Asking chatgpt to produce a proposal on consumer buying behavior of the middle-class: a note for MBA students

Asking chatgpt (accessed via poe.com) to produce a proposal on consumer buying behavior of the middle-class: a note for MBA students

My question 1: "I am a part-time MBA student, currently working on the formulation of my dissertation proposal. I notice that there have been much discussion in the public domain about middle class getting poorer. As such, I choose a dissertation topic of "how the deteriorating financial health of the middle class affect their consumer behaviour to purchase premium brand products in Hong Kong". First of all, could you tell me the main underlying ideas of (1) middle class, (2) premium brand products" and (3) consumer behaviour as an academic subject? Tks."

The reply from chatgpt: "Certainly! Here’s an overview of the underlying ideas for each of your dissertation topics:

1. Middle Class

The middle class is often defined socio-economically and can vary by region and context. Key ideas include:

Economic Status: Typically characterized by moderate income levels, job stability, and access to education. The middle class is often seen as a stabilizing force in the economy.

Social Mobility: The middle class is associated with opportunities for upward mobility, often linked to education and employment.

Cultural Identity: The middle class often has distinct cultural values and consumption patterns, influenced by their economic status and aspirations.

Current Trends: In many regions, including Hong Kong, discussions around the middle class often focus on issues such as income stagnation, rising living costs, and wealth inequality, which can impact their financial health.

2. Premium Brand Products

Premium brand products refer to goods that are marketed as high-quality and typically come with a higher price tag. Key concepts include:

Brand Equity: Premium brands often have strong brand recognition and loyalty, attributed to perceived quality, prestige, and exclusivity.

Consumer Perception: The value of premium products is often tied to consumer perceptions of quality, status, and social identity.

Market Segmentation: Premium brands target specific consumer segments, often leveraging lifestyle marketing to appeal to aspirations of wealth and success.

Economic Sensitivity: The demand for premium products can be sensitive to economic changes, as consumers reassess their spending in response to financial pressures.

3. Consumer Behaviour

Consumer behaviour is the study of how individuals make decisions to spend their resources (time, money, effort) on consumption-related items. Important aspects include:

Decision-Making Process: This involves understanding how consumers recognize needs, search for information, evaluate alternatives, and make purchase decisions.

Influencing Factors: Various factors influence consumer behaviour, including psychological (motivation, perception), social (family, peers), cultural (values, beliefs), and economic (income, employment).

Trends and Changes: Economic conditions, such as recessions or rising costs of living, can significantly alter consumer behaviour, leading to shifts in brand loyalty, spending patterns, and purchasing priorities.

Research Methods: Studying consumer behaviour often involves qualitative and quantitative research methods, including surveys, interviews, and observational studies to gain insights into consumer preferences.

Conclusion

Your dissertation topic combines these concepts, exploring how the financial challenges faced by the middle class in Hong Kong might influence their purchasing decisions regarding premium brands. This intersection can provide valuable insights into both consumer behaviour and the socio-economic landscape of the region."

My question 2: "Tks for clarification. With a research theme of "how the financial challenges faced by the middle class in Hong Kong might influence their purchasing decisions regarding premium brands", I intend to conduct (1) narrative interview with four of my middle-class friends, (2) a focus group with 3 of my middle-class friends and 2 managers working in companies that sell premium brand products, and (3) a desk research to gain more contextual information on my research theme. I will employ concepts about (1) social class in sociology, (2) consumer purchasing decisions in consumer behavior", and intersectionality. My overall research philosophy is pragmatism. Could you produce a dissertation proposal to me? Tks."

The reply from chatgpt: "Sure! Below is a structured dissertation proposal based on your research theme, methodology, and philosophical approach.

Dissertation Proposal

Title

The Impact of Financial Challenges on Middle-Class Consumers' Purchasing Decisions Regarding Premium Brands in Hong Kong

Introduction

In recent years, there has been significant discourse surrounding the financial health of the middle class in Hong Kong, particularly in the context of rising living costs and economic uncertainty. This research aims to explore how these financial challenges affect the purchasing decisions of middle-class consumers regarding premium brand products. By understanding this relationship, we can gain insight into broader socio-economic trends and consumer behavior in a rapidly changing market.

Research Aim and Objectives

Aim:

To investigate how financial challenges faced by the middle class in Hong Kong influence their purchasing decisions related to premium brand products.

Objectives:

To explore the financial challenges encountered by the middle class in Hong Kong.

To examine how these challenges impact consumer perceptions of premium brands.

To identify changes in purchasing behavior among middle-class consumers regarding premium products.

To gather insights from industry professionals on market trends related to middle-class consumers.

