Textbook Notes (367,747)
Canada (161,363)
MCS 2600 (65)
Chapter 2

Chapter 2 Consumer Behaviour Notes

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Marketing and Consumer Studies
MCS 2600
Lianne Foti

Chapter 2 Consumer Behaviour Notes The Consumer Research ProcessPSHUDWLYHWRRQGXFWRQVXPHU5HVHDUFK Involves psychology sociology and anthropologyStudying consumer behaviour enables marketers enables marketers to predict or anticipate how marketers might better meet consumer needsTo meet challenges of todays business world there has been a rapid increase n interest in executing more crosscultural or regional consumer behaviour studies Q2YHUYLHZRIWKHRQVXPHU5HVHDUFK3URFHVVPrimary ResearchNew research especially designed and collected for purposes of a current research problem 2 Categories 1 Qualitative Research Eg Focus groups in depth interviews etc 2 Quantitative Research Eg Observational research experimentation survey researchHYHORSLQJ5HVHDUFK2EMHFWLYHV st The 1 and hardest step in the consumer research process is to accurately define the objectives of the research Is it to examine consumer attitudes towards online shopping ROOHFWLQJ6HFRQGDUDWD nd2 step in consumer research process is to search for the availability of secondary data Secondary data is already existing information Internal Secondary DataCould consist of previously existing inhouse information that was initially used for some other purposeCompanies use internal secondary data to compute customer lifetime value profiles for various segments These profiles include customer acquisition costs profits generated from them etc External Secondary DataSources come from outside the organization Some are free and can be found at public library other is available for a fee PublicGovernment Secondary DataCollected by government bodies or their agenciesavailable usually for nominal cost E
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