...Consumer Behavior Insights Executive Summary – In this research report we will analyze the topic name as consumer behavior insights. As any company before launching their product in the market first understands the consumer behavior about their products hence behavior of consumer is one of the most parts for the analysis of the topic. Table of Contents Executive Summary 1 Introduction 2 Consumer Behavior Insights 2 Better Consumer Behavior Insight in today scenario 3 Tools used for Measuring consumer behavior 4 Demographics, Media Habits, and Psychogra phics 4 Research Question 7 Benefit from Consumer Behavior insights Data 7 Challenges of analyzing Consumer Behavior Insights 8 Gathering of Data for Consumer behavior Insights 9 Conclusion 9 References 9 Introduction – Consumer behavior is one of the important tools to launch any product in the market as success and failure of the product mainly depend on the consumer behavior towards those products. One cannot measure the consumer behavior in the easy manner though by doing survey, taking feedback and marketing strategies all the companies try to understand the consumer behavior which shows their taste towards products and service launch by the company. Hence in this assignment we will analyze the consumer behavior insights, their characteristics, Consumer Behavior towards low involvement products and services and Consumer Behavior towards high involvement products and services. Consumer Behavior Insights...
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...Consumer Behaviour Term Paper Consumer Behaviour Insights in Marketing of Religion Saksham Srivastava (PGP/16/224) IIM Kozhikode sakshams16@iimk.ac.in, saksham1926@gmail.com Abstract Religion has been a part of the human civilisation for thousands of years, if not millions. Right from cavemen to white collar jobs, human beings have always strived to have a reason for survival. We have looked for the meaning of life since the beginning. Such a search is always accompanied by a belief in something. Sportsmen believe in their workout regime and training sessions to enable them to excel in their respective sports. Young students believe in the hours they’ve spent studying, to enable them to excel in their examinations. The origins of religion, lie in the belief of God, which is said to help people live a life of virtue. Religion has come to be defined by two schools of thought in today’s time. One school of thought is the believers, the ones who are on ‘religion’s side’, and the others, atheists, who don’t follow any religion and do not believe in the existence of God. Rather than being a rigid classification, the above division is more of a spectrum. Various degrees of theism and atheism exist with the middle path lying somewhere between mono-theists and agnostics. The science versus religion debate has been one of the most followed ongoing debates of the last and the current century. The reasons for the emergence of such a debate have been various, like, the Dark...
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...Pillsbury Cookie Challenge What are consumer insights? In order to market a product, we must first understand customer needs and wants. Consumer insight is the information gathered about a target population in order to better align market strategies with consumer needs. The goal is to better understand the customer in the Pillsbury Cookie Case, Guillen focused on his cookie customers. What types of challenges can benefit from consumer insights? One type of challenge that can be solved using consumer insights is increasing volume and profit growth of particular business segments. Generating new insights into current and potential consumers allows for a more focused marketing effort that appeals to consumers. Understanding the consumer insights of geographic, demographic, psychographic, and behavioral segments allows for a more effective targeting strategy. In the case of refrigerated baked goods, Guillen needed to gain market insights on his cookie customer market. Geographically separating the his Canadian market from the U.S. segment allowed Guillen to target and study consumer behaviors to better understand his current and prospective cookie customers. The better Guillen understands his consumer, the better he can improve and market his product to reflect customer wants. For the most part, increased customer insight leads to increased sales volumes. How does a company obtain consumer insights? Consumer insights are developed through quantitative and qualitative research...
