Podcast
Questions and Answers
Which of the following best describes the role of qualitative approaches in understanding consumer behavior, as emphasized in the course?
Which of the following best describes the role of qualitative approaches in understanding consumer behavior, as emphasized in the course?
- To determine the optimal pricing strategy for a new product launch.
- To predict future market trends using regression models.
- To gain in-depth insights into consumer decision-making processes through methods like interviews and observations. (correct)
- To quantify consumer preferences through statistical analysis.
A car manufacturer notices that their primary customer base is aging. Which of the following strategies would best address this demographic shift, based on the principles discussed?
A car manufacturer notices that their primary customer base is aging. Which of the following strategies would best address this demographic shift, based on the principles discussed?
- Ignoring the demographic shift and focusing on the existing customer base.
- Increasing prices to cater to the perceived wealth of the aging demographic.
- Redesigning the car's appearance and adjusting marketing to appeal to younger, more adventurous consumers. (correct)
- Maintaining the current marketing strategy, as older customers are more loyal.
A snack food company wants to increase sales of its product. According to the examples provided, which advertising strategy would MOST likely be effective?
A snack food company wants to increase sales of its product. According to the examples provided, which advertising strategy would MOST likely be effective?
- Positioning the snack as a healthy dessert alternative.
- Advertising the snack as a convenient way to satisfy hunger between meals. (correct)
- Promoting the snack as a luxury item for special occasions only.
- Highlighting the product's high sugar content for energy.
When are consumers LEAST likely to demonstrate brand loyalty, based on the examples?
When are consumers LEAST likely to demonstrate brand loyalty, based on the examples?
What is the ultimate goal of understanding the consumer decision process?
What is the ultimate goal of understanding the consumer decision process?
A company is preparing to launch a new product. What should they prioritize to understand consumer purchase decisions effectively?
A company is preparing to launch a new product. What should they prioritize to understand consumer purchase decisions effectively?
Which of the following methods is MOST suitable for gaining an in-depth understanding of the emotional factors influencing a consumer’s purchase of a luxury watch?
Which of the following methods is MOST suitable for gaining an in-depth understanding of the emotional factors influencing a consumer’s purchase of a luxury watch?
A business is trying to understand why a particular marketing campaign failed to resonate with its target audience. Which approach would provide the MOST valuable insights?
A business is trying to understand why a particular marketing campaign failed to resonate with its target audience. Which approach would provide the MOST valuable insights?
A company wants to understand general consumer attitudes towards electric vehicles before launching a new model. Which research approach would be most suitable?
A company wants to understand general consumer attitudes towards electric vehicles before launching a new model. Which research approach would be most suitable?
A luxury car brand observes that their vehicles appear 'cheap' at exclusive boat shows. Which type of research is exemplified by this observation?
A luxury car brand observes that their vehicles appear 'cheap' at exclusive boat shows. Which type of research is exemplified by this observation?
A clothing retailer wants to understand how teenagers interact with their products in a real-world setting. Which research method should they employ?
A clothing retailer wants to understand how teenagers interact with their products in a real-world setting. Which research method should they employ?
Which of the following is the FIRST step a company should take when determining a research design for a new project?
Which of the following is the FIRST step a company should take when determining a research design for a new project?
A marketing team is gathering data on market size by looking at government reports and academic journals. What type of research are they conducting?
A marketing team is gathering data on market size by looking at government reports and academic journals. What type of research are they conducting?
A company is launching a new line of luxury chocolates. Which marketing approach would most effectively appeal to consumers' hedonic desires?
A company is launching a new line of luxury chocolates. Which marketing approach would most effectively appeal to consumers' hedonic desires?
Which type of data is best suited for identifying emerging trends and patterns in customer behavior?
Which type of data is best suited for identifying emerging trends and patterns in customer behavior?
According to the information, why do many businesses primarily focus on targeting consumer 'wants' rather than 'needs'?
According to the information, why do many businesses primarily focus on targeting consumer 'wants' rather than 'needs'?
A market research brief should EXCLUDE which of the following elements?
A market research brief should EXCLUDE which of the following elements?
A company selling energy drinks releases an advertisement featuring athletes achieving peak performance. According to the theory of planned behavior, what cognitive component is this advertisement primarily trying to influence?
A company selling energy drinks releases an advertisement featuring athletes achieving peak performance. According to the theory of planned behavior, what cognitive component is this advertisement primarily trying to influence?
What is an alternative term for secondary research?
What is an alternative term for secondary research?
A company that manufactures cleaning products is trying to appeal to consumer attitudes. Which marketing strategy would be most effective in creating a positive attitude toward their brand?
