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Customer Insight
A customer insight, or consumer insight, is an interpretation of trends in human behaviors which aims to increase the effectiveness of a product or service for the consumer, as well as increase sales for the financial benefit of those provisioning the product or service. There is an overlap between market research and customer insights. While market researchers can produce consumer insights, not all insights require market research techniques. The insights can be acquired using competitive intelligence, big data, machine learning, social media listening, geomarketing, and text analytics, as well as market research, predictive analytics and database marketing. Specifically, consumer insights is a field that focuses on analyzing market research and acting as a bridge between Research and Marketing departments within a company. Commonly referred to as CI, it is the intersection between the interests of the consumer and the features of a brand A brand is a name, term, desig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Research
Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data. It includes social and opinion research, and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research, marketing research, and marketing are a sequence of business activities; sometimes these are handled informally. The field of ''marketing researc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |