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CTE 3809 Final Exam Review Ch 8 Consumer Research Consumer Anthropology Methods originally used to study primitive tribes or subcultures have been adapted to study consumers buying behavior Helps companies understand motivators within a product category or the more specific motivators to buy a particular brand Focus Groups Interview teens in their rooms and look through their closets to understand the individual taste Install a video camera in the store Researchers with a clipboard Observe in store shopping behavior Asking What and Why questions Mall Intercept Research Market research conducted for a client using consumers recruited from shoppers in a mall who satisfy the requirements of the client Intercept consumers in the mall Ask preliminary questions Participants usually offered small incentive Companies gain insight into consumer preferences how they differ with location Drawback is time Takes several weeks to design study negotiate with study site distribute the research materials Asking What and How Many Questions Qualitative Research Researcher listens to consumer talk or observes consumers in natural settings Quantitative Research Researcher conducts surveys or experiments with a group of consumers the sample to understand a larger group the population Showcase or Laboratory Stores Stores where mega niche lifestyle brands can present their entire line as a billboard for the brand and educational environment for retailers on the latest in visual merchandising and a research site for gathering intelligence about what consumers want which products in the line are heating up or cooling down and which packaging and promotional initiatives are most effective Type of in store testing Measure actual behavior not attitude or intention Style Testing Pretesting styles with consumers to identify winners losers early enough in the product development cycle to enable styles with low consumer interest to be eliminated from further development Consumers sit in front of computer screen and asked to indicate preferred color styles etc Asking What and How Many Questions Ch 5 Consumers and Industry Fashion Innovation and Diffusion Accelerators Blogs Websites or parts of sites that contain ongoing commentary on products topics contributed by a self proclaimed expert rather than by advertisers Mass market consumers expect high fashion design innovations to diffuse quickly to lower price points Blogs can provide consumer created information and advice on a variety of products services Co design Mass Customization Defined as the mass production of individually customized goods Consumer involvement in design manufacturing process Lands End Ann Taylor Timberland Reebok Nike t shirts com timbuk2 99dogs com Co design design based on customer s selections from a range of design feature offerings Creative Class creativity New growing economic class consisting of purveyors suppliers of Creativity is a key factor in one s professional role Creativity as the driving force of economic growth today 30 of the US workforce 25 30 of industrialized European countries Changes in values and desires self expression individuality and creativity Designing for and marketing to this segment effective competitiveness Customer made Movement The phenomenon of corporations creating goods services and experiences in close cooperation with experienced and creative consumers tapping into their intellectual capital and giving them a direct say in what gets produced manufactured developed and designed Totally new design innovations or modifications Proctor Gamble more than 35 of innovations due to customer made projects Threadless com an ongoing t shirt design competition scored online for 7 days Smaller firms without a large R D or design team Strengthen the relationship between C B and contribute to customer loyalty Raise the question on future designer s role evaluate enhance and perfect designs rather than the originator of designs Pluralistic Aesthetic Personal style is determined by the individual resulting in an array of simultaneously expressed styles accepted by the culture Helps drive innovation Challenges for fashion forecasters Rich Media Consists of website features that enable creation and manipulation of product images to simulate actual experience with the products Zoom features mix and match product features virtual models 40 fewer returned products Vendaria for J C Penney Wal Mart 10 15 increase in online sales Stardoll com provides an example of rich media that allows consumers to mix and match products to create unique ensembles which can be posted on a personal link Style Confident Consumer Consumers who don t depend on an authority of taste to dictate how they or their environments should look Creative class Aesthetic appeal to differentiate between products instead of quality o Target vs Wal Mart o Not only fashion products o Bringing top designers design elements to mass market Max Azria at Wal Mart Aesthetic Imperative o Stresses the importance of aesthetic appeal in consumer decision o Cosmetic surgeons nail salons tattoo parlors Experiential retailing or marketing o Well designed innovative environments creating brand experiences o Pop up retailing stores and events open for a limited time Target in New York and London during fashion weeks Heavily rely on word of mouth or non traditional advertising outlets Allow the consumer to try product images on a virtual body form similar to Virtual Model his her own Ch 9 Sales Forecasting Consumer Confidence An index of consumer feelings of economic well being used to predict future consumer expenditures and turning points in the business cycle Consumer Confidence Index uses 5 questions and a mail survey of 5 000 households Index of Consumer Sentiment uses a phone interview to ask 5 questions about making big ticket purchases Results highlight demographic geographic differences Correlation or Regression Techniques Statistical techniques for comparing how a change in 1 variable causes a change in another variable Data Mining The ability to search through vast stores of data to answer complex business questions discover patterns in databases and find predictive information that lies outside experts expectations Requires a data warehouse Data Warehouse A system for storing delivering massive quantities of data Time Series Techniques Quantitative methods of arraying sales history data with the goal of predicting future sales levels Predict sales for the next


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FSU CTE 3809 - Chapter 8 Consumer Research

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