MBA404 - T2 2023

Consumer Behaviour and Marketing Psychology

Name: Rupesh Awasthi

Introduction.................................................................................................................................................3
Survey Summary..........................................................................................................................................3
Analysis and Key Findings............................................................................................................................4
Current Consumer Behavior Trends............................................................................................................6
Introduction

The survey is done to extract information’s related to consumer behavior and preferences of our
product Dyson V8 vacuum cleaner which will be valuable for the company for analysis purpose and take
important steps to increase sell of the product. The survey analyzes customer preferences based on age,
gender, occupation, income, qualification, lifestyle, senses, actions, decision, influence, reason for
purchase, and advertisement types. Total of 17 questions are asked in this survey.

Survey Summary

The first survey data shows that the sample consists of individuals aged 26 to 57. The majority of
respondents (40.74%) are between the ages of 26 and 41, while 59.26% fall within the 42-57 age group.
Regarding gender, 62.96% of respondents are male, while 37.04% are female. In terms of occupation,
66.67% of respondents are employed, 29.63% are self-employed, and 3.70% are retired. When asked
about yearly income, 3.70% earn less than $18,200, 11.11% earn between $18,201 and $45,000, the
highest percentage of 44.44% earn between $45,001 and $120,000, followed by 33.33% earning
between $120,001 and $180,000, and only 7.41% earning more than $180,000. For combined yearly
household income, 7.41% earn less than $50,000, 18.52% earn between $50,001 and $100,000, the
highest percentage of 29.63% earn $100,001 to $150,000, 18.52% earn $150,001 to $200,000, and the
second-highest percentage in the survey of 25.93% have a combined income of more than $200,000. In
terms of education, 62.96% have completed a master's degree, while the lowest percentage of 3.70%
hold an advanced diploma. Only 7.41% have a bachelor's degree, and the second-highest percentage of
25.93% hold a PhD or doctorate. Regarding to the analysis of the influence of various Family Life Cycle,
40.74% of respondents are parents, followed by 22.22% in the post-parenthood stage, 14.81% fall into
unspecified categories, 11.11% are married, 7.41% are single, and 3.70% are surviving spouses. When
asked about the senses that influenced their decision to buy a product/service, 48.15% paid attention to
all stimuli, 18.52% focused solely on sight, and 33.33% considered multiple stimuli. In terms of decision-
making, 48.15% conducted in-depth research, 37.04% compared alternatives, and 14.81% consulted
social media. Regarding the factors that influenced their purchasing decision, 59.26% wanted personal
satisfaction, 22.22% sought validation of their opinion, and 18.52% sought validation through others'
perspectives. In terms of importance, 48.14% prioritized feeling in control of their surroundings, 44.44%
emphasized asserting their individuality among peers, and the same percentage of people highlighted
the importance of being in the company of others. Opinions on statements in the survey included
55.56% agreeing that the product fulfills basic needs, while 7.41% disagreed. 55.56% agreement was
observed for the statement regarding the product providing a sense of security. 51.85% agreed that the
product offers a sense of belonging. Regarding the product's effects on personal development, 48.15%
were neutral. The highest percentage (64%) was neutral in response to whether the product makes
them feel complete. When asked about significant influences on their purchases, 38.46% mentioned
immediate family and experts/professionals, 7.69% cited friends, 3.85% mentioned social media, and
11.54% reported no influence from the provided options. Opinions on statements included 55.56%
disagreeing with a hierarchical order over unequal power distribution in society, 29.63% remaining
neutral, and 14.81% in agreement. 51.85% agreed with prioritizing self-care and care for immediate
family, while 44.44% disagreed with prioritizing achievement, heroism, assertiveness, and material
rewards over cooperation, modesty, caring for the weak, and quality of life. 40.74% were neutral
regarding discomfort with uncertainty and ambiguity. Similarly, 42.31% were neutral on living in the
present vs. the future. 40.74% preferred enjoying present happiness instead of sacrificing it for the
future. Motivations for buying the product/service included 40.74% affiliating with a social group, same
percentage of 7.41% wishing to become a member of a certain group and also avoiding a certain group
and 44.44% chose none of the above. Regarding preferred types of advertisements, 59.26% enjoyed
funny ads, 14.81% liked rational ads, 7.41% preferred scary ads, and 3.70% had an interest in fear of
missing out ads. 14.81% found ads annoying and a waste of time, selecting none of the provided
options.

