Consumer Study
-
Upload
cuteangel10 -
Category
Documents
-
view
222 -
download
0
Transcript of Consumer Study
-
8/8/2019 Consumer Study
1/31
1
Who is a Consumer?
-
8/8/2019 Consumer Study
2/31
2
We usually think of a consumer as a person who
identifies a need or desire, searches for a product
buys and then consumes the product in order to
satisfy the need.
But in many cases differentindividuals may be involved
in this chain of events.
Common Understanding
-
8/8/2019 Consumer Study
3/31
3
Some Consumer Behavior Roles
1. Initiator Individual who determines that some oneneed or want is not being met and authorizes apurchase to rectify the situation.
2. Influencer A person who by some intentional orunintentional word or action influences the purchasedecision, the actual purchase or the use of theproduct or service.
3. Buyer The individual who actually makes thepurchase.
4. User The person most directly involved in theconsumption or use of the purchase.
-
8/8/2019 Consumer Study
4/31
4
Consumer behavior & Buying
Consumer behavior examines how individuals acquire,use & dispose off company offerings.
Goods and services can be acquired throughpurchase but they can also be obtained throughbarter, leasing or borrowing.
After acquiring the goods it may be consumed indifferent manner
--- Offering is consumed in one use (ex:- pepsi)
--- It could be consumed over a certain time (ex:-phones, apparel)
Usage could also influence the behavior of others
-
8/8/2019 Consumer Study
5/31
5
What influences consumer behavior?
---what leads them to buy the product& brand they
finally choose?
These factors can be grouped into 3 conceptualdomains
1. External influences
2. Internal processes (including consumer decision
making)3. Post-decision processes
-
8/8/2019 Consumer Study
6/31
6
Model of consumer behavior factors influencing the purchase
EXTERNAL INFLUENCES
Firms marketing efforts Consumer culture
Product
Promotion
Price
Place
Religious & Ethnic influences
Age & Gender
Reference groups
Social class
Psychological processes Decision making
Motivation
Perception (observation, awareness)
KnowledgeAttitudes
Problem Recognition
Information search
Judgment & Decision making
INTERNAL PROCESSES
POST DECISION PROCESSES
Purchase
Post purchase behavior
-
8/8/2019 Consumer Study
7/31
7
The Powerful Consumer
Modern fashion is about freedom, democracy &
individualism and this is a development that I, for one,
welcome.
Giorgio Armani
Does the designer or the consumer determine thedirection fashion will take?
-
8/8/2019 Consumer Study
8/31
8
Consumer Markets
It can be examined in terms of :-
1. DEMOGRAPHICS
2. PSYCHOGRAPHICS
-
8/8/2019 Consumer Study
9/31
9
Demographics
It is the study of various objective characteristicsof the population, such as
Population size
Geographic concentration Age
Occupation
Family life cycle
Education
Income
-
8/8/2019 Consumer Study
10/31
10
POPULATION
Population size & location are importantconsiderations. A company does not study the entirepopulation, only that portion directly related to theproduct being considered.
Ex: children's wear manufacturer is concerned withnumber of children in general population.
Geographic concentration of people plays vital role,
ex:- population shift in 1990s to mountain statescreated greater needs for hiking gear
-
8/8/2019 Consumer Study
11/31
11
AGE
Fashion manufacturers & retailers may
emphasize styles that cater to a specific age
group. To market their product effectively they
need to know what portion of the overallpopulation fits into each age group.
-
8/8/2019 Consumer Study
12/31
12
OCCUPATION
Growing presence of women workforce in
today's market resulted in fashions suitable
for the workplace
Friday dressing - resulted in casual clothing
for work
-
8/8/2019 Consumer Study
13/31
13
GEOGRAPHIC CONSTRAINTS- Where people live alsodetermines the clothing & accessories they need.
EDUCATION Money alone does not account for the style and
quality of merchandise preferred by consumers. Although many withlittle or no formal higher education earn substantial salaries,educational level often determines income levels & merchandiseneeds.
INCOME A persons income determones the quality & price of thefashion merchandise he or she purchases. Fahsion retailers miustbe constantly be aware of income shifts in their potential markets.(discretionary spending and disposable income)
-
8/8/2019 Consumer Study
14/31
-
8/8/2019 Consumer Study
15/31
15
Full nest1 Arrival of children typically causes a temporary reductionin real & discretionary funds.
Full nest 2 In this classification children are teenagers. Womenwho stayed home to raise their kids often return to workplace. Moremature women with sophisticated taste. Kids are wearing trendy
merchandise
FullNest 3 Husband & wife usually work & children are 17 yrs &older but still dependant on parents. (bridge merchandise)
Empty nest1- With the children on their own , much parents financial
responsibility has diminished. Manufactures & retailers direct qualityfashion products for both work & play at this market.
-
8/8/2019 Consumer Study
16/31
16
Empty nest 2 both the members have retired as a result there isa decrease in the income. Except for those whose financialinvestments guarantee a good lifestyle most of them cut downcosts. Clothing for work wear is not necessary.
