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Topic : New Consumer Marketing
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Without finding Consumer insight of a brand the marketing success will be elluding

Created by : Amiya Chaudhuri, Company Partner , ADUNIQUE 76  | 01 18 2011 12:11:07 +0000
Industry : Management & Strategy Consulting
Keywords : consumer insight
Activity:  324 views;  last activity : 08 16 2011 19:05:34 +0000

Marketing strategy today  always comes under the scanner as the market is evolving  with many dimensions and a marketer is always under pressure to  fight with external dynamics as well as setting right the internal variables.The ultimate goal is gain consumer satisfaction and attaining their loyalty. Because the marketer's objective is to ensure growth of market share.  

 
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Every brand owner today is wary about winning consumer confidence. The consumer in this millennium knows too much about the brand he/she is trusting and keeps a keen eye and ear about the happenings.He/she is always driven by the reason of 'what he/she buys' and 'why he/she buys'. So  it's the marketer;s job to find the insight revealing about the 'what' and 'why'.It is undoubtedly is a tough task.Failure to pinpoint the insight  means slipping out  the status of the brand.
By Amiya Chaudhuri, Company Partner , ADUNIQUE 76  01 18 2011 12:11:07 +0000
 
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But with brand demography changing big time it is difficult for brands also to cater in a right way..its a bit tricky situation and its a hard nut to crack at the moment, as consumer purchasing behavior is there with people who are aged more than 35yrs and also people who are 25yrs of age...
By Jayant Vishnu, Art Director/Sr Art Director, Creative  01 19 2011 12:07:40 +0000
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Consumers are the most important aspect in a brands success. Know your consumer and your brand would be on the right track. Not knowing your consumers mean not knowing their needs, desires and insight. Once you dont know these, then your brand wouldnt be on the right track. The communication would go haywire and you would only end up spending money on branding without any results.
By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 01 31 2011 15:45:19 +0000
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Hi Mr. Arikrishnan:

I appreciate your point that consumers may regret their "emotion led impulse to buy a brand". It's a point well made.

Spouses often regret their wedding vows so why indeed should we expect consumers to be loyal!

There does seem to be a misunderstanding, however, in the current debate, on the term "consumer insight".

Traditionally, it is seen as the obvious emotional truth that guides every element of the marketing mix in a brand. At least, that's the way that I understand the term.

Thus the consumer insight that "people change their watches depending on the occasion that they are going to" prompted Titan to become a "fashion brand of watches" and even prompted them to acquire expensive shop fronts on "high streets". HMT on the other hand was based on "Indians feeling proud when they buy Indian goods that are as good as imported". 

One was selling national pride (an emotion). The other was selling "being fashionable" (also an emotion.)

For HMT, they were happy if they sold just one watch per person.

But thanks to Titan's consumer insight. most of us have more than one watch.

Not all of them are Titan. But Titan's market share is now undeniably very large. I hope you can understand why Titan is very happy that they planned their marketing mix based on a perceptive consumer insight?

So you see, personal reactions to whether you buy rationally or emotionally, or whether all products are essentially same, may not hold water.

You'll have to look at the socio-economic truths to respond to Mr. Amiya Chaudhuri's initial observation.