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...addressing the consumer buying process in the international market. They need to ask themselves the following questions. How can CanGo appeal to consumers in other countries? What psychological, personal, social and situational influences motivate consumer behavior in other countries? Why has CanGo’s shipping increased to Japan? VALS is a consulting and consumer research service that CanGo can turn to for assistance. It is one of the most important tools for understanding consumer behavior. VALS helps strengthen demographic characterizations by explaining the deeper psychological drivers of consumer behavior. They provide clients with tailored marketing strategies for targeting, positioning, and communications—real-world, real-time, actionable strategies. VALS identifies the psychological motivations that predict consumer differences ("Strategic business insights," 2012). Recommendation to CanGo: Building a Better Year Consultants, LLC, believes using VALS would be very beneficial for CanGo’s analysis of target markets. VALS segments US adults into eight distinct types using a specific set of psychological traits and key demographics that drive consumer behavior. The US Framework, a graphic representation of VALS, illustrates the eight types and two critical concepts for understanding consumers: primary motivation and resources. The combination of motivations and resources determines how a person will express himself or herself in the marketplace as a consumer ("Strategic business...
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...research helps assess market potential, gives insight to into customer motivation, purchase behavior and consumer satisfaction. The purpose of marketing research is to gather, analyze, and interpret data related to the company’s market, competitors, marketing objectives, and customer demands. Kudler Fine Foods is a gourmet grocery store that has experienced significant growth, and is now focused on expanding its services, improving the efficiency of its operations, and increasing the consumer purchase cycle as a mean to increasing the loyalty and profitability of its consumers. The organizations strategic objective is to increase loyalty and profitability of consumers. To meet the objective, the business focus includes expanding services, offering a frequent shopper program, and increased business efficiency. Through market research the organization can obtain information needed to make reasonable estimates about what consumers will or won’t buy. The objective when research is performed is to reach a deep understanding of customers and their emotional connections to the products they buy and use. The marketing objectives Kudler Fine Foods outline begin with gathering information of their customers, competitors, suppliers, and other market forces. Once the information is gathered they must use the information to gain customer and market insight. The organizations strategic objective is to increase loyalty and profitability of consumers. To meet the objective, the business focus...
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...Unilever could claim that Lifebuoy were better than competitors products on germ kill. It was proven in their lab research. However, the consumer still unwilling to budge because beating the competitors by going head to head against them would not work. Unilever’s product killed more germs than the competitors’ products. The Research and Development scientists also discovered that Lifebuoy could kill germs faster than the competing products. Unilever’s handwashes could protect hands from germ faster than the other products in the market. Rather than going in with just the claim, the company looked extensively for a consumer angle to frame the “faster kill” claim. The company use the quantitative research, which is the observational research. Observation is a systematic data collection approach. Researchers use all of their senses to examine people in natural settings or naturally occurring situations. Observation of consumers is often a powerful tool. Looking at how consumers select products may yield insights into how they make decisions and what they look for. Observational research is conducted with the informed consent of the consumer or in certain instances without the consumer being aware of the researcher’s presence. It has to be done objectively over a long period of time and on a large proportion of consumers to minimize the chances of bias or error. All the personnel in an organization, such as product designers, manufacturers and marketers, should be involved to...
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...account for 18%. Cadbury’s India Ltd, has been in India since 1948. In all the segments i.e.moulded chocolates, count chocolates and panned chocolates, it is undoubtedly the market leader. The world’s largest marketer of chocolates (became world number one when it acquired Rowntree Macintosh of the UK) – Nestle, made its foray in the Indian chocolate Industry in November 1990. In the eighties, Cadbury’s decided to focus its efforts on making chocolates a distinct category with an identity of its own. And the marketer had positioned its product at children to do that. By the end of the eighties, Cadbury’s ruled the market with over 80 percent market share. The rapid growth of various brands in India has led to a tight competition and consumers are offered with brand choice in the market, it becomes necessary for manufacturers to understand the major factors attracting buyers to...