A company that manufactures cleaning products is trying to appeal to consumer attitudes. Which marketing strategy would be most effective in creating a positive attitude toward their brand?
A retail store is redesigning its layout to improve the 'physical evidence' aspect of the 7Ps of marketing. Which change would most directly address this?
A retail store is redesigning its layout to improve the 'physical evidence' aspect of the 7Ps of marketing. Which change would most directly address this?
Which of the following is the BEST example of how technological advancements can impact consumer behavior, considering macro factors?
Which of the following is the BEST example of how technological advancements can impact consumer behavior, considering macro factors?
How might a significant increase in inflation rates MOST directly affect consumer behavior, according to economic factors?
How might a significant increase in inflation rates MOST directly affect consumer behavior, according to economic factors?
Considering personal factors, how does 'conscientiousness' from the Big Five personality traits MOST likely influence a consumer's purchasing decisions?
Considering personal factors, how does 'conscientiousness' from the Big Five personality traits MOST likely influence a consumer's purchasing decisions?
A marketing campaign featuring a celebrity endorsement is MOST directly appealing to which of the following social factors?
A marketing campaign featuring a celebrity endorsement is MOST directly appealing to which of the following social factors?
How would a collectivist culture MOST likely influence consumer behavior in comparison to an individualistic culture?
How would a collectivist culture MOST likely influence consumer behavior in comparison to an individualistic culture?
If a government imposes new tariffs on imported goods, which of the following outcomes is MOST likely, considering macro factors?
If a government imposes new tariffs on imported goods, which of the following outcomes is MOST likely, considering macro factors?
How does a consumer's level of 'openness to experience' from the Big Five personality traits MOST likely influence their attitude towards new product innovations?
How does a consumer's level of 'openness to experience' from the Big Five personality traits MOST likely influence their attitude towards new product innovations?
Which scenario BEST illustrates the impact of a reference group on consumer behavior?
Which scenario BEST illustrates the impact of a reference group on consumer behavior?
A researcher aims to understand consumer behavior related to a new product launch. They have limited time and resources. Which primary research method would be most suitable for gathering initial insights from a diverse group of potential customers?
A researcher aims to understand consumer behavior related to a new product launch. They have limited time and resources. Which primary research method would be most suitable for gathering initial insights from a diverse group of potential customers?
A marketing team wants to deeply understand the motivations and decision-making processes of individual consumers when purchasing luxury goods. Which research method would provide the most detailed and nuanced insights?
A marketing team wants to deeply understand the motivations and decision-making processes of individual consumers when purchasing luxury goods. Which research method would provide the most detailed and nuanced insights?
Which of the following sampling methods is LEAST likely to produce a representative sample of a population?
Which of the following sampling methods is LEAST likely to produce a representative sample of a population?
A researcher is studying online consumer behavior. Which method would be most appropriate for understanding how users navigate a website and interact with its features?
A researcher is studying online consumer behavior. Which method would be most appropriate for understanding how users navigate a website and interact with its features?
A company is launching a new line of eco-friendly cleaning products and wants to identify potential opinion leaders who can influence consumer adoption. Which sampling approach would be most effective?
A company is launching a new line of eco-friendly cleaning products and wants to identify potential opinion leaders who can influence consumer adoption. Which sampling approach would be most effective?
A researcher wants to understand the cultural influences on consumer purchasing decisions in different countries. Which research approach would be most suitable?
A researcher wants to understand the cultural influences on consumer purchasing decisions in different countries. Which research approach would be most suitable?
A company is trying to determine how changes in the design of their product packaging will affect consumer perception. Which research method would be most effective for gathering this data?
A company is trying to determine how changes in the design of their product packaging will affect consumer perception. Which research method would be most effective for gathering this data?
A researcher is investigating the impact of social media on teenage fashion choices. Which research method would be most suitable for understanding the nuances of this influence?
A researcher is investigating the impact of social media on teenage fashion choices. Which research method would be most suitable for understanding the nuances of this influence?
Which scenario would benefit MOST from using observational research rather than relying solely on surveys or interviews?
Which scenario would benefit MOST from using observational research rather than relying solely on surveys or interviews?
A company that sells software is trying to get feedback for a new user interface. They have the resources to conduct any type of primary research, and wants to quickly iterate on their design. Which method would be most useful?
A company that sells software is trying to get feedback for a new user interface. They have the resources to conduct any type of primary research, and wants to quickly iterate on their design. Which method would be most useful?
In the SOSTAC framework, what is the primary purpose of conducting a situation analysis?
