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

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Lecture #3 marketing research and consumer behaviour. Consumer behaviour - to the buying behaviour of inal consumers individuals and households who buy goods and services for personal consumption. All of these inal consumers combine to make up the consumer market. Reduced cost acquisition and or consumption (i. e. cost of gas for prius is lower) Enhanced tangible beneits such as features or choice depends on functional values and weights (i. e. horsepower, materials used, etc. ) Intangible psychological beneits (i. e. reliability, design, brand, service) Value from interaction with other users (i. e. social value) Big data just data called big data because there is a larger data set than we are used to. Volume - number of objects, bytes (i. e. walmart collect 2. 5 petabytes of data per hour) or multidimensional social network. 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)

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