100%(17)17 out of 17 people found this document helpful
This preview shows page 12 - 15 out of 52 pages.
more “healthy” conscious consumer while maintaining market competitiveness.Psychological Factors.Kotler and Keller (2016) discuss the four key psychological processes: motivation, perception, learning, and memory (p. 165). In regards to the motivation ofthe consumer, Taco Bell attempts to motivate its customer base using innovative advertising, low prices, and flavorful Mexican-style food choices. To further motivate the consumer to respond, Taco Bell uses social media engines such as Twitter, Snapchat and Facebook to promote
MMGP GROUP 3 – TACO BELL13marketing campaigns with bright colors and focus on value, flavor, and fun to tap into the consumer’s selective attention perceptual process, giving the consumer instant access to these advertisements.Learning theory describes the changes in actions due to internalized knowledge. This theory shows marketers the usefulness of associating products with a compelling need. Taco Bell continually stresses the excitement, uniqueness, and low cost of their offerings. This repetitive, yet distinct message creates and maintains customer loyalty.Similar to the loyalty from the learned experiences with Taco Bell, marketers understand thevalue in using the memory component of the psychological process to create memorable and persuasive advertising to help facilitate the development of memory. The marketers at Taco Bell have created several extraordinary and remarkable advertising campaigns such as Fourth Meal andthe Taco Bell Chihuahua. These marketing concepts may be slightly silly, but memories and new customers were generated. Success marketers understand very well that customer purchase activities are based on four psychological processes and acknowledge the substantial power that these processes have in regards to consumer behavior and the decision to purchase.Consumer Behavior Factors.Taco Bell is a Mexican fast food chain which puts emphasis on brand personality and aggressively targets young adults and teenagers in its marketing plan. Personality can be a useful variable in analyzing consumer brand choices. Brands also have personalities, and consumers are likely to choose brands whose personalities match theirown. We define brand personality as the specific mix of human traits that we can attribute to a particular brand (Kotler & Keller, 2016.) Taco Bell hours of operations are indicative of the brands personality with consumers. Taco was one of the first fast food chains to offer late night service well before 24-hour drive-thru. Based on research, today’s consumers care less for
MMGP GROUP 3 – TACO BELL14design, and more for what a brand means to them personally. Taco Bell means to the consumer quick, convenient, and reasonable Mexican food at any time of the day. Analyzing Market SegmentsVariables for Segmentation.Market segments consist of two broad groups based on theneeds and wants of customer (Kotler & Keller, 2016). Of these broad groups, one of the variablesused by Taco Bell is through demographics. This is when a company divides the market into