Week 9 - Consumer behaviour and market research Flashcards
Why conduct market research if consumers don’t even know what they want?
Because we can still learn and observe why consumers purchase things that they said they don’t like.
How to observe why consumers do certain things?
Dig deeper - faster horse? why? - product level - benefits
What do consumers often fail to compare?
absolute savings to the value of time spent.
What strategies to marketers use to influence our behaviour?
“pack marketing” - showing us actions of others to convince us this is normal
What are more ethical ways marketers can influence our behaviours?
- Develop services/products that are easy to use
- Avoid phrasing which may discourage/confuse/offend customers
- Test product designs to determine probable consumer response
- Monitor consumer behaviour/take action where necessary
- Involve customers in the production of services/ products
- Lower price in the introductory stage
Should traditional focus groups still be used?
Not natural; consumers feel awkward.
However can be done well - eg. Go native - observe how people shower
What does CCP and TCP stand for?
CCP - crowdsourcing customer participation
TCP - traditional customer participation
What are the factors that determine whether you should use CCP or TCP?
- Requirements of non-verbal cues
- Availability of resources
- Commercial sensitivity
- Task specificity
- Ability to adopt emergent data management strategy
- Availability of active online brand communities
What are the key takeaways?
- Consumers are largely irrational decision makers
- Consumers are often unaware, and market research needs to discover real reasons for why they behave the way they do
- Whether crowdsourcing or more traditional market research methods are more powerful depends on a number of boundary conditions
