Consumer awareness
Consumer awareness refers to the awareness of goods consumption formed by consumers in the long-term shopping environment and purchasing activities. [1][2]
Overview
In recent years, with the rapid development of the market economy and the continuous improvement of people's consumption levels, consumers' awareness has become increasingly complex. [2] However, in various marketing activities, commodities have always been the object and carrier of consumers' shopping activities, and are an important basis for consumer awareness. [3]
Change of market situation
The changing market situation is the objective background for the formation of consumer awareness. Market conditions play an objective role in the formation and change of consumer awareness. [4]In the early stage, due to the influence of the planned economy, the shortage of social goods, the market situation was a seller's market. People's consumption consciousness was very poor and monotonous, and their buying consciousness was unclear; consumer psychology was not mature. [5]
With the rapid development of the commodity economy and the increasingly perfect market, the market situation has shifted to a buyer's market. People's consumption psychology has gradually stabilized, and consumer awareness has matured. [6]People began to have their own ideas and concepts in consumption, and diversified consumer awareness emerged, such as differential consumption, rational consumption, and perceptual consumption. [7] At the same time, in this market situation, non-compensatory consumer awareness has gradually formed. This is also a major breakthrough compared with the previous compensatory consumption consciousness. [8]Previously, due to low incomes, even though the variety, specifications, and styles of goods were poor, people would buy goods if the price was low, subjectively believing that the economic advantage of a lower price could compensate for the disadvantage of external factors. [9]Now, many consumers require certain thresholds in terms of price, quality, design, etc., and the various attributes cannot be compensated for. [10]If one attribute is not satisfactory, the purchase will be abandoned. Based on this, in the process of opening up the market, companies are paying more and more attention to the various psychological changes of consumers, and are developing products from the perspective of market needs to meet consumer desires. [3]
Change of life concept
The change of life concept is the subjective factor for the change of consumer awareness. As people's living standards and incomes continue to increase, people's life concepts are constantly changing. [4]At the same time, as the world's population ages, the concept of life for the elderly is also changing. The current elderly are different from the elderly in traditional economic conditions, and they have a new pursuit of quality of life. Therefore, elderly fitness, entertainment, tourism, and marriage consumer activities are prevalent. [5]
In addition, with the continuous improvement of human science and culture, more and more people are paying more attention to major social issues such as the global environment and human survival. [7]Therefore, green products such as fluorine-free refrigerators and non-radiative mobile phones have become popular shopping choices. These fully reflect the important influence of life concepts on people's consumption psychology. [8]
Differences in consumer personality
Differences in consumer personality are the internal motivations for changes in consumer awareness. Due to differences in people's physical qualities, life backgrounds, education levels, economic statuses, etc., each consumer's performance in terms of personality, temperament, and other personality psychology is very different. Consequently, consumers' awareness and behavior also exhibit personality characteristics. [1] The same commodity, some people may find it attractive, while others do not.
At the same time, with the advent of the new economic era, people's consumer psychology shows a complex and ever-changing trend. In shopping activities, some people display a fresh and fashionable pursuit; some pursue famous brands and trust renowned names; others pursue the aesthetic value of goods, thus forming a psychological pursuit of beauty. There are always differences in the consumption behavior of any two consumers. [6] Especially in today's rich commodities and diversified consumption, the individualized awareness of consumers is more adequately displayed and realized in their purchasing behavior. [8]
Intensified market competition
Intensified market competition is a catalyst for changes in consumer awareness. With the changes in market conditions, market competition is intensifying. Many companies have launched their own branded products to gain a foothold in an increasingly competitive market. [3] In the face of a variety of goods and brands, consumers' brand awareness matures. When people buy goods, paying attention to the brand has become a trend. Faced with the intense competition, companies began to realize the importance of brand strategy, and began to focus on market research to deeply understand consumers' psychological pulse in order to improve market share and brand loyalty. [11]
New consumers characteristics
In the 21st century, the global economic situation is more unpredictable, and the trend of global economic integration and internationalization of the market is becoming increasingly apparent. Under this new economic condition, consumers present new features and characteristics:
1.Youthfulness. The consumption enthusiasm of younger generations has created many consumer hotspots and trends. The young and successful have driven the youthfulness of consumers. [12]
2.Technicalization. The development of high technology has produced a large number of high-tech talents, and the requirements for technology in all fields have also continuously improved. [11][12] A new generation of consumers is extremely sensitive to technological advancements, and they are adept at capturing subtle changes in the world.
