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This report reviews research and theory on human memory, emphasizing key findings and concepts of importance to consumer choice. Due to time constraint, only limited numbers of persons are contacted.
Executive summary ................................ ................................ ................................ ................................ ..... 1
Introduction: ................................ ................................ ................................ ................................ ............... 3
Hypothesis ................................ ................................ ................................ ................................ .................... 3
Procedures / Methodology ................................ ................................ ................................ .......................... 4
Results / Analysis and findings ................................ ................................ ................................ .................. 4
Conclusion an Marketing Implications ................................ ................................ ................................ ..... 9
Limitation and possible follow ups ................................ ................................ ................................ .......... 10
References. ................................ ................................ ................................ ................................ ................. 11
Without understanding how memory works it will not be possible to fully appreciate how consumers reason, make decisions and solve problems, since most consumer decisions are dependent on memory" (Jansson -Boyd, 2010).
Memory is "An active mental system that receives, stores, organises, alters and recovers information" (Baddeley, 1990) . Consumer memory refers to the processes that allow us to record and later retrieve experiences and information related to products, services, and consumption experiences. Consumer memory can be represented as an associative network or a massive network of associated ideas and concepts. Memory processes are important because consumers act based on cognitions, which are stored in memory and influence how incoming stimuli are interpreted.
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The challenge for marketers is to have consumers remember your name and brand in preference tothose of competitors .
Memory plays a major role in consumer choice. The specific inferences drawn by customers from product stimuli, advertising, word of mouth and other sources of product -related information are heavily dependent upon what data are in the memory and how they are organized. Memory refers to a consumer's ability to understand the marketing messages and assign them value and meaning.
Value and meaning always together. The value and meaning assigned is largely determined by internal factors, (thoughts, feelings, emotion, attitude, perception, motivation, personality and life style.) Which are different for each consumer.
The purpose of this study is to evaluate and understand the recall and memory of consumers.
What are the variables that affect their recall function and how this affects their buying behavior? This study also will help to understand the implications of memory and recall in marketing strategies of the products of 3S Supermarket.
1. Consumer has a strong memory while buying durable goods
2. Customers mood have an impact on purchasing decision.
3. Packaging and branding will have a huge effect on consumer perception.
4. Women remember the prices of the products more than men do .
To do this research I observed the behavior of total 10 people of different age group, while they were shopping. I accompanied these peo ple while they went to shopping at 3S supermarket. I made sure that they do not know that I was monitoring, predicting and understanding the behavior of them. I observe d how and what factors they were considering before taking the decision. In addition, to do this research I conducted a qualitative research. I went to shopping atdifferent time with different people. For this research, I took five women's and five men's.
For each one it took around 15 minutes. After they finished shopping I asked some question regarding the prices. Before that, I asked the actual receipt from the shopkeeper so that I will know the actual price easily.
The age groups which was taken to conduct this research is ages between 18 -25 , 25 -35, 35 -45 , 45 -55 and 55 -65.
After the researches which I have done I get to know that even a couple of seconds after they pick a product from the shelves most of the consumers are unable to recall its correct price. Below there are analyzes of the some questions which I have asked from the consumers.
1. Which type of products does you remember the prices?
As per as the result of the survey it shows that 60% of the people who have participated in this survey remembers the prices of durable goods and 40% of people remembers the prices of non -durable goods.
60%
40%
0%
Goods
Bought buy consumers durable goods
Non-durable goods
Therefore, as per this result it shows that most of the consumers remember the prices of durable goods rather than their daily basis products. This low recall level may be due to a lack of attention and motivation by the consumer or the distraction n the store environment.
Durables have an extended product life and are not typically worn out or consumed quickly when you use them. Since they are made to last, durable goods are often times more expensive than non -durable goods that have to be purchased repeatedly over a short period of time. Durables goods are expensive and when they have to spe nd more at a time they says that they do remember the prices most of the time. For example, if we spend more amount of money at one moment it will stick to our mind. Refrigerator , TV and other expensive goods prices will be memorized easily.
2. Does your mood plays the important role while shopping?
While observing the customer does, I got to know that customer's mood have an impact on purchasing decision. A person's mood or physiological condition at the time of purchase can have a major impact on what is bought and can affect how products are evaluated. A specific mood is some combination of pleasure and arousal. In general, a mood state biases judgments of products and services in that direction. Simply consumers like things much better when they are in a good mood.
Consumer's mood can be changed with music in shopping environment also. Moods can be affected by store design, the weather of other factors specific to the consumer.
In addition, music and television programming can affect mood; this has important consequences for commercials. When consumers hear happy music or Watch happy programs they have more positive reactions to the commercials and products especially when marketing appeals are aimed at arousing emotional reactions.
90%
10%
Role of mood
yes
No
The result shown in the pie chat shows that 90% of people says that their mood plays an important role while purchasing the good. When their mood is happy while they are purchasing something, they do remember the prices. 10% of people say that mood does not play any role while purchasing.
