Activities The Marketing Interactions and Consumer Behaviour Group MICB examines marketing phenomena in both business-to-consumer and business-to-business contexts, building on an interdisciplinary approach that draws on knowledge from different fields, such as business management, psychology, communications, sociology, anthropology, philosophy, and economics. The scholarly work is characterised by the use of both quantitative research approaches e. MICB academics benefit from research collaborations within the School and the College, as well as from collaborations with other universities, external companies, charities, governmental bodies and the public.
Small businesses need to know the members of their target audience, what they want, where they are located and how they'll react to product promotions. They gather this information via surveys and studying data regarding the past behavior of consumers.
Data is obtained from a variety of sources such as marketing databases, sales history and the Internet. Sales Forecasts Organizations study past consumer behaviors to determine future sales.
Sales forecasts estimate the expected sales for a particular market during a specified time period. Sales forecasts cannot be higher than the market potential and usually fall short of expectations. Different methods exist for forecasting sales, most of which revolve around obtaining information directly from past buyers.
Some examples of forecasting methods are quantitative and qualitative. Quantitative forecasts predict the sales of products based on past results and qualitative forecasts predict sales based on expert opinions in the field.
Research Surveys Research surveys are conducted for the purpose of studying consumer behaviors. They help companies learn what consumers want, as well as how they respond to advertising. They also help pinpoint potential problems.
Some examples of research surveys are new-product concept tests, product use tests and brand name recognition.
Organizations conduct surveys in person, on the phone, through the mail and online. These surveys target specific population groups who share a similar set of characteristics.
Internet Research Companies, including small businesses, use the Internet to conduct much of their research, monitoring the Web-based behavior of consumers. Based on their findings, organizations determine the right prices, attributes and sales promotions for their products. They also reveal the optimal places and market conditions in which to sell.
The Internet is a cost-effective tool marketing research tool because it pinpoints target areas and is flexible enough to adapt to the changing demands of consumers.
Market Sensing Market sensing processes can help small businesses develop a competitive advantage by giving them a deeper understanding of customers. Organizations use different resources to study consumer behavior, and the process of compiling that data into a marketing and management information database is called market sensing.
The database provides the framework for integrating information and presenting it to management for decision-making purposes.of free samples on consumer trial and purchasing behaviour in the United States (Heilman, Lakishyk & Radas, ); the attitudes of consumers in the United States towards in-store promotional activities (Schultz & Block, ); the impact of in-store events on consumers’.
The Marketing Interactions and Consumer Behaviour Group (MICB) examines marketing phenomena in both business-to-consumer and business-to-business contexts, building on an interdisciplinary approach that draws on knowledge from different fields, such as business management, psychology, communications, sociology, anthropology, philosophy, and economics.
Consumer Buying Behavior I. MARKETING, RELATIONSHIPS, AND CONSUMER BEHAVIOR A. Consumer behavior comprises all the consumer decisions and activities connected with choosing, buying, using, and disposing of goods and services.
consumer behavior. Language is an essential part of any culture. Consumers through languages receive the message from companies, they receive advertising messages.
Religion also influences consumer buying behavior because certain products are religious biased and religious conscious (Mokhlis, ). There are various aspects of consumer behavior in which consumer decision-making is a vital area which should be There is varied form of promotional activities being performed by the marketers.
Studies suggest that among the several sales impact of sales promotion tools on purchase decision towards white good (refrigerator). iii. To. Therefore, this work is systematically made towards uncovering the impact of promotional activities of product offering on a consumer as he makes his purchase decisions.
That is to say, the impact of promotion on consumer patronage.