Learn How to Gain Insights and Perspective from Think to Win co-author Peter Klein, PK Associates

1,491 views

Published on

Peter Klein, co-author of Think to Win, and founder of the growth-management consultancy PK Associates, presents Insights--Perspectives. This PPT discusses how to draw strategic conclusions for Consumer Insights.

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,491
On SlideShare
0
From Embeds
0
Number of Embeds
685
Actions
Shares
0
Downloads
4
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Learn How to Gain Insights and Perspective from Think to Win co-author Peter Klein, PK Associates

  1. 1. Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC June 2015 Insights --- Perspective (And Examples) NOTE: See Peter Klein’s voiceover comments on Pages 1-12 under each slide Peter Klein peter@pkassoc.com www.pkassoc.com
  2. 2. 1 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Insights
  3. 3. 2 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC INSIGHT Insights
  4. 4. 3 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Insights
  5. 5. 4 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Are simple yet profound Are obvious in hindsight Tap into an underlying need/desire/belief/values Illuminate WHY people behave Are at the heart of what motivates Create platforms of innovation and growth Insights
  6. 6. 5 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC aha! an profound implications that moment has 5 www.pkassociates.comMaterial cannot be copied and is is not for publication or use without written permission from PK ASSOCIATES LLC : 914-921-4815 Insights
  7. 7. 6 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC an “inductive” process based on new connections differs from “normal” mental processing or “rational” problem solving comes from both relevant and apparently “irrelevant” data relies on guesswork, hunches and intuition involves a flash of inspiration or a restructuring of a problem often challenges current beliefs is both an ART and a SCIENCE 6 www.pkassociates.comMaterial cannot be copied and is is not for publication or use without written permission from PK ASSOCIATES LLC : 914-921-4815 TRANSFORMATIVE... The Insight Process Insights
  8. 8. 7 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Movie: A Beautiful Mind An AHAA! Moment Insights
  9. 9. 8 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Insights An AHAA! Moment
  10. 10. 9 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Uncovered from a holistic understanding of consumers’ needs, preferences and motivations plus other market- driven areas such as customers/retailers, competition, etc. … that are actionable and can be profitably leveraged to build brand value and drive purchase Insights Are Hidden Truths Insights – Definition A statement that explains the significance of facts & findings and increases their understanding… A penetrating, observational statement that captures intuitively “what's behind a finding, fact, data or what is “being said”, and can be acted on… Something meaningful you know that competition doesn't or if they do they aren't doing anything about it
  11. 11. 10 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Consumer ‘As Shopper’ Insights – An Important Related Dimension of Consumer Insights
  12. 12. 11 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Consumer Insights Applied: EXAMPLE… ASTRA (More on This Process Later in Presentation) ALIGN SEARCHACT TRANSFORMRETHINK on the business objective and core consumer question for which you need insights to drive the Category... and share existing and new sources for a 360° view of the consumer an array of data, information, and factoids to creatively generate Insights! the business objective, leveraging the new insights to develop implications and invent new strategies and initiatives, programs Define action steps, implement, and measure impact
  13. 13. 12 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Consumer Insights – Come in All Forms!
  14. 14. 13 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Example: The Single Most Frequently Shared Characteristic of Successful New Products is the Ability to Bring a New Benefit to an Existing Category • Dockers brought branding and style to casual clothing • Domino's brought quick to delivery • Home Depot brought education and customer service to the DIY market • Southwest Airlines brought consistently low price (with a competitively advantaged cost structure) to air travel • AT&T brought “No fee for life” to credit cards • The Home Shopping Network brought the ultimate convenience to shopping • MCI brought price to long distance • Oscar Mayer Lunchables brought fast, fresh, portable combination meals to lunch occasion Consumer Insights – Applied in All Forms Too!
  15. 15. 14 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Example -- Many Other Factors That Are Enablers catalysts for New Product Success • First to capture an emerging trend – Home Depot and Self Reliance – Snapple and desire for BFY alternatives to soft drinks – SnackWell's and Boomer's desire for small indulgences – Dockers and casual business dress, Boomer's need for non-jean comfortable clothing • Broadly extendable business building idea – Not a “product in search of an enduring, sustainable strategy” – Strategic growth opportunity areas: Healthy Choice, SnackWell's, Lunchables • Intersect target consumers where they live, work, and shop – Gatorade: point of sweat Consumer Insights – Applied in All Forms Too!
  16. 16. 15 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Strategic Growth Opportunity Areas (SGOAs) Focus Innovation Efforts on the Highest Potential Consumer Demand and Needs A benefit-oriented view of the category that provides a rich environment for generating specific ideas Grounded in a Consumer Insight Addresses a Current or Emerging Consumer Need/ Problem Broad Enough to Encompass Multiple Solutions to Consumer Problem Key Characteristics SGOA Definition Focused internal and/or external development effort leads to greater creativity… building ‘a business’ Consumer Insights – Applied in All Forms Too!
  17. 17. 16 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Identifying SGOAs Brings Many Benefits • Engages senior management early — Pre-empts many questions, issues upfront — Gets ownership, buy-in by resource allocators: $, people — Makes them part of the business development process… not the problem • Organizational alignment for increased success odds — Gets management and organization strategically-focused • Avoids New Product wind-up toy syndrome! — A tactical idea in search of an enduring strategy! Consumer Insights – Applied in All Forms Too! “If you think you're in a slow/no growth Category you will be!”
