Consumer Insights Shaping Business
Customer is King is an adage that most companies across the globe have embraced. The need to concentrate on customers and be responsive to their demands has long been acknowledged by organizations. However, with globalisation and technological revolution the dynamics of business, the meaning of customer and market knowledge have all undergone a transformation. Today, the customer is the controlling factor in business and to be market-driven, an organisation has to evolve a culture that constantly listens to the customer, analyses competition and has strategies that meet existing, anticipated and even unanticipated needs of the customer. Going one step further, organizations must focus on customer relationship management which has given way to customer knowledge management. Given the international environment and knowledge economy, market and customer intelligence serves as a core competency and a principal source of competitive advantage. Leading by listening
Practically every success story in today’s corporate realm reflects how awareness of customer needs shapes competitive business strategy. Let’s look at some examples. Procter & Gamble
When P&G, the largest consumer goods company in the world, chose to offer its products to the lower income customer in developing countries, it had research teams associating with the poorest of homes for weeks. This gave the company valuable insights, which aided the company in creating a range of products that suited the pockets of this segment, enabling it to gain substantial market share. Amazon.com
Amazon.com, the first e-retailer of books in the world, attained competitive advantage by emerging as book lovers’ forum where they could also share knowledge. It maintains customer knowledge through services such as book reviews, access to order histories and product recommendations based on preceding orders. Consequently, Amazon has recorded more than 70% repeat orders...
...emotion or feeling about it. Conation, the final component concerns how the consumer will behave with regard to attitude object. People will go and visit Disneyland in Hong Kong and spend time with the family there.
2. Explain how the product manager of a breakfast cereal might change consumer attitudes toward the company’s brand by:
a. changing beliefs about the brand,
b. changing beliefs about competing brands,
c. changing the relative evaluation of attitudes, and
d. adding an attribute.
The product manager might change consumer attitudes towards the company’s brand by different ways. It could be done by emphasizing the attributes the brand .
a) Product manager might change consumer attitude toward the brand by changing beliefs about the brand. It mostly appeals from advertisement, so production manager should try to make customers willing to buy this product by successful ad with a ‘catchy’ affect, having a bit of fear and humour could be helpful. The way in which company can change beliefs about brand is putting less emphasis on product strength in its advertising and more emphasis on others value which cereal has.
b) Product manager can change consumer attitude toward the brand by using a broad statement (for example that only cereal with vitamins and dried fruit or corn are helpful) and or claim. It will allow to set the brand higher than...
...Writing Your Argument Essay
Now that you are familiar with techniques for analyzing an argument, it is time to discuss techniques that will help you write effective critique. Again, you will have 30minutes to complete this portion of the test and, luckily, there are only 5 steps you need to take. As with the Analysis of an Issue section, we will create some formulas to simplify the task. Plugging information into these formulas will help you organize your ideas and prepare you for your critique.
Step 1- Understanding the Argument
Remember that your goal in the Argument section is to analyze the given argument. You cannot effectively analyze the argument until you completely understand it. To understand the argument, first read it and then answer the following question. Keep in mind that you have a short amount of time, so spend more time mulling over the questions than jotting down notes. If you do write notes, make sure they are just short words and phrases that will help you formulate a plan, not long notations that will take time to write and then review.
Identify the conclusion.
What premises does the author to support the conclusion?
What fallacies or flaws do you recognize in the argument?
What assumptions are made in the argument?
What does the argument fail to address?
What necessary evidence is omitted from the argument?
Step 2- Developing Your Thesis
Your thesis statement will set up your entire essay by letting the...
...UNIVERSITY OF ZIMBABWE
DEPARTMENT OF PSYCHOLOGY
ASSIGNMENT TITLE: Scan three adverts from a magazine or newspaper and outline the
advertisement‘s effects on your affect, cognition and behaviour.
24TH MARCH 2014
Advertising plays a pivotal role in the lives of consumers. Advertising moulds the attitudes of
the person as well as of the society and they certainly influence behaviour of the customers.
The customer has to deal with a vast amount of information and make a best choice, conclude
and make vital decision (Jakstiene, Susniene and Narbutas, 2008). Jakstiene et al (2008, p50)
writes, “The main goal of advertising a certain product or service is to attract the customer’s
attention and analyse the impact of advertising on customer behaviour, which is determined
by a multitude of aspects, although the psychological cognitive, emotional and behavioural
ones play the most important role.” The paper below is any analysis of the effects
advertisement has on one’s affects, cognitions and behaviour.
According to Stangor (2004), Humans depend on the three capacities of affect, behavior, and
cognition, which work together to assist them construct productive social relations.
Psychologists defined cognition as the mental activity of processing information and using
...notice of defects will be legally binding
proof that the property is in good condition at the time of occupancy.
18. INVENTORY AND INSPECTION RECORD:
An inventory and inspection Record has been provided for the Tenants’ use.