Literature Review

Key Concepts

Social Class: This section will review sociological theories related to social class, focusing on the characteristics and dynamics of the middle class in Hong Kong.

Consumer Purchasing Decisions: This will involve examining models of consumer behavior, particularly how socio-economic factors influence buying decisions, with a focus on premium brands.

Intersectionality: The review will address how various social identities (e.g., income, education, cultural background) intersect to influence consumer behavior and economic challenges.

Contextual Framework

This section will provide an overview of the current economic environment in Hong Kong, including statistics on income distribution, cost of living, and consumer spending patterns.

Methodology

Research Philosophy

The research will be guided by a pragmatic philosophy, enabling a flexible approach to understanding the complex realities of consumer behavior and social class.

Research Design

Narrative Interviews: Conducting in-depth interviews with four middle-class friends will provide personal insights into their financial challenges and purchasing decisions. These interviews will be semi-structured to allow for open-ended responses and rich narratives.

Focus Group: A focus group consisting of three middle-class friends and two managers from companies selling premium brands will facilitate a discussion on perceptions of premium brands and how financial constraints shape purchasing decisions. This will allow for collaborative insights and diverse perspectives.

Desk Research: Comprehensive desk research will be conducted to gather existing data and studies related to middle-class financial health, consumer behavior, and premium brands in Hong Kong.

Data Analysis

Qualitative data from interviews and focus groups will be analyzed thematically to identify recurring patterns and insights. Desk research will supplement these findings with quantitative data where applicable.

Expected Contributions

This research aims to contribute to the understanding of consumer behavior within the context of economic challenges faced by the middle class in Hong Kong. It will provide valuable insights for marketers and policymakers regarding the shifting dynamics of consumer preferences and purchasing power.

Timeline

Literature Review: Month 1-2

Data Collection: Month 3-4

Data Analysis: Month 5

Drafting Dissertation: Month 6

Final Review and Submission: Month 7

References

A preliminary list of academic sources related to social class, consumer behavior, and economic studies in Hong Kong will be compiled and reviewed throughout the research process.

Feel free to adjust any sections or details to better fit your specific needs or preferences!"

My question 3: "Tks. Could you provide me with a more concrete research method design for the three research methods chosen by me, namely, narrative interview, focus group and desk research? Tks."

The reply from chatgpt: "Certainly! Here’s a concrete research method design for each of the three methods you plan to use: narrative interviews, focus groups, and desk research.

Research Method Design

1. Narrative Interviews

Objective: To gather personal stories and insights from middle-class individuals regarding their financial challenges and purchasing decisions related to premium brands.

Participants: Four middle-class friends, ensuring diversity in demographics (age, gender, occupation).

Procedure:

Preparation:

Develop an interview guide with open-ended questions focusing on:

Participants' perceptions of their financial situation.

Experiences with premium brand products.

Changes in purchasing behavior due to financial challenges.

Conducting Interviews:

Schedule one-on-one interviews (30-60 minutes each) in a comfortable setting (e.g., coffee shop, home).

Use a semi-structured format to allow for flexibility and depth in responses.

Record interviews (with consent) for accurate transcription and analysis.

Data Analysis:

Transcribe interviews verbatim.

Use thematic analysis to identify key themes and patterns related to financial challenges and consumer behavior.

Highlight quotes to illustrate participants' experiences.

2. Focus Group

Objective: To facilitate discussion among middle-class individuals and managers about the impact of financial challenges on purchasing decisions for premium brands.

Participants: Five participants (3 middle-class friends and 2 managers from companies selling premium brands).

Procedure:

Preparation:

Develop a discussion guide with key topics to explore, such as:

Views on premium brands and their perceived value.

Financial challenges faced and their impact on buying decisions.

Insights from managers on consumer behavior trends.

Conducting the Focus Group:

Arrange a 60-90 minute session in a neutral location (e.g., meeting room).

Use a facilitator (you) to guide the discussion, encouraging interaction and engagement among participants.

Record the session (with consent) to capture all discussions.

Data Analysis:

Transcribe the focus group discussion.

Use thematic analysis to identify common themes and differing viewpoints.

Compare insights from the middle-class participants with those from the managers to explore the intersection of consumer behavior and business perspectives.

3. Desk Research

Objective: To gather existing literature and data on the financial health of the middle class in Hong Kong and consumer behavior regarding premium brands.

Procedure:

Data Sources:

Academic journals, books, and articles on social class, consumer behavior, and economic conditions in Hong Kong.

Reports from government agencies, NGOs, and market research firms related to the middle class and retail trends.

Online databases (e.g., JSTOR, Google Scholar) for peer-reviewed articles and industry reports.

Data Collection:

Conduct a thorough literature review to compile relevant studies and statistics.

