Consumer Insight

Consumer insight is perceived meanings of data collected from the study of consumer behavior.
Insight is defined as the act or result of apprehending the inner nature of things, or of seeing
intuitively.
Consumer market insight is defined by the American Marketing Association (AMA) as “an in-
depth understanding of customer behavior that is more qualitative than quantitative.”
Marketing research is the acquisition and analysis of information used to identify and define
marketing opportunities that connect consumers to marketers.
Research is defined as “the studious inquiry or examination; especially: investigation or
experimentation aimed at the discovery and interpretation of facts, revision of accepted theories
or laws in the light of new facts, or practical application of such new or revised theories or laws.”
Applied research attempts to answer questions related to practical problems.
Primary data is information that is collected to adress a current research question. Secondary data
is information that has been previously collected for another purpose.
Syndicated research is information collected on a regular basis using standardized procedures
and sold to multiple customers from related industry.
A research design is a framework or plan for a study that guides the collection and analysis of the
data.
Exploratory research is a marketing research design used to generate new ideas in a new area of
inquiry. Descriptive research is a marketing research design that is used to describe marketing
variables by answering who, what, when, where, and how questions. Explanatory research is a
marketing research design used to understand the relationship between independent and
dependent variable.
Research types: qualitative and quantitative. Qualitative research is a collection of techniques
designed to identify and interpret information obtained through the observation of people.
Quantitative research is a process to collect a large number of responses using a standardized
questionnaire where the results can be summarized into numbers for statistical analysis.
Focus groups are collection of a small number of individuals who were recruited using specific
criteria with the purpose to discuss predetermined topics with qualified moderators.
Structured interviews are a series of discussion held between a trained interviewer and
individuals, on a one-on-one basis.
Ethnographic research is a type of observational research where trained researches immerse
themselves in a specific consumer environment.
An internet research panel is a collection of individuals who agree, for some predetermined
incentive, to participate in questionnaires on a variety of topics as determined by the owner and
manager of the panel.
Measurement is the process of quantifying how much one variable’s set of features or
characteristics are possessed in another variable.
A marketing information system is a series of steps that include collection, analysis, and
presentation of information for use in making marketing decisions.