Insight and its importance in the transactional marketing era
Truong, Phuong (2019)
Centria-ammattikorkeakoulu
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201902172414
https://urn.fi/URN:NBN:fi:amk-201902172414
Tiivistelmä
Consumer insight is regarded as a spirit of any marketing campaign. This concept evolves from time to time; however, it remains its characteristics and importance despite a stunning transformation to digitalization. Practically, insight turns product-centric into customer-focused business model which in return consolidates brand’s values as well as strengthens the company’s position in the marketplace.
This thesis aimed at providing a handbook for marketers who were interested in “insight” concept due to the scarcity of related materials. Indeed, the author endeavored to keep up with the latest trends and simultaneously analyzed opportunities and benefits that digitalization brought about. Specifically, case studies were provided alongside with the research to examine against the hypothesis about the essence of the concept. A rigorous analysis of these provided a precious lessons and models for businesses to employ. Specifically, the research also considered the relationship between insight and some major marketing strategies namely brand marketing and trade marketing.
The inductive approach was applied in the thesis together with other two research methods: qualitative and content analysis ones. Some consumer behavior reports from truthful market researchers such as KPMG, Nielsen, PwC were taken into careful consideration. The analysis resulted in some hypotheses about new consumer traits, their preferences and how the company could cater sufficiently to their changing needs. Interview was also conducted to reveal practical perspectives on the idea. A case study of IKEA – a leader in the furniture industry – partly showed how consumer insight enabled the company to invade a new territory and eventually achieved its American dream.
The empirical part illustrated the cruciality of insight under the marketing spectrum. Apart from that, it proved that consumer insight should be integrated as a throughout process from branding activity to delivery of the product and to the final consumers. Despite new platforms/tools born from digitalization, a consistent experience from online to offline and in reverse should be emphasized. Omni-channel strategy and phygital concept emerged from the context and provided the company with a strong foundation to survive under such competitive business climate.
This thesis aimed at providing a handbook for marketers who were interested in “insight” concept due to the scarcity of related materials. Indeed, the author endeavored to keep up with the latest trends and simultaneously analyzed opportunities and benefits that digitalization brought about. Specifically, case studies were provided alongside with the research to examine against the hypothesis about the essence of the concept. A rigorous analysis of these provided a precious lessons and models for businesses to employ. Specifically, the research also considered the relationship between insight and some major marketing strategies namely brand marketing and trade marketing.
The inductive approach was applied in the thesis together with other two research methods: qualitative and content analysis ones. Some consumer behavior reports from truthful market researchers such as KPMG, Nielsen, PwC were taken into careful consideration. The analysis resulted in some hypotheses about new consumer traits, their preferences and how the company could cater sufficiently to their changing needs. Interview was also conducted to reveal practical perspectives on the idea. A case study of IKEA – a leader in the furniture industry – partly showed how consumer insight enabled the company to invade a new territory and eventually achieved its American dream.
The empirical part illustrated the cruciality of insight under the marketing spectrum. Apart from that, it proved that consumer insight should be integrated as a throughout process from branding activity to delivery of the product and to the final consumers. Despite new platforms/tools born from digitalization, a consistent experience from online to offline and in reverse should be emphasized. Omni-channel strategy and phygital concept emerged from the context and provided the company with a strong foundation to survive under such competitive business climate.