Consumer preferences can change at the drop of a hat, and understanding the current wants and needs of consumers can be quite difficult. However, understanding the logic behind consumer purchasing decisions is crucial to building a successful business plan and marketing strategy. There are many factors that influence consumer purchasing decisions, some obvious and some a bit more subtle. Understanding several of these factorswill allow you to tailor your products and marketing strategy more closely to consumer desires.
Packaging design is often a customer’s first introduction to the product itself. As such, it’s important that your product’s packaging makes a good first impression. Even minor design decisions can greatly influence the appeal of a product, so pay special attention when designing your product’s packaging. As we stated, some factors may influence consumers in subtle ways. The quality and color of product packaging materials are two such factors. Color choice can significantly affect consumers’ subconscious purchasing preferences. Therefore, it’s important that you choose colors that will positively influence consumers’ emotions. Consult color theory and color psychology when choosing the color scheme for your product packaging. Choose colors that complement each other well and adhere to your company’s overall brand identity. Additionally, be sure to choose colors that hold a positive emotional connection for consumers.
“Location, location, location” is an age-old adage that many business owners adhere to in various aspects of their businesses. The location of a product within a retail store and on a retail shelf can influence customer purchasing patterns. Placing your products at eye level on a shelf increases the likelihood that a consumer will gravitate toward the product. Products on top or bottom shelves are more likely to go unnoticed, and consumers are therefore less likely to purchase them. You’ll also want to consider the location of your product in relation to that of competing products. Placing your products alongside competitors is a double-edged sword. On the one hand, consumers can see clearly see the main advantages of your product over the competition. However, they’ll also then have the competitor’s products at the forefront of their minds, which could impact their purchasing choices in a negative way.
The location of your product within a retail store is also important. Placing your products near cash registers is a good way to influence impulse purchase. Conversely, placing your items at the back of a store may decrease the likelihood of purchase, as consumers are often less willing to travel to the back of the store.