3.Affluence. According to surveys conducted by residents in 14 cities across the country, more than 70% of residents' income is accounted for by purchasing new cars, houses, traveling, studying abroad, running businesses, buying stocks, and educating children. [12]
4.Idealization. As the differentiation of consumption levels becomes more significant, the characteristics of personalized consumption become more and more evident. [2] They tirelessly pursue new things, emphasizing exquisite life enjoyment and consumer taste. The quality of life has improved significantly, and people have begun to pursue cultural education, leisure, and entertainment. [4]
The above four characteristics have significantly changed people's purchasing desires, and the hotspots of purchase have shifted. Faced with this complex market situation, enterprises should have a keen market vision, adapt their concepts in a timely manner, and take consumer needs and desires as their guide, actively developing marketable new products with high-quality services and efficient sales channels. [13] Infectious promotional methods and emotional public relations strategies resonate with consumers' psychological identity, thus seeking more development space for the enterprise. [10]
Business strategy
Currently, brand-name shopping has become a more common consumer psychology. To address this, in the process of implementing brand strategy, enterprises must increase the intensity of brand promotion. [14]While strengthening product quality, they should utilize all possible marketing methods (including advertising, public relations, business promotion, etc.) to promote the enterprise brand, creating a strong brand with a high reputation. [4] At the same time, enterprises should pay attention to shaping and maintaining their brand image, using the brand as a powerful weapon in competition, strengthening consumers' brand confidence, and striving to use marketing methods such as product innovation, design, sales channel construction, and promotion combinations to maintain a unified brand image and win a good reputation and social reputation. [4][10]
The formation of consumer awareness has a complex psychological background. Enterprises must carefully analyze market conditions, deeply explore various consumer psychological characteristics, pay more attention to social and psychological factors related to life concepts, brand awareness, etc., and innovate marketing concepts on this basis. Enterprises should carefully create a perfect corporate image and implement quality products. [15][16]
Reference
- ↑ 1.0 1.1 "How to Create A Customer Journey Map: From Awareness To Conversion". Adgo. Archived from the original on 2018-11-16. Retrieved 2018-10-19.
- ↑ 2.0 2.1 2.2 "Consumer Awareness". Topics, Sample Papers & Articles Online for Free. 2016-10-16. Retrieved 2018-10-19.
- ↑ 3.0 3.1 3.2 "3 Steps To Building Customer Awareness For Undiscovered Customers". Business 2 Community. Retrieved 2018-10-19.
- ↑ 4.0 4.1 4.2 4.3 4.4 Woodside, Arch; Wilson, Elizabeth (1985-01-01). "Effects of consumer awareness of brand advertising on preference". Journal of Advertising Research. 25: 41–48.
- ↑ 5.0 5.1 "What Is the Meaning of Consumer Awareness?". Legal Beagle. Retrieved 2018-10-19.
- ↑ 6.0 6.1 "The Effect of Brand Awareness on Consumer Buying Behavior". Retrieved 2018-10-19.
- ↑ 7.0 7.1 "Subscribe to read". Financial Times. Retrieved 2018-10-19.
- ↑ 8.0 8.1 8.2 "The Exports of Innovative Countries". Retrieved 2018-10-19.
- ↑ "18 Sneaky Ways to Build Brand Awareness". Retrieved 2018-10-19.
- ↑ 10.0 10.1 10.2 Ishak, Suraiya; Faridah M. Zabil, Nur (2012-10-19). "Impact of Consumer Awareness and Knowledge to Consumer Effective Behavior". Asian Social Science. 8 (13). doi:10.5539/ass.v8n13p108.
- ↑ 11.0 11.1 Lokhande, Murlidhar (2006-05-05). "Consumer Awareness – A Case Study of Jalna City". Indian Journal of Marketing. xxxvi: 23–28.
- ↑ 12.0 12.1 12.2 "A powerful Essay/Article on Consumer Awareness". PublishYourArticles.net - Publish Your Articles Now. 2010-03-26. Retrieved 2018-10-19.
- ↑ Lovins, L. Hunter (2017-11-16). "Consumer Awareness Creates Brand Accountability in the Fashion Industry". Huffington Post. Retrieved 2018-10-19.
- ↑ "Boost Awareness of Your Business's Brand". business.com. Retrieved 2018-10-19.
- ↑ Medal, Andrew (2018-03-23). "6 Innovative Ways to Increase Brand Awareness". Entrepreneur. Retrieved 2018-10-19.
- ↑ "Brand Awareness: How to Measure Brand Awareness". Brandwatch. Retrieved 2018-10-19.
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