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Consumer Insight Research Report Assignment Sample

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Consumer Insight Research Report Assignment Sample

Chapter 1: Introduction

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1.1 Marketing Problem

Customers now have higher expectations than ever before, and retailers are in a better position than they have ever been in the past as a direct result of a more competitive market and shifting firm dynamics (Palalic et al., 2020). The success of a producer over the long run and their ability to maintain their financial well-being are significantly dependent on the strength of their connections with their consumers. Because of the explosive growth that has taken place in this industry over the last several years, the beauty goods sector is today one of the most important parts of the worldwide economy. In today’s fast-paced culture, it is possible for those who are too busy to buy face-to-face to purchase things online.

During the course of the last ten years, customers’ buying behaviours have undergone significant shifts. Despite the fact that many people still like shopping in person, more and more people are turning to internet retailers for their purchasing needs. Customers in today’s world who are either too pressed for time or unable to commit to an extended period of window shopping have a saviour in the form of online purchasing (Buabeng-Andoh, 2018). It is essential to investigate and learn about the factors that play a role in the shopping choices of online consumers if one wants to successfully sell to online shoppers. Users have developed new expectations as a result of the relatively recent advent of the medium that is the Internet. However, as a result of the simplicity with which lockout restrictions may be implemented, customers now prefer purchasing offline, which has led to a decline in the popularity of online shopping.

1.2 Research Objectives of the context of consumer issue

The objective of this research is to learn how internet shopping affects people’s purchasing decisions. The following are some of the study’s objectives:

This study’s objective is to achieve out whether consumers who are too lazy to go out and conduct their shopping need to be concerned, since there is still a new method, and that is to purchase from online businesses.

The study’s other goal is to find out what kinds of experiences clients have while purchasing cosmetics from internet retailers.

1.3 Research objectives for given research problem

  • To analyse the impact of online shopping as well as customer behaviour in cosmetics industry.
  • To find out the problems encountered of consumer in buying cosmetic product online.

1.4 Connected theories

As a marketer, one may spend a large amount of time attempting to understand your customers. Because of this, businesses are better able to meet the demands of the people who make up their target market as a whole. There are various ideas that have been developed throughout time to explain these actions.

Theory of Reasoned Action

According to the theory of reasoned action, which was first created by Martin Fishbein and Icek Ajzen, the interplay between marketing and consumers’ previous opinions impacts how customers make purchase decisions. This theory was developed by Martin Fishbein and Icek Ajzen (Procter et al., 2019). According to the theory of reasoned action, individuals act in a given manner because they believe it will lead to a certain conclusion. This is true regardless of whether or not they are already acquainted with the potential consequence. As a direct result of this, rational decision-making is the key element that influences the behaviour of customers.

This theory of consumer behaviour places an emphasis on the need of being specific as opposed to ambiguous. Consumers can only carry out a certain action if they are confident that it will lead to the accomplishment of a particular objective. This is the only circumstance under which such a possibility exists. The client has the opportunity to change their mind or choose a different course of action during the whole of the time it takes to carry out an activity. The first and most important thing that marketers have learnt is that they need to find a way to connect a purchase to a specific positive consequence (Buabeng-Andoh, 2018). For instance, AXE markets its body spray products in such a way that anybody who uses them might reasonably conclude that they have increased their desirability to women because of their usage of the product. According to this school of thought, customers should be maintained moving through the sales funnel rather than sitting still since they may convince themselves not to make a purchase or may choose to spend their money on a brand that is in direct competition with the company.

Chapter 2: Methodology

2.1 Choice of Methodology

When buying products online, consumers are influenced by a number of different aspects, and my goal is to identify the most significant ones. For the sake of bettering my own knowledge, I began by reading up on consumer behaviour and e-commerce. As part of my research, I looked at studies with comparable goals and analysed their outcomes. Therefore, quantitative method is selected for doing the research (Fryer, Larson-Hall and Stewart, 2018). Exploratory research, this one evolved into an explanatory study since my first goal was to “first obtain information about customer behaviour in order to further learn about online consumer behaviour”. As a result of this information, I’m able to better identify the exact criteria that online shoppers should consider before making a purchase. This data is then utilized to discover the linkages and correlations that exist between the various variables being examined.

