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Product Management Library of Knowledge


Consumer Behavior: Emotional States and Purchasing Decisions

Consumer Behavior: Emotional States and Purchasing Decisions by Paula Gray, AIPMM A recent study stated that consumers are exposed to 5,000 brands every day. When consumers choose between those goods and services, they may believe that they are being...

The Heart And Core Of Super Customer Experience

Think of the customer's view at every moment from design of products and services to the sales and follow-up care. What will their reaction be? Let this approach guide all your design efforts. Let it shape your redesigns to keep pace with a changing customer demographic. Remember, the customer experience is from the outside in to your company -- not from the inside out!

Factors Affecting Consumer Behavior

By Asifo Shah

Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are various other factors influencing the purchases of consumer such as social, cultural, personal and psychological. The explanation of these factors is given below.

Navigating the Changing Winds - 6 Master Strategies to Building Customer Loyalty

Navigating the Changing Winds - 6 Master Strategies to Building Customer Loyalty
By Kellie D'Andrea

The winds - "they are a changing my friend".... The current state of the economy, a new President, failing financial systems, fluctuating prices and high unemployment have caused many of us to pause and evaluate opportunities to reduce expenses and to optimize our performance. As our economy continues to fluctuate, controlling expenses and optimizing service levels from partners and vendors is going to become the focus for all of our customers. We all must be sensitive to these "changing winds" and enhance the experience of our customers each time we interact with them. We must go back to the basics of serving our customers and take the actions that make a difference. The simple actions - a patient ear, a please, a thank you, a quick update on status (even if you don't' have update to give - the fact you are reaching out to let them know you are working on their problem goes a long way) and a smile that can be heard over the phone are all simple things that we can do each and every day to stand apart from our competition.

The art of hospitality can be very profitable, but it does take some practice and effort. To succeed, you must be dedicated to customer service first, always demonstrating that you care about their issues. Although customers may not always be right, we all must agree that it is okay for them to be wrong. Treat everyone with concern and compassion. After all, our business is not about us - it's about the people we service and that single fact is more critical now as we navigate the changing winds... Below are 6 strategies that when applied, will evolve your customer service to the next level - customer loyalty.

A Brush With Fame - Consumers Are Eager to Participate in Brand & Market Research

By Doug J. McIntyre

It's no secret that some of the biggest and most profitable brands owe much of their success to market research teams. This is to say, they owe much of their success to the consumers. After all, the chief goal of market research companies is to establish a connection with the consumer on the most basic levels: how a particular product affects their daily life. The results that can come from this type of ethnography research can be invaluable to the planning and execution of any branding strategy.

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