A Synopsis on
“A Study on consumer behaviour formally investigates individual qualities”
Submitted to
Yashwantrao Chavan Maharashtra Open University
School of Commerce and Management
Nashik
In partial fulfilment of the requirement for the award of the degree
Of
Master of Business Administration (MBA)
Submitted By
Under the Guidance of
Through
The Coordinator
Study Centre Code
2020-2021
Introduction
Consumer behaviour analysis is the study of how individuals, groups, or organisations select,
buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants
It is a crucial aspect of marketing research and strategy development as it helps marketers
understand why consumers make the decisions they do and how they can influence those
decisions.
Consumer behaviour analysis involves examining the factors that influence the purchasing
decisions of individuals and groups. This includes understanding how consumers perceive,
evaluate, and select products and services. The scope of consumer behaviour analysis is
broad, covering various aspects of consumer decision-making, including psychological,
social, cultural, and economic factors.
Understanding consumer behaviour is essential for marketers to develop effective
marketing strategies and campaigns. By understanding what drives consumer decisions,
marketers can tailor their offerings to meet consumer needs and preferences.
Consumer behaviour analysis helps marketers identify market trends, predict consumer
behaviour, and anticipate changes in demand. This allows marketers to stay ahead of the
competition and adapt their strategies accordingly.
Additionally, understanding consumer behaviour can help marketers identify new market
opportunities and develop innovative products and services that meet consumer needs.
Ultimately, consumer behaviour analysis enables marketers to create value for consumers,
build strong brands, and drive business growth.
Importance and Significance of Study
Understanding consumer behaviour is essential for marketers to develop effective is
marketing strategies and campaigns. By understanding what drives consumer decisions,
marketers can tailor their offerings to meet consumer needs and preferences. Consumer
behaviour analysis helps marketers identify market trends, predict consumer behaviour, and
anticipate changes in demand. This allows marketers to stay ahead of the competition and
adapt their strategies accordingly. Additionally, understanding consumer behaviour can help
marketers identify new market opportunities and develop innovative products and services
that meet consumer needs. Ultimately, consumer behaviour analysis enables marketers to
create value for consumers, build strong brands, and drive business growth. Drive Brand
Management Excellence: To drive brand management excellence by understanding
consumer perceptions and interactions with brands, fostering brand loyalty, and building
brand equity. Support Policy Development: To support the development of policies and
regulations that protect consumer rights, promote fair market practices, and contribute to
societal welfare.
Objectives of Study
1. Enhance Marketing Effectiveness: To improve the effectiveness of marketing
strategies and campaigns by gaining insights into consumer decision-making
processes and behaviour.
2. Strengthen Competitive Positioning: To gain a competitive advantage by
understanding consumer preferences better than competitors and positioning
products and services accordingly.
3. Drive Product Innovation: To drive product and service innovation by uncovering
consumer insights and preferences that inform the development of new offerings or
enhancements to existing ones.
4. Understand Consumer Needs and Preferences: To investigate and comprehend the diverse
needs, preferences, and behaviours of consumers across different demographics and market
segments.
5. Identify Market Opportunities: To identify untapped market opportunities and areas
for innovation by analysing consumer trends, emerging preferences, and unmet
needs.
HYPOTHESES
1. H1 - There is a significant difference in consumer preferences across demographic
variables such as age, gender, income, and location.
2. H2 - Consumers exhibit latent demand for innovative products/services that address
unmet needs or provide novel solutions in the market.
Research Methodology
Data collection
In-depth interviews: Conduct semi-structured interviews with consumers to explore
their needs, preferences, attitudes, and behaviours in-depth. Focus groups: Organize
focus group discussions to facilitate interaction and exploration of shared opinions
and experiences among participants.
Primary data
Surveys and Questionnaires: Surveys and questionnaires allow researchers to gather
information from a large number of respondents efficiently. Questions can be
designed to elicit data on various aspects of consumer behaviour, such as purchase
intentions, brand preferences, product satisfaction, and demographic characteristics.
Secondary data
Secondary Data Analysis: Researchers can also analyse existing data sources, such as
market research reports, sales data, and customer reviews, to gain insights into
consumer behaviour. Secondary data analysis can provide valuable context and
complement primary data collection efforts..
Expected Contribution
Consumer behaviour is important for businesses as it helps them understand and satisfy the
needs of consumers, which is crucial for their survival and success. The field of consumer
behaviour covers a wide range of topics, including perception, goals and motivation,
interpersonal processes, and societal level issues.
CHAPTERIZATION
Chapter I - Introduction
Chapter II -Theoretical Background
Chapter III - Industry Profile: Retail Industry
Chapter IV - Data Presentation
Chapter V – Findings, conclusion and suggestions.
BIBLIOGRAPHY
1. Insights from Indian Market – By Majumdar, Ramanuj
2. Human Element – By Loran David Schonthal, Loran Nordgren
WEBLIOGRAPHY
www.amazon.com
www.humanelementbook.com
www.phiindia.com
Sign of Research Candidate Sign of Research Supervisor
