Increasing sales whilst tightening budgetary expenditure seems paradoxical, but it can be achieved by focussing marketing efforts on your key audiences.
Traditionally, consumers were categorised by demographics, skewing representation of their habits and lifestyle; however, marketers are now releasing that consumer habits and preferences are the most important factors influencing purchasing behaviour.
Evaluating personal attitudes (i.e. media consumption, buying behaviour, individual aspirations); Euromonitor International identified 8 global consumer types in a 2018 study:
Identifying key audience/s, their shopping motivators, major personal influences, habits, and purchase decision drivers when evaluating product innovation, sales and the marketing will enable retailers to maximise sales on a low budget.
Source: Euromonitor International
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