2.2 Research Approach

Two typical methods of research are the inductive and deductive techniques. It is possible to construct up a theory using gathered data, whereas it is possible to discover and afterwards test a theory using observed data via the inductive technique. I decided to use a logical method to my research because I wanted to proceed from the general to the specific (Mertler, 2019). It is important to note that quantitative research methods stress objective measurements and statistical, analytical, or numerical analysis of the data acquired via surveys or polls.

2.3 Research Strategy

An all-encompassing primary quantitative analysis will be used in the research project in order to obtain significant and dependable data that is related with the current issue under investigation. In this regard, the study takes a strategic approach by way of an examination of consumer perceptions of the change in behaviour that they have experienced in relation to their online purchasing as a result of the change in the external conditions that have been occurring around them. This change in behaviour is a direct result of the shift that has been taking place in the environment that consumers are in (Gao et al, 2021). By analysing the responses, the participants gave to the study's practical questions, the researchers hope to better understand the factors that led to the shift in attitudes and behaviours shown by the participants. In this regard, the research makes use of a questionnaire with set questions in order to collect responses from the participants. After that, it analyses the answers provided by the participants by providing examples to back up the responses and validating the responses.

2.4 Research Sampling

The research strives to recruit a range of consumers associated with the cosmetic industry; in this prospect a survey is constituted by means of an google forms. In this regard, the research uses random-purposive sampling to evaluate the key responses made by the respondents. Within this prospect, the research formulates the subject-driven questionaries to gather relevant data and illustrates the collected data by means of graphs and charts (Mertler, 2019). This method recruits 20 individual respondents to evaluate their perspective towards online shopping and to parallelly assess the prospects of consumer behavioural change.

2.5 Data collection and Analysis

In the context of this study, a questionnaire in the form of google forms is used to conduct research with the aim of recruiting a diverse group of customers who have an interest in the cosmetics sector. In this sense, the study employs a sample method known as random-purposeful sampling in order to assess the significant replies provided by the respondents. In the context of this possibility, the study develops subject-driven questionaries in order to capture pertinent data and then utilises graphs and charts in order to present the data that was gathered (Fryer, Larson-Hall and Stewart, 2018). This technique calls for the selection of 20 different individuals as respondents in order to evaluate their perspective toward online buying and, concurrently, to evaluate the chances of a change in consumer behaviour.

Chapter 3: Findings

Q1: What is Your Age?

While evaluating the age group of the response for rationalising their behavioural change prospects, it has been identified that among the 20 respondents 55% belong to the 18-25 age range, 25% belong to 30-35 age range, 10% belong to 25-30 age range while the remaining 5% is from 40-45 age group and the other 5% is from 50+ age group.

Q2: Do you prefer online shopping convenient for your daily life?

To analyse the prospect of how convenient online shopping is for the people’s and their daily life, almost 25% replied with bly agree, other 25% only agreed, there are 15% who stayed neutral while other 25% disagreed with the statement. Lastly, the remaining 10% bly disagreed. This constitute the fact that there has been extensive positivity towards the online shopping among the population of younger generation and with the emphasis into its convenient features online shopping became more prevalent for people’s daily life during pandemic period.

Q3: Do prefer to go to your traditional shopping after the pandemic?

To rationalise whether people would like to go back to their traditional brick & mortar shopping after the pandemic, it has been evaluated that 40% of the populace responded with a “No” while the majority which is about 45% implied that they are now preferring traditional shopping experiences after the pandemic. To this regard, it can also be added that the remaining 15% is implying with “Maybe” as they can choose to make the transition or even not.

Q4: What is your reason for leaving or less using Online Shopping?

Considering research prospect of sudden behavioural change among people, their sudden leaving of using online shopping is evaluated by means of this response. In this prospect, 30% of the respondents replied that their reason was Uncertainty and Assurance, while 25% replied with High Price, there were 20% who through it was lack of security, while 15% replied with high delivery cost. Lastly, remaining 10% implied that it is customer service hassles.

Q5: Between online shopping and offline shopping which do you choose in the current circumstances?

Considering the current circumstances, a question is asked to the respondents regarding their preference of shopping platforms. Based on the response it has been rationalised that 45% of people are now choosing traditional Brick & Mortar, while only 20% percent are in line with E-Commerce online platforms. There were also 20% of people who preferred to choose both of them even now while the last remaining 15% implied that they will choose whether gives them better deals.

Conclusion and Recommendations

In conclusion, it be rationalised that with the insurgence of the Covid-19 Pandemic along with several governmental restriction majorities of consumers groups around the world are force to shift away from their shopping p

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