| Statistic |
Data |
| Percentage of purchase decisions influenced by social media |
71% |
| Percentage of consumers who read online reviews before making a purchase |
93% |
| Percentage of consumers who are more likely to purchase from a brand they follow on social media |
60% |
These statistics highlight the significant impact that consumer behavior has on purchasing decisions. In the MSc in Strategic Marketing program, students learn how to analyze consumer behavior through market research, data analysis, and consumer psychology. By understanding the motivations, preferences, and buying habits of consumers, marketers can create targeted and effective marketing campaigns.
One of the key components of consumer behavior is understanding the customer journey. From awareness to consideration to purchase, marketers must map out the various touchpoints that influence a consumer's decision-making process. By identifying these touchpoints and optimizing them for maximum impact, marketers can increase brand awareness, drive engagement, and ultimately, boost sales.
In the MSc in Strategic Marketing program, students also learn how to leverage consumer behavior data to personalize marketing campaigns. By segmenting customers based on their demographics, behaviors, and preferences, marketers can deliver targeted messages that resonate with their audience. This personalized approach not only increases the effectiveness of marketing campaigns but also enhances the overall customer experience.
In conclusion, harnessing the power of consumer behavior is essential for success in the field of marketing. By understanding the motivations and behaviors of consumers, marketers can create targeted and effective marketing campaigns that drive engagement and increase sales. In the MSc in Strategic Marketing program, students are equipped with the knowledge and skills to analyze consumer behavior and develop strategies that resonate with their target audience.
Source of data: MarketingSherpa, Nielsen, Sprout Social.