Podcast
Questions and Answers
A company aims to increase product involvement among its consumers. Which strategy would likely be MOST effective in achieving this?
A company aims to increase product involvement among its consumers. Which strategy would likely be MOST effective in achieving this?
- Simplifying the product's features to ensure ease of use and minimize learning curves.
- Implementing a marketing campaign that focuses solely on the product's functional benefits.
- Reducing the product's price to make it more accessible to a broader audience.
- Collaborating with influencers to create excitement and build a community around the product. (correct)
A consumer consistently purchases the same brand of coffee beans, despite the availability of cheaper and equally rated alternatives. This behavior BEST exemplifies:
A consumer consistently purchases the same brand of coffee beans, despite the availability of cheaper and equally rated alternatives. This behavior BEST exemplifies:
- Variety-seeking behavior.
- Cognitive dissonance.
- Brand loyalty. (correct)
- Impulse buying.
Liquid Death, a canned water company, achieved significant success through marketing. What key element MOST contributed to its success?
Liquid Death, a canned water company, achieved significant success through marketing. What key element MOST contributed to its success?
- Creating excitement and a high level of involvement around a typically mundane product. (correct)
- Focusing exclusively on the product's low cost compared to bottled water.
- Targeting only a niche market of extreme sports enthusiasts.
- Utilizing only traditional advertising methods such as television commercials.
Which of the following scenarios BEST illustrates the concept of 'unsought goods'?
Which of the following scenarios BEST illustrates the concept of 'unsought goods'?
After accidentally deleting important files from their phone, a person diligently backs up their data regularly from then on. This change in behavior is BEST explained by:
After accidentally deleting important files from their phone, a person diligently backs up their data regularly from then on. This change in behavior is BEST explained by:
A company wants to understand general consumer opinions about a new product category before launching a specific product. Which research approach is most suitable?
A company wants to understand general consumer opinions about a new product category before launching a specific product. Which research approach is most suitable?
A luxury car brand notices that their vehicles appear 'cheap' at exclusive yachting events but seem expensive in their dealerships. What type of research is exemplified by this realization?
A luxury car brand notices that their vehicles appear 'cheap' at exclusive yachting events but seem expensive in their dealerships. What type of research is exemplified by this realization?
A beverage company wants to release a new energy drink and needs to understand the cause-and-effect relationship between different ingredients and consumer energy levels. Which research approach would be most appropriate?
A beverage company wants to release a new energy drink and needs to understand the cause-and-effect relationship between different ingredients and consumer energy levels. Which research approach would be most appropriate?
What is the primary difference between primary and secondary market research?
What is the primary difference between primary and secondary market research?
A company is trying to understand the cultural context in which their product is used by consumers. Which research method is MOST suitable?
A company is trying to understand the cultural context in which their product is used by consumers. Which research method is MOST suitable?
Which of the following data types is generally considered qualitative?
Which of the following data types is generally considered qualitative?
A company wants to determine the market size for a new product. Which type of data would be most helpful?
A company wants to determine the market size for a new product. Which type of data would be most helpful?
What is 'desk research' commonly known as?
What is 'desk research' commonly known as?
A company is launching a new line of luxury chocolates. According to consumer behavior principles, which approach would most effectively drive demand?
A company is launching a new line of luxury chocolates. According to consumer behavior principles, which approach would most effectively drive demand?
A beverage company is considering a marketing campaign. Which strategy would best leverage the principles of attitude and nostalgia to increase sales?
A beverage company is considering a marketing campaign. Which strategy would best leverage the principles of attitude and nostalgia to increase sales?
A customer is deciding whether to purchase a new smartphone. According to the Theory of Planned Behavior, which factor would most likely prevent the purchase, even if the customer desires the phone?
A customer is deciding whether to purchase a new smartphone. According to the Theory of Planned Behavior, which factor would most likely prevent the purchase, even if the customer desires the phone?
A small business owner is struggling to differentiate their product in a crowded market. How can they use the 7Ps of marketing to create a competitive advantage?
A small business owner is struggling to differentiate their product in a crowded market. How can they use the 7Ps of marketing to create a competitive advantage?
A company is assessing the potential demand for its new product. Which sequence reflects the correct progression from a basic consumer need to an actual demand for a specific product?
A company is assessing the potential demand for its new product. Which sequence reflects the correct progression from a basic consumer need to an actual demand for a specific product?
