MGT252H5 Lecture Notes - Lecture 3: Consumer Behaviour, Qualitative Property, Big Data

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11 Feb 2016
School
Department
Course
Natalie Ianniello
MGT252
Hossain
September 22, 2015
Lecture #3 – Marketing Research and Consumer Behaviour
Consumer behaviour - to the buying behaviour of +nal consumers – individuals
and households who buy goods and services for personal consumption
All of these +nal consumers combine to make up the consumer market
Model of Buyer Behaviour:
Types of Value:
Economic value
Functional value
Experimental value
Social value
Example:
Toyota Prius (28,000) vs. Honda Accord (21,000)
Economic Value:
-Reduced cost acquisition and or consumption (i.e. cost of gas for prius is
lower)
-Total cost ownership
Functional Value:
-Enhanced tangible bene+ts such as features or choice depends on
functional values and weights (i.e. horsepower, materials used, etc.)
Experiential Value:
-Intangible psychological bene+ts (i.e. reliability, design, brand, service)
Social Value:
-Value from interaction with other users (i.e. social value)
Big Data:
Big data – just data called big data because there is a larger data set than we are
used to
Components of big data:
-Volume - number of objects, bytes (i.e. Walmart collect 2.5 petabytes of
data per hour) or multidimensional social network
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-Velocity - speed of data accumulation over time (real time, updating,
learning)
-Variety - multiple types of data (i.e. Behavioural data, query (intention)
data, Qualitative and quantitative, Secondary or primary)
Marketing Research on Consumer Behaviour:
Marketing research - collect information to help marketing decisions
Types of marketing research:
-Secondary data - information initially collected for other purposes (already
available much cheaper, collected for di=erent purposes)
-Primary data - information collected for current marketing decisions
Questions for marketing research:
1. Which types of values do consumers consider in purchase decisions?
2. Why do they value these features?
3. What is the relative importance of each value? How well does each product do
on each feature?
Question 1:
Primary and qualitative research
-Individual depth interview (an interviewer)
-Focus group (8-10 people, and a moderator)
-Use focus group if interactions are productive in generating insights
Small sample
Results
-Qualitative data: list of features
Question 2:
Primary qualitative motivation research (laddering technique – asking why why
why)
Small sample
Results:
-Qualitative data: ladders connection features, bene+ts and needs
-No statistical analysis
Uncovering Hidden Motivation: (Evian Water)
Laddering:
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