Analysis and Key Findings

Surveys of a product or service gather data through structured sets of questions or prompts designed to
collect information from respondents. The data gathered from the survey provides valuable insights that
organization can use to make informed decisions, improve their products or services, and tailor their
offerings to better meet the needs and preferences of their target audience. It's important to analyze
and interpret the data in order to extract actionable insights and drive positive changes (McCombes,
2019).

A survey designed to investigate consumers' perceptions, attitudes, motivations, and cultural and
individual factors would employ various types of questions and methodologies to gather this
information. Like for gaining customer’s perceptions asking direct questions about quality of the product
and overall impression of the company. Presenting statements related to the product or service and ask
to rate their level of agreement or disagreement. Using a scale with pairs of opposing adjectives to
measure attitudes. Also providing an opportunity for respondents to express their attitudes in their own
words without predefined response options which can offer deeper insights (Brandwatch, 2016).

Asking respondents about past behavior or intentions regarding the product or service and inquiring
about the specific needs or desires the product or service fulfills the customer which can shed lights on
underlying motivations. Also including questions about respondent’s cultural background, nationality,
ethnicity, and other relevant demographics. Employing validated scales or questions to measure
personality traits or lifestyle factors that may affect consumer behavior and about interests, hobbies,
and lifestyle choices that might impact their preferences for certain products or services. Combining
both quantitative (structured questions with predefined response options) and qualitative (open-ended
questions allowing for detailed responses) elements. This provides a more comprehensive
understanding. Before administering the survey to a larger sample, conduct a pilot test with a small
group to identify any issues with question wording, flow, or response options. Ensure that the sample is
diverse and represents the target population in terms of cultural and individual characteristics. Ensure
that the survey respects respondents' privacy, and adhere to ethical guidelines. This includes obtaining
informed consent and protecting sensitive information. By employing a combination of these
techniques, a survey can effectively investigate consumers' perceptions, attitudes, motivations, and the
various cultural and individual factors that influence their behavior (Picincu, 2020).

When inquiring about age, gender, occupation, income, and qualification in a survey, researchers
typically rely heavily on consumer behavior theories and concepts. Instead, these questions are more
straightforward and aim to gather basic demographic information. They are critical for demographic
segmentation and understanding consumer profiles. They lay the foundation for more targeted
marketing and product development efforts, as well as for conducting analyses based on demographic
variables (Profile, 2009). As we can see from the data more than 50% are above age 40 purchasing the
product which shows need of product is more for the middle aged people. Similarly, 62.96% of male are
purchasing the vacuum that clearly shows men’s need for the product is more as compared to female.
The product is mostly owned by employed people so that they can complete their cleaning task in lesser
time as they are busier as compared to unemployed, retired and students. The product owners are
earning more than average yearly which is greater than $45,000 which implies product is loved specially
by high earners. Form the survey of highest qualification, most of them (about 89%) have completed
Master’s degree. Highly educated respondents are preferring the product as compared to less educated
people. From question number 7, question is asked about their current circumstances, mostly married
person need the product as only 7.41% of the respondents are single. The theory that specifically
addresses the influence of current circumstances on consumer behavior is Family Life Cycle Theory. This
theory suggests that an individual's purchasing decisions and consumption behavior are influenced by
their stage in the family life cycle. The family life cycle is typically divided into various stages, including
bachelorhood, newlyweds, full nest, empty nest, and so on. Each stage is associated with specific needs,
preferences, and consumption patterns (Velaudham, 2019). The survey about indicating which of the
five senses (sight, smell, taste, touch and hearing) may have led to the decision to buy the
products/services resulted in 48.15% paying attention to all stimuli. The importance of considering these
sensory elements in product development, packaging, retail environments, and marketing strategies. By
appealing to consumers' senses, businesses can create more engaging and memorable experiences,
ultimately influencing purchase decisions (Quan, 2021). Surveying people about action taken before
buying the product, decision made to buy the product and reason for purchasing it falls under Consumer
Decision-Making Process. This theory outlines the stages individuals go through when making a
purchase: problem recognition, information search, evaluation of alternatives, purchase decision, and
post-purchase evaluation (Rosenstreich, 2013). 48.15% conducted a depth research implies that
customers are very serious about choosing the product carefully. 59.26% wanted to make themselves
happy that means product can provide a sense of happiness as well. Also more than 50% of the
respondents agrees on product/service fulfills basic needs, provides a sense of security and a sense of
belongingness. This clearly shows that consumers have a hierarchy of needs that influence their
consumption decisions which is related to Maslow’s Hierarchy of needs. The choice of product is mostly
influenced by close family members and experts according to the data of question number 14. Here,
equal percentage of 38.46% people considers immediate family and experts while making decisions of
making such purchases. Most of the respondents which is 40.74% belongs to social group with common
values, attitudes and behaviors for buying the product. The results imply purchase of a product is highly
influenced by the surrounding people having similar kind of personality and religion. Finally, 59.26% of
people finds funny ads more enjoyable so the company should consider making funny ads in their first
priority. Using theories and concepts in your inquiries helps provide a structured approach to
understanding consumers' behavior. It allows for a deeper exploration of the factors that influence their
perceptions, attitudes, motivations, and the impact of cultural and individual elements. This information
is crucial for businesses to tailor their products, services, and marketing strategies to effectively meet
the needs and preferences of their target audience (Essays, 2021).
Current Consumer Behavior Trends