In the context of marketing to both consumers and customers, what is the MOST critical factor for a company to consider?
In the context of marketing to both consumers and customers, what is the MOST critical factor for a company to consider?
Which of the following is a primary distinction in the focus of B2B versus B2C marketing strategies?
Which of the following is a primary distinction in the focus of B2B versus B2C marketing strategies?
Within the realm of B2B marketing, which strategy is MOST likely to be prioritized to cultivate strong, lasting business relationships?
Within the realm of B2B marketing, which strategy is MOST likely to be prioritized to cultivate strong, lasting business relationships?
How does branding emphasis typically DIFFER between B2B and B2C marketing approaches?
How does branding emphasis typically DIFFER between B2B and B2C marketing approaches?
In B2C marketing, what is the MOST likely strategic approach to the customer decision-making process?
In B2C marketing, what is the MOST likely strategic approach to the customer decision-making process?
What is the primary objective of audience targeting in B2B marketing compared to B2C marketing?
What is the primary objective of audience targeting in B2B marketing compared to B2C marketing?
How does ad copy in B2B marketing generally DIFFER from ad copy in B2C marketing?
How does ad copy in B2B marketing generally DIFFER from ad copy in B2C marketing?
According to the Engel-Kollat-Blackwell Model, what is the primary goal of the human brain in relation to internal states?
According to the Engel-Kollat-Blackwell Model, what is the primary goal of the human brain in relation to internal states?
Which of the following is the MOST accurate description of the 'evoked set' in consumer behavior?
Which of the following is the MOST accurate description of the 'evoked set' in consumer behavior?
A consumer consistently buys a particular brand of coffee without much thought or research. This is MOST likely an example of:
A consumer consistently buys a particular brand of coffee without much thought or research. This is MOST likely an example of:
Which of the following scenarios BEST illustrates the use of a heuristic in decision-making?
Which of the following scenarios BEST illustrates the use of a heuristic in decision-making?
A car manufacturer includes advanced safety features in their new model, even though these add to the production cost. According to the material, this strategy is MOST likely aimed at influencing which dimension of perceived quality?
A car manufacturer includes advanced safety features in their new model, even though these add to the production cost. According to the material, this strategy is MOST likely aimed at influencing which dimension of perceived quality?
Which of the following is LEAST likely to be considered an internal source of information during consumer decision-making?
Which of the following is LEAST likely to be considered an internal source of information during consumer decision-making?
A consumer is looking to buy a new smartphone. They have a budget in mind, but are willing to slightly exceed it for a phone with a significantly better camera. This BEST illustrates the decision-making behavior related to:
A consumer is looking to buy a new smartphone. They have a budget in mind, but are willing to slightly exceed it for a phone with a significantly better camera. This BEST illustrates the decision-making behavior related to:
Which of the following scenarios BEST demonstrates how 'perceived quality' can differ from 'objective quality'?
Which of the following scenarios BEST demonstrates how 'perceived quality' can differ from 'objective quality'?
A company selling luxury watches focuses heavily on the craftsmanship and heritage of their products in their marketing campaigns. This MOST directly aims to influence consumers' perceptions of:
A company selling luxury watches focuses heavily on the craftsmanship and heritage of their products in their marketing campaigns. This MOST directly aims to influence consumers' perceptions of:
Which of the following is NOT considered a primary method for gathering consumer insights?
Which of the following is NOT considered a primary method for gathering consumer insights?
A researcher aims to understand the nuanced experiences of individuals using a specific product. Which in-depth interview type would be MOST suitable?
A researcher aims to understand the nuanced experiences of individuals using a specific product. Which in-depth interview type would be MOST suitable?
What is the primary benefit of using focus groups in consumer research?
What is the primary benefit of using focus groups in consumer research?
A company wants to understand how consumers navigate and interact with their products in a real-world setting. Which research method would be MOST appropriate?
A company wants to understand how consumers navigate and interact with their products in a real-world setting. Which research method would be MOST appropriate?
A researcher is developing a sampling plan for a study on consumer preferences. Why is it important to define the target population clearly?
A researcher is developing a sampling plan for a study on consumer preferences. Why is it important to define the target population clearly?
What is the key goal of 'sampling' in the context of market research?
What is the key goal of 'sampling' in the context of market research?
