Retail, Consumer Goods, Data Science and Consumer Research: Some of Our Clients and How We Can Help
The retail and consumer goods companies are using consumer preference and profile data to gain a customer-centric edge in highly competitive markets. Algorithms, predictive analytics, consumer research and behavioral analysis methods are used to understand customer behavior, identify cross-selling opportunities, measure company performance, and monitor and predict consumer trends.
Companies can increase their marketing ROI by using data science to design personalized offers for customers and run targeted campaigns through the channels that get their attention. The intelligent collection of data on attitudes and lifestyles is critical to identifying market segments, how to target them and the product’s best customers. Consumer goods companies can use data science to know when it’s time to bring a new product to market and ensure that the product meets customer needs. Data science can also help retailers and consumer goods companies evaluate the effectiveness of their market position – their market target and their unique benefit. Advanced data science can test over 1,000 product positions.
Retail and Consumer Goods: Questions Data Science and Consumer Research Can Answer
What is the right position in the market? What benefit can a consumer hold in their mind?
What can data tell us about how to prioritize our product and service features?
Where, when, and why do customers buy products?
What problems do my customers need solved and what are they willing to pay for a solution?
What’s the right message to share with customers and how do we reach them?
How can we use Artificial Intelligence (AI) to increase our market share online?