10 Mar CUBE Digest: what’s hot & trendy?
What’s cooking in market- and consumer research? Our LinkedIn-page is sharing some important news with you. A recap of the first two months of the year.
Is neuroscience the end-all and be-all?
These days, increasingly, neuroscience is the go-to discipline to figure out the workings of consumers’ minds and to explain why they buy one product rather than the other. To neuromarketing experts, insights into consumers’ thought processes are crucial to determine their strategy. And this is not just about what consumers think of your products, but also about how they see themselves. Did you know, for instance, that the strength of a person’s sense of self-love is one of the three main behavioural motivators in decision making? Or that there is an explanation for the fact that consumers like to surround themselves with ‘beauty”? CUBE is sharing some of these studies that can help you to acquire such insights.
Consumers going ever more digital
2020 was a crisis year and crises tend to drive drastic change. As was indeed the case with consumer buying habits: they went resolutely digital. It was striking how, at the beginning of the crisis, online sales of FMCG-products shot up, as shown by recent from GfK’s survey of 5.000 Belgian households. Clearly, #2019 consumers are not the same as their #2021 versions. In its trend report, InSites also revealed what further evolutions are to be expected.
How healthy are our businesses?
Putting consumers aside for a moment, we should also focus on the state of our companies. How healthy are they really? A partial answer to this question can be gleaned from an survey of Wallonian businesses by Listen. Participating companies were assessed as to their market position, strategy and internal processes. The result? Businesses in the southern part of the country are not doing too badly. The 60 CEO’s who took part in the survey even identified 3 points on which Wallonian companies could improve: monitoring the market with a view to achieving growth, compensating the lack of agility and finding new solutions to be brought to market.
Case story: Alpro opts for social media analytics
Case stories are never out of place in a digest. Digital – and specifically social – media have become vital to marketing. At Haystack, social media analytics proved a useful and convenient instrument to track Alpro. They created a search query suited for tracking all conversations on social media in which Alpro is mentioned. This provides them with input that enables them to pitch new ideas to consumers on how to get cracking in the kitchen with creative ideas involving Alpro-products.