How to unlock the numbers in niche indications by using Multi-Criteria Decision Analysis
If you’re in a highly specialized area, such as MedTech or rare diseases, you’ll be only too familiar with the challenges of working with small sample sizes. Qualitative insights are important but when go/no go decisions are at stake, you may need a more data-driven approach. But, how can you obtain robust market data for decision-making when your target population and treating physicians are limited?
What you missed from Quirks Brooklyn ‘BYOB (Build your online brand)’ session
“How many of you have purchased alcohol online? What about groceries?” This is how Lisa Caro, Director of Insights & Analytics for Emerging Opportunities, Constellation Brands, kicked off her remarks to a room full of insights professionals at The Quirk’s Event in Brooklyn. The responses to those two questions reflect the challenges and opportunities that alcohol brands face in eCommerce.
When inflation hits, your pricing strategy inevitably feels the pressure. On the one hand, raising product prices will protect margins. On the other, you can’t risk pricing yourself out of the market. When consumers feel this pressure, their spending habits are likely to change, especially in developing countries and high-inflation regions.
Explore a driver analysis solution for analyzing stated and unstated factors
Tracking studies provide extensive information on brand perceptions over time. They play an important role in understanding what influences consumers and professionals to make decisions. However, as these groups become more empowered and have more choices to consider, your approach to brand trackers needs to evolve as well.
Today’s subscription economy not only presents consumers with more choices, but also more personalized experiences. For telecom, tech and online brands these heightened expectations place even greater pressure on maximizing the revenue per user.
Whereas in the past you could position your products and services based on traditional demographic insights, those rules no longer apply today — especially when it comes to pricing.
Cooking up consumer insights for the creative masterminds
Consumers around the world are eating up the convenience, choice and personalization that online meal-kit delivery services offer. Today subscription boxes offer a variety of options for online shoppers and a host of challenges for brands. To stay ahead in this competitive online space, you must delight your customers with every box that hits their doorstep. But what type of consumer insights are needed to inform the creative masterminds behind what goes in that box every week or month?
We recently set out to help a leading meal-kit delivery company answer just that.Continue reading
Using a subscription pricing model to lay stable foundations
Funda is the top online real estate platform in the Netherlands and one of the largest in Europe. It’s been described as the “Amazon of houses” in its homeland, because it’s said that almost every house that’s sold in the country will have been advertised on its platform first.
The online leader generates revenue by charging realtors to promote residential and commercial inventory on its platform. When there are more homes than buyers, properties are advertised longer and funda sees revenue soar. However, when the market is booming, properties sell quickly, listings come and go on the platform, and revenues dip.
How a new view on the purchase decision spectrum can drive better market research outcomes
I recently got in a taxi cab with a few colleagues and we were so engaged in conversation that we didn’t realize we weren’t moving until the driver asked: “So, where are you headed?” As heavy Uber customers, all of us were in the habit of not specifying a destination verbally since the app conveys all the pertinent details to the driver. We assumed that upon entering the car, the driver should know where to go!
On that taxi ride, we reflected how consumer behavior, and our habits, changed so drastically in a few short years thanks to new technology. Uber disrupted consumers’ traditional routine (hailing a taxi on the street) to form a new habit (grabbing your smartphone to “call” one). What started out as a deliberate new choice to use a rideshare app, quickly turned into an automatic, or habitual, behavior.
This scenario perfectly illustrates our view of the consumer decision behavior spectrum: The Habitual-Deliberate Decision Loop. Disruption of consumer behavior seems to be happening at a faster and
With the increased adoption of voice technology, smart speakers and digital assistants, there’s no denying that Alexa, Siri and Google Home are changing consumer behavior. However, to what extent? Are consumers simply curious about these devices? Are their purchase decisions being guided by AI? Will purchase trials shift to new shopping habits?
As decision behavior experts, we set out to examine these questions by conducting research on consumer attitudes and adoption of voice technology in the U.S., U.K. and Germany (the markets the technology manufacturers have focused on). This infographic previews some of the research highlights.
Key takeaways on voice and digital assistants from ESOMAR Congress 2018
Artificial Intelligence, voice and digital assistants were all the buzz at ESOMAR Congress 2018. The promise is that when these technologies come together in digital personal assistants, they’ll make our lives easier, remove our “choice stress” and will become our trusted advisors. Sign me up! But, how will voice technology affect consumer behavior and how will brands tackle this new decision environment?
Our recent voice trends research included qualitative interviews with digital and eCommerce experts on this very topic. At ESOMAR, some of these respondents participated in our “Brands on Fire – How to adapt to the new market reality of AI platforms” panel. Danone, Wehkamp, Beiersdorf, Ericsson and SKIM had a lively discussion on the digital implications of AI for brands, marketers and insight professionals. I, along with Yasemin Ozdemir, had the honor to moderate the panel. Here’s what you missed and need to know.