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Motivation and Values

Motivation and Values. A presentation by: Craig Heninger Hadi Panahi Michael Giulietti. What motivates you to buy specific products or services— Needs and Wants. Advertising Age did a study (Carmichael 2011) . 1000 people, 40 products and services Using the following categories:

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Motivation and Values

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  1. Motivation and Values A presentation by: Craig Heninger HadiPanahi Michael Giulietti

  2. What motivates you to buy specific products or services—Needs and Wants • Advertising Age did a study (Carmichael 2011). • 1000 people, 40 products and services • Using the following categories: • I need the product or service • I want this product or service • I have this product or service and CAN’T live Without it • I have this product or service and I CAN live Without it

  3. Which of these do you consider a “Need”?

  4. Respondents of survey -- consider as a “Need”

  5. Motivation and Values • What motivates people? • Different for each individual (needs and wants) • Different by culture • Different over time—for example over the past decade (Carmichael 2011) • Demand for broadband has doubled • Spending for apparel decreased by 30% • Spending for transportation decreased by 22% • What about values? • Individuals have their own set of values • Individuals tend to migrate to those who have similar values

  6. Do Marketers Get Into Your Head? • Consumers stated that they were keeping a close eye on their 2011 budget (Zmuda 2011). • 80% spent more than they expected on Black Friday. • How do you explain the record-breaking post Thanksgiving sales? • It appears that marketers landed the right message.

  7. Holiday Marketing Message Over Time • 2008—Consumers gravitated toward nostalgic, heartwarming holiday messages such as Macy's "Believe" campaign • 2009—Price and promotion (KMART Lay-away) • 2010—Quirky, whimsical advertising (Target 2-day sale) • 2011—We give you the comfort of giving a great gift without spending too much and the joy of the hunt to find it (Kohl’s shop smart/get best deal)

  8. Gatorade—A case study • Marketers use the wants, needs, and values of potential customers to draw market share from others (Zmunda 2012) • Gatorade found: • High school and college athletes spend more on gear and less on food • Fast food diets • Estimated that 23M teens spend 100B annually • 34% on clothing and shoes • Less than 17% on food

  9. Gatorade continued • Gatorade: Trying to move from a want to a need • After seeing the Gatorade ad, which one is more important: gear or what you eat/drink?

  10. Conclusion • Next time you make a purchase • Think about what motivates you to do so • Need/ Want • Values • Remember: Marketers are trying to move a product from a “want” to a “need” and keep it from slipping back into a “could live without”.

  11. Questions • Consider your wants and needs over the last 3 years; Have specific ad campaigns helped move a want to a need? • How might Gatorade’s ad campaign fail to generate consumer motivation?

  12. Sources • CARMICHAEL, M. (2011, November 14). New necessities: What consumers can't live without; despite recession, products and services manage to move up the need-want continuum. Advertising Age, 82(41), 6. Retrieved from http://adage.com/article/special-report-american-consumer-project/necessities-consumers-live/230981/ • Zmuda, N. (2011). How marketers get inside your head to get you to stuff your stockings. Advertising Age, 82(43), 2-18. Retrieved from http://adage.com/article/news/seasonal-psychology-stocking-stuffing/231361/ • ZMUDA, N. (2012). Gatorade's new selling point: We're necessary performance gear. Advertising Age, 83(1), 2. Retrieved from http://adage.com/article/news/gatorade-s-performance-gear/231858/

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