Chapter 3: From Exposure to Comprehension

Exposure

Dollar Tree is an extreme discount store because its prices do not exceed more than a dollar as it says in the brand name. Recently it has been decided that most items will increase from $1 to $1.25 by the end of the first quarter of 2022. This will help Dollar Tree return to its usual profit margin of around 35% for 2022. The change in price is a risky decision because their loyal consumer base has been used to the $1 price for thirty-six years. Their online ads that state that their prices are now up to $1.25 can affect their sales and how they do their marketing because their brand name states prices do not exceed a dollar.

Dollar Tree mainly does direct marketing, like sending emails that expose and promote their products and in-store deals. They spent under one hundred million on digital advertising and print in 2021. Exposing their in-store deals is eyecatching and can make more consumers shop because they are letting their customers know prices are lower than usual for some products.

Attention

Dollar Tree provides low prices and a variety of products in their store which is why it is a convenient one-stop-shop. They switch up their merchandise to catch the customer's attention. They sell what is in season like for Christmas they sell more Christmas-themed items. For November they sell more fall and Thanksgiving-themed merchandise. This is eyecatching to the customer because the store's merchandise changes according to season meaning that is constantly selling new items every year.

Comprehension

Dollar Tree has a mission which is to be a "customer-oriented, value-driven variety store. The company's mission will be consistent with measured and profitable growth." Although the mission statement states what Dollar Tree is about, it should probably be changed to a friendlier statement. The last statement makes it seem like they look at their customers like a dollar sign which they are but it is not welcoming.

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Chapter 5: Attitudes Based on High Effort

In order to keep with changing trends in the market, marketers need to help consumers form positive brand attitudes based on new beliefs and associations. These beliefs have a huge influence for customers on buying decisions. Dollar Tree was able to have a big influence on changing people's attitudes when it came to the products that they were offering. When the Covid-19 pandemic first hit, a lot of customers we're flooding the stores to get their hands on the desired products that they thought they needed due to the lockdowns that were placed. Due to the huge wave of customers hitting stores, a lot of desired products went out of stock real quick. Dollar Tree ended up benefiting from this because a lot of stores were running out of stock of a lot of products so customers had to turn to different alternatives. One of the hottest commodities during the pandemic was toilet paper. A lot people went overboard and ended up buying more than what they needed at big named retailers....

Chapter 14: Psychographics: Values, Personality, and Lifestyles

Examines the effect of these cultural influences on an individual level - namely, on values (deep-held beliefs), personality (consumer traits), and lifestyles (behavioral patterns that are manifestations of values and personality. (Mintap) Values According to the textbook, values are "enduring beliefs about abstract outcomes and behaviors that are good or bad, such as health, independence, family life, and peace." Shaping this into the dollar tree, most of society's pre-pandemic had a lower value view on the dollar tree but compared to now, it is encouraged to shop at a dollar store. The dollar tree may not hold a high materialistic value, but it allows for more sentimental value. With D.I.Y becoming a trend, many handmade gifts have held a higher value for some. Dollar Tree will enable customers to express their emotions fully. Personality Personality is customers' patterns that they may have picked up from growing up or from their parents. Researching and understand...

Chapter 9: Judgment and Decision-Making Based on Low Effort

In a recent post, we analyzed the high effort decision making, in which we went into depth about how labels and packing can influence customers' minds into buying a product. On the other hand, Low effort judgment and decision-making is how little time a customer spends choosing a product. The textbook states, " In some low-effort situations, consumers may decide without being consciously aware of how or why they are doing so. As much as 50 percent of all shopping decisions are made spontaneously and unconsciously while consumers are in the store." ( Unconscious Low-Effort Decision-Making) When a customer shops at a Dollar Tree, they know the item's quality will not be at the high end. The customer expects a convenience store where the options are not different and are equal in price. This allows the customer to go into an unconscious state where they can purchase their needs without putting much thought into them. Dollar Tree is the perfect store for those who do not...

Dollar Tree

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