In the SOSTAC framework, what is the primary purpose of conducting a situation analysis?
A consumer consistently purchases the same brand of coffee without much thought or research. According to consumer behavior types, this is an example of what?
A consumer consistently purchases the same brand of coffee without much thought or research. According to consumer behavior types, this is an example of what?
When are consumers most likely to exhibit variety-seeking behavior?
When are consumers most likely to exhibit variety-seeking behavior?
A consumer is considering buying a new laptop. They compare specifications, read reviews, and seek recommendations before making a decision. Which type of involvement is this?
A consumer is considering buying a new laptop. They compare specifications, read reviews, and seek recommendations before making a decision. Which type of involvement is this?
What is the primary motivation for consumers to look at product ratings and reviews before making a purchase?
What is the primary motivation for consumers to look at product ratings and reviews before making a purchase?
A luxury watch is purchased after extensive research and deliberation. However, another consumer purchases a basic watch with little to no research, simply to tell time. What does this illustrate about involvement continuum?
A luxury watch is purchased after extensive research and deliberation. However, another consumer purchases a basic watch with little to no research, simply to tell time. What does this illustrate about involvement continuum?
Which of the following statements represents how rational and emotional factors influence consumer decision-making?
Which of the following statements represents how rational and emotional factors influence consumer decision-making?
A company is deciding whether to focus on improving existing products or innovating entirely new ones. Which aspect of the SOSTAC framework would best guide this decision?
A company is deciding whether to focus on improving existing products or innovating entirely new ones. Which aspect of the SOSTAC framework would best guide this decision?
Flashcards
Consumer Behavior Course Goals
Consumer Behavior Course Goals
Understanding consumer behavior, data collection, and analysis to understand consumer purchase decisions.
Qualitative Market Research
Qualitative Market Research
Qualitative methods to understand consumer behavior and the decision-making process.
Influences on Consumer Decision Process
Influences on Consumer Decision Process
Factors that influence a consumer's decision-making when purchasing products/services.
Demographics
Demographics
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Mercedes Demographic Challenge
Mercedes Demographic Challenge
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Snickers Marketing Strategy
Snickers Marketing Strategy
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Brand Loyalty
Brand Loyalty
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Flight Purchase Factors
Flight Purchase Factors
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Descriptive Research
Descriptive Research
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Casual Research
Casual Research
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Observational Research
Observational Research
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Ethnographic Research
Ethnographic Research
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Primary Research
Primary Research
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Secondary Research
Secondary Research
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Qualitative Research
Qualitative Research
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Quantitative Research
Quantitative Research
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SOSTAC
SOSTAC
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Variety-Seeking Behavior
Variety-Seeking Behavior
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Habitual Buying Behavior
Habitual Buying Behavior
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Low-Involvement Purchases
Low-Involvement Purchases
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High-Involvement Purchases
High-Involvement Purchases
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Involvement Continuum
Involvement Continuum
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Dual Process Decision Making
Dual Process Decision Making
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Risk Reduction via Ratings
Risk Reduction via Ratings
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Focus Group
Focus Group
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Observation
Observation
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Sampling
Sampling
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In-depth Interviews
In-depth Interviews
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External Influences
External Influences
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Internal Influences
Internal Influences
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Consumer behavior
Consumer behavior
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Culture
Culture
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Social Class
Social Class
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Hedonic
Hedonic
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Utilitarian
Utilitarian
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Wants
Wants
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Attitude
Attitude
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7 P's of Marketing
7 P's of Marketing
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Macro factors
Macro factors
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Economic factors
Economic factors
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Personal factors
Personal factors
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The Big Five
The Big Five
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Openness
Openness
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Conscientiousness
Conscientiousness
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Extraversion
Extraversion
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Social Factors
Social Factors
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Study Notes
Consumer Behaviour Course Requirements
- Efficient business skills are a must
- Understanding the factors that affect consumer behaviour is crucial
- Collecting and analyzing data is essential to understand consumer purchase decisions
- Diagnosing decision stages, identifying key players, understanding decision criteria, and finding credible sources of information is important
Övergripande Beskrivning
- Consumer behavior can be understood through qualitative methods, like interviews, observations and videography
- Students are taught how to conduct a qualitative market research, from start to finish
- Students will know the main influences on decisions
- Participants learn to analyze and create advice for consumer purchases
- Examples are used from individual and corporate sectors to demonstrate
Session 1 Introduction
- Important to attend lectures, and be respectful
- Check online course materials and recommended reading
- Work effectively in groups and ask questions
- Self care is necessary
Assessments and Exams
- There will be 2 assessments and then an exam
- 20% of the total grade is individual assessment
- There will be a multiple-choice test on theory, including open and closed questions
- The assessment will be theory on Sessions 1-6
- Due date is 10/02/2025
- The second assessment is the group assignment and is 20% of the total grade
- Work in pairs as a marketing agency for a student product/service client
- A 10-minute presentation is required on 17th March
- The presentation should cover:
- Intro products/services
- Market research, including desk research and 5+ audience interviews.
