From fat-free chips to flavor contests, market research has both failed and supported the well-known potato chip brand, Lay’s, in their product development process. The Wow! “healthy” chip disaster shows that promising market tests don’t always spell success. Crowdsourcing campaigns, while beneficial for increasing customer engagement and boosting short-term revenue streams, can provide inaccurate insight into long-term consumer preferences. This year, Lay’s has released a new product line, Lay’s Layers, but only in two flavors presumably as a large-scale market test for their brand-new chip design.
In June 2017, Facebook plans to open a Center for Marketing Science Innovation – its very own neuroscience research center to learn more about how consumers engage with content.
The BEM approach uses behavioral customer data to define a brand’s target audience more precisely than with demographic data alone.
The best way for a company to truly learn know how its customers feel and avoid misleading data is simply to listen to what they have to say.
Donald Trump’s win in the 2016 election has advertisers wondering if they are out of touch with consumers.
Companies must align the rewards program with its customers. Loyalty programs, to be successful, need to be creative, service-oriented, and all encompassing.
Retailers these days are able to leverage massive amounts of data from Point of Sale systems, ecommerce websites and the analytics they use to track consumers while on those sites as well as customer loyalty […]