Buyer Behavior and Analysis Nostalgia

Question: Discuss about the Buyer Behavior and Analysisfor Nostalgia. Answer: Introduction The nostalgia term is derived by Greek Nostos, which means a deep feeling of sadness. It can be understood as craving on the basis of sentiments. Nostalgic marketing is highly used in the organizations which are looking for some innovations in their current products and services. It was firstly applied on western companies. This is done by the companies by organizing the marketing campaigns. Nostalgic marketing can be applied by the company in their marketing strategies by evoking any past memory or any experiences of the customers. This is the reason that nostalgic marketing approach is also called as retro approach as it is based on the past memories. Nostalgic marketing is used by the various companies such as: Mini copper, Volkswagen and many more (Colin 2015). The use of Nostalgia in marketing The companies prefer to use nostalgic marketing in their marketing strategies, because it is assumed by the marketing managers that the customers would not purchase the product and services until and unless there is some emotional attachment to it. The objective of nostalgic marketing is to make the image of product and services as required and needed in the mind of its consumers. This approach is suitable for the companies which are facing cut throat competition, for example in case of mobile companies, nostalgic marketing is highly preferred, the reason being it helps in seeking attention of the user and quickly able to influence them to make purchases (Chong 2014 11-35). To apply nostalgic strategy in the marketing strategies of the company it is recommended that the company should have a good reason for adopting of nostalgic approach. This can be done by making a case study in which the target audience has to be mentioned with their perceived state of mind as how they have performed in their past situations. The marketing managers should consider positive memories, as they will help in building relationship with the consumers and influencing them to purchase the products and services. The advertising team of the company applying nostalgic approach should follow an informal and knowing tone; this would help the consumer in establishing a link with the company. Besides these factors, the company must decide in advance the targeted group of customers and plans to target them specially on holidays, this is because on holiday time, customers are already in nostalgic mood as they want to spend some quality time with their family hence it would be easier for the managers to target them by following this approach (Jellian 2016). Where nostalgia used is in the marketing Environment and for What Products or Brands Nostalgic marketing strategy is used in those industries which are facing intense competition either from its own companies or from other non related competitors. The products or services that should be used in nostalgic marketing must be those which can directly or indirectly affect the buyer decision behavior (Darel, David and Abdullah 2014, 79-84). Nostalgic marketing is considered as one of the preferred approach, the reason behind this is in todays world the consumers chooses the product and services depending upon his or her happiness and emotions. Hence majorly soft drink companies, insurance companies such as: Coca cola, Allianz Australia insurance limited and related companies. In case of Cath Kidstone which is a children accessories store providing bags, fashion products, the company has adopted Nostalgia marketing very successfully. It is known as the leader of nostalgia marketing. The company has done this by establishing research and development activity in its region. It has been analyzed by the company that, the change in the economic environment would lead to change in the demand from its customers in respect of eating habits, home appliances. This has been taken as opportunity for the company, and believed that consumers would prefer to amend the existing products and services rather than to change them completely . This has made the company over the night leading company for children accessories. The prints of the company were used by the Nokia phones, carrier bags of Tesco, Roberts radios, sky boxes, the domestic women of Britain has considered as pioneer in retro prints, washed furniture and embroidered cushions (Amir 2012). Is this an Effective Way of marketing Nostalgia marketing is considered as one of the marketing strategy especially during the period of recession. The use of this marketing in the company structure has increased a lot. the reason behind this is, nostalgia marketing uses real life figures, products and taglines to connect with the customers. However this marketing does not ensure the acknowledgement from the customers, but if this is applied and followed in the right direction, it can lead to best results and lead to positive feedback for the change in the products and processes. Traditionally nostalgic marketing was used by the marketers in case of uncertain market conditions, but in modern era, nostalgic marketing is used to bring authenticity, and build a long term relationship with the customers. Nostalgic marketing is used by the companies majorly by targeting holidays, as these are the days when shopping is done at the most. 2014 year is known as nostalgic era. Honda as an automobile company has used toys and carto on charaterstics such as Armstrong, jem, Gumby, skeletor, in its seasonal marketing campaign (Muskan 2010, 1-9). Nostalgic marketing is not considered as an effective approach by many writers, the reason behind this is, it makes the user or consumer feel sad while recalling the past memories. Hence it can create a negative impact also if the consumer or the user does not have any positive memories in the past. While some of the researchers say that nostalgic approach is a universal approach, which helps the consumer in getting out of boredom, and helping them to feel loved and happier (Wing, Constantine and Tim 2015, pp 283-288). Hence by analyzing the above researchers saying, it can be said that the company managers must cautiously decide the tactics to target the audience on the basis of nostalgic approach. As this would lead to positive feedback from the customers end and would lead the company in increasing in its sales and increase in the number of loyal customers (Graham 