- Analysis of research, persona development and customer journey
- Understanding of the audience (wants, needs, attitudes etc.)
- Adapting the marketing mix explained
- Two campaign ads in both video and billboard formats with approach justification
- The exam is 60% of grade and covers class materials.
Consumer behavior
- Consumer behaviour examines people's buying and spending habits and trends through data and research
- Consumer behaviour answers questions about customer demographics:
- Who are they, what they want/need, when and where they buy, and how they use products.
- It is important to understand why people buy things and what influences them
- It has connections to psychology
- For Mercedes, understanding a aging demographic, changes car design to attract younger buyers
- Snickers are advertised as snacks, more accepted than daily dessert
- States that “you are not you when you're hungry”, implying it helps hunger, not a treat.
Why Consumer Behaviour is Important
- Demographics: Determine the target audience's specifics, like age, gender, likes, and income
- Competitors: Understand consumer perception of competitors, popular brands, and in-demand products to gain competitive insights
- Brand: gauge consumer loyalty and business reputation
- Products and services: Determine why consumers pick one product/service over another
- Habits: analyze how much search and purchase frequency affect consumer habits
- Influences: What are the cultural and social factors that affect behavior
Consumer Loyalty
- Cost is most likely to influence airline purchases
- Some feel brand loyalty to Samsung
- SOSTAC: a framework for planning
- Situation Analysis: involves analyzing the current market position, customers, competitors, and internal capabilities
- Objectives - Setting clear, measurable goals for what an organizations aims to achieve
- Strategy - Developing approaches to reaching objectives, including target market selection and positioning
- Tactics - using specific methods
- Action - Creating detailed plans that specify who does what, when and how.
- Control - Establishing metrics and KPIs in order to track performance and make adjustments as needed.
- Performing a situation analysis is key and tracking society's interests
- Those focused on touchscreens thrived while BlackBerry’s keyboard focus didn't.
Four Types of Consumer Behaviour
- Complex buying behaviour, variety seeking buying behaviour, dissonance reducing buying behaviour, habitual buying behaviour.
- Variety seeking buying behaviour
- Little thought into purchased decisions
- This is brand switching
- Low cost of switching between products and brands
- Consumers switch on a whim
- Goal of marketers is create to habitual buyers by maximizing retailers and providing advertising campaigns and coupons
Complex buying behaviour
- Expensive product or service and many options available
- Rare expense
- Consumers spend a lot
- Conduct own research and consult other as part of the process
- Extensive knowledge is needed
Habitual buying behaviour
- Consumers purchase the same brand
- See little difference
- Comes down to price
- Marketers will use visual ads to build brand familiarity, as well as discounts that encourage buyers
Dissonance-reducing buying behaviour
- Important purchases
- Consumers struggle and have a limited amount of information
- Can unsettle consumers.
- Post-support campaigns
- New tech users
- Brand loyalty, encourage repeat purchase, and help customer retention.
Involvement continuum
- Consumer interest in buying product
- Low-involvement products will be low risk
- Ranges from inertia through to high involvement
- Celebrities or the Harley tattoo can dictate this
Buying Decision Behavior
- Routine Response behavior: Low cost
- Familiar products with little research
- Extensive problem solving behavior: High
- Unfamiliar product with a great deal of research
- Limited problem solving: Lies in-between
- Emotional purchases are feelings and desires rather than logical reasoning
- Brand appeal or status
- Rational purchases: Necessity, value and functionality
Right/Left Brain
- Consumers can be concerned about the emotional impact of their purchasing decisions
- Financial risk reduction: Offering a price guarantee
- Performance risk reduction: Offering product demonstrations
- Social risk reduction: Brands can offer products that are endorsed by social acceptable figure
- Time risk reduction: Making a purchase easier
Different consumer contexts
- Customer: Buys goods or services, not the end consumer
- Consumer: Buys and us
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Description
Quiz questions covering consumer behavior, marketing strategies, brand loyalty, and understanding consumer purchase decisions. Explores qualitative approaches, demographic shifts, and emotional factors.