Write a Powerful Consumer Insight Statement | Thrive Thinking
How connected is your organization to its customers? Follow this detailed guide to conducting customer analysis and segmentation and learn how to target your customers with the right messages. The purpose of undertaking customer analysis as part of a business plan is to examine the consumers most likely to purchase your product or service in-depth. Brands can establish different groups of customers and the needs of those customers. By understanding what motivates them to make a purchase, brands can build their business around providing solutions to those needs. In the age of the consumer, bringing the voice of the customer into the heart of the business can improve customer experience to differentiate your brand. You can learn more about your customers in a variety of ways, and a mix of research methods will give you the most accurate results.
20 Topics on Consumer Behavior for a Critical Thinking Essay
Consumer analysis is the process where information about the consumer is found out from market research like the needs of the consumer, the target market and the relevant demographics so that this information can be used in market segmentation for further steps of market research. It is very useful in predicting consumer behaviour. It also includes the buying process of the consumer i. The former is called demographic analysis and the latter is called behavioural analysis.
Facts, figures and statistics offer an illusion of knowledge; insights translate that raw data into concise and compelling findings surrounding consumer motivations. When data is transformed in this way, it can inspire, offer unexpected understanding, and form the cornerstone of the design and innovation process. So, how do you turn knowledge into insight?