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Comprehensive Guide to Consumer Behavior Research and Target Market Analysis

This document outlines essential research objectives for understanding and analyzing consumer behavior. Learn how to identify your best customers, conduct demographic and geographic analyses, and uncover lifestyle insights. It emphasizes the significance of both primary and secondary research methods, providing tips for effective survey design and sampling strategies. Understand the role of decision-making models in influencing consumer choices and refine your marketing tools for better engagement. Equip yourself with the knowledge to reach your target audience effectively and optimize your marketing efforts.

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Comprehensive Guide to Consumer Behavior Research and Target Market Analysis

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  1. Research & Consumer Behavior H Edu 4310

  2. Activity • On The Draw • “Drawing” the Customer

  3. Research Objectives • Who are my best customers? • How do I find more like them? • Where do they live?

  4. Research Objectives • What is their lifestyle? • What do they read, listen to, watch? • How can I reach them effectively?

  5. Target Market Analysis • Geographics • Demographics • Volume concentration • Product usage • Potential markets

  6. Business • Location • Number of employees • Interests • Spending patterns • SIC codes

  7. Health Care Specifics • Influence of physicians vs consumers • HSO image • Role and effectiveness of different marketing tools

  8. Research

  9. Research • Primary research • Secondary reserach

  10. Secondary research • Internal records • Government • Trade, professional groups • Competitors

  11. Secondary research • Private organizations • Marketing firms • Universities • Published sources

  12. Primary research • Questionnaire… • Dichotomous questions • Multiple choice • Semantic differential • Likert-scale • Open-ended

  13. Some ideas... • Keep it short • Keep it simple • Keep it clear • Opinion vs fact

  14. Some ideas... • No double-barreled questions • No bias • Keep format similar • Pretest

  15. Mailing • Attach a letter of explanation • Use first-class mail • Provide return postage • Follow up with a postcard • Send out more rather than less • Enclose a reward

  16. Sampling • Identify populations • Sampling frame • Sampling unit • Sampling method

  17. Sampling method…Probability • Simple random • Systematic • Stratified random • Cluster

  18. Non-probability • Convenience • Judgment • Quota

  19. Sampling • Sample size • Sampling plan

  20. Qualitative data • Observation • Focus groups

  21. Health practice checkup • Personal interviews • Patient surveys • Focus groups • Suggestion boxes • Mystery shopper

  22. Marketing research steps • Problem statement/objectives • Research design • Probability or non-probability • Collect data • Analyze data • Presentation • Implement and evaluate

  23. Activity • Small groups • Develop a 10-question survey re: student health • Review with class

  24. Consumer Behavior

  25. Decision-making model • Problem recognition • Internal search • External search • Alternative evaluation • Purchase • Post-purchase evaluation

  26. Problem recognition • Motivation • Attitudes • Lifestyles • Learning • Perception

  27. Problem recognition • Social class • Reference group • Culture • Hierarchy of wants

  28. Decision-making model • Internal search • External search • Alternative evaluation • Purchase • Post-purchase evaluation

  29. Influencing decision • Modify the service • Alter perceptions of the service • Alter perceptions of competitor’s brands

  30. Influencing decision • Alter the attribute importance weights • Call attention to neglected attributes

  31. Activity • Choose two goods/services purchased– one less than $20 and one more than $100. • Explain the decision making process per discussion.

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