What is consumer purchase behavior?
Consumer purchase behavior, also known as “consumer buying behavior,” is the study of consumers’ collective attitudes, intentions, preferences, and decisions when purchasing a product or service in the marketplace.*
In an effort to showcase how consumer purchase behavior can impact your marketing, last week we polled our Facebook followers and asked them the following survey question:
(Feel free to provide your answer if you haven’t already)
Here are the results from our survey explained in a 1 minute video:
These survey results (as of 2/16) are a great example of the irrational decisions we make.
But how do we arrive at these irrational decisions?
This image highlights the area known as the prefrontal cortex, which is where decision making happens.
This area of your brain, right behind your frontal bone (your forehead), is what fires and says that the clear mouthwash doesn’t feel right.
This is where a lot of consumer purchases are won and lost.
Roy H. Williams says, “The object of advertising is to influence the prefrontal cortex.”
He simplifies this further when he says, “Win the heart and the mind will follow.”
Here’s an example of this in action:
No one will tell you they bought a Mac because of the positive emotions they attached to the brand.
Yet Apple spends millions of dollars to attach warm fuzzies to their brand so they can influence your prefrontal cortex.
The marketing rub
Hypothetically speaking… let’s say we’re launching a cell phone company. Luck has it that we could easily poll and analyze data from everyone who bought an iPhone in the last year.
We ask them what cellphone features are important and why they chose the iPhone.
From this data, you put together a superior technical product and then build a marketing strategy around the results of the iPhone customer surveys.
The Samsung Galaxy 6 has a better camera and sharper screen when compared to the iPhone 6.
These are the types of features that people say matter to them.
You should win the market based on giving consumers what they want, right?
The problem is that Samsung doesn’t have the brand name that Apple has established.
No one will tell you they bought an iPhone because they have a warm fuzzy feeling about the Apple brand… even if that played a large role in their decision.
No one will tell you they bought the mouthwash because it had the appropriate amount of Green No. 3 dye in it.
It seems logical to just ask what people want and then build your marketing around those desires.
Just be careful because even we don’t consciously know why we choose one product or service over another.
Instead, figure out what is uniquely true about your brand.
Understand the driving forces behind why your brand exists and tell that story.
The right people (your people) will love you for it.
*credit – study.com
Brain Map – Wizard of Ads