Customer Analysis & Market Requirements Flashcards
Different types of needs
Physical
Social
Psychological
How do we identify needs?
Market research
Business Intelligence
Key questions for identifying consumer
Who is important?
Where do they buy?
How do they buy?
When do they buy?`
What are their choice criteria?
Different types of people involved in a purchase
- Initiator – Begins by considering to solve a problem
- Influencer – Persuader
- Decider – Power and/or financial authority
- Buyer – Effectuates the purchase
- User – Consuming/using the product
Five stages of consumer decision making
Need regocnition
Search for information
Evaluation of alternatives
Purchase decision
Post purchase evalutation
4 types of choice criteria for making a purchase
Technical
Economic
Personal
Social
Buy phases for orginazations, decision making process
Recognition of problem
Determination of specification and quantity
Search for and qualification of potential sources
Acquisition and analysis of proposals
Evaluation of proposals and selection of suppliers
Selection of an order routine
Performance feedback and evaluation
Three buy classes
- New task – When the need has not occured previously
- Straight rebuy – Buys previously purchased items from ”old” suppliers
- Modified rebuy – Buys previously purchased items from ”new” suppliers
Sales in B2B, identify who..
- Who has authority
- Who can influence others
- Who has knowledge
- Who is the actual decisionmaker
- Who is who (who does what)
Internal continuous data is
- Financial data
- Profitability (product, customer, distribution channel)
- Customer behaviour
Internal ad-hoc data is
- Data for a specific/ad-hoc purpose
- Changes due to promotion activities
- Introduction of new products
Types of marketing research
- Ad-hoc research (one-time studies)
- Continuous research
Ethical issues in marketing research
- Intrusion of privacy – Regulations (GDPR)
- Misuse of findings – Looking to confirm something
- Selling while calling it marketing research
Exploratory research is
Preliminary exploration of a research area prior to the main data-collection stage to to avoid quality deficiencies (asking wrong people, the wrong questions, in too little detail) .
Research planning in three steps
Initial contact
Research brief
Research proposal