Consumer Analysis

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CONSUMER ANALYSIS AND BUSINESS STRATEGY

INTRODUCTION
The American marketing association: www.marketingpower.com defines market research as: "The systematic gathering , recording, and analysis of data about problems relating to the marketing of goods and services". Consumer analysis is an important part of this marketing research.
Without marketing research, it is quite impossible today to start any business. Consumer analysis is the first step of any marketing research.
In this module, our objective is to develop your skills in consumer analysis.
Consumer analysis allows you to identify your prospect and segment market. The objectives of this consumer analysis lesson are to give you the fundamental notions about:
-Customer benefit.
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If he does not pay too much attention, there is a low involvement product.
Of course, all the expensive products are always high involvement products: Flats, cars, antiques and so on. Nevertheless, some inexpensive products can be said high involvement products: For example, the consumers pay attention in buying cheap drugs because health is an important stake. What is more, this feature depends also on the customer: For example, a fashionable dress is a psychological benefit but it becomes also a high involvement item for a theater actor who is mainly judged on his appearance.
So, it is always fruitful to bring some high involvement topics to your product. For example, if you can assert that your yogurt contains specific vitamins, you bring a high involvement feature to a quite basic product. It enables you to differentiate your product from the competition and to charge a high price.
Finally, the product which gives the greater benefit to the consumer must gather both three characteristics: Functional benefits, psychological benefits, high involvement features.
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In this drawing, the big circle represents a star because the product combines both functional, psychological and high involvement benefits.
1.4-User and purchaser benefit
During this analysis, you have to distinguish the user and the purchaser
In business to business, You sell a big computer or a software to the heads of the corporate and you
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