A marketing team is trying to understand the various influences affecting consumer decisions related to sustainable products. Which approach would provide the most comprehensive understanding?
A marketing team is trying to understand the various influences affecting consumer decisions related to sustainable products. Which approach would provide the most comprehensive understanding?
Which of the following best describes the relationship between marketing strategy and consumer behavior?
Which of the following best describes the relationship between marketing strategy and consumer behavior?
A company is launching a new product targeting young adults. Which of the following would be the LEAST effective way to understand their consumer behavior?
A company is launching a new product targeting young adults. Which of the following would be the LEAST effective way to understand their consumer behavior?
A company notices a sudden drop in sales for a product primarily marketed through social media. Which research approach would BEST help them understand the change in consumer behavior?
A company notices a sudden drop in sales for a product primarily marketed through social media. Which research approach would BEST help them understand the change in consumer behavior?
Flashcards
Hedonic
Hedonic
Relating to pleasure or enjoyment, often linked to desires and wants.
Utilitarian
Utilitarian
Relating to practical and functional benefits, often linked to needs.
Demands
Demands
Wants backed by purchasing power, reflecting consumer's readiness to buy.
7 P's of marketing
7 P's of marketing
Signup and view all the flashcards
Theory of Planned Behavior (TPB)
Theory of Planned Behavior (TPB)
Signup and view all the flashcards
Level of involvement
Level of involvement
Signup and view all the flashcards
Brand loyalty
Brand loyalty
Signup and view all the flashcards
Influencer marketing
Influencer marketing
Signup and view all the flashcards
Unsought goods
Unsought goods
Signup and view all the flashcards
Learning by doing
Learning by doing
Signup and view all the flashcards
B2B Marketing
B2B Marketing
Signup and view all the flashcards
B2C Marketing
B2C Marketing
Signup and view all the flashcards
Customer Relationships
Customer Relationships
Signup and view all the flashcards
Branding Focus
Branding Focus
Signup and view all the flashcards
Decision-Making Process
Decision-Making Process
Signup and view all the flashcards
Audience Targeting
Audience Targeting
Signup and view all the flashcards
Ad Copy Style
Ad Copy Style
Signup and view all the flashcards
Engel-Kollat-Blackwell Model
Engel-Kollat-Blackwell Model
Signup and view all the flashcards
In-depth interviews
In-depth interviews
Signup and view all the flashcards
Focus groups
Focus groups
Signup and view all the flashcards
Observations
Observations
Signup and view all the flashcards
Primary research
Primary research
Signup and view all the flashcards
Sampling
Sampling
Signup and view all the flashcards
Consumer behavior
Consumer behavior
Signup and view all the flashcards
Consumer influences
Consumer influences
Signup and view all the flashcards
Quantitative research
Quantitative research
Signup and view all the flashcards
Qualitative research
Qualitative research
Signup and view all the flashcards
Market strategy
Market strategy
Signup and view all the flashcards
Perceived Quality
Perceived Quality
Signup and view all the flashcards
Descriptive Research
Descriptive Research
Signup and view all the flashcards
Casual Research
Casual Research
Signup and view all the flashcards
Evoked Set
Evoked Set
Signup and view all the flashcards
Observational Research
Observational Research
Signup and view all the flashcards
Consideration Set
Consideration Set
Signup and view all the flashcards
Decision Making Goals
Decision Making Goals
Signup and view all the flashcards
Ethnographic Research
Ethnographic Research
Signup and view all the flashcards
Primary vs Secondary Research
Primary vs Secondary Research
Signup and view all the flashcards
Information Search
Information Search
Signup and view all the flashcards
Brand Trust
Brand Trust
Signup and view all the flashcards
Marketing Influence
Marketing Influence
Signup and view all the flashcards
Structured vs Unstructured Data
Structured vs Unstructured Data
Signup and view all the flashcards
Consumer Trust Factors
Consumer Trust Factors
Signup and view all the flashcards
Study Notes
Consumer Behaviour - Kurskrav
- To be equipped with efficient business skills.
- Understand the determinants of consumer behavior.
- Know how to collect and analyze data to better understand consumer purchase decisions.
- Diagnose decision stages, key players, their decision criteria, and credible sources of information.
Consumer Behaviour - Overview
- Understand consumer behavior through the mobilization of qualitative approaches.
- Teach students how to conduct a qualitative market research, from implementation to analysis of the results.