Sole survivor Survivor remains on the job, This group isresponsible for quality purchases.
Sole survivor 2 Retired couples lose their mates. Place &lifestyle changes. Purchase of more leisure wear merchandise.
Buy little for themselves.
-
8/8/2019 Consumer Study
17/31
17
Source of this info?
Market researchers can find this information in
governmental sources, such as the
publications of the census bureau
the commerce department
from original research studies companiessponsor to assess their markets
-
8/8/2019 Consumer Study
18/31
18
PSYCHOGRAPHICS
It is the subjective study of characteristics that
describe motivations to buy, such as personality,
lifestyle, ethnicity, attitudes, interests & opinions.
Results offer a more complete look at the customers.
By identifying particular characteristics, companies
can better match their products to the need of the
potential customers.
-
8/8/2019 Consumer Study
19/31
19
Buying Motives / Decision Making
-- Do price & quality & motivate a customer to buy amerchandise?
-- Does the prestige of the label stimulate purchasing?
-- Does the polo pony logo on the Ralph Lauren shirtmake it a better product?
-- Or does the name increases its desirability?
Consumers are motivated to buy for different reasons
some emotional & some rational.
-
8/8/2019 Consumer Study
20/31
20
Emotional Motives
(emotional decision maker)
Status & prestige are often involved in the
purchase of consumer products. Fashion
merchandise, in particular, often appeals to
emotional motives.
-
8/8/2019 Consumer Study
21/31
21
Rational Motive (rational decision maker)
These consumers base their purchases on careful examination ofthe products
-- Is the quality good?
-- Is it competitively priced?
-- Is the material durable?
Consumer is not motivated to buy simply because everyone else iswearing a new fashionable product.
Decision is based on whether or not it is appropriate for them.
Designer names do not play a major role in purchasers decisionmaking.
These consumers constitute a sizable segment of the fashion market.
-
8/8/2019 Consumer Study
22/31
22
Example:- Categories of Men in Specific
Psychographic groups
The Quiet Family man shy individual with little communityinvolvement.
The Traditionalist conservative shopper & wears moderately pricedclothing
The Discontented Man ambitious, off price merchandise
The Ethical Highbrow sensitivity towards others needs, quality isimportant.
The Pleasure-Oriented man macho type, self centered, shows offhis physique
The Achiever hardworking, interested in prestige, power & money,
likes adventure, social activities, food & entertainment. The He- man Action & excitement, dominant single individual.
The Sophisticated man intellectual, admires artistic & intellectualachievement., unique & fashionable.
-
8/8/2019 Consumer Study
23/31
23
Pleasure oriented
Sophisticated
Discontented
-
8/8/2019 Consumer Study
24/31
24traditionalistFamily man
-
8/8/2019 Consumer Study
25/31
25
Ethical eyebrow
He man
-
8/8/2019 Consumer Study
26/31
26
Buying Habits
Purchases are made at locations convenient to the
consumers home or work place.
If store satisfies the customers needs repeat businesswill happen.
Buying on line (saving on time)
The mall culture
-
8/8/2019 Consumer Study
27/31
27
SOCIAL CONSIDERATIONS
We often hear about the various social classes into
which our society is divided, in terms of income, goals
& attitudes.
They can be categorized into upper, middle & lowerclasses & then into subdivisions.
-
8/8/2019 Consumer Study
28/31
28
Upper Class-- Upper-Upper Class (inherited wealth , understated elegance) eg:- Armani, Louis
vitton
-- Lower Upper Class (newly rich, flashy, expensive) eg: - Mango, Tommy Hilfiger,levis
Middle Class
-- Upper-Middle Class (fashionable merchandise but cautious about the money) eg:DKNY, Van Heusen, Lee
-- Lower Middle Class (bridge merchandise) eg:- Express, Peter England
Lower Class-- Upper Lower Class (price important, buy fashion merchandise when its on
sale):- Walmart, Megamart
-- Lower-Lower Class (extremely price conscious, buy merchandise as necessities)
-
8/8/2019 Consumer Study
29/31
29
FASHION & CONSUMERRESEARCH
Study of market segments, buying motives,
sociological considerations & social classes provides
general information with which the fashion
professionals can evaluate the potential consumer
market.
satisfying consumers needs profitably
-
8/8/2019 Consumer Study
30/31
30
Research methods are of 2 types --
1) Qualitative - is subjective
2) Quantitative is objective & data driven
There are 2 types of data which is derived from differentresearch methods
1) Primary data is collected by individual researchers or
organizations to answer specific research questions
2) Secondary data is information that has already beencollected by another person or organization
-
8/8/2019 Consumer Study
31/31
31
RESEARCH PROCEDURE
Identifying & Defining the problem
Gathering Data
-- Company Records
-- Government Agencies-- Trade Associations
-- Periodicals
-- Focus Groups
Sampling & Collecting Data
-- Random sampling-- Non random sampling
-- Area Sampling
Processing & Analyzing Data