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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. [1] Consumer insight is the intersection between the interests of the consumer and the features of a brand. Its main purpose is to understand why the consumer cares for the ...
Customer intelligence is a key component of effective customer relationship management (CRM), and when effectively implemented it is a rich source of insight into the behaviour and experience of a company's customer base. As an example, some customers walk into a store and walk out without buying anything.
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Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management. Marketing provides services to satisfy customers.
Methods in the field of customer research that can be applied at this stage are e.g. qualitative and quantitative surveys, behavioral observation and experience, ethnographic research, cultural analysis or value and motivation research. On the basis of these consumer insights, transformations and change dynamics are projected into the future. [4]
Customer knowledge (CK) is the combination of experience, value and insight information which is needed, created and absorbed during the transaction and exchange between the customers and enterprise. [1] Campbell (2003) defines customer knowledge as: "organized and structured information about the customer as a result of systematic processing". [2]
It is a subtype of competitive intelligence (CI), which is data and information gathered by companies that provide continuous insight into market trends such as competitors' and customers' values and preferences. [1]
Shopper insight data collected by shopper marketers includes the consideration of their shopper needs, preferred retail environments and in-store activity. Unilever defines shopper insight as a "focus on the process that takes place between that first thought the consumer has about purchasing an item, all the way through the selection of that ...