Week 3 - Using marketing research to gain consumer insights

Does your company use research to understand it's customer's?  What type of research? 

My company is one of the leading technology and transformation programs for insurance industry in North America.

Since our market segment is business market, our company relies on the market research on technology and trends in insurance industry. Celent, Gartner and Novarica research companies provides a valuable insight into the insurance industry. These research companies provide valuable information that includes reports and briefs on market, operations, and technology trends. These reports are based on consumer and company executive survey data and interviews, the personal experience, and ongoing research.

 

Our company also uses this information to gain insight on the current position of competitors in the market and what differentiated services they are providing. 

 

What Insights does Dr. Rosling gain from the data collection and analysis he conducts in the video.  How important is the visual display of data in creating these insights? 

The presentation from Dr. Rosling was very impressive. The animated bubble chart provided a compact yet simplified view of the economic, and social trends of countries across the world for past 200 years. The detailed segmentation provided great insight on the diversity of economic and social trends within a country.   Human mind react faster, in fact 400,000 times faster, to visual stimuli than to text. The impactful presentation in Dr. Rosling's presentation proves the same with the use of animated visual aids.

 

Where will you go to collect data for your marketing plan? How can you learn about the type of consumers in the market you have been assigned.  How will you convey and provide insights to your client using this information?

For planning my marketing research, I will rely on the secondary research which includes existing information on the web for electric and hybrid car market, target consumer segment with demographic and geographic concentration, existing manufacturers/competitors in North America, anticipated future trends in the electric and hybrid car market and lifestyle of targeted consumer to identify right channel for advertising/positioning our products. Unfortunately all the websites I have visited so far provides paid reports like Pike Research, and Navigant research