Consumer behavior and brand loyalty are the keys to brand management. People usually follow certain patterns when choosing or buying something. A good brand manager is someone who knows the heartbeat of the customer, knows their buying behavior and behavior, and is able to provoke consumer participation to test their brand.
It is true that in every market there are customers who are loyal to a particular brand and some who are not. Those who are not loyal to your brand will stay loyal to other brands. If you understand the loyal and unbranded segments, you can easily target specific promotional activities to those brands to attract unfair leads to your brand. The key to responding to this promising new segment is to get more engagement through awareness.
Correct knowledge of the customer buying model is the most important piece of information for the brand manager's strategy to increase market share and market penetration. There are many market research companies that have been researching and recording data on consumer and buyer behavior, especially in the FMCG segment, for more than fifty years. Data analysis, based on real consumer buying patterns, which have been registered for several years, gives us a real picture of consumer behavior. There are several types of market research analysis covering different segments as well as regions and countries. Consumer behavior varies from country to country. While people in the UK prefer to order in the mail and buy items or items in smaller quantities, American consumers prefer to buy in bulk and keep them at home. Geographic distance and shopping location also contribute to consumer behavior.
Consumer behavior data alone will not be sufficient to make branding decisions. To know a consumer's heartbeat, you need to know more about the market and buyers. While you'll find that brand penetration is steady for the most established brands, it doesn't work as well for newer brands. Whenever a new brand is launched or a promotional event is held, consumers are ready to try the promotional product while remaining loyal to other brands.
The 80:20 rule is also good for consumer brand loyalty; Eighty percent of sales are made by twenty percent of loyal buyers of the brand. The challenge is that promotional events aim to get more and more consumers to try the brand, paving the way for increased brand awareness. Brand managers then need to work at the next level to make it easier for test users to use them.
The emergence of social networks has changed consumer behavior in general. Potential and loyal brand customers as well as disgruntled brand users have direct access to a large network where they can exchange information and experiences, initiate discussions, and form opinions. Brand managers have no choice but to understand this platform and connect with customers through social media. This channel is a powerful tool for brand managers to build a community of brand advocates and interact with brands and consumer prospects to build relationships. The risk of negative brand advertising is also very high and brand managers need to continuously monitor and interact with social networks to avoid such interactions.
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