Customer insight is the ability to predict customer behavior based on insights about psychological determinants of the behavior. Deep customer insight refers to insights about unconscious psychological determinants of behaviors that customers themselves are unaware of.
Every marketing manager acknowledges the importance of customer insights. In fact, most managers assiduously claim that they are always customer oriented. Organizations small and big incorporate customer insights or words to the effect in their vision and mission statements. Yet, there are more instances of customer-insight failures than of successes in the marketplace. More new products fail than succeed. More campaigns end up being ineffective and wasteful than not.
Why is it that even well-trained MBAs and competent marketing managers fail to predict customer behavior correctly? In this video, I discuss the challenges of leading a customer-centric organization with Irene Rosenfeld, chairperson and CEO of Mondelēz International.
Every marketing manager acknowledges the importance of customer insights. In fact, most managers assiduously claim that they are always customer oriented. Organizations small and big incorporate customer insights or words to the effect in their vision and mission statements. Yet, there are more instances of customer-insight failures than of successes in the marketplace. More new products fail than succeed. More campaigns end up being ineffective and wasteful than not.
Why is it that even well-trained MBAs and competent marketing managers fail to predict customer behavior correctly? In this video, I discuss the challenges of leading a customer-centric organization with Irene Rosenfeld, chairperson and CEO of Mondelēz International.