If you run a retail shop then you’ll already know that customers are influenced by what they see within
Read MoreRetail Merchandising
The Business Advisor
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Cultural factors and buyer behavior
It’s certainly true that cultural factors have a significant impact on customer behavior. This means that you should objectively review your product and service offers to see if you can create new customer segments by adapting to different cultural shifts. Culture is the basic foundation of somebody’s wants and behavior. Children absorb a cultural orientation [...]
Read MoreOnline Price Comparison
I’ve explained many times why you should never position your business as a supplier at low prices. Here’s another reason why: Online Price Comparisons. The downturn in the economy has seen more and more consumers flock to price comparison sites where, increasingly, comparisons are available in niche categories. Like you, most consumers spend hours hunting [...]
Read MoreThe Law of Reciprocation
The Law of Reciprocation is a restatement of what philosophers call the Golden Rule: ‘Do unto others as you would have them do unto you.’ But it’s a little more specific, perhaps: We should repay, in kind, what another person has provided us. So says Robert B. Cialdini in his landmark book on the science [...]
Read MoreValue vs Price
At all costs, avoid the temptation to base the image of your company on price. Yes, it is possible to create an advertising campaign for a special price offer, if you are certain that you have an unassailable advantage. But if your target customers see your company only as the lowest cost supplier, then you [...]
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