Fuzzy cognitive maps to evaluate the consumer desicion journey throughout the evaluation and understanding of the consumer motivation scale
Peña Palacio, Juan Alejandro | 2021
ABSTRACT: Taking into consideration the importance of understanding the consumer decision journey, along with being able to pick out the factors that drive the motivation of a consumer towards deciding to purchase or not a product is essential. It is a fact that by understanding and being able to predict consumer trends it is possible to boost up engagement people have with the products all new/existing businesses can offer. By utilizing an adequate consumer motivation scale to determine what drives the consumers and in that way develop new products, new campaigns, or even implement new services, it is possible to reach the unreachable and to dig into the neurological sides of consumers. By understanding this deeper, subconcious side of the consumer, it is possible to understand how to create a long-lasting effect in them. Using data and neuromarketing, it is possible to, at a big scale, determine what motivates a consumer to buy. This can then lead to understanding what products to offer and which market to offer it to increase the likelihood of adoption in its exposed market. The reason why new business ideas fail, or current business ideas get outgrown by the market is either due to the lack of product development, the selection of the incorrect targeted market, or the selection of an inadequate value proposition. If all these are not chosen with the consumer’s psycology on mind then the consumer believes he or she “needs” rather than “wants”, which generates a delay in the purchasing action. With the above in mind and using data-intense analytic studies, composed of fuzzy cognitive maps and concluding by deep learning models, it was possible to identify the key variables of the consumer motivation scale for all tourism products. In this way, opening the door to a new way of thinking. A neuromarketing-oriented marketing strategy that creates the “Why?” before anything else in product development, market development, or simply a product penetration goal. This strategy then allows businesses to start with the need or purpose they need to solve and the key variables the product needs to cover, to then release something to the market. In that way, the product will be something that the consumer psychologically, is already looking for. In this way, two different phases of the project were created where two different models were proposed. Then, through different deep learning models, one was selected and brought a consumer motivation scale as the final product.