WEEK 1: CONSUMER IN PERSPECTIVE Flashcards
(32 cards)
Consumer is King (qualities)
- They demand, don’t want to be
commanded. - age-old mantra reflecting the
importance of customers or consumers in every business
Customer is Queen not a King (qualities)
- Liberal, educated, suave
- price-sensitive and quality conscious in all buying decisions
- Decision maker of the house
Consumer’s Profile
- Consumers from womb to tomb
- Depends to a large extent on the
social structure’s complexity.
Two Categories of Consumers
- Urban Consumers
- Rural Consumers
–– can be further divided into rich/poor
and literate/non-literate.
Someone who has access to information and competition.
Empowered Consumer
Three Partners in the Marketplace
- Government
- Industry
- Consumers (Even consumer educators)
–– have historically held this perception
(empowered consumer)
Consumers (Brennan and Coppack, 2008).
are operating in increasingly complex, dynamic and everchanging knowledge-based economies
Types of Consumers
- Impulsive Spender
- Minimalist Seeker
- Secure Traditionalist
- Empowered Activist
- Undaunted Striver
- Conservative Homebody
- Digital Enthusiast
- Inspired Adventurer
- Cautious Planner
- Self-care Aficionado
- Balanced Optimist
- 16% of Global Population
- WHO THEY ARE:
- Discount- and bargain oriented consumers who
keep up with latest trends; - seeks personalized and
engaging experiences. - HOW THEY SPEND:
- Value for money and
quality are key drivers - seek convenience, which they are willing to pay for.
Impulsive Spender
13% of Global Population
* WHO THEY ARE:
- Consumers who strive to maintain a modest lifestyle;
- aren’t conscious about self-image.
- HOW THEY SPEND:
- Sticks to essentials
- Open to trying new brand
that fits their needs - Product longevity is
important.
Minimalist Seeker
- 12% of Global Population
- WHO THEY ARE:
- “actively” avoid shopping
- Usually go for the cheapest
option available - HOW THEY SPEND:
- Frugal consumers
- more comfortable buying offline
Secure Traditionalist
- 12% of Global Population
- WHO THEY ARE:
- Concerned about
authenticity and global
issues - Considerate of their
behavior and how these
should be aligned with their
values - HOW THEY SPEND:
- Best interest of the
environment at heart, but still affordable
Empowered Activist
- 11% of Global Population
- WHO THEY ARE:
- trendy consumers
- put premium on their status (online and offline)
- go for experiences and
leisure activities, name brand and luxury products - HOW THEY SPEND:
- Willing to try new brands and products, and pay more for these
- Have growing interest in digital, social media and celebrity endorsements
Undaunted Striver
- 9% of Global Population
- WHO THEY ARE:
- People who prioritize family and personal matters, and not so much their image
- HOW THEY SPEND:
o Enjoys shopping
experience and browsing
through stores
o In-store promo, popup
shops and limited-time
collections may attract and
lead to occasional impulse
buys
Conservative Homebody
- 9% of Global Population
- WHO THEY ARE:
- Lovers of all things tech
- Relies heavily on such tools for everyday tasks
- HOW THEY SPEND:
- Highly focused on price and short-term needs
- Buy impulsively when they see a new product that’s priced low
- Willing to spend a little
extra on services
Digital Enthusiast
- 6% of Global Population
- WHO THEY ARE:
- Open to trying new things
- Mindful of their future
- Invests in personal, health, or career goals
- HOW THEY SPEND:
o Swayed by prices
o Easy to switch brands
o Prefer quick transactions
o Research first their
Inspired Adventurer
- 5% of Global Population
- WHO THEY ARE:
- Not impulsive
- Spends carefully
- Goes for tried-and-tested brand instead of new trends
- HOW THEY SPEND:
- have a list –– and they stick to it or thorough in their research
- scrutinize reviews and labels before buying
Cautious Planner
- 5% of Global Population
- WHO THEY ARE:
o Put importance on oneself
o Exercises regularly
o Take vitamins and
supplements
o Take time for themselves to
spend with close friends
and family
*HOW THEY SPEND:
- Indifferent
- Quick to purchase items
that “focus on saving time” and “prioritize health and
well-being”
- Splurge more on
experiences rather tan
material things
Self-care Aficionado
- 3% of Global Population
- WHO THEY ARE:
- Enjoys the present, but also plan for the future
- Value time with family and friends
- HOW THEY SPEND:
- Low–or competitive– prices are important
- Simple and convenient
shopping experiences that allow them to get things done quickly
Balanced Optimist
Faces of Consumer
- Chooser
- Communicator
- Rebel
- Identity seeker
- Hedonist or pleasure seeker
- Victim
- Voyeur
- Activist
- Anti-consumer
- Explorer
The Filipino Consumer
- Pakikipagkapwa
- Suki
- Increasing in spending, even in the lower income groups
- Tingi economy
- Young population
- Spend, spend, spend kahit wala silang source of income
- 5th largest labor force in Asia
- Dependent on OFW’s remittances
Seven Income Classification of
Filipino Families
- Poor (less than PHP 10,957)
- Low income; not poor (more than PHP 10,957 - 21, 194)
- Lower middle class (more than PHP 21,194 - 43,828)
- Middle class (more than PHP 43, 828 - 76, 669)
- Upper middle income (more than PHP 76, 669 - 131, 484)
- High income (more than 131, 484 - 219, 140)
- Rich (more than 219, 140)
ability to rationalize or justify in a logical manner
Chooser
word of mouth
Communicator