Only after this has been filled out (within the 3-day time limit) will the Landlord
take any action to complete necessary repairs. Landlord warrants that all major
systems will be functional and in good repair at the time of possession. Light
switches, wall plugs, doors, windows, faucets, drains, locks, toilets, sinks, etc.
will either be in working order or will be repaired once the Tenants have
completed the Inspection and Inventory Record. Tenants are encouraged to
report any necessary repairs, no matter how slight, in writing, but they are
advised that Landlord does not normally repair or replace nonfunctional items
such as paint, carpets, etc., every time a property changes possession. Those
items are scheduled for repair/replacement at regular intervals regardless of
19. BALCONIES AND PORCHES:
If your unit has a balcony, deck, or porch do not allow more than two people on
the structure at one time.
20. TENANT RESPONSIBILITY:
Good housekeeping is expected of everyone. Tenant agrees to keep quarters
clean and in a sanitary condition. The Tenants agree not to permit any
deterioration or destruction to occur while they are occupying the property.
Tenant shall make no...
Professor John Maule from the University of Leeds describes new research into the way that consumers choose a product.
Understanding consumersConsumers are creatures of habit: they buy the same products time and time again, and such is their familiarity with big brands, and the colors and logos that represent them, that they can register a brand they like with barely any conscious thought process. The packaging of consumer products is therefore a crucial vehicle for delivering the brand and the product into our shopping baskets.
Having said this, understanding howconsumers make decisions, and the crucial role of packaging in this process, has been a neglected area of research so far. This is surprising given that organizations invest huge amounts of money in developing packaging that they believe is effective - especially at the retail level. Our Centre for Decision Research at Leeds University's Business School, in collaboration with Faraday Packaging, is now undertaking work in this area. It has already led to some important findings that challenge the ways in which organizations think about consumer choice.
The research has focused on two fundamental types of thinking. On the one hand, there's 'heuristic processing', which involves very shallow thought and is based on very simple rules: 1) buy what you...
In a country with 1.18 billion people and counting it is hard to keep track of all the small things going on without a strong and organized government. Throughout India you can see various issues that may be keeping it from becoming an MDC. Major problems such as language differences, extreme poverty, health problems, migration issues; can all lead to one conclusion; Corruption.
Power tends to corrupt, and absolute power corrupts absolutely. It’s not easy to define corruption. But in a narrow sense, corruption is mostly concerned with bribery and takes several forms. Corruption is a global phenomenon and can be found just about anywhere. Corruption has progressively increased and is now rampant in the Indian society. Corruption in India is a consequence of the link between Bureaucracy, politics and criminals. India is now no longer considered a soft state. And has now become state where anything can be done for a certain price. Today, the number of ministers with an honest image can be counted on fingers. Indian administration is now tainted with scandals. India is among 55 of the 106 countries where corruption is prominent, according to the Corruption Perception Index 2004 Report released by Transparency International India. Corruption in India leads to promotion not prison. It is very difficult to catch these criminals. Corruption in India has wings...
GLOBAL CONSUMERINSIGHTS REPORT
WGSN takes a look at howconsumer behaviour is evolving in four world markets: Brazil, China, India and
Understanding different consumers around the world was a key focus at the 2010 World Retail Congress in Berlin,
where numerous international speakers were on hand to provide insights into their markets.
“First and foremost you have to understand in detail who your customer is. Only then can you leverage a change of
marketplace,” said Ian Scholey, managing director of consultancy company 5One in the UK, when discussing strategy
for embarking on global expansion.
Here we report on some of the consumer thoughts shared from Brazil, China, India and Japan.
WGSN FACT FILE
Brazil's neoconsumer has a global outlook, is multichannel and digitally connected.
China's middle class is focused on the future, driven by ambition and pressured to succeed.
In India a new sense of "price plus" value exists, based not just on price but factors such as quality, fashion and
In Japan three key trends exist: multichannel, convenience and sustainability.
A new consumer has been built by Brazil’s changing market, said Marcos Gouvea de Souza, director general at Brazilian
...of an efficient transport system was the top most priority in the first Five year plan. The state has two airports at Bhintar in Kullu district, and at Jubbarhatti near Shimla. It was only by January 1991 that Himachal was linked up with the broad gauge system by extending the Delhi-Nangal rail line. Although railways and airways in Himachal serve very limited transport needs of the people, the road network of the state makes it unique.
The geography of Himachal presents considerable challenge to the development of transport infrastructure. Nevertheless, the state has made significant progress in road connectivity in the last few decades. Himachal at present has the highest road density among all the hill states of India. Although Himachal also has three airports and two narrow gauge rail tracks, roads remain the main mode of transport in Himachal.
Himachal Road Transport Corporationbus outside of Manali
Eight national highways (NH) pass through the state with a total length of 1235 km. NH 1A touches Shahpur. NH 20passes through Pathankot, Chakki, Nurpur, Palampur and Mandi. NH 21 connects Chandigarh with Manali through Mandi. NH 22 connects Ambala with Kaurik through Kalka, Simla and Wangtoo. NH 70 passes through Mubarakpur, Amb, Nadaun and Hamirpur. NH 21A begins at Pinjore in Haryana, passes through Nalagarh and reaches Swarghat, where it connects with NH 21. NH 88 connects Shimla with Kangra...