Think about the last purchase you made. What questions did you ask yourself before buying, did you compare other similar products or did you buy it because it is a habit?
When taking this course, I grew to be an consumer who was aware and mindful when going to the store. When I bought certain products, I came to reflect on my decisions as a consumer and asked myself why I acted a certain way.
This course taught me how to use theoretical frameworks in order to understand consumers. For example, the power of the “Free option” when making a purchase makes us believe that we do not lose anything, visibly. Nevertheless, most consumers find that, in order to obtain the “free option”, most consumers over paid or bought an object that they did not intend to. It is interesting to see how fast we can become irrational when presented with the “free options”. In fact, this strategy along with the effects of ownership can explain why companies offer free trials of certain products for a limited period of time.
One of the projects for this course I worked on was how the Tiffany&Co brand positioned itself with its consumers by uing the laddering technique. Through several interviews, I learned how cultural differences play an important in a consumers’ decisions and perceptions of brand images.