Consumer Behavior Research

Presented by: Prateek Godara

Definition of Consumer Behavior

Individuals or groups acquiring, using and disposing of products, services, ideas, or experiences Includes search for information and actual purchase Includes an understanding of consumer thoughts, feelings, and actions

Consumer Research
The systematic and objective process of gathering, recording, and analyzing data for aid in understanding and predicting consumer thoughts, feelings, and behaviors. In a global environment, research has become truly international.

Important Factors in Consumer Research

Speed The Internet Globalization

Types of Consumer Research

Basic Research

To expand knowledge about consumers in general When a decision must be made about a real-life problem

Applied Research

The Consumer Research Process

Defining the Problem and Project Scope The Research Approach The Research Design Data Collection Data Analysis and Interpretation Report

Production Concept

Focus on Production View of consumers:

They will buy as long as the product is available and affordable. Demand higher than supply Non-competitive product cost

Focus on production justified:

Selling Concept

Focus on selling View of consumers:

We have to sell to them or else they wont buy. Introductory stages of product life cycle

Focus on selling justified:

Marketing Concept

Focus on marketing

Creating mutually rewarding exchange relationships Consumer needs and wants have priority They will buy if you fulfill their needs better than the competition.

View of consumers:

Market Research: Research Designs

Exploratory Research (Formulative) Descriptive Research (Statistical) Causal Research

Market Segmentation Bases

Demographic Geographic Benefit Usage Lifestyle

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