August 18 1st
So, what's consumer behavior all about? We'll look at how things like packaging, nutrition info, and price for a product (like Smucker's Uncrustables with its 210\,\text{calories} and 8\,\text{g} protein) make people decide to buy or not buy. It's all about interpreting those signals!
Smucker's spent a ton of money on Uncrustables because they're super popular and growing fast, aiming for 1\,\text{billion} in sales! They even had to build new plants to keep up. This shows how crucial it is for companies to produce enough to meet demand and make sure their products are available.
In an interview, Smucker's CEO, Mark Smucker, talked about growing the company (like expanding Uncrustables and buying Hostess Brands because 70\%
of people snack twice a day!). He also touched on being fair with pricing, promoting diversity, and even his DJ hobby, showing how a leader balances business strategy with being relatable.
We'll think about who buys Uncrustables (like busy parents or snackers), what other options they have (other sandwiches, fruit, homemade meals), and what makes them choose Uncrustables (taste, convenience, price, nutritional info).
Consumer behavior is a mix of external and internal stuff. External forces are things outside us like our culture, family, friends, and even marketing ads. Internal forces are inside our heads, like our perceptions, memories, feelings, and personality. All these things combine to influence how we make buying decisions for products like Uncrustables!