Consumer Behavior Analysis in the Age of Big Data for Effective Marketing Strategies
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Date
2024-07
Authors
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IPRJB
Abstract
Purpose: The aim of the study was to examine the
consumer behavior analysis in the age of big data for
effective marketing strategies.
Methodology: This study adopted a desk methodology. A
desk study research design is commonly known as
secondary data collection. This is basically collecting data
from existing resources preferably because of its low cost
advantage as compared to a field research. Our current
study looked into already published studies and reports as
the data was easily accessed through online journals and
libraries.
Findings: The study found that consumer behavior
analysis in the age of big data presents a transformative
opportunity for businesses to enhance their marketing
strategies and better understand their target audiences. The
studies discussed demonstrate the effectiveness of
leveraging Big Data analytics in various domains such as
social media sentiment analysis, personalized marketing,
predictive analytics, customer segmentation, locationbased marketing, and real-time personalization. These
strategies enable businesses to tailor their marketing
efforts more precisely, leading to increased consumer
interest, improved engagement, and higher conversion
rates.
Unique Contribution to Theory, Practice and Policy:
Social Identity Theory, Information Processing Theory &
Technology Acceptance Model (TAM) may be used to
anchor future studies on Consumer Behavior Analysis in
the Age of Big Data for Effective Marketing Strategies.
Promote the adoption of advanced data analytics tools and
techniques by businesses to enhance their marketing
strategies. Companies should invest in robust data
infrastructure, analytics platforms, and talent to
effectively collect, analyze, and interpret consumer data.
By leveraging predictive analytics, sentiment analysis,
customer segmentation, and real-time personalization,
businesses can tailor their marketing efforts to individual
consumer preferences and behaviors, leading to improved
engagement, customer satisfaction, and ultimately,
increased sales and profitability. Advocate for the
development of regulatory frameworks that balance
consumer privacy rights with the benefits of data-driven
marketing. Policymakers should collaborate with industry
stakeholders to establish guidelines and standards for
ethical data collection, usage, and storage.
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Citation
Williams, J. (2024). Consumer Behavior Analysis in the Age of Big Data for Effective Marketing Strategies. International Journal of Strategic Marketing Practice, 6(2), 36-46.