MMC 3420 Chapter Notes - Chapter 4: Brand Awareness, Geico
27 May 2018
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The Consumer Decision Journey
• Consumers changing how they research and buy products
• Marketing – reach consumers at the moments most influence their decisions
o Called touch points – open to influence
• “Funnel”
o Consumers start with a number of potential brands in mind
o Marketing is then directed at them to reduce that number and move through the
funnel
• Funnel fails to consider all the touch points and key buying factors resulting from the
explosion of product choices and digital channels
• Less linear
• Consumer Decision Journey – different kinds of media, Internet access, and wide product
choice
• Shift from one-way communication (marketers to consumers) to a two-way conversation,
marketers need a more systematic way to satisfy customer demands and manage word-of-
mouth
• Two types of Customer Loyalty which challenged companies to revise their loyalty
programs and manage customer experience
• Integrate all elements into the organization (strategy, spending, channel management, and
message)
• Research in automobile, skin care, insurance, consumer electronics, and mobile-telecom
industries
• Decision-making process is a more circular journey, with four primary phases
o Initial Consideration
o Active Evaluation – process of researching potential purchases
o Closure – consumers buying brands
o Postpurchase – consumers experience the product
• Fragmenting of media and proliferation of products have made consumers reduce the
number of brands they consider at the outset
o Brand awareness matters – brands in initial-consideration can be up to three times
more likely to be purchased
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