Consumer Personality Traits and New product Marketing Strategy

Dr. Catherine Ngahu discusses the consumer personality and new product marketing strategy. Personality traits of consumers who buy new products are important in developing new product marketing strategy. To succeed in marketing new products, marketers need to focus on consumer personality and especially the personality traits which influence consumer buying behaviour.
Only a small proportion of those in the market are willing to buy new products. As such marketers need to target new product marketing efforts towards consumers based on their willingness to buy new products. Consumer innovators are people who seek new and innovative products. they are the right target for new product marketing strategy.
Consumer research shows that only a small proportion of people are willing to buy new product. Personality traits identify consumers to target with new products based on their risk profiles and open mindedness. Most people wait for others to buy so they get evidence of performance.
In This video Dr. Catherine Ngahu discusses four personality traits of innovative people based on willingness to buy new products. She explains the main factors that drive or influence the risk profile for each personality type or category. She advises businesses and marketers on how to maximise on this dynamic for best results in marketing new products and services.
This principle works for any type of business trying to market a new product or service. It’s important for companies that are introducing new products and will help develop effective new product marketing strategy.
The personality traits evaluated include low dogmatism vs high dogmatism; inner directed vs other directed and so on.


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