ALA101 Lecture Notes - Lecture 7: Disposable And Discretionary Income, Natural Environment, Eye Tracking
WEEK 7: Insight driven research
Humans love dogs
Overview
- Why advertising professionals need research
- Forms of research used in advertising
- Peest analysis
- Research sources
- Evaluation
Why do we research
- Understanding the consumers world
- Know your audience
- Considering advertisings impact on the consumer
- Research is the basis for a brand communication plan
- Consumer insights
- Research has never been more important
- Psychology
- Markets are more fragmented, more difficult to communicate with
- Consumers want (demand) more and have more choices
- Disruption is the norm (uber and Airbnb)
- Understand trends and other companies
Types of research
- Market information
oConsumer information regarding a particular market
oAlso, explores the environmental conditions of that market, not as obvious, broadly,
the economy, social trends, changes in tech
oRoy Morgan, research organization
oEnvironmental conditions
PEEST analysis
Political- what are the future legislative/political changes?
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Document Summary
Research is the basis for a brand communication plan. Markets are more fragmented, more difficult to communicate with. Consumers want (demand) more and have more choices. Market information: consumer information regarding a particular market, also, explores the environmental conditions of that market, not as obvious, broadly, the economy, social trends, changes in tech, roy morgan, research organization, environmental conditions. Political the accc is closely watching retailers with regard to their dealings with suppliers (cloutman, 2018), push them down on price (farmers) Economic disposable income is predicted to increase with consumers having more money to spend (cloutman, 2018) and there is currently high consumer confidence (roy morgan research, 2018) Sociocultural there is demand for higher priced, gourmet products and private label foods, yet consumers are also looking for healthy living options and fresh food meal kits (cloutman 2018), don"t have time to cook, but want healthy options.
