Download MKT-Lec-13

Principles of
Marketing
Lecture-13
Summary
of
Lecture-12
Marketing Research
Steps in the
Marketing Research
Process
1. Problem Definition and the
Research Objectives
2. Developing the Research Plan
3. Implementation
4. Interpretation and Reporting
of Findings
Today’s Topics
Marketing Research
(cont..)
Consumer Marketunderstanding the
consumer
Research
Instruments
–Questionnaires
• Include open-ended
and closed-ended
questions
• Phrasing and question
order are key
–Mechanical instrument
Contact Methods

Mail questionnaires

Telephonic Interview

Personal interview


Group interview…Focus
group interview
Online Research
Step-3
Implementing
the Research
Plan
Collecting the Data
Analyzing the Data
After the data have been
collected, the next step in the
research process is data
analysis.
The purpose of data analysis is
to interpret and draw
conclusions from the data that
has been collected.
Key
Issues
Is the sample representative?
Is the data reliable?
Is the data valid?
Are the statistical techniques
appropriate?
Step-4
Interpretation and
Reporting
of Findings
After data analysis is
completed, the researcher must
prepare the report and
communicate the conclusions
and recommendations to
management.
The research will ordinarily be
required to present both written
and oral reports on the project.
Research Is Useful If:
 We put thought into it before we
do it
 We do the right kind of research
 We use judgment in interpreting
and using the results
Consumer Market
All individuals and
households who buy or
acquire goods and
services for personal
consumption
Firm needs to know
–Who buys?
–How they buy?
–When and where they
buy??
–Why they buy?
–How they respond to
marketing stimuli?
Why do you think
marketers know these
things?
Because they study
consumer behavior
(CB)
What is Consumer
Behavior about?
How, why, where and
when consumers make
purchase decisions?
Considers who
influences the
decisions?
How are purchases
made?
What information is
needed for those
decisions?
What factors affect these
decisions?
Why is it
Important?
Consumers determine the sales
and profits of a firm by their
purchase decisions, thus the
economic viability of the firm.
In late 1990, US consumers
were spending enough dollar
bills to stretch from the Earth to
the Sun and back, with enough
left over for over 600 lines to the
moon!
Customer vs. Consumer
Behavior
Customer behavior
Includes both individual
consumers who buy goods and
services for their own use and
organizational buyers who
purchase business products.
Consumer behavior
Is the process through which the
ultimate buyer makes purchase
decisions.
Consumer Behavior
Defined

The study of the processes
involved when individuals or
groups select, purchase, use,
or dispose of products,
services, ideas, or
experiences to satisfy needs
and desires (Solomon, 1996).

Those actions directly
involved in obtaining,
consuming and disposing of
products and services,
including the decision
processes that precede and
follow those actions (Engel
et al. 1995).

Examines mental and
emotional processes in
addition to the physical
activities (Wilkie 1990).
Consumer Behavior
Deals With …
Actions in Purchasing and Using
Products
Including Behavior and Thought
Processes
The buying behavior of
final consumersindividuals and
households who buy
goods and services for
personal consumption.
Marketing
Applications
Positioning
Segmentation
Product development
Market development
International marketing
Consumer Spending
Patterns
Disposable income
Discretionary income
Family life cycle:
Young
Teens
Empty nesters
Senior citizens
Model of
Consumer Behavior
“Stimulus-Response”
Product
Price
Place
Promotion
Buyer’s decision
process
Product choice
Brand choice
Dealer choice
Marketing and
Other Stimuli
Buyer’s Black Box
”what” & “how”
Buyer’s Response
Economic
Technological
Political
Cultural
Buyer
characteristics
affecting
consumer
behavior
Purchase timing
Purchase
quantity
Marketing Other
stimuli
stimuli
Product
Price
Place
Promotion
Economic
Technological
Political
Cultural
Buyer’s decision
Buyer’s
characteristics process
Cultural
Social
Personal
Psychological
Problem recognition
Information search
Evaluation
Decision
Post-purchase
behavior
Buyer’s decisions
Product choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Stimulus Response Model
–Marketing and other
stimuli enter the buyer’s
“black box” and
produce certain
choice/purchase
responses.
–Marketers must figure
out what is inside of the
buyer’s “black box”
and how stimuli are
changed to responses.
Enough for
today. . .
Summary
Consumer Marketunderstanding the
consumer
All individuals and
households who buy or
acquire goods and
services for personal
consumption
Model of
Consumer Behavior
“Stimulus-Response”
Product
Price
Place
Promotion
Buyer’s decision
process
Product choice
Brand choice
Dealer choice
Marketing and
Other Stimuli
Buyer’s Black Box
”what” & “how”
Buyer’s Response
Economic
Technological
Political
Cultural
Buyer
characteristics
affecting
consumer
behavior
Purchase timing
Purchase
quantity
Next….
Consumer Behavior (cont..)
Principles of
Marketing
Lecture-13