Recently, I conducted a session with a group of new entrepreneurs and startups, where I explained consumer behavior, GAP analysis, SWOT exercises, and customer buying patterns.
Additionally, I discussed the application of psychometric assessments to provide insights into employee characteristics suitable for their roles.
The entrepreneurs wanted to know why it is essential to carry out market research and validation activities before launching a product campaign.
Today, I want to simplify the process for new entrepreneurs or startups with an easy-to-follow chronology for you to use. I hope you find this beneficial, insyaAllah.
Consumer Behavior Research in Marketing
1. Scope of Consumer Research:
a. Who is buying
b. What is being bought
c. Why a product is bought, how consumers buy, where they buy, and how frequently they buy
2.Factors Influencing Purchase Decisions:
a. Social factors
b. Personal factors
c. Economic factors
d Psychological factors
3. Factors Influencing Consumer Behavior:
a. Culture
b. Sub-culture
c. Social class
d. Reference and aspirational membership groups
c. Family
4. Internal or Psychological Factors Influencing Consumer Behavior:
a. Perception
b. Learning
c. Personality
d. Attitude
e. Motivation
5 Types of Purchase Decisions:
a. Extensive problem-solving
b. Limited problem-solving
c. Routine problem-solving
d. Consumer goods purchasing process (identification, information search, evaluation of alternatives, making a purchase, and post-purchase behavior)
6. Marketing Research Aims to Obtain Information Through:
a. Competitive pressure
b. Market expansion
c. High marketing costs
d. Increasing consumer expectations
I hope you can implement this with your team, insyaAllah. If you need any information or assistance with market research, market validation, entrepreneurship training, or coaching, please contact [email protected].
