A thorough and insightful understanding of target consumers should be the foundation of the formulation of all marketing plans. The relationship between the study of consumer behavior and marketing is like the two sides of the same coin. The study of consumer behavior is a constantly on-going process due to changes in the macro environment.
Consumer behavior refers to a series of consumption activities of choosing, buying,using, evaluating and disposing of the products and services to fulfill the needs of individuals or organizations. Instead of simply focusing on the buying behavior, the whole consumption process involves at least three stages: prepurchase, purchase and post-purchase stages.Consumers and their decision-making processes are influenced by internal and external factors,which determines the interdisciplinary nature of this course. Internal factors include: sensation and perception, learning and memory, motivation,attitude, personality and lifestyle; external factors include: social relationships like family,reference group and key opinion leaders, culture and subculture, as well as direct and indirect marketing influences.
It is strategic for businesses to select a certain group of consumers to be the target, and come up with a set of relevant strategies aiming at them. Market segmentation is the practice to divide the market into groups of consumers possessing common needs or features. The two major tools to segment consumers are demographics and psychographics.
Market research is the process of exploring,collecting and analyzing information regarding consumer behavior. Research agencies should communicate with the clients adequately,keep in mind the clear research objectives and the research background, So as to avoid and eliminate future mistakes caused by misunderstandings, there are three steps in the market research process: preparation (research design and recruitment), execution (ways of qualitative and/or quantitative researches), and later stages (analysis and reporting).
Qualitative research is about getting insights from consumers. The major ways are focus group discussions, in-depth interviews (one-on-one),in-home visits and ethnographic immersions,and shop-along. It’s essential to construct an effective discussion guide and recruit the right respondents to elicit valuable answers. Analysis of qualitative research relies on the expertise and experience of the moderator.
Quantitative research focuses on numbers and statistics . The major forms are observation,experimentation and survey. It is critical to establish and follow a standardized structure for future execution.
The roles of QUAL and QUAN studies can be complementary . The decision of choosing which type of research methods should be based on the nature, background and the objectives of the research.