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...that value is attained. The real value of marketing research and marketing information lies in how it is used—in the customer insights that it provides. Based on such thinking, many companies are now restructuring and renaming their marketing research and information functions. They are creating “customer insights teams,” headed by a vice president of customer insights and made up of representatives from all of the firm’s functional areas. For example, the head of marketing research at Kraft Foods is called the director of consumer insights and strategy. Customer insights groups collect customer and market information from a wide variety of sources—ranging from traditional marketing research studies to mingling with and observing consumers to monitoring consumer online conversations about the company and its products. Then, they use the marketing information to develop important customer insights from which the company can create more value for its customers. 2. Discuss the sources of internal data and the advantages and disadvantages associated with this data. Internal databases are electronic collections of consumer and market information obtained from data sources within the company network. Information can come from many sources. For example, information on customer transactions, demographics, psychographics, and buying behavior can come from the marketing department. The customer service department can provide information on customer satisfaction or service...
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...specific consumer groups are, and being able to quantify the impact of consumer trends. This report solves these problems by providing integrated survey-based data on consumer trends, consumer groups and market data which show exactly the size of consumer groups, how much of the Ice cream market they account for and which consumer trends drive their behavior. What is the current market landscape and what is changing? As India undergoes rapid development and population dynamics start to take effect, being able to capitalize early on the new emerging consumer behaviors will be fundamental to future growth. India's young population, adapting to increasing affluence, will shape the market for years to come. This makes early identification of the consumer groups and trends driving market behavior essential. What are the key drivers behind recent market changes? Consumers' uptake of products and the influence of consumer trends are fundamental causes of change in markets - making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of sales across 26 consumer groups - providing through the data a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having. What makes this report unique and essential to read? The data provided is unique in the market as it tracks consumer behavior...
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...trends and new shopper insights Contents Executive summary Overview of study and methodology Who is the Green Shopper? Insights into Green Shoppers’ behavior Opportunities to engage the Green Shopper Summary of recommendations Appendix A: Sample questionnaire Appendix B: Green lifestyle behavioral test Appendix C: Sample green products 4 5 7 11 13 15 23 25 26 Finding the green in today’s shoppers Sustainability trends and new shopper insights 3 Executive summary Overview The Grocery Manufacturers Association (GMA) enlisted Deloitte* to conduct a study to examine the behavior of consumers related to the purchase of sustainable products. We conducted a direct study of more than 6,000 shopper experiences in 11 major retailers of varying formats to understand the characteristics of the green shopper and to examine their shopping responses to sustainability issues. We will examine the characteristics and the behaviors of this shopper in greater detail to understand the emerging green shopper and the market opportunity to serve them. What did we learn from this study? “Green Shoppers” may not fit the granola stereotype. Demographically, they are diversely spread along all income ranges, age brackets, education levels and various household sizes. On average green shoppers are a little older, tend to have higher income, and more education, but you will find substantial numbers of green shoppers can be found distributed across the consumer population. Green shoppers...
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...When this case was created we were on the edge of what was to come in Consumer Generated Media. Today we have blogs, Facebook, Twitter, and whatever else is right around the corner in this rapid changing environment. These sources provide opportunities for both consumers and marketers to gather more information then ever before. The information available from the CGM sources provides a great opportunity for marketers to improve their customer relationship management as well as give them a great opportunity to gain insights into their consumer’s behaviors. I feel the potential is outlined very well in Exhibit 10 of the case. The main issue that marketers face is how they create meaning for decision makers with all of this information. I feel Intelligence Seeker is on the right track by targeting the seemingly unlimited potential the question is are they providing the context their customers are looking for and need? The sky is the limit with CGM today but developing the means to create the meaning is a complex proposition. The two Pulsebrand reports that were referenced could provide a brand manager many insights into their customers and competitors. Exhibit 4 gives a nice summary of the overall attitudes and interests of your customers and exhibit 5 allows the brand manager to drill into the detail from the customers themselves. Using both reports together could give a brand manager valuable insights about their products, customers, and competition. At a summary level a brand...
