WEEK 1: CONSUMER IN PERSPECTIVE Flashcards
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
consumer resistance
Rebel
formation of social identity
Identity seeker
consumption as pleasure
Hedonist or pleasure seeker
fraud, manipulation, and
shortchanged (susceptible)
Victim
gratification
Voyeur
resulting in the formation of groups
Activist
boycotting
Anti-consumer
checking options and other possibilities
Explorer
