Episode #057: You Are What You Buy with Michael Solomon
In This Episode of The Buyer’s Mind with Jeff Shore:
Michael Solomon and Jeff look at how advertising and marketing fit into how customers make purchase decisions. What consumers choose to purchase changes how they think about themselves. As a sales professional, understanding the global economy becomes more and more important if you’re to meet the needs of your customer. Knowing what your customer thinks about brand could give you the edge in helping you influence their purchase.
Topics we’re going to cover on today’s podcast:
[3:09] Quote of the Day
[4:52] Sales Tip of the Day
[6:18] Michael R. Solomon
[12:17] How do you stay in front of consumer trends?
[16:40] Define “the hive mind”
[22:42] The Millennial Generation
[26:31] The Shift in the Global Economy
[35:35] Motivational Summary
More about our guest Michael R. Solomon:
Michael literally “wrote the book” on understanding consumers — his textbooks on Consumer Behavior, Social Media Marketing, Advertising, Fashion Psychology and Marketing are required reading in hundreds of business schools around the world. He holds a Ph.D. in Social Psychology and is currently Professor of Marketing in the Haub School of Business at Saint Joseph’s University in Philadelphia.
He has advised numerous companies on consumer research and lifestyle marketing issues. Michael is in demand as an acclaimed lecture-series Speaker to business groups around the world; in recent years he has delivered keynotes in South Korea, Brazil, Peru, Japan, Germany, Mexico, the United Kingdom and Poland.
Michael’s focus is on the importance of studying and understanding how products and services are experienced by consumers. He has published research on such topics as consumer behavior, fashion psychology, branding, retailing, and marketing research in numerous academic journals, and he has been recognized as one of the ten most productive scholars in the field of advertising and marketing communications. Michael is passionate about the extraordinary world of the ordinary consumer. The marketing guru Philip Kotler summed it up when he stated, “Solomon has the mind of a scientist and the writing flair of a journalist.”
Michael’s book, Consumer Behavior: Buying, Having, and Being (now in its 12th edition by Pearson Education), is the most widely-used textbook on the subject in the world. His book Marketing: Real People, Real Choices 9th edition (Solomon, Marshall and Stuart, Pearson Education) is one of the top five Principles of Marketing texts in the U.S.A. In 2012 he co-authored the first textbook on Social Media Marketing, which is now in its second edition (SAGE). His trade book, Conquering Consumerspace: Marketing Strategies for a Branded World was praised by marketing expert Philip Kotler as “The best book I have read for deciphering today’s new consumers.” His newest book, The Truth about What Customers Want, was published by FT Press.