Consumer behaviour market research
A big part of consumer behaviour is system 1 and 2 thinking – how we make decisions. System 1 is initial thoughts and is how we make most of our decisions, system 2 is when we make a decision based on more in-depth facts. For example, if a customer is deciding which box of cereal to buy, they will most likely make their decision on the packaging (system 1), however, they could make their decision based on ingredients or calories (system 2).
A further important factor to understand consumer behaviour is a company’s brand equity. Good relations between a company and their customers will create a positive brand equity and increase sales over their competitors. A negative brand equity, commonly instigated by poor products or customer services, will change the consumer behaviour.
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Contact usContact us today to discuss your next market research project and discover how we could become a valuable extension of your team.
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