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...Annotated Bibliography Choices 3 Viewer This resource allows me to analyze the consumer behavior of people who buy outwear based on a variety of different categories, such as age, gender, and income. Therefor I can make my marketing recommendations to coincide with current or future consumer patterns. Mintel This database profiles the women’s outwear marketplace. Mintel explores what factors impact consumers purchasing behaviors such as; where women buy coats, and their attitude on different outwear styles, price, and length. In addition to current information, Mintel provides insight on the future marketplace in the US with database projections. Euromonitor This resource provides market data both in America as well as globally. Euromonitor also allows me to look up company shares for Columbia Sportswear and The Timberland Co., which give me a insight into their current business status. Factiva This resource provides news articles on specific companies, industries, regions, and subjects. I am able to filter those categories for apparel-outwear as my industry while comparing my specific companies, Timberland and Columbia. Market Research Reports - Business Market Research Reports & Industry Analysis. Web. 11 Oct. 2011. . This Website reports on consumer goods and services by providing various articles that correspond with the industry and search category. This provides me with some up-to-date looks on the current industry and my companies. IBISWorld Industry...
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...Consumer Traits and Behaviors Paper Dawn Chapmen, Cheri Ward, Rachelle Barrera, Hallie Richardson, & Jose Diaz PSY / 322 July 22, 2013 Instructor: Lisa Siegal Consumer Traits and Behaviors Paper In today’s competitive market, advertisers must look at all facets of consumerism. Consumer traits and behaviors can be analyzed to find out why people purchase products and select certain services; a marketer should research the psychological, social, personal, and also similar traits and behaviors that consumers share based on those social and psychological factors to find out what truly motivates the buyer. An organization will be and remain successful, by learning how to leverage the different factors that influence consumer purchasing behavior to effectively market their products and or services while maximizing their sales. The factors that seem to play the biggest role in consumer's buying behavior include social factors and psychological factors. The psychological factors that influence an individual's decision to make a purchase are further categorized into the individual's motivations, perceptions, learning and his beliefs and attitudes, or personality traits. The social factors that can have an influence include: personal influence, reference groups, family influence, social class, culture and subculture. While marketing products and services to certain individuals or groups, manufacturers need to determine the needs of the purchaser to reach their target group...
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...and Consumers (Chapters 3–6) Part 3: Designing a Customer-Driven Strategy and Mix (Chapters 7–17) Part 4: Extending Marketing (Chapters 18–20) 4 Marketing Information to Gain Managing Customer Insights Chapter Preview In this chapter, we continue our exploration of how marketers gain insights into consumers and the marketplace. We look at how companies develop and manage information about important marketplace elements: customers, competitors, products, and marketing programs. To succeed in today’s marketplace, companies must know how to turn mountains of marketing information into fresh customer insights that will help them deliver greater value to customers. Let’s start with a good story about marketing research and customer insights in action at P&G, one of the world’s largest and most re- spected marketing companies. P&G makes and markets a who’s who list of consumer megabrands, including the likes of Tide, Crest, Bounty, Charmin, Puffs, Pampers, Pringles, Gillette, Dawn, Ivory, Febreze, Swiffer, Olay, Cover Girl, Pantene, Scope, NyQuil, Duracell, and dozens more. The company’s stated purpose is to provide products that “improve the lives of the world’s consumers.” P&G’s brands really do create value for consumers by solving their problems. But to build meaningful relationships with customers, you first have to understand them and how they connect with your brand. That’s where marketing research comes in. P&G: Deep Customer Insights Yield...
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...Marketing book notes Chapter 1: * Marketing is managing profitable customer relationships. The aim of marketing is to create value for customers and capture value from customers in return * Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep the grow current customers by delivering satisfaction * Marketing must be understood not in the old sense of making a sale- “telling and selling” – but in the new sense of satisfying customer needs. If the marketer understands customer needs; develops products that provide superior customer value; and prices distributes, and promotes them effectively , those products will sell easily * Selling and advertising are only part of a larger marketing mix – a set of marketing tools that work together to satisfy customer needs and build customer relationships * Marketing- the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Understanding the marketplace and customer needs: * 1) needs, wants, and demands * 2) market offering (products, services, and expectations) * 3) value and satisfaction * 4) exchanges and relationships * 5) markets Customer needs, wants, and demands * The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include physical...
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