Customer Insights Concept for Creating a Marketing Mix _ The Process
Between 50% and 75% of all new products fail in the first two years after market entry. That is often due to a lack of customer knowledge. Many companies, start-ups, individuals or research institutions focus on the technical elaboration and development of new products or technical inventions in the beginning, without taking the needs of the user and the associated marketability into account.
The aim of this project was to implement a customer insights concept developed by OBERWELZdesign that provides the processes and methods that enable companies to identify concrete measures for a marketing mix prior to the first market launch of a product. The theoretical approach consists of integrating the constructs of buyer behavior, the methods of qualitative research and the 4 Ps (Product, Price, Place, Promotion) into the process of insight-finding. The concept was divided into three phases, which ideally follow each other linearly, but can also contain small and large iterations. It consists of the information gathering phase, the hypothesis phase (define, test, refine) and the elaboration phase.
This concept was used to create a user-centric marketing mix for a new product (adjustable wrench). In addition to the secondary research (market, competitors) and first explorative interviews to identify the target group, netnographic research and qualitative interviews were conducted. The potential customers were interviewed and observed in order to gain insights into their use cases and purchasing behavior to transfer their preferences in the preparation phase to the 4 Ps.
The CI concept provided extensive information about the target group and was able to help generating ideas for successful marketing activities. Particularly noteworthy was the fact that the concept could be mastered with a manageable amount of personnel, work and time and that it delivered very good results in all four areas of the marketing mix.
Insights _ Get to know the user!
In order to gain a better understanding of the target group and enough knowledge of the consumer for later hypotheses, two methods from the CI concept were used. The netnography and the in-depth or guideline interview. The aim of the study was to identify psychological and social determinants, the extent of the purchasing decision process, the roles and types of the purchasing decision and the awareness or consideration set. A multi-tool is only as good as the owner's ability and willingness to wear it. A tool with 127 tools is great, but if these 127 tools are not used, they are useless. The first step in choosing the perfect multi-tool is to find out how it best fits into the user's life.
The insights gained have been translated into a combined customer profile, which is a cross-section of what has been learned so far. From the individual needs, motives and values, concrete needs could be formulated and first ideas and prototypes developed, which were later used to test the hypotheses. A mix of methods (the focus-interview, observations and prototype tests) was used to test the hypotheses.
Elaboration _ Bring it to life!
When meeting customer needs, significant findings about functions, features, distribution and pricing, but also symbolic information related to design, brand impact and marketing communication could be applied in order to do justice to the entire emotional, attitudinal and value structure of the target group.
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