Skript2 Customer Insights

• cultural factors: national culture, subculture, corporate culture, generation culture

• social factors: reference groups, family, friends, social roles, status

• personal factors: age, job, personality, lifestyle, values

Marketing means developing measures that address the target group (stimuli) and hope that a certain response comes back (like and purchase)

• The two approaches:

  • Neuromarketing

  • Customer Analytics

• to give a better understanding of the customers mindset

• interdisciplinary science integrating neuroscience, behavioral science and psychology

• Objective is to gain insight into customers motivations, preferences and decisions, which can help inform creative advertising, product development, pricing, and other marketing areas

• cognitive-rational info processing (rational, logic, analytical, structure, planing, control, figures, language, details)

• affective-emotional info-processing (emotional, creative, empathy, instinct, images, colors, smell, taste, haptics, acoustics, music, art)

• result in customers attitude, his purchase probability and his decision

• Data analytics for marketing

• analysing customer data material statistically

• identify behavior patterns that enable industry to forecast how customers will behave when interacting with brands, advertising, pricing and other marketing measurements

• focussed on responses (peoples behavior)

Example: e-commerce zB Amazon

• all data material is shared across the entire organization and processed by AI

• tracks purchasing behavior for making an assumption about us: proposals, product offers

• display of most relevant products the customer may need

• implements dynamic pricing

Individual motives/communication

• adventures (seeking excitement, wanting to try new things)

• stimulation (new restaurants, trying out new things)

• pleasure

social interaction/survival

• dominance

• security (dont like risk taking or surprises, stick to plans zB life insurance)

• control (zB termine)

focus on signals/stimuli that mainly adress affective-emotional perception and information processing

• cultural factors (national culture, subculture, corporate culture, social class/generation culture)

• social factors (reference groups, family, social roles/status)

• personal factors (age, life phase, job, economic status, personality, lifestyle, values)

• marketing means developing measures that address the target group (stimuli) and hope for a certain response (like and purchase)

  • customers mindset consists of human nature and individual characteristics, which are targeted by neuromarekting

  • Customers responses on the purchase decision are analysed by customer analytics