3. When you see an advertisement how much does it effect to your memory while purchasing that product?
Most of the time consumers buying behavior depends on liking or disliking of consumer towards the advertisement of the product advertised. A good quality advertisement is likely to influence consumers into buying that product while a poor quality advertisement will do the opposite.
A good quality advertisement plays a very importa nt role to remember the prices.
People who are busy at their lives they may not remember the prices of the things that they buy. However, when they see a quality advertisement that will stick to their mind and will remember easily.
From the survey, 30% of the people say that advertisement does not help them. However, 70% of people say that advertisement does help them to memorize the prizes of the products. In addition, they say that especially the quality advertisements are useful for their lives. A quality advertisement is enough to change your believes regarding a product which you dislike before.
4. Does Branding and packaging help you to memorize the prizes of the product?
70%
30%
Advertisement effectiveness
effect
not effect
The primary purpose of packaging is to protect the product, but companies can use packaging as an instrument for promoting their marketing offer, and for boostingtheir sales. A good packaging helps to identify and differentiate products to the consumers.
Packaging is used for easily delivery and safety purpose. Packaging helps companies differentiate the product from other brand.
Customers are drawn more than anything , to products that look good. Something that is well designed and interesting is bound to attract more potential customers than a product that is poorly designed and looks bland. This is the importance of packaging design. It is, after all, the key part in marketing a product and ensuring it sells. It is also the key part in associating a brand to a certain thing whether it a color or a font. What that means, essentially, is that customers that are drawn to a package are bound to remember it later down the road before coming back to the product.
When someone talks about a brand that you want to buy. Obviously, you will search the information you need. The best example we can take is "Apple brand". Whenever a person say apple brand your mind will signal you that it is a quality product. We do remember the prizes of branded and quality products.
This pie chart shows the result that say 60% of the people who participated in the survey says that the packaging and the branding does affect their memory. The quality branding and packaging plays important role in their mind to remember the product prices.
However, 40% of people say that it does not affect their mind. When the packaging is colorful, also it will attract the customer's attention easily. This 60% of people says that branding and the information that was included in the package is very important to them.
60%
40%
Memorizing the brand name and prizes
yes
No
Because whenever they want to remember the product prize, the colorful packaging and the good brand will help.
5. When did you mostly remember the prizes?
Most of the customers say that they do remember the prices when they are short of money. The lesser amount of money they have they remember the prices. At the end of the month mostly everyone will have less amount of money, so that they will remember the prizes of each product they buy. When they have enough money to buy the products which they need they does not concern more about the prize.
Females go for shopping more than males. Therefore females do remember the prices of products more than males. Mostly every house males does buy durable goods like refrigerator, Air conditioner, TV etc. so they remember the prices of those goods more than women's .
From the survey, which I conducted, I got to know that men's long term memory is higher than women's. However, female's short -term memory is much higher than men's.
Because they do shop for household chores every day. Females have strong memory when it comes to house hold items and cooking item. They remember the prizes of vegetables, fruits, meat etc...
Different age has different level of memorizing power.
How do you, as a marketer, ensure that you are doing everything that you can to reach your customers? You first must understand how the consumer makes their choices.
This requires an understanding of the consumer decision -making process model . The consumer makes both rational and emotional choices when they are shopping, but that is not their entire decision -making process. To truly understand how to market, you must have a firm understanding of where your consumer has thought process lies. Your marketing materials, therefore, should represent not just the basic steps of consumer choices, but play to your target demographics' thought process.
A company marketing its products constantly strives to make the consumers form a positive and favorable perception about the company and its products. For this the stimuli sent out by the company through its messages, the branding, packaging, advertisements and the very products themselves should stand out. They should be designed to be noticeable among the din of other stimuli. Some plans to make the stimuli stand out are:
1. By contrasting
Inviting attention to an advertisement by employing contrast with the surrounding in size, color, or style is common. Printing a teasing massage or using different symbols and languages printing a message, which will suit in this category.
2. By Motivating:
By a proper design of the messages, the promoter can catch the eye of the individual who are disappointed with a specific circumstance. Their view of the reason for disappointment can be shaped and a positive discernment about the arrangement made . For example, we can take toothpaste. Some people have sensitive gum and teeth. Looking to the circumstances, we can prefer good toothpaste, which is made for sensitive tooth. This will help the person as well as the disappointment of the person will
How do you, as a marketer, ensure that you are doing everything that you can to reach your customers? You first must understand how the consumer makes their choices. This requires an understanding of the consumer decision -making process model.
To conduct this survey I have faced some limitations. First thing is that it is difficult to choose a person to go for shopping. In addition, due to the busy schedule of everyone it is very difficult to get time. When I was ready, the one who wants go for shopping will be busy. The timing did not match.
I have chosen different age groups for the survey and it was difficult to get different ages people.
To conduct this survey I have selected consumers from only one shop. In addition, only 10 customers conducted it. To get the perception and the behavior again product of consumers it is better to do with more customers with different supermarket rather than one supermarket.
Consumer Behaviour Price & Memory. (2019, Nov 22). Retrieved from https://studymoose.com/consumer-behaviour-updated-example-essay
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