Using the following consumer behavior aspects, what can a marketer do to prolong the life of their product?
- Influence of social media, especially blogging (Blogging, YouTube, etc.)
- Targeting and segmentation (culture, subculture, and social class and status?)
- Consumer motivation and perception
- Consumer's decision making process
- Product life cycle
- Diffusion of innovation
When a company devises a product, it certainly hopes that the product will remain viable for a long time. It hopes that it will be able to keep selling the product for many years. Because of this, marketers typically need to try to come up with ways to make sure that the product continues to be attractive to consumers. Using some of the factors that affect consumer behavior that you mentioned, let us look at how marketers might try to extend the life of their product.
One way that this can be done is by cultivating bloggers and people on social media. It is especially important to reach out to people who are seen as opinion leaders. These are people who are perceived by others as being particularly knowledgeable in a given area. For example, if a person has an influential blog about computers, it would be important to reach out to them if you are marketing computer accessories. A marketer could make sure that this blogger has a chance to try out their product. They could suggest different ways that the blogger might use that product. This could inspire the blogger to give the product good word of mouth on his or her blog.
This idea leads into the idea of diffusion of innovation and the idea of the product life cycle. If the marketer can win the blogger over, the blogger can introduce later adopters to the marketer’s product. As the product becomes less of a specialty item and becomes more widely used, the blogger’s opinion may well help to influence people who come late to using that product.
Finally, the marketer can use market segmentation to extend the life of the product. He or she can try to identify segments of the market that have not yet started to use the product. The marketer can then try to craft marketing campaigns that will introduce the product to those segments and that will resonate with those segments.
By doing a variety of these things, a marketer will have a good chance of extending the life of his or her product.
Thank you for the response to #1 regarding influence of social media. Please comment on behavior aspects #2-7.