Friday, April 20, 2012

Consumer behaviour: The superior way to grow

  • Industry experts presents a compelling argument for growth that comes when marketing activities are based on rigorous, wide-ranging and purposeful analysis of consumer behaviour
  • Companies grow in different ways. Desirable though they may be, both innovation and acquisition are expensive and risky.
  • More ingenuous marketing actions with existing brands should be the priority.
  • It is obvious to all that growth comes from changing customer behaviour: getting new brand users, getting more from existing users or selling more of the product range to the customer base and so forth. So how can we get behaviour change and hence NILG? (Non Innovation led Growth)
  • Marketing action should be based on understanding the causes of consumer behaviour in a particular market
  • Marketing departments don't seem to place a high enough priority on clear evidence-based problem definitions as a basis for their marketing objectives.
  • Many organisations lack the kind of investigative culture that leads to building causal histories - narratives that connect the marketing objectives to the actions required to achieve them.
  • Kotler and the finance directors are identifying the need for greater market understanding. And it is this greater market understanding that comes from purposeful question-led investigation using all the data a business has that also shows how NILG can be achieved.

No comments: