Navigating the fear factor in consumer choice

Date of publication: June 10, 2021

Catalogue: Webinars 2021

Author: Matt Hester

Abstract:

For more than two decades, Strategy Analytics has been working with clients across industries to measure what drives consumers to make purchase choices of products and services ranging from smartphones and service plans, cars to restaurants, food, and beverages. 

The path-to-purchase has typically been driven by a combination of rational (e.g., price or features) and emotional factors which are often positive (e.g., pride or prestige) until COVID-19.  A new choice factor, FEAR, has altered the dynamics of everyday choices that consumers routinely make? fear of contracting the virus and getting sick or even dying, fear of the unknown.  While there is growing optimism that things will get better, the reality is consumers? mindset has changed.

Join Strategy Analytics as we share with you how consumers? purchase criteria are evolving, the increasing impact of emotions, and how companies and marketers need to adapt to these changing dynamics.


What you can learn from this webinar:


- How emotions, specifically negative emotions like Fear, Uncertainty, and Doubt (FUD), have progressively become a more critical driver of consumer choice

- Examples where fear is being used to market and advertise products and services

- How fear is changing how we segment, target, and market to consumers and customers 

- What analytical research techniques enable researchers and marketers to isolate and measure the impact of emotions to purchase choices

- How marketers can leverage these insights to create compelling value propositions, product positioning, and messaging 

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