1/13/2020 0 Comments
Consumer Behavior Analysis - Case Study Example Management needs to make on-going decisions relative to what changes need to make in response to consumer behavior in the context of the products that they offer. These decisions need to be made on the basis of an understanding of consumer behavior. This understanding will inform of the appropriate action for improving sales or withdraw the product altogether, depending on what firmsâ€™ know about or learn about consumer behavior, perceptions, attitudes, and desires. If management decides to respond by improving or changing the brand or product, once changes have been made, management will have to track consumer reaction and perceptions of the changes. Radian 6 offers a range of tools for integrating online social networking in a single place so that consumer behavior, attitudes, and perceptions, as well as preferences, can be accessed at one location. In other words, Radian 6 facilitates a method by which conversations among consumers can be analyzed. Management may also communicate directly with consumers. Radian 6 (2011) explains that it a â€œplatformâ€ for listening, discovering, measuring and engaging â€œin conversations across the social webâ€. Radian 6 taps into consumer behavior which is a generalization of marketing theory. Consumer behavior as a general marketing theory places the consumer â€œat the center of the marketing conceptâ€ (Baker and Saren 2010, p. 42). Essentially, consumer behavior by itself provides an array of theories that can unlock the door to understanding consumer behavior. Consumer behavior-social networking applications such as Radian6 is more useful for monitoring how products and brands are being received by consumers.Â It also permits immediate feedback for consumer behavior relative to products and brands.Â Therefore while traditional research methodologies provide an overall picture of external and internal factors that operate in the market to influence consumers, social networking or social media research provides researchers with an up-to-the-minute monitoring process as a general theory combines core concepts such as cultural theory, economic, political, consumer information, services and cognitive psychology-based theories (Baker and Saren 2010, p. 42).
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