  18. 18. 17 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC SGOAs Define Target Rich Environments for Innovation … Under Which Product Platforms and Specific Products Can Be Developed Illustrative SGOA Examples Potential Product Solutions • Polaroid film cameras • Digital camera • Video camera with still pictures option • Cell phone camera • Oral B Brush-ups • Listerine Pocket Paks • Whitening wand • Disposable toothbrush with paste • Freeze-dried instant coffee-bulk package • “Coffee bags” similar to tea bags • “Cup of coffee” similar to Cup ‘O Soup • Pre-measured single cup coffee filters • Coffee on demand/espresso machines • Neighborhood coffee cart, similar to an ice cream truck "Most of the time I'm the only person drinking coffee and I don't want to make a whole pot because it takes too long and it's a waste" "I want to be sure that I really captured the picture I want while I can still fix it. By the time I get the film developed it's too late" "Fresh breath and clean, white teeth are important to my appearance (and my confidence). I wish there was a better way to get that feeling during the day vs. just in the morning after I get done brushing, flossing, etc." Consumer Need/Problem Coffee for One That Tastes Good Photographs That Are Available to View Immediately On-the-Go Oral Care SGOAs
  19. 19. 18 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Consumer Insights – Examples
  20. 20. 19 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Insight & Translation Example: Budweiser (1980's) Heavy male beer drinker • Blue collar, 18-24, high school education • Physical labor Target 3 Key Insights Blue collar male • Low self-esteem • Future outlook bleak Led to the 1980's Positioning (Not Today's) 1. Me/My Life Beer plays an important role in my life. Thirst quencher after long day of hard work. Male bonding with guys like me. Alcohol escape. The popular mid-priced brand work for blue collar guys like me The working man's reward 3. The BUD Brand 2. The Product TAG LINE: You make America work. This Bud's for you! Ads celebrated blue collar workers who value America; ads showed them working hard and positioned Bud as the reward that they deserve
  21. 21. 20 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Insight Generation Consumer Landscape Consumer Needs Brand Equity • How do the different consumer segments vary? • Who are the heavy users and why? • What are the usage dynamics across the consumer segments, particularly for the heavy & super-heavy users? • How do the purchase and preference drivers vary by segment, particularly for the heavy users? • What are the rational and emotive benefits that consumers are looking for? • What are the largest arenas of consumer frustration or under-addressed and latent needs? • What are the emerging consumer trends and how can you best capitalize? • What product substitutes or category adjacencies can you improve upon or build off of? • What are the most leverageable elements of your brand equity? • How do consumers perceive your brand relative to competitive brands? Key Questions • “Target consumers want…” • “Target consumers need…” • “Target consumers believe…” Consumer Insight Worksheets Consumer Insight Example Sources of Inspiration Consumer Insights Worksheet Created By: Date: CPT: SECTION 1: CONSUMER KEY LEARNINGS Consumer Landscape How do different consumer segments vary? Who are the heavy users and why? What are the usage dynamics across the consumer segments, particularly for heavy users? How do the purchase and preference drivers vary by segment, particularly for heavy users Consumer Needs What are the rational and emotive benefits that consumers are looking for? What are the largest arenas of customer frustration Or under-addressed or latent needs? What are the emerging consumer trends and how can we best capitalize? What are the product substitutes or category adjacencies? Brand Equity What are the most leverageable elements of our brand equities? How do consumers perceive our brands relative to competitive brands? SECTION 2: SYNTHESIZED CONSUMER INSIGHTS Answer the following questions: Synthesize the key consumer learnings and/or insights for new product innovation Target consumers want… Target consumers need… Target consumers believe…
  22. 22. 21 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Focus on the Target Customer Often Yields Insight That Drives These Companies’ Strategic Direction • Deep understanding of the target consumer — proprietary insight or an internal revelation — directs action powerfully Insight Response Sears Restructure the company, revitalize the stores, and restock the shelves to suit the female HOH Women make most of the purchasing decisions for the household — including hard goods IBM Do not de-emphasize the mainframe business; on the contrary, nurture it Internal thinking to the contrary, system-intensive companies see the mainframe as critical — it's the enterprise server for the new networked world Nike Market to, at, about, and for the serious athlete— hire serious athletes as employees and select Nike appropriate spokes people, not just great athletes For the serious athlete, sports is a metaphor for life, “linking the cultures of the world” Disney Never dilute the Disney name, and always meet and then exceed expectations Parents want safe places and safe decisions for their families Microsoft Develop products and deals that make computers easy to use and readily accessible What if computing/communications were almost free? The most important travelers perceive air travel as a game in which they lose because they're at the mercy of the airlines —making them feel like winners will reinvent the airline business United Airlines Plan and implement over 130 initiatives across the business, spending over $400 million to improve the flying experience for frequent travelers Source: TCG
  23. 23. 22 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Great Brand Companies View Themselves As The Source of Solutions, Something Meaningful vs. a Product Provider They associate their brand and the market they're in with a high order emotional benefit that transcends product • Disney Not just entertainment… Creativity and magic • IBM Not just systems and service… Solutions • Microsoft Not just computing… Access to a new world of thinking and communications • Nike Not just athletic wear… Aspiration and connection between athletes • Sears Not just a store… Comfort, confidence and value • United Not just transportation… A welcome escape or a productive experience When defining their markets, they avoid marketing myopia — thinking far beyond the tangible Source: TCG
  24. 24. 23 www.pkassociates.com Copyright ©2015 PK Associates LLC. All rights reserved. Material cannot be copied and is is not for publication or use without written permission from PK Associates. PK Associates is a trademark or registered trademark of PK Associates LLC Think to Win by Paul Butler, John Manfredi, and Peter Klein #ThinktoWinBook http://www.thinktowin.net

×