The advertisements are meant to attract the target population towards the product, service, or any offering given by the organization and create a differentiation in the minds of the prospective consumer. Henceforth, the advertisers aim to relate to the sentiments of the consumer when they air any ad. They have to understand what consumer wants to see, feel or can relate to in the current scenario.
The consumer has changed the spending behavior in the sense that the priorities have changed when it comes to the shopping. The criteria of buying the items, the type of commodities or products bought among a range of products, have all changed due to varied factors differently in different places at different times.
This changed scenario makes it difficult for the advertisers to make their ads lucrative for the consumer. Hence it is mandatory to bring a change in their advertising stimuli to affect the consumer spending behavior in their favor. The paper discusses how the changed patterns of spending have influenced advertising worldwide. The advertising strategies being deployed in the current market to persuade the customers to buy their product, and how far they have been successful in doing so, has been explained here in detail.
Introduction to the topic
“The effect of consumer spending pattern on advertising”
The topic has a cause and effect relationship which is explored vividly in the research paper. The two elements often work in tandem, former affecting the latter strongly, thus giving new dimensions to marketing strategies. Let’s understand the terms specifically
Advertising: “It attempts to break down people’s constraints to buying them by shifting them to an irrational decision mode. “The very name of midnight madness promotional shopping campaign nicely illustrates the function of advertising” William Di Pietro.( household consumption and advertising)
Consumer spending pattern: “Consumers are becoming smarter and smarter. They have the consumption power, but they are more cautious in spending and adopt a wait-and-see attitude to get the best possible value-for-money services and products." Arun Sudhaman (back with a difference)
The above given attributes to the given terms express their meanings and how we are going to define them in the paper.
Need of the research
There have been conflicting opinions regarding this issue as to how we can influence consumer spending behavior through the advertising methods, and the extent to which consumer spending pattern for different products/services in different scenarios determines the advertising methods adopted. Most of the researchers agree in the view that the consumer spending pattern is a key influencer in the process of advertising.
•This paper gives an insight on the degree of influence and the all the dimensions of this influence corresponding to varied consumer spending pattern in different situations. •It also talks about the various products/ services for which consumer spending has inclined in a highly premium category. •The paper discusses the influence or demand of the different segments of people for their choice of products on advertisements. •Hence the future managers have a better idea of the advertising techniques to target different segments and the changing tastes. •The advertising expenditures can also be brought in sync with the current consumer spending pattern in that particular category.
Hence we can benefit the current researchers as well as future management to understand the target base correctly and be more successful in their attempts to attract the consumers.
Objectives of the research
Given are the objectives of the research which makes it more relevant. •The focus will be on the type of products/services/any other offerings that need to account for such influences in a broader way. •It will account for the particular regions where the change is...