2015). Appeals used in nostalgic marketing in Order to Attract these Consumers Marketers uses nostalgic marketing by taking the advantage of warm users of the consumers, that is by evoking the warm memories of the consumers the company marketing managers used to increase the sale of their products and services. Every consumer has come across happy time during the childhood, kinds tone prints, sports. In case of Cath Kidstone, the company is known as leader in applying nostalgia marketing in its marketing structure (Jason 2015). In case of Coca cola, the company has used nostalgic approach in 2014, by introducing its citrus soda on online website Amazone, by citing fans thirsty for a taste of 90s. This is considered as nostalgic marketing because the consumers which are craving for citrus flavored drinks would prefer the coca cola drinks (Lilly and Linda 2015). It has been analyzed that consumers are willing to pay more if they are linked with their past experiences and memories which they want to create in the future. Nostalgic approach helps the consumers in connecting emotionally with the company products and services (Jeff and Chih 2014, 71-79). Nostalgic marketing strategies give options to its users in selection of the stimulus and commodities. It helps the company in deciding the appropriate mix of stimulus such as packing and advertising to target its customers. In case of nostalgic packing, the main objective of the company is to taking advantage from the past memories of the customers. In this, the company adopts packing by using natural materials, a simple decoration. This is done to present the product as a unique historical flavor. While in case of nostalgic advertising, the company targets the emotions of the consumers, so to build an emotional connection between the customer and the company (Rubo 2015). In which Industries / Product Categories does this Appeal Appear to be Prevalent? Companies or industries which are looking for some innovations in their processes of production and distribution of goods and services, the company or industry uses nostalgia marketing. The main objective of using nostalgic marketing in the processes of the company is to catch the eye of the consumers and to make the advertisement of the company longer stay (Lisa 2014). This approach is relevant to various products, markets, place, situation, and many more. It has been observed that nostalgic approach is based on personality, individual character, lifestyle, psychographic variables of the consumer. To apply this approach to the target audience, it must be ensured by the marketing manager that the target audience is prone to nostalgic or feelings. This is required because if the customer would be prone to feelings then only they would be able to acknowledge the change in the offerings of the company. The perception of the consumer towards the brand is also said as nostalgic approach, the reason behind this is, the consumer acknowledges a brand on the basis of his or her attitude, belief, perception, feelings, loyalty for the product or services (Clay 2012). Capitalization/ Sustainability Issues of nostalgic Approach and Implications to Various Parties Involved In the comparison to other marketing approaches such as mouth publicity or door to door advertising, email advertising, nostalgic strategy is preferred the most. The reason behind this is, there are maximum chances that nostalgic marketing would lead to increase the sales of the company due to creation of the emotional link between the customers and the company products and services. by following traditional marketing strategy, the influence over the consumers mind would fade away, but in case of nostalgic marketing it establishes a long term relationship. Hence it is said that nostalgic approach is a sustainable approach (Robert , Chi Yue and Ying 2009, 187-258). It has been analyzed that by applying nostalgic approach to the organization, it would lead to impact the bond between the customers and the company. The approach makes an emotional connection between them by giving the behavioral data of the consumers related to how they feel, when they are sad, their choice and many more factors. This approaches influences the customers to purchase the product or services sometimes even at a higher price. It has been observed that the nostalgic approach would lead to create an positive impact of applied effectively on attitude and brand loyalty. Besides this it gives an option to the company to make some changes in the strategies of the company so to strengthen the bond between customer and the company (University of strathclyde business school magazine 2010). Conclusion Nostalgia is a strategy that is adopted by the companies to target their customers by analyzing the customers behavior related to how they relate themselves to other individuals, product, and objects. It considered the emotions, feelings and mood changes of the customers. By analyzing the report over nostalgic marketing approach it is concluded that this is the strategy which is used to target the audience on the basis of their past experiences and memories which they want to create in the future. By following this approach, the company is in a better position to target its customers in an efficient manner. It can be said that by following nostalgic approach in the marketing strategy of the company, it can lead to impact in feelings, moods and behavior of the company towards the products and services of the company. Besides this, it has been analyzed that there is a positive relationship between the recognition of a brand and nostalgic approach. However there can be negative relationship also if the targeted audience less prone to feelings towards any product, place, situation etc. References Amir Hetsroni. 2012. Advertising and reality: a global study of representation and content, USA, Bloomsbury publishing Chong Chin Wei. 2014. Determinants of Nostalgia sensitivity in Nostalgic driven advertising International journal of academic research in Psychology. 2(1): 11-35 Clay Routledge. 2012. The power of the past: Nostalgia as a meaning making resource Psychology press 20 (5), United Kingdom Colin L Campbell. 2015. 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Induced nostalgia increases optimism(via social connectedness and self esteem) among individuals high, but not low in trait nostalgia Personality and individual differences 90: 283-288