Consumer Research – Personality & Consumer Behaviour Monday, Nov 24 2008 

Personality can be described as the psychological characteristics that both determine and reflect how a person responds to his or her environment. Although mostly the personality tends to remain consistent and enduring, it may change abruptly in response to a major life events. Personality also change gradually over time.

Theories:

3 theories of personality are prominent in the study of consume behaviour:

 

  1. Psychoanalytic Theory
  2. Neo-Freudian Theory and 
  3. Trait Theory

 

Freud’s psychoanalytic theory provides the foundation for the study of motivational research, which operates on the premise that human drives are largely unconscious in nature and serve to motivate many consumer actions.

Non- freudian theory tends to emphasize th fundamental role of social relationships in the formation and development of the personality.

Alfred Adler viewed human beings as seeking to overcome feelings of inferiorty.

Harry Stack Sullivan believed  that people attempt to establish significant and rewarding relationships with others.

Karen Horney saw inidividuals as trying to overcome feelings of anxiery and categorized them as compliant, aggresive or detached.

Trait Theory is a major departure from the qualitative or subjective approach to personality measurement. It postulates that individuals possess innate pyschological traits to a greater or lesser degree, and that traits can be measured by specifically designed scales or inventories.

Because they are simple to use and to score and  can be self-administered, personality inventories are the preferred mehtod for many researchers in the assessment of consumer personality.

Product and brand personalities represent real opportunities for marketers to take advantage of consumers’ connections to various brands they offer.

Brands often have personalities- some include “humanlike” traits and even gender. These brand personalities help shape consumer responses, preferences and loyalities.

Each individual has a perceived self image or images as a certain kind of person with certain traits, possessions, relationships, habits, behaviours etc., Consumers frequently attempt to preserve, enhance, alter or extend their self images by purchasing products or services and shopping at stores they percieve as consistent with their relevant self image and by avoiding products and stores they percieve as not consistent to their self image.

What are the personalities of your target consumers?

What is your company’s brand image? What is your product/services image?

MANAGEMENT INNOVATIONS

managementinnovations2020@gmail.com;  manojonkar@gmail.com; 91-9375970812

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RECESSION STRATEGY – Honour your Vision and Core Values Monday, Nov 24 2008 

What should you do when in Recession?

How to Create the right Recession Strategy?

Maybe, more than anytime else, Recession is the time for the companies to be true to their Vision, get more focused on fulfilling their mission and dedicatedly honour their core values.

This is the time, when the companies and their top management are tested by the employees, customers and all stake holders. 

Are they visionaries or are they just another bunch of opportunists?

Do they really have a Vision or they have a Vision Statement as a good PR exercise.

What are their Real Core Values? or are there any core values at all, except self preservation and survival.

The difference between great companies, visionary companies and ordinary companies is very vividly visible in the way they deal with the challenging times like Recession.

This is where the rubber meets the road. This is where the CEO and the board have to walk their talk.

Do all those hours spent in the vision mission exercises mean anything?  OR the vision the first casualty of the recession.

What is the value of the Core Values created by the top management, investing some huge amount of man hours and a great amount to time and money?

All the companies, who will dump their vision and their core values at this time, are being short sighted.

Next Quarter, next financial year, when you would have survived the tough times, when you look back at those people, will you be able to talk big? will you be able to get everyone aligned on any big vision? 

 

How do you honour your values and fulfill your vision – when you are worried about going down?

That is the time, more than any other time in your life, to honour your values and be true to your vision.

This is what differentiates the originals from the fake, the men from the boys, the winners from the also rans.

 

For support contact: MANAGEMENT INNOVATIONS managementinnovations2020@gmail.com; manojonkar@gmail.com; 919375970812