MARK217 Lecture 2: Lecture 2
Document Summary
Consumer research: chapter 2 (no longer chapter in the textbook) Embracing the marketing concept: consumer research is used to, gain a better understanding of consumption behaviour. Identify and locate appropriate target markets, and to understand their media habits. Identify both felt and unfelt (latent) needs: determine how consumers perceive products, brands and stores. Identify how and why they make their consumption decisions. Why is research important: consumer research is about either predicting cb or understanding cb. Investigating people (consumers) and their environment - and how they make decisions (to buy our brand) The importance of understanding consumer behaviour by undertaking marketing research: marketing concept - understand consumers, to get the right answer you need to ask the right questions! To the right people: here are some examples. Intuition versus hard facts: management intuition is not always right, biased perspective - heightened involvement with the product category, objective information is preferred! How do you obtain good information to base your.
