Wednesday, January 27, 2010
Understanding Factors Behind Consumer Behavior And Who Advertising Targets
I found this advertisement featuring Roger Federer with a Rolex watch in a tennis magazine. The copy says: Roger Federer: Number one. The title that comes with being the first to reach 15 Grand Slams. Inspiration. Icon. And not finished yet. Called the greatest player of all time, by the greatest players of all time. Rolex. A crown for every achievement.
I thought that this advertisement was a good example of how different factors play into a consumer's decision to purchase a product/service.
Cultural factors - This advertisement targets the American culture's tendency to associate success with titles and tangible achievements. For instance, it says that Federer won 15 Grand Slams and then goes on to say that he is an inspiration and an icon. Also, owning an expensive watch such as a Rolex could be an indication of one's social class. The advertisement (or others like it that Rolex features) clearly ties successful, wealthy, inspirational athletes with owning Rolexes.
Social factors - Obviously this advertisement would be more successful with those that actually know who Federer is, and targets the market that has a knowledge or is a fan of tennis. However, Rolex features many different athletes so you could say that they target the segment of the population that aspires to be physically fit in general or looks up to athletic stars.
Personal factors - This advertisement definitely targets an older audience, probably late 20's and up, those who could afford a Rolex and would buy it as a symbol of their success. This advertisement associates buying a Rolex as a "crown of achievement" so it could be a good indicator of a person's lifestyle. Because Rolex is connected with the affluent and talented, those who buy Rolexes might also feel that they are affluent and talented.
All of these different factors play an important role in why a consumer would buy a particular product and understanding these factors allows marketers to use these factors to direct advertising at target markets.
-Caroline Tsoi, Mktg 301 Section E