Selective retention consumers

(noun)

Selective retention consumers remember messages that are more meaningful or important to them.

Related Terms

Examples of Selective retention consumers in the following topics:

  • Consumer Purchasing Behavior

    • Consumer behaviour is the study of when, why, how, and where people do or do not buy a product.
    • Consumer behaviour is the study of when, why, how, and where people do or do not buy a product.
    • A greater importance is also placed on consumer retention, customer relationship management, personalisation, customisation and one-to-one marketing.
    • Selective exposure consumers select which promotional messages they will expose themselves to.Selective attention consumers select which promotional messages they will pay attention to.Selective comprehension consumer interpret messages in line with their beliefs, attitudes, motives and experiences.Selective retention consumers remember messages that are more meaningful or important to them.The implications of this process help develop an effective promotional strategy, and select which sources of information are more effective for the brand.
    • The marketing organization must facilitate the consumer to act on their purchase intention.

  • Purchase Influences

    • Similar to consumers, B2B purchase influences encompass different variables that affect business customers' buying behavior.
    • Customer retention, customer relationship management, personalization, customization, and one-to-one marketing programs are instrumental in encouraging new and repeat purchases in B2B companies.
    • Personalized customer service and marketing programs are also influential during the B2B evaluation and selection process.
    • The option of a straight "re-buy" can help to encourage customer retention.
    • To facilitate the evaluation and selection process, B2B customers specifically look for product attributes such as economy in cost and use, productivity, and functionality.

  • Customer Wants and Needs

    • Consumer wants and needs should drive marketing decisions, and no strategy should be pursued until it passes the test of consumer research.
    • For example, food is considered a consumer need.
    • The criteria used in the evaluation of alternatives vary from consumer to consumer.
    • The search for alternatives is influenced by such factors as time and money costs, how much information the consumer already has, the amount of the perceived risk if a wrong selection is made, and the consumer's disposition toward particular choices.
    • These feelings can influence customer retention and influence what the customer tells others about the product or brand.

  • Social Behavior of Consumers

    • Observing and understanding how consumers behave and interact with each other has led to the introduction of new semantic analysis technologies allowing companies to monitor consumer buying patterns based on shared and posted content.
    • Traditionally, consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, purchase and dispose of products, services, experiences, or ideas.
    • Relationship marketing, customer retention, customer relationship management (CRM) and personalization are all tactics used to assess consumer behavior.
    • Brands commonly use behavioral targeting techniques to market to consumers based on their online behavior.
    • Describe how social media aids the study and measurement of consumer behavior

  • Selection

    • Selective retention: recalling only what reinforces your beliefs, values, and expectations.
    • Selective perception: the tendency to perceive what you want to.
    • Selective exposure: you select what you want to expose yourself to based on your beliefs, values, and expectations.
    • Selective attention shows up across all ages.
    • More than half the brain is devoted to processing sensory information, and the brain itself consumes roughly one-fourth of one's metabolic resources, so the senses must provide exceptional benefits to fitness.

  • Reminding and Retaining Customers

    • As more brands compete for consumer attention in an increasingly crowded marketplace, organizations must develop marketing communications strategies that address customer challenges, appeal to customer needs, and drive repeat sales.
    • E-commerce sites help customers select and prioritize choices by organizing items based on past online behavior and purchases.
    • Retention strategies that incorporate personalization features may include one or more of the following:
    • The interactivity between brands and consumers occurs through the offer redemptions recorded by the point-of-sale systems, which can then update each individual shopper's profile.
    • Many companies in competing markets will redirect or allocate large amounts of resources toward customer retention, particularly in markets with increasing competition.

  • Arguments for and against Corporate Social Responsibility

    • Corporate social responsibility, also referred to as CSR, can be described as embracing responsibility for a company's actions and encouraging a positive impact through its activities on the environment, consumers, employees, communities, and other stakeholders.
    • Proponents of CSR argue that socially responsible practices can have a positive impact on the organization by improving employee recruitment and retention, managing environmental risks by reducing harmful accidents, and differentiating brand to achieve greater consumer loyalty.
    • Part of the critics' argument is that managers should not select social causes on behalf of a diverse set of owners.

  • Dividend Payments and Earnings Retention

    • The dividend payout and retention ratios offer insight into how much of a firm's profit is distributed to shareholders versus retained.
    • Dividends are usually paid in the form of cash, store credits (common among retail consumers' cooperatives), or shares in the company (either newly created shares or existing shares bought in the market).
    • These retained earnings can be expressed in the retention ratio.
    • Retention ratio can be found by subtracting the dividend payout ratio from one, or by dividing retained earnings by net income.

  • Customer Relationship Management

    • Customer relationship management focuses on improving retention through improving communication with consumers, and leveraging data to better understand needs.
    • Customer retention is a simple concept.
    • In sourcing your coffee beans, you notice customer retention is low if they order a particular roast of coffee.
    • Marketing/sales messages are individualized to be of interest to the consumer
    • Ongoing discussions regarding privacy relative to the observation of consumer behavior are still relevant concerns for modern consumers.

  • Consumer Perception of Communication

    • Analyzing how consumers access marketing messages can help brands discover consumers' preferences for how to receive information.
    • Failure to follow consumers' changing media preferences can be expensive.
    • Consumers use a variety of sources, including:
    • Perception is defined as "the process by which an individual receives, selects, organizes, and interprets information to create a meaningful picture of the world. " During the perception process, consumers enter different stages where they choose which promotional messages they will expose themselves to.
    • Some consumers will selectively listen to and remember messages that are more meaningful or important to them based on these internal factors.