CONDUCTING MARKET

RESEARCH
data.
Other Qualitative Research Approaches to get inside the consumer’s
minds and find out what they think or feel about brand s and products include:
Table 4.1
Table 4.1.
 Earth’s
Population
by2010 :
6.8B and
will exceed
9B by 2040
 Consumer Psychology
Components:

• Views of ourselves – “pleasure seekers” ; “self-realization” (table 3.4)

• Views of others - concern about the homeless, crime and victims and
other social problems.; suggest a growing market for social-sup[ort
products and services such as health clubs, cruises and religious activities.
• Views of organization – companies need new ways to win back
consumer and employee confidence and ensure good corporate citizens.
• Views of society – consumption patterns often reflects social attitudes
• preservers – defend society 9eat, dress, and live well)
• makers – runs it
• takers - take what they want from it
• changers – want to change it (frugal spending)
• seekers – looking for something deeper
• escapers – want to leave it (movies, music, surfing, camping)

• Views of natrure – business response to the increased awareness of the

fragility of nature.
• Views of the universe –religious convictions
In summary:
In analyzing your macro environment, you have to analyze the needs and
trends (fads, trends and megatrends) and identify and respond to the major
forces of the environment: What are these environment?
1. Demographics
- worldwide population growth
- population age mix
- enthic markets
- educational groups
- household pattterns
-geopgrahic shift in popuylation
- shifts from mass markets to macro markets
2. Economic
- Income distribution
- Consumer psychology
- Savings, debt and credit availability
In summary:
3. Narural
- shortage of raw materials
- increased energy costs
- increased pollution levels
- changing role of governments
4. Technological
- acellerating pace of technological change
- unlimited opportunities for innovation
- varrying R & D budgets
- increased regulation of technological change
5. Political-legal
- increased in business legislation
- growth of special interest group
6. Socio-cultural
- different views at the Macro environment