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Mastering consumer insights - how to unleash the full potential of your business
 

Mastering consumer insights - how to unleash the full potential of your business

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  • It is not revealed by just interviewing people: often people are not able to tell itIt is “stolen” to consumers through observation, analysis and interpretation of what they say and dodeep understanding of target consumers' attitudes and beliefs, which connect at anemotional level with your consumer,Actionable, in that it will make decisions about brand and communication easy
  • Jack Welch, the former CEO of GE, suggested there were only two sources of competitive advantage for businesses. Given his track record at GE - taking its value from $14bn to more than 300bn when he left in 2001 – he knows a thing or two about competitive advantage. Competitive Advantage #1“Learn more about your customers faster than the competition.”Competitive Advantage #2“Turn what you learn about customers into action faster than the competition.”
  • The process to find an insight requires 4 mind-steps:Understand the facts and data: the foundation is to dive into the data and digest them deeplyPut a distance from data to free your thinking and believe in your intuition to let the unconscious speakReflect and feed quiet, inward thinking to have a new vision in a broader context where new associative pathways ariseDo out of the box thinking to reach an eureka and then share it with third party for a fresh point of viewUnderstand the facts and data as well as connect with the consumers (do what they do, eat what they eat, watch their favorite TV programs..)Sometimes the insight can be identified with a reverse-thinking approach i.e., starting from the improvement that the brand or the product brings to everyday consumer life

Mastering consumer insights - how to unleash the full potential of your business Mastering consumer insights - how to unleash the full potential of your business Presentation Transcript

  • Mastering Consumer Insights HOW TO UNLEASH THE FULL POTENTIAL OF YOUR BUSINESS
  • Agenda What is an Insight? Why Insights are so important? Where Insights
  • 1 What is AN INSIGHT?
  • an hidden truth That opens TARGET consumer‟s door
  • Exciting and mind-opening. It sounds easy once you discover it
  • Creates new relevant growth opportunities and it’s ACtionable
  • 2 Why Insights are so important?
  • “Life isn‟t about what you buy, but about the relationship you have with the people you care about, and the special moments you can share with them by buying things”
  • “Life isn‟t about what you buy, but about the relationship you have with the people you care about, and the special moments you can share with them by buying things”
  • If you have a body you are an athlete
  • 3 Where Insights COME from?
  • Analyze FACTS AND DATA Connect with consumers Absorb knowledge
  • Consumer centricity is the way PROCESSES ORGANIZATION PEOPLE CULTURE
  • What is an Insight? Why Insights are so important? Where Insights
  • Further Examples and Informa Insights – Examples Sometime I need a third place between home and office to have moment of pause If you have a body, you are an athlete While pre-teen adolescents teens say they want to be trendy, they actually are the antithesis – they want fashion that is „lasting‟ so they will fit 18 in Insights – FURTHER INFORMATIO It ain't what you do, it's how you think by Wendy Gordon and Nitasha Kapoor, ESOMAR 2007 Why is good insight like a refrigerator? by Jeremy Bullmore, Market Leader, Summer 2005 The insight story by Suresh Ramalingam & Aruni Ghosh, ESOMAR 2009 Co-creating with consumers: a new way of innovating by Ana Medeiros and Andrew http://www.brandlearning.com/UploadedDocuments/Are Needham, Market Leader, Spring 2009 %20You%20Wired%20For%20Insight.pdf http://www.motivaction.nl/documents/ESOMAR_A_de ep_dive_into_the_mind.pdf http://www.visioncritical.com/system/files/WHITEPAP ER_Disruptive_Trends_Ray_Poynter_Final.pdf