Rethinking consumption
10-1-18
Our focus this time is mostly about understanding consumer behavior. Consumer behavior relates to the decisions or actions during the purchase-making process. Knowing how your consumer behaves is critical for marketing. For example, if someone is looking at something that cost less than $50, price would be the main concern. Similarly, if someone is buying something that costs more than $50, such as Michael Kors bag, then quality would be the main concern. Before the lecture started, my professor introduced us some news about the co-founders of Instagram decided to step down from the company. Privacy concerns and issues after Facebook took over caused the cofounders of Instagram to leave and not wanting to work for the company anymore.
Social media today has influence consumers’ decision to making purchases. For price, one can always find lower deals at e-commerce sites or discounts through other platforms. Distibution also matters. For example, the brand Supreme only release once in awhile, and it is only announced through their social media. Therefore, if customers want to know what Supreme is going to release next, they would have to stay on top of their social media. In addition,some other products like toilet paper are more likely to be seen on traditional media (television or coupons in the mail).