After two great days at the NLS Food Summit, I noticed something unique about the conversation. While many presentations centered on the obvious themes of social media marketing and health and wellness, there was an undercurrent to the conversation that was far more significant. It led me to realize there is a new benefit that winning brands are giving their consumers – a benefit that is transforming the way companies invent, market, and distribute products as well as how they engage their consumers.
Posts Tagged ‘consumer insights’
Consumer Intelligence that Drives Growth
Tuesday, April 27th, 2010A recent study from Boston Consulting Group (BCG) estimated that consumer product companies spend as little as 20% of their market research budgets on strategic initiatives*. Why? Most marketing researchers are still operating on the age-old mission of being an “aid to decision making”. This opens the door to lots of tactical projects, where research answers specific questions rather than informing overall strategy. Many research organizations have moved to a broader role of representing “the voice of the customer.” But is this enough to drive innovation and growth in today’s consumer product companies?
If you ask Jami Guthrie, Vice-President of Global Consumer & Market Intelligence for Wrigley, the answer is (more…)
