the questions. You may have seen the McDonald adverts that interview people on the street, and answering all questions posed to them. I think this is a bold move, especially with the risks involved. However, in saying this it also shows that companies like this are more "open" and have nothing to hide - bring back the transparency of their products or service. In relation to marketing, it confronts the issue of social risk head on. The link here: yourquestions.mcdonalds.com.au , allows anyone to ask a questions, and have it answered. This blogging/forum - if you say, is probably targeting the mass "myths" and "rumours" that have been formed around McDonald's for years. Undeniably, this is a bold move! I also saw Carefree ad using the same  idea - targeting customer's fears in the advert to reassure potential custo...

Marketer's need to reduce risks in every industry. Whether it is online advertising or service marketing, these 6 perceived risks are always a factor when purchasing or using a service. Depending on which industry, some can be more than others, and some may have a lesser relevant. Marketer's all appreciate the relationship between price, benefits and quality; they all are a measurement of value.  Once you identify what the risks are for your product or service, it is a good idea to try and reduce the implications of your risks.  Functional Risks Functional risks relate to the performance of the product. Does your product or service deliver what it says it will? Honesty is the best policy! It's not just a saying- it actually will help you retain your customers and increase satisfaction. For example, you are dry cleaning service, even though you might Financial Risk Financial risks are monetary loss. In terms of perception, when you pay more, you expect m...

The Consumer Decision Process, or the 5 Stages of the Buyer's Decision Process is the cycle a consumer goes through when they purchase a product or service. The process has 5 main steps: Problem Recognition Information Search Evaluation & Selection Store Choice & Purchase Post Purchase Processes  1. Problem Recognition   In this stage, a consumer realises they need a product or service to solve their problem. In psychology this can be separated between a need or want. This classification is based on your biological needs, for example; if you feel thirsty you need a drink. Whereas you need a car to drive around, but you want a Lexus due to the brand name and quality associated with it. 2. Information Search   After a consumer has recognised they have an problem, they seek information on where they can find a solution to their problem. They can conduct an internal search , which means they use information from their ...