Unit 2: Understanding Consumers

 How well do you know your existing and prospective customers?

This course unit aims to bring you closer to your customers by introducing some general aspects related to the consumer’s buying decision-making process, as well as by exploring ways of discovering customer needs and wants through the implementation of marketing research.

By the end of this course unit, you will be surprised how even a simple low-cost marketing research can contribute to the discovery of valuable insight which will in return inform the strategic development of your enterprise!

Meet the Instructor

 

     Margarita Komninou - PhD, MSc, MRes

    Currently, I am a postdoctoral research fellow at the National Centre for Social Research (EKKE) in Greece 

    and I also teach at the University of Patras

    Visit my homepage

 

 

Meet the entrepreneurs 

For this course unit, we have incorporated real stories from young entrepreneurs based in Greece. (You can wach the short videos below to get a feeling of their business before listening to their stories)

 

 

Clio Muse: Yannis Nikolopoulos (co-founder)                                                         TOBEA: Ignatios Fotiou (co-founder)

 

Iamvi: Dimitris Tsalpatouros & Giorgos Papanikolaou (co-founders)

Objectives

 

By the end of this unit, you should be able to:

  • Recognise important factors that influence the decision making process
  • Recognise the importance of marketing research and its relevance to strategic business planning
  • Design your own marketing research
  • Reflect upon your customers’ needs and revise your business strategy accordingly

Introduction

 

This course unit is divided into two thematic units:

  • Thematic Unit I: Essensials of Consumer Behaviour
  • Thematic Unit II: An Introduction to Marketing Reseach

 

The first thematic unit (Essentials of Consumer Behaviour) aims to introduce some basic concepts about consumers and their behaviour patterns. This will help you gain a better picture of how customers think and what drives their behaviour.

The second thematic unit (An Introduction to Marketing Research) aims to explain some basic ideas regarding marketing research and to provide you with some guidelines to help you undertake your own marketing research project.

Complete all learning paths below and you will be a step closer to understanding one of the most important aspects of your business; that is, your customers and their needs.

Thematic Unit I: Essentials of Consumer Behaviour (duration 2 hours)

Understanding your Customer

An introduction to Consumer Behaviour

Understanding consumer decision making process

Learn to distinguish between the 5 stages of the buying decision-making process.

Factors influencing Consumer Behaviour
Who is your target customer? Understand your target customers' profiles and the factors influencing their behaviour

Thematic Unit II: An Introduction to Marketing Research (duration 2 hours)

The importance of Marketing Research

Listen to the way TOBEA finds out about customer needs. Understand marketing research and its important role for business.

How to conduct research

Understand the 5 steps of a marketing research process, and distinguish between secondary and primary data.

Quantitative techniques for data collection

See how Clio Muse used surveys to get closer to clients and develop products. Learn about surveys and the different types of questions you can use in your questionnaires.

Qualitative techniques for data collection

Learn how to organise and run a focus group that will generate valuable marketing insight for your business or business idea. 

 

 

Additional Reading

Marketing Research_ A short Guide

A short marketing research guide for young entrepreneurs

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein