Which 3 factors that the social factors are consist of?

family, reference group, role and status

Which 4 factors do that personal factors are consist of?

age, income, occupation, lifestyle

Which 4 factors do that psychological factors are consist of?

motivation, perception, learning, attitude and beliefs

What do customers do in stage 2: Information search under buyer process?

search for information about the product or service

look around to find out what’s out there in terms of choice

work out what might be the best product or service for solving the problem or satisfying any need

What do customers do in stage 1: Need recognition under buyer process?

recognition of the particular problem or need

buyer has a need to satisfy or a problem that needs solving

What can customers do in stage 1: Need recognition under buyer process, be triggered by?

internal stimuli and external stimuli

What can customers do in stage 2: Information Search under buyer process, get their information from?

personal source and commercial source

What do customers do in Stage 3: Evaluation of purchases under buyer process?

evaluation of the available alternatives

buyer decides upon a set of criteria by which to assess each alternative

What do customers do in Stage 4: Purchase decision under buyer process?

make the final choice of what to buy and whom to buy from

What do customers do in Stage 5: Post purchase behaviour under buyer process?

inform other potential buyers who would be keen to hear about the good or bad experience

determines if they are satisfied or dissatisfied with the purchasing outcome

asking themselves whether they made the right decision to purchase the product or service

Define consumer analytics.

process of collecting and analyzing customer data to learn customer behaviour and preferences for making tactical business decisions

metrics with methods that drive meaningful decisions from informational to strategic

State the 5 stages of Consumer analytics

Gather Data, Find insight, Support Decision, Optimise customer experience, Map customer journey

What is done during the Gather Data stage of consumer analytics?

Collating metrics such as purchase records, transactional data, survey, and observational data at all stages of the customer’s journey

What is done during the Find Insight stage of consumer analytics?

From the patterns of the data come insights into causes of customer behaviour

What is done during the Support Decision stage of consumer analytics?

Understanding past behaviour predict future customer behaviour from data instead of relying on intuition

What is done during the Optimize customer experience: stage of consumer analytics?

Detect problems with features, purchases, and the product or service experience

What is done during the Map customer journey: stage of consumer analytics?

From considering, purchasing, and engaging with products and services, mapping touchpoints and pain points helps identify opportunities for improvement

State any 1 consideration in consumer analytics initiative.

Identifying the Metrics, Methods and Tools

What does SMART stands for?

Specific, Measurable, Attainable, Realistic and Timely

Under consideration in consumer analytics initiative, what is done to Identifying the Metrics, Methods and Tools?

Look for metrics that are meaningful to customers

Identify tools needed for data collection

Under sample size, what is the purpose of measuring Margin of error?

smaller the margin of error, the closer you are to having the exact answer at a given confidence level

Under sample size, what is the purpose of measuring Sampling confidence level?

probability that the results from the sample size accurately reflects the behaviors of the population

reveals how confident you can be that the population would select an answer within a certain range

Suggest 1 website to retrieve data sets on Singapore that is good for analysis.

https://www.stb.gov.sg/statistics-and-market-insights

Suggest 1 website to retrieve data sets on ASEAN that is good for analysis.

https://www.iseas.edu.sg/library/resources/free-resources/statistics

Define Quantitative Research

deals with numbers and statistics

State 3 areas which PDPA takes into account.

Consent, Purpose, Reasonableness

Define Data Security.

protecting data from malicious threats

protecting date from internal and external attackers

deals with “how” to protect data

“how” to collect, share and use the data

governing how data is collected, shared and used

a term used to describe an agreement how common data should be defined, represented, and formatted

raw, unorganized facts that need to be processed

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Authored by Sok Lim

Social Studies

University

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State any 1 of the 4 Types of consumer behaviour.

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Describe Complex buying behaviour.

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Describe Dissonance-reducing buying behaviour

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State the 4 factors that influence customer buying behaviour.

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Which 3 factors that the cultural factors are consist of?

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