Why Do Consumers Buy? - Dr. Michael Solomon Ph.D. P10

Dr. Michael Solomon returns for a Premium episode to explain why consumers buy, why we are loyal to some brands but abandon others. Michael talks about the AIDA model, surrogate consumers, multiple touches, engagement, authenticity and much more in this fascinating 56-minute episode. Watch or listen to the whole episode so you don't miss Michael’s predictions for the future of retail.
https://www.michaelsolomon.com/
email [email protected]
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Timeline
03:39 We buy because of who we are
04:36 Brand loyalty over generations
05:20 Heuristic & shortcuts
07:00 AIDA model
07:56 Multiple touches with a customer
09:00 Crossfit example
10:16 The ENGAGE course
14:00 The surrogate consumer
15:50 Consumers overwhelmed by choice
17:20 Gatekeepers
19:10 Awareness
22:00 Interest
24:20 Desire
25:30 Cinco de Mayo
28:16 Action
29:10 Behavioural economics
33:00 Increased security in retail outlets
34:40 Two-tier retail shopping levels
37:05 Automatic checkouts
42:00 Authenticity
46:00 Future trends
50:00 Engaged customers
54:00 The Metaverse & VR
55:03 Contact Michael