What women want Flashcards
What is Consumer Behaviour?
The behaviour that consumers display in searching for, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs.
- Schiffman, et al. (2011)
Why do marketers need to understand consumers?
To:
* Provide value to customers
* Ensure customer satisfaction
* Build trust
* Retain customers
What is the definition of customer value?
The ratio between perceived benefits and the resources used to obtain those benefits.
What is customer satisfaction?
The consumer’s perception of the product or service performance relative to his expectations.
What is the importance of trust in marketing?
Trust is the foundation for maintaining a long-standing relationship with customers.
What is market segmentation?
The process of dividing a market into subsets of consumers with common needs or characteristics.
What are the four types of market segmentation variables?
- Geographic Variables
- Demographic Variables
- Psychographic Variables
- Behavioural Variables
List examples of geographic variables used in market segmentation.
- Region
- City Size
- Density
- Climate
List examples of demographic variables used in market segmentation.
- Age
- Family Size
- Gender
- Income
- Occupation
- Education
- Religion
- Race
- Nationality
- Generation
List examples of psychographic variables used in market segmentation.
- Lifestyle
- Activities
- Interests
- Opinions
- Values
- Personality
- Social Class
List examples of behavioural variables used in market segmentation.
- Occasions
- Benefits Sought
- User Status
- Usage Rate
- Brand Loyalty
- Readiness Stage
- Attitude Towards Product
What is the significance of creating meaningful segmentation profiles?
It helps marketers understand and target specific consumer groups more effectively.
What is primary research?
Original research conducted by you or someone you hire to collect data specifically for your current objective.
What is secondary research?
Searching for existing data that was originally collected by someone else.
What are some methods of primary research?
- Surveys
- In-Depth Interviews
- Focus Groups
- Experiments
- Observational Research
What is the advantage of primary research?
It is specific to your needs and you control the quality.
What is a disadvantage of secondary research?
Data can be too old and/or not specific enough for your needs.
What is the function of focus groups in primary research?
A discussion group that consists of a few respondents to discuss a subject thoroughly.
What is observational research?
It consists primarily of observing consumer behaviours in different situations, in natural or artificial settings.
What are the key aspects of consumer behaviour in the obtaining phase?
- How do consumers decide what they want to buy?
- Where do they buy?
- How do they pay for it?
What are the key aspects of consumer behaviour in the consuming phase?
- How do they use the product?
- How do they store it?
- How much of the product do they use?
What are the key aspects of consumer behaviour in the disposing phase?
- How do they get rid of the remaining?
- How do they recycle?
How can segmentation help target the right profile of women consumers?
By identifying specific groups within the broader market that share common characteristics.
What is the outcome of understanding consumer needs?
Companies can develop marketing strategies to meet the consumer’s wants and needs.
True or False: It is more cost-effective to retain existing customers than to acquire new ones.
True
What is shadowing in market research?
Researcher accompanies consumer through the shopping and consumption process.
What are physiological measures in primary research?
Measures that gauge physiological reactions, including:
* Eye Tracker
* Face Reader
* Electroencephalogram (EEG)
What is internal secondary data?
Previously collected in-house information originally used for another purpose.
What is external secondary data?
Data from public or government databases, including:
* Government records
* Periodicals and articles from online services
What happens when market research is not done well?
Companies may not understand consumers, leading to:
* Poor product development
* Ineffective marketing
* Potential issues with customer engagement
What percentage of women in Singapore own a fitness/activity tracker?
43% of women.
What is the rationale for conducting focus groups?
To find out where women want to buy products, if they exchange older models, and the environments they use products in.
What type of research method involves observing how consumers use products?
Observational research.
What are some suggested features for smartwatches targeted at women?
Smartwatch needs to be:
* Lightweight
* Functional
* Smaller
* Compatible with both Android and iOS
What is the motto of the ‘Trailblazers’ segment?
‘I want to stand out from the crowd.’
What is a suggested activity for the ‘Social-siders’ segment?
Organize Instagram contests for Fitbit customers.
What is the focus of the survey conducted on women regarding smartwatches?
To find out the factors they look for when purchasing smartwatches.
Fill in the blank: The value of market research is to help companies understand _______.
[consumers and their behavior]
What are the types of segmentation variables?
Segmentation variables include:
* Geographic
* Demographic
* Psychographic
* Behavioural
What are primary research methods?
Methods include:
* Surveys
* In-depth interviews
* Focus groups
* Experiments
* Observational research
* Physiological measures
What is the significance of understanding consumer behavior?
Key to planning and managing the ever-changing marketing environment.
What is the importance of consumer insights?
Helps companies reach out to consumers successfully.
True or False: Women are more likely than men to experience cognitive dissonance.
True.
What are the four primary research methods?
Survey, In-depth Interviews, Focus Groups, Experiments
Additional methods include Observational Research and Physiological Measures.
What is the difference between internal and external secondary data?
Internal secondary data comes from within the organization, while external secondary data is sourced from outside the organization.
Understanding this distinction is crucial for effective research analysis.
Fill in the blank: The primary research method that involves gathering data through direct questioning is called _______.
Survey
What is observational research?
A primary research method where data is gathered by observing subjects in their natural environment.
This method allows researchers to see actual behavior rather than reported behavior.
True or False: Focus groups are a method of secondary research.
False
Focus groups are considered a primary research method.
List three types of secondary research limitations.
- Data may be outdated
- Data may not fit specific research needs
- Quality of data can vary
These limitations can affect the reliability of findings.
What is the role of physiological measures in primary research?
They assess biological responses to stimuli, providing insights into consumer behavior.
Examples include measuring heart rate or brain activity.
Fill in the blank: The method of primary research that collects data by interviewing individuals in detail is called _______.
In-depth Interviews
What is the purpose of experiments in primary research?
To establish cause-and-effect relationships by manipulating variables.
This method often involves control and experimental groups.
What is a focus group?
A qualitative research method where a small group discusses a topic guided by a moderator.
Focus groups are useful for exploring consumer attitudes and perceptions.
What are the main components of the concept diagram for primary and secondary research?
Primary Research, Secondary Research, Internal Secondary Data, External Secondary Data
This diagram helps to visualize the relationships between different types of research.
