There is a new book out written by John Rosen and AnnaMaria Turano titled Stopwatch Marketing. The premise talks about how consumers have an internal clock. This internal clock, which rules their decision making process, is set by a number of factors, such as urgency to purchase and risk. This totally dictates how slow or fast they actually purchase.
For example, if you are buying a bottle of wine for a first date, its high risk. You are going to spend a lot of time making sure you get it right, because you want to make a great first impression with the right choice. On the other hand, if you are buying a bottle of wine for your brother's cousin's coming home party, any old bottle will do.
To marketers, this means that they have to take into account their segments and intentions. This determines the length of the buying cycle which may be super hasty or super slow. Obviously you can't market the same to both groups and that there could be pitfalls for each group.
The book goes into more depth talking about 4 types of shoppers:
- Impatient Shoppers
- Recreational Shoppers
- Reluctant Shoppers
- Painstaking Shoppers
I haven't read this book yet but I will be sure to pick it up the next time I am in Barnes and Nobles. Here is an article about it on Ad Age.
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Posted by: Dr John Mayo | July 09, 2009 at 12:55 PM