This document discusses the objectives of consumer preference studies. It notes that such studies are important tools for businesses to understand consumer behavior, analyze markets, develop new products, tailor marketing strategies, gain competitive advantages, inform pricing and brand positioning, mitigate risks, enhance customer satisfaction, forecast demand, personalize offerings, analyze trends, and help policymakers make informed decisions. The key objectives mentioned are understanding consumer behavior, conducting market analysis, informing new product development, guiding marketing strategy, achieving competitive differentiation, developing pricing strategy, mitigating risks, refining brand positioning, improving customer satisfaction, enabling demand forecasting, allowing personalization, analyzing trends, and aiding policy and regulation impacts.

1. Objectives of consumer preference
studies
By
Premraja N,
FTM 20084.

2. Consumer preference studies
◦ Consumers acceptance and preference study is an
important tool to decide the acceptability of the any
dairy/food products by large group of the people.
◦ To conduct a successful consumer survey one must
know the important factors which may influence
once survey results and conclusions.
◦ These factors are categorized in two groups:
 Consumer related factors
 Product related factors

3. Factors affecting consumer
preferences
a) Consumer related factors:
1. Availability.
2. Utility.
3. Convenience.
4. Price.
5. Uniformity and dependability.
6. Stability, storage requirements.
7. Safety and nutritional value.
8. Sensory properties
a) Appearance
b) Aroma and taste
c) Texture, consistency
d) Temperature.

4. Products Related
factors are as
follows..
1) Regional preferences
2) Nationality,
3) Age and Sex
4) Religion
5) Education
6) Socio-economics
7) Psychological motivation
a) Symbolism of food
b) Advertising
8) Physiological motivation
a) Thrust
b) Hunger
c) Deficiencies
d) Pathological conditions

5. Other Factors
◦ Interest, motivation, discrimination, intelligence, and many
other attributes of consumers undoubtedly influence
responses to food.
◦ Individual variation in sensory acuity influences responses
at consumer level as well as in the laboratory. The inter
relationship of physiological nutritional and psychological
factors must be taken into account for conducting
extensive surveys of factory and taste abilities of the
potential consumers.

6. Objectives of consumer preferences
studies are:
1. Understanding Consumer Behaviour:
 Consumer preference studies aim to uncover the
underlying reasons and motivations behind
consumer choices. This involves identifying the
factors that influence purchasing decisions, such as
price sensitivity, quality expectations, brand loyalty,
and cultural influences.
 By comprehensively understanding consumer
behaviour, businesses can tailor their products and
marketing strategies to better meet the needs and
desires of their target audience.

7. 2. Market Analysis:
 Through consumer preference studies,
businesses gain insights into market
trends and the demand for specific
products. This analysis involves identifying
changing consumer preferences,
emerging product categories, and market
segments with unmet needs.
 With a better understanding of market
dynamics, businesses can capitalize on
opportunities for growth, innovation, and
market expansion.

8. 3.New Product Development:
Consumer preference studies play a pivotal role in
informing product development efforts by
identifying the features, attributes, and
functionalities that are most valued by consumers.
By incorporating consumer preferences into
product design and innovation processes,
businesses can develop offerings that align more
closely with the desires of their target market,
leading to increased adoption and satisfaction.

9. 4.Marketing Strategy:
Understanding consumer preferences
allows businesses to tailor their marketing
strategies to effectively communicate the
value of their products to consumers.
This involves aligning messaging, branding,
and promotional efforts with consumer
preferences, resulting in more resonant and
impactful marketing campaigns.

10. 5.Competitive Advantage:
Consumer preference studies provide
businesses with insights into the unique
preferences and needs of their target
audience, enabling them to differentiate
their products and services from
competitors.
By leveraging this understanding,
businesses can develop unique selling
propositions and competitive advantages
that resonate with consumers, fostering
brand differentiation and loyalty.

11. 6.Pricing Strategy:
Insights from consumer preference studies
inform businesses about the pricing
thresholds and value perceptions of
consumers. This allows for the development
of pricing strategies that are in line with
consumer expectations and willingness to
pay.
Businesses can optimize pricing to
maximize value perception while remaining
competitive in the marketplace, ultimately
leading to enhanced profitability and market
share.

12. 7.Risk Mitigation:
By understanding consumer preferences,
businesses can mitigate the risk of
launching products or services that may
not align with market demand.
This involves assessing the market fit of
new offerings, identifying potential
challenges, and making informed
decisions to minimize the risk of product
failure or market rejection.

13. 8.Brand Positioning:
Consumer preference studies help
businesses define and refine their brand
positioning by aligning their brand image
with the preferences and values of their
target audience.
By crafting brand messaging and
positioning that resonate with consumer
preferences, businesses can establish
strong connections with their audience,
leading to enhanced brand loyalty and
advocacy.

14. 9.Consumer Satisfaction:
By identifying and responding to
consumer preferences, businesses can
enhance consumer satisfaction levels,
driving higher levels of loyalty and
positive word-of-mouth marketing.
Meeting consumer preferences fosters
positive experiences, leading to increased
customer retention, higher lifetime value,
and a more loyal customer base

15. 10.Forecasting Demand:
Consumer preference studies aid in
forecasting demand by providing insights
into shifting consumer behaviors,
preferences, and purchase intentions.
Businesses can anticipate market needs
and optimize their production, inventory,
and supply chain operations to meet
expected demand levels effectively.

16. 11.Personalization:
These studies enable businesses to
personalize their offerings and
experiences for individual consumers
based on their preferences, behaviors,
and past interactions.
Personalization fosters deeper customer
engagement, heightens brand loyalty, and
increases customer satisfaction through
tailored experiences and communication.

17. 12.Trend Analysis:
Analyzing consumer preferences over
time provides valuable insights into
evolving trends and changes in consumer
behavior, enabling businesses to adapt
proactively.
By monitoring and responding to shifting
preferences and trends, businesses can
stay ahead of the curve, capitalize on
emerging opportunities, and mitigate the
risks associated with changing consumer
dynamics.

18. 13.Policy and Regulation Impacts:
Understanding consumer preferences
can help policymakers and regulatory
authorities make informed decisions that
align with consumer needs and desires.
By incorporating consumer insights into
policymaking, regulators can create
environments that support consumer
welfare, address market inefficiencies,
and promote fair and transparent market
practices.

19. THANK YOU…