Consumer Psychology Essay Example | Topics and Well Written Essays - 2500 words

Consumer Psychology - Essay Example The main purpose of the survey was to observe the impact of its advertisements on the people so that the organization could identify the target market and at the same time inject fresh ideas into its advertising strategy. The positive information that has come out of this survey is that significant percentage of people above the age of 20 gave clear indication that their buying decision is swayed by the visual and textual content of the advertisements. The company too, needs to target people above the age of 20 years to market its products. The beer and ale are popular amongst the youth and Arran must target this group primarily because they are open to new ideas and products. By targeting this segment, Arran can strengthen its market position. Another major target markets are the retailers and hotel industry. While retail market would need ales and beers in the bottles, the hotel industry can also have it in cask format. The advertisements should be versatile in their approach to attract clientele from diverse segment of the market. Consumer psychology and analysis of database of customers are important part of market strategy which helps one to know the changing preferences of the customers in the rapidly changing times. Prices may not be very important part of the strategy with the old customers but competitive pricing helps to bring in new clients. Whenever new products are to be launched, it is important that trend in the customers’ needs and requirements are studied in advance so that appropriate strategy could be developed. While the growth and the future prospects of the business depend on the input data as they are able to divulge vital information about the products and the customers, strategic marketing through widespread appealing advertisement is a vital factor that helps to bring in new clientele. Arran Breweries was conceptualized by Richard and