An individual who goes for shopping does not necessarily end up buying products.
Hurd and Denise M. Since the customer is the cornerstone of marketing, it is imperative to answer these two questions: Who are our customers? What do we know about them? This section of the marketing plan delves into market research, market segmentation, target marketing, and consumer behavior.
Market Research Market research is the systematic process of collecting, analyzing, and reporting information to enhance decision making throughout the marketing planning process Shank Market research is used to answer any number of questions about products and customers, including the following: Product Information Needs What do customers want from our products?
How do they view our products? What products do they use? How big is our market?
Where and when do customers register for programs? How often do they participate in programs? How far do customers drive to use our products?
Where do customers hear about our products? Market research data are either primary or secondary. Primary data come directly from consumers. Data can come from surveys, interviews, observations, focus groups, or Internet surveys. The process for collecting these data is much like that for collecting evaluation data see chapter 4.
Secondary data, on the other hand, are compiled by market research firms and are available for purchase. These data include demographics, psychographics, product use, advertising preferences, and so on.
Primary data can come from internal and external sources. Good sources of internal data come from registration systems because customers must complete basic information about themselves and their families.
Amazon asks for basic demographic data, tracks purchases, and then recommends books or materials that are similar to those of past purchases. Customer loyalty cards are another source of information. Grocery stores promote these cards as a way of giving discounts, but they are really using the cards to track purchases and gain a demographic profile of purchasers and their products.
External primary data can be gathered from the Census Bureau, a local chamber of commerce, or libraries. Much of these data are demographics, but demographics can prove valuable when determining the target market.
Market research is essentially gathering data so that marketing decisions can be made. Without data on customers, good decisions become guesses. Poor guessing results in wasted resources. Market Segments and Target Markets Market research provides the ability to segment markets.
Market segmentation is the process of dividing a large and heterogeneous group of people into smaller, more homogenous groups with similar wants, needs, and demographic profiles. Market segments divide the population into groups who are likely to respond to a certain marketing mix Mullin, Hardy, and Sutton Target marketing then selects one or more of the market segments to direct its efforts toward.
Some parks and recreation agencies, especially those in the public and nonprofit sectors, feel they must provide services for everyone.
Thus they direct their marketing efforts to the general public instead of a targeted group. Known as mass marketing, this approach is often a waste of resources.
Selecting a target market does not mean that people outside the target market are excluded from participating.The comprehensive literature review of consumer behavior research undertaken in this article could advance the discipline of consumer behavior research by elucidating the evolution of consumer behavior literature in the studied period.
Consumer behavior: Building marketing strategy. New York, NY A year content analysis. Industrial. consumer buying behaviour Consumer is the king and it is the consumer determines what a business is, therefore a sound marketing programme start with a careful analysis of the habits, attitudes, motives and needs of consumers.
As a field of study, consumer behaviour is an applied social science. Consumer behaviour analysis is the "use of behaviour principles, usually gained experimentally, to interpret human economic consumption." As a discipline, consumer behaviour stands at the intersection of economic psychology and .
Analyzing Consumer Markets “Consumer behavior is the study of how individuals, groups and organizations select, but, use and dispose goods services, ideas or 5/5(3).
Consumer behaviour is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services, including the consumer's emotional, mental and behavioural responses that precede or follow these activities.
Consumer behaviour emerged in the s and 50s as a distinct sub. Easily connect digital analytics data to Watson with pre-built schwenkreis.com has been visited by K+ users in the past month.