Because most marketers do not seek a strong consumer insight, they remain me-toos within a product category. Those that seek and find consumer insights, and then leverage that insight intelligently, build well respected brands. Because they are based on an astute understanding of the consumer's heart.
By Sumit Roy, Founder Director, www.univbrands.com  | 01 22 2011 22:37:08 +0000
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The naysayers, led by Mr. Natteraja's comment are all making a fundamental mistake. Discovering a consumer insight is not just about asking about consumer preferences, or usage or purchase habits. It is the art of discovering the emotional reason that people would buy that product or service, this making it your own. Yes, most products and services have many alternatives that offer the same rational benefits. But when you attach an emotional benefit to your product or service ...it becomes a brand. True consumer insights help us understand the consumer's heart and allow us to design a product that will become a preferred brand, even without any advertising. For example, the iPOd is really technically a USB "pen drive". Yet we are prepared to pay a premium for it because someone discovered that "people want to be seen as tech savvy" and then designed "jewelry that delivers portable music". Every white earpiece is now a fashion statement. And yes, there are clones of IPods. All of them are now serving as free advertisements to give the iPod brand even more premium. Simply because that brand unearthed an "obvious emotional truth", the real definition of a consumer insight, first.
By Sumit Roy, Founder Director, www.univbrands.com  | 01 22 2011 03:12:12 +0000
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yes , it is necessary to know consumer insight after that only we can know the value of brand for a consumer
By anjani nandan, DR .K.N.MODI .INSTITUTE.OF ENGG AND TECHNOLOGY  | 01 21 2011 09:12:25 +0000
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I support your views.It is the fact of current market stated by you.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 01 20 2011 06:17:16 +0000
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absolutely true.in such a competitive market where for every product there is a good number of brands to buy from, it has become absolutely necessary for a brand marketing head to appeal to the taste of the customer.
By Ankit , Project Executive, Offshore Ally  | 01 18 2011 19:48:45 +0000
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Sir, I agree with your views.
By Sairam. M, System Administrator  | 05 23 2011 17:04:26 +0000
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Dear Mr.Sumit Roy sir, at the out set I have accepted the valid points posted by Mr.Amiya Chaudhuri Ji and then explained my view points to support this side arguments.

However, sir you have indicated the emotional reason to consumer insight. But I would like to have some reservations on the point posted by you sir.

Even the emotional reasons are always subject to change based on other reasons due to the oscillation of the consumers mental pendulum.

For example, a consumer has purchased a product induced by his emotional reason, but after wards he may think why he has purchased that product comparing to that of a similar product that may be a better one giving better product feature than he already purchased due to emotional reason. Moreover, his friends or parents advice or referral to other better products may make him to feel that he has taken a wrong emotional decision in buying that product.

Any purchases backed by any emotional reasons attached will lead to some sort of frustrated or disappointed feeling in future.

However, there is an exception in case of children's purchase decision because of parents love towards their children and the parents don't mind spending for their loved ones.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 22 2011 18:59:58 +0000
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In the cosmetic world, anything and everything sells! We see rush in outlets offering "BUY 2 GET 1 FREE"! ADIDAS converted barefoot Africans to wear shoes! That's consumer insight breaking all resistance, yet achieved the target!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 01 22 2011 05:43:57 +0000
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Natteraja i am in total agreement with you.
By Rathin Deb, Freelance Retail Consultant  | 01 21 2011 07:53:56 +0000
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i agree with Mr Natteraja, that circumstances govern the purchse decision like ,may be his own, his friends, dealers, the marketers, and in case the product involves some technical nature the consumer wants the after sales assurance from the related seller. Therefore, sometimes to gauge the consumer's insight of a brand/product becomes difficult.

Thanks, Mr Natteraja for referral
By Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer  | 01 21 2011 04:00:56 +0000
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What Mr.Amiya Chaudhuri is telling is a valid point. But, however judging the market factors and consumer buying pattern is somewhat difficult to understand. The reason behind is that if we take one brand/product for which there are several identical products with similar features and applications. Hence the question is which brand/product will be opted by the consumers.Therefore every product is facing severe competition from similarity. In view of this the consumer may think of value for his money and other usage & application and also the durability of the products. Under the circumstances the consumer purchase decision has been influenced by several factors, may be his own, his friends, dealers, the marketers, and in case the product involves some technical nature the consumer wants the after sales assurance from the related seller. Therefore, sometimes to gauge the consumer's insight of a brand/product becomes difficult.

Thanks for the referral Mr.Jayant Vishnu Ji.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 20 2011 17:47:12 +0000
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It is rather tricky situation for every brand to sustain in the current scenario since the purchasing behavior has become erratic and difficult to judge.
By Ramesh shirolkar, Academic Incharge,, Edutech Nttf India pvt ltd  | 01 20 2011 14:21:50 +0000
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