In today's world, people are shopping online more than ever before. This means that companies need to
have really good websites and make sure they're safe and easy to use. If a website is hard to use or not
secure, customers might not want to buy from that company. People like it when things are made just
for them. This is why companies should try to give personalized experiences and suggest products that a
person might like. If a company doesn't do this, customers might not feel special and might not want to
come back. Being kind to the Earth and doing things in an ethical way are really important to people
now. So, companies should try to use eco-friendly materials and be honest about where they get their
stuff from. If they don't, customers might not trust them and might not want to buy their products.
Social media is a big deal, and people trust what their friends say. So, companies should be active on
social media and listen to what people are saying about them. If a company ignores social media, they
might lose out on lots of customers. Something else to keep in mind is that lots of people use their
phones to do things like shop and browse the internet. So, it's really important that a company's website
works well on phones. If it's hard to use on a phone, people might go to a different website instead.
Paying for things should be easy and safe. That's why companies should offer different ways to pay, like
with a phone or a digital wallet. Keeping healthy is on everyone's mind, especially after recent events.
Companies that sell things related to health should make sure they tell customers about the benefits
and safety of their products. Additionally, when it comes to convenience, people want things fast and
easy. So, companies should make sure they can deliver products quickly and have simple return
processes. If it's too complicated, people might not buy from them. Videos have also become a really
popular way for people to learn about products. Platforms like YouTube are used a lot. So, companies
should think about making videos to show off their products. People really care about their personal
information. Companies need to be open and honest about how they use it. If they're not, customers
might not trust them and might not want to do business with them. So, these trends matter a lot for
companies. In conclusion, these trends are very important for companies to think about because they
affect how customers choose to buy. Companies that understand and act on these trends will have a
better chance of success. They'll also build stronger relationships with their customers, which is really
important for business growth (Howarth, 2023).
 References

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Howarth, J. (2023, 03 22). 9 Key Consumer Behavior Trends (2023-2026). Retrieved from Exploding
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McCombes, S. (2019, 08 20). Survey Research | Definition, Examples & Methods. Retrieved from Scribbr:
https://www.scribbr.com/methodology/survey-research/

Picincu, A. (2020, 09 17). Consumer Behavior Research Methods. Retrieved from Chron:
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Quan, N. H. (2021, 05 18). THE IMPACT OF SENSES ON PURCHASING DECISIONS. Retrieved from
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Rosenstreich, T. M. (2013). A review of consumer decision-making models and development of a new.

Velaudham, C. (2019, 07 28). MARITAL DIFFERENCES TOWARDS CONSUMER BUYING BEHAVIOUR.