- Enhance students' understanding of the main influencers on the consumer decision process.
- Teach participants how to analyze consumer and business decision process, and make recommendations.
- Illustrate through examples from various sectors.
Session 1 - Introduction
- Attend lectures.
- Be respectful.
- Review online course materials.
- Collaborate effectively in groups.
- Ask questions for clarification.
- Look after and support each other.
- Have fun.
- Stay safe and healthy.
- Contact instructor with questions.
Assessments
- Individual Continuous Assessment (20%): A multiple-choice test covering theory from sessions 1 to 6. Due 10/02/2025. Includes both open and closed questions.
- Group Continuous Assessment (20%): Work in pairs as a marketing agency on a client project. Choose a student-oriented product/service. Deliver a 10-minute presentation on 17th March. Presentation content includes: product/service introduction, market research, adapting the marketing mix based on the research, and justification for two campaign ads (one video, one billboard).
- Exam (60%): Covers materials from class and practical application of theory.
Types of Consumer Behavior
- Variety Seeking: Consumers display minimal thought regarding brand differences and switch brands/products frequently, due to low switching costs. Marketers encourage repeat purchases by ensuring ample availability, running frequent campaigns, competitive pricing, and providing coupons/free samples.
- Complex Buying Behavior: Consumers purchase expensive, rarely-bought products with numerous options (e.g., cars). They conduct extensive research before making a decision, consulting other people.
- Habitual Buying Behavior: Consumers buy everyday products, rarely considering differences between brands. For example, buying the usual brand of milk.
- Dissonance-Reducing Buying Behavior: Consumers have trouble seeing differences between competing brands or products within a product category. They experience buyer's remorse after a major purchase. Marketers utilize post-purchase support campaigns.
What is Important To Know About Consumer Behavior
- Demographics (age, gender, income etc).
- Competitors (what customers like about opponents? What are the weaknesses?)
- Brand perceptions and loyalty (do customers strongly relate to a brand?)
- Products and Services (evaluation of product or service over another)
- Habits (how many times do consumers engage with the product?)
- In/Influencers (how do these influences consumers decisions?)
- Cultures and media (such as ads)
- How do all factors influence a consumer decision?
Continumm of Buying Decision Behavior
- Routine Response: Low-cost, frequently bought items, with little consumer involvement. (e.g., milk).
- Limited Problem Solving: Moderate effort in decision-making (e.g., clothing, some electronics).
- Extensive Problem Solving: High-cost, unfamiliar products, requiring significant time and effort research (e.g., homes, cars).
Marketing and Consumer Decision Making
- Consumer decision making involves both rational choices (e.g., price, function), and emotional factors (e.g., brand recognition, feeling, prestige).
- Every purchase decision involves a mixture both.
Reducing Risk
- Psychological Risk: Consumers are concerned about the emotional impact of their decisions.
- Financial Risk: Consumers want value for their money.
- Performance Risk: Consumers want products to function correctly.
- Social Risk: Consumers are concerned about how others will perceive their purchase.
- Time Risk: Consumers need efficient purchase experiences.
Different Consumer Contexts
- Customer: A company or person purchasing a product/service.
- Consumer: The end user of a product/service.
- Buyer: The decision-maker in a purchase.
- Shopper: Someone looking to buy a product (online or offline).
Qualitative vs. Quantitative Market Research
- Qualitative research involves in-depth, unstructured data gathering; used for greater insights.
- Quantitative research involves numerical data analysis; used for confirming or rejecting theories.
Coding Qualitative Data
- Coding is a technique that organizes data into themes, for easier research.
Forms of Sampling
- Probability sampling involves random selection; ensuring all groups have a chance of being represented. (e.g., Cluster, Systematic, Multistage)
- Non-probability sampling does not involve random selection. (e.g., Convenience, Voluntary, Snowball)
Other Information
- B2B vs. B2C: Understanding Business-to-Business and Business-to-Consumer contexts.
- Consumer needs vs. Wants: Different needs and wants of consumers, and how to understand each.
- Information Search: How consumers gather information relating to a product or service before a decision is made.
- The Consideration Set: The brands or options that a consumer considers during the purchase process.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Learn efficient business skills and understand consumer behavior determinants. Know how to collect and analyze data to better understand consumer purchase decisions, diagnose decision stages, key players, and their decision criteria.