Written by: Tanya Gupta | Vidwaan Voyager 2020 | B.Com (Hons.)/ PGDM General | Chetana’s Institute of Management and Research, Mumbai
The blog talks of how consumers need to be our epicentre beforehand while framing our marketing policies.
Who is a consumer? A consumer is a person who consumes goods and services as per their requirements. A Consumer is deemed to be the kingpin of the market. In a way, set of consumers behave the same way and share the same buying demeanour.
Indian population has got the maximum number of millennial folks out there which makes our majority audience fall in the category of ‘Youth’. Marketing a product appropriately means to make the offering a proper fit for the set of audience you are aiming for, along with an aim of facilitating more benefits than the entire costs. Therefore, I am penning down the ways on how I would like a particular firm to market the products/ services to me:
Unique taste/ flavour
The taste should sit on my taste buds like nothing else as far as Consumable Goods are concerned. A consumer gets ready to pay that extra premium if the taste has got its uniqueness and novice trait. The unique taste is then accompanied by the superior quality as well which it tends to deliver. A brand should be able to mark a presence in my mind by delivering taste as its USP.
It is one of the 4As which is of utmost importance in the Marketing. Further, it consists of economic affordability and psychological affordability. As a consumer, I need to have sufficient funds in my pocket. Furthermore, I need to be mentally accepting the offering which is being offered to me so that I would be contented in terms of where I shelled out my money. This ‘A’ fluctuates with the category of income levels one belongs to. As a student, my expenditure will be in a limited space.
Attractive and Informative packaging
Packaging plays a pivotal role as far as the sales is concerned. It forms the very first expression for the consumers. Providing necessary information on the label deems to be very fruitful for the consumers who look for details prior to any purchases. For example, many skin related cosmetics consists of paraben which is harmful for the skin. Considering this, an aware consumer like me would check the label before making any such purchases. Purchasing a product/ service on the basis of just packaging is not my cup of tea. There has to have other factors in mind as well.
How sanitizers have started flooding the markets post the spread of this pandemic? A consumer like me seeks assurance/ a sense of security which the product claims to offer me as an entire bundle of offering. For example, Petroleum Jelly which is being used to cure the chapped lips; the brand I will procure will facilitate the maximum safety to my chapped lips thereby, giving me assurance of safely healing my lips without any other side- effects. Similarly, use of a sanitizer should guarantee maximum assurance to keep the deadly virus at bay.
It is a human tendency to look for varieties before making the final purchases. A consumer opts for variety so that the final purchase is kept contented in terms of the sum so shelled out. I cannot make a purchase before indulging in the acts of variation looking stuff. I would like to site the example of my own business that is, the retail clothing shop. The consumers keep on looking for the variety of dress materials before hitting the final buy button.
Fragrance is an important trait in many of the product lines. A decent fragrance/ smell woo every consumer to give that offering a shot with the probability of converting the sceptical consumer into a sure shot lead. For example, a consumer purchasing a perfume or a deodorant will be attracted to the more good smelling mists as compared to the lesser ones.
Value for money/ ROI
Every consumer in today’s world seeks value for money. The total benefits that the consumers derive should exceed the total cost. Purchasing a product should make sure that I am able to yield more benefits than what I am supposed to shell out thereby making the buying act fecund enough to indulge in it. I consider the purchasing act as an investment for which I seek fecund returns.
Returns and Exchanges
The returns and exchanges are the two elements that form a significant part in the buying journey of the consumers. This is quite a constructive thing that a firm can do to lure its consumers. I find it very attractive to have return policy in store for me as I will get my offerings returned in case, I commit a mistake while making a purchase. Exchanging an offering gives consumer a flexibility to attain the maximum satisfaction.
Giving back to the society
As an aware consumer I want my bit contributed towards the welfare of the society. Therefore, I want my brand to facilitate this type of offering so as to make my contribution. It has got mandatory in today’s era to invest in the CSR activity.
Digital Engagements in the pandemic times have become a new norm. Most of the brick and mortar businesses have resorted to this new norm. The brands can engage magnanimous bunch of folks on digital platforms out there like nowhere else. (https://brandequity.economictimes.indiatimes.com/news/marketing/customer-management-and-the-new-normal/75935406). I am a digitally active person and would like to have the offerings communicated via digital way.
This is how I expect my brand to market the product/ services to be delivered to me because these are the things I take into consideration while indulging in the acts of purchase.