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What is Consumer Research Process in Consumer Behaviour ( 7 Steps )

What is Consumer Research Process in Consumer Behaviour ( 7 Steps )
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Consumer Research Process is the type of basic research conducted to know the tastes and preferences of the customers so that company can market the products according to their changing tastes and preferences. So, The Consumer Research Process Notes includes various Steps like:-

  1. Identification or Formulation of problems or opportunities,
  2. Establishing the Design for Market Research,
  3. Choosing a Basic Techniques of Research,
  4. Select the Best Sampling Procedure,
  5. Collection of Data,
  6. Analysis of Data,
  7. Preparing the Report.

1.Identification Or Formulation of Problems or Opportunities-

This is the first consumer research process and it means to do research for analyzing and formulating the problems and opportunities of consumer behavior. This step will help to identify the causes, objectives, and remedial measures to solve the problem. Consumer Research Process ExampleTechnological Advancement, Tastes, and Preferences, and high unemployment rate.

2. Establishing the Design for Market Research-

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This is the secondary consumer research process and it means,

(i) It is a planned theme for made by the researchers for follow to answer the research objectives,

(ii) It helps to researchers for doing a market research with three forms-

  • Descriptive Design-

In descriptive design, the researchers find the answers of related questions. It is calculated by Mean, Median, and, Mode of the data collected. For eg– 30% of the persons said they like Virat Kohli.

  • Casual Design-

In casual design, we will examine the one variable with another and second variable. It can be calculated by regression analysis to formulate the combination of two or more variables. For eg– the older the respondent, the more he/she likes Virat Kohli.

3. Choosing a Basic Techniques of Research-

This is the third consumer research process and it means choosing a word determines the targeting. It includes various techniques for solving the problems:

(i) Market Survey-

the survey is the essential part of research and by which the researchers can acquire the market data, trends, and changing factors.

(ii) Observations-

Observation includes cellular data by which the researchers observe the source of data’s and factors.

4. Select the Best Sampling Procedures-

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This is the fourth consumer research process and it means the sample is a subset or sub-part of the individual term. In this, there are two types of sampling will be used, first is probability and second is non-probability. We can give the information related to the population and number of respondents which constitutes sample size.

5. Collection of Data-

This is the fifth consumer research process and it means data collection is the proper of systematic order to gather the necessary information collected by the various sources. The researchers will collect the data from various sources:

(i) Creating surveys in a particular target market for acquiring the necessary information related to their problems.

(ii) Through direct marketing (from website surveys, email marketing surveys, creating ads for surveys and so on.

(iii) Through market mediators and government reports,

(iv) Through personal interaction of public.

6. Analysis of Data-

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This is the sixth consumer research process and it means observation of data, it consists or analyzes the particular data and transform into meaningful information.

The collected data is analyzed using statistical tools such as S.D., correlation, regression, Keyes square test, e-test, f-test, and ANOVA (Analysis of Variants).

7. Preparing the Report-

This is the seventh consumer research process and it means in this last process step, the researchers should communicate their reports to the team and managers (in the form of oral or written).

And, in this, the researchers made the report of market research for solving the queries. The reports also contain various points like:

  • Approval Letter,
  • Table of Contents,
  • List of Examples,
  • Methadology research,
  • Research Goal,
  • Techniques,
  • Results,
  • Hypothesis,
  • Conclusions.

I hope you learned the concept of Consumer Research Process in Consumer Behaviour…

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