Summarize findings to provide context for the primary research.

Data Analysis:

Synthesize the findings from the literature to highlight trends and key issues affecting the middle class in Hong Kong.

Relate the desk research findings to insights gained from interviews and focus groups, providing a comprehensive understanding of the research theme.

Conclusion

This research design integrates qualitative methods to gather rich, nuanced data from personal narratives and group discussions, complemented by existing literature to provide a solid contextual foundation. This multifaceted approach aligns with your pragmatist philosophy, allowing for a comprehensive exploration of how financial challenges impact the consumer behavior of the middle class in Hong Kong regarding premium brands."

My question 4: "Tks. Could you tell me what are the strengths and weaknesses of the research methods and research philosophy in this case and then also tell me what are the practical and academic value of this study?"

The reply from chatgpt: "Certainly! Here’s an analysis of the strengths and weaknesses of your chosen research methods and philosophy, as well as the practical and academic value of your study.

Strengths and Weaknesses of Research Methods

1. Narrative Interviews

Strengths:

Depth of Insight: Provides rich, detailed personal accounts that reveal individual experiences and emotions.

Flexibility: Allows for exploration of unexpected themes that may arise during the conversation.

Personal Connection: Builds rapport, which can lead to more honest and open responses.

Weaknesses:

Small Sample Size: Limited generalizability due to a small number of participants.

Subjectivity: Data may be influenced by the interviewer’s biases or the participants’ willingness to share.

Time-Consuming: Both conducting and analyzing narrative interviews can require significant time and effort.

2. Focus Group

Strengths:

Interactive Discussion: Encourages dynamic interaction among participants, leading to diverse perspectives and insights.

Real-Time Feedback: Allows for immediate clarification and deeper exploration of ideas as they arise in conversation.

Comparison of Views: Facilitates discussion between consumers and managers, highlighting differences in perceptions.

Weaknesses:

Group Dynamics: Dominant personalities may overshadow quieter participants, affecting the quality of data.

Logistical Challenges: Coordinating schedules and ensuring participation can be difficult.

Limited Depth: While it provides breadth of insight, it may lack the depth that individual interviews offer.

3. Desk Research

Strengths:

Comprehensive Context: Provides a broad understanding of existing knowledge, trends, and statistics.

Cost-Effective: Typically requires fewer resources compared to primary data collection.

Foundation for Analysis: Helps contextualize primary research findings within existing literature.

Weaknesses:

Relevance: The information may be outdated or not directly applicable to your specific research context.

Quality Variation: The reliability of sources can vary, and it may be challenging to sift through large amounts of data.

Lack of Personal Insight: Does not capture individual experiences or subjective perceptions.

Strengths and Weaknesses of Research Philosophy

Pragmatism

Strengths:

Practical Orientation: Focuses on real-world applications and the practical implications of research findings.

Flexibility: Allows for the use of multiple methods (qualitative and quantitative) to address research questions.

Problem-Solving Approach: Emphasizes finding solutions to practical issues, making the research relevant to stakeholders.

Weaknesses:

Potential for Ambiguity: The flexible nature of pragmatism can lead to unclear research boundaries or objectives.

Mixed Method Challenges: Combining qualitative and quantitative approaches can complicate analysis and interpretation.

Subjectivity Risk: Pragmatism can sometimes prioritize practical outcomes over theoretical rigor.

Practical and Academic Value of the Study

Practical Value

Consumer Insights: Provides valuable insights for businesses selling premium brands, helping them understand the evolving needs and preferences of middle-class consumers in Hong Kong.

Marketing Strategies: Offers guidance for crafting marketing strategies that resonate with financially challenged consumers, potentially improving sales and customer loyalty.

Policy Implications: Can inform policymakers about the financial pressures facing the middle class, leading to more targeted economic support initiatives.

Academic Value

Contribution to Literature: Adds to the existing body of knowledge on consumer behavior, social class dynamics, and economic challenges, particularly in the context of Hong Kong.

Theoretical Development: Explores intersectionality within consumer behavior, enhancing understanding of how multiple factors (economic, social, cultural) influence purchasing decisions.

Foundation for Future Research: Provides a basis for further studies investigating the relationship between socio-economic factors and consumer behavior in different regions or contexts.

Conclusion

Your study holds significant value across both practical and academic domains, addressing pressing issues faced by the middle class while contributing to theoretical discussions in consumer behavior and sociology. The chosen methods and pragmatist philosophy will support a comprehensive exploration of your research theme, allowing for meaningful insights and implications."

** note: This example is on the academic-oriented type of dissertation project.

Reference: a collection of blog notes on using chatgpt for research purpose.