Session 2 - Consumer Insight

What is the closest definition of "Consumer Insight"?

• Raw information collected from consumers

• Statistical analysis of market trends.

• In-depth understanding of consumer behaviors and motivations.

• Marketing strategies for product promotion.

TRUE OR FALSE: Is Insight equal to Data?

• TRUE

• FALSE

TRUE OR FALSE: Is Insight equal to Conclusion?

• True

• False

Which concept represents "What People Do"?

• Finding

• Observation

• Data

• Insight

Which concept represents "Why people do what the do"?

• Finding

• Observation

• Data

• Insight

How does a "Finding" differ from "Consumer Insight" (C.I.)?

• Findings=raw observations/Consumer Insights=actionable interpretations.

• Findings=only used in qualitative research/ C.I.=for quantitative research.

• C.I. refer to direct observations, Findings involve statistical analysis.

• • Findings focus on demographics, Consumer Insights focus on psychographics.

What distinguishes "Data" from "Consumer Insight" (C.I)?

• Data includes Consumer Insights exclusively.

• Data=unprocessed information, C.I. involves analyzed and interpreted data.

• Data refers to any information, C.I. specifically relates to sales figures.

• Data=only for advertising purposes, C.I. is used for product development