Purchase Decision Dynamics
Purchase decision dynamics are ways in which consumers make decisions about buying or using products or services. Consumer buying behavior varies among people with different backgrounds, and in most markets it is possible to identify market segments that are most and least likely to use or buy a particular product or service.
Men, for example, choose products in very different ways than do women, and people from different parts of the country or with different ethnic or cultural backgrounds may react in different ways to a new idea. Businesses are most likely to market their products or services effectively if they take into account these differences among consumers in the design, pricing, packaging, and delivery of those products or services.
Purchase decision dynamics research is most commonly conducted within the retail sector, although the techniques are applicable across a broad spectrum of industries (both commercial and non-profit) and can include, among other marketing research methodologies:
- Market segmentation analyses using survey or other quantitative data
- Branding studies
- Conjoint analyses and other multiple regression statistical techniques
- Demographic and ethnographic segmentation
- Focus groups
- In-depth interviews and other qualitative research
- Awareness and attitude studies
- Observation of shopping behavior and preferences
- Pre- and post-advertising awareness surveys
Market Street Research has designed and conducted marketing research on purchase decision dynamics for more than 35 years, for both businesses and health and human services clients. Our approach is thorough, vigorous, and oriented toward effective decision-making-we use statistics to find results rather than “interesting findings” that may or may not reflect your business or organizational reality.
Conjoint analysis, for example, is often used to identify market segments based on people’s demographic or decision-making characteristics. We analyze these results to identify market segments that make practical sense, given what you know about your industry, your competitors, and your strengths and weaknesses.
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