ELEVATE Insights

Business decision-makers are today searching for ways to get ‘real’ and ‘actionable’ insights while leveraging technology to do this in the most efficient way. Big data and AI are changing many aspects of marketing and market research but when it comes to first-hand ‘consumer’ feedback ‘specific to your initiatives or brand’, there is still a big gap.   Companies that excel in distilling insights toward a strategy are often not technology-enabled. Technology leaders are interested in offering SAAS products and these are rarely ready to use without expert human intervention.    Specifically, when it comes to deep human insights and qualitative research areas, this gap is the widest.   No longer!! No need to compromise!!!   At ELEVATE Insights | Marketing Research and Consulting our proprietary ‘HUMAN’ framework is now fuelled by a technology backend that assists us and enables us to scale deep qualitative insights in multiple ways. Get in touch with us today to see how we may solve your business problems via deep HUMAN insights scaled with our AI backend.     #AI #QualitativeMarketresearch #Human #Insights #strategy

Remember that time you bought something on a whim? Maybe it was a new shade of lipstick, a cozy throw for your couch, or a cool gadget. Those unplanned, spontaneous purchases are what we call impulse buys. Lately, there's been a big uptick in online impulse buying, especially with e-commerce and q-commerce. According to Financial Express, these impulse buys make up about 30% of the Average Order Value (AOV) for Q-Commerce companies and 15-20% for retail sites selling home décor, furnishings, and cosmetics. By tapping into our psychological triggers, brands craft marketing efforts that make us click that 'buy now' button. Let us understand the whys behind impulse buying and some of the ways brands get consumers to make those spur-of-the-moment purchases. #ImpulseBuying #BehaviouralScience #Marketing

"How do I set the right tone for consumer conversations? Should I jump in and steer discussions, or let them unfold naturally?" Moderation is more than just asking questions—it's about navigating the nuances of human behavior. The art of moderation lies in the balance—between active listening and subtle probing, empathy and objectivity. To master this art, here are some best practices: Set Clear Guidelines: Ensure everyone knows the community rules. Be Proactive: Engage regularly to guide and enrich discussions. Listen and Respond: Address concerns promptly to build trust. Maintain Neutrality: Keep conversations respectful, even in heated moments. Encourage Positivity: Reward constructive contributions to foster a supportive environment. Tailor Your Moderation Style: Adapt your approach basis community’s objectives. #EffectiveModeration #CommunityEngagement #ConsumerInsights #ActiveListening

Is there a method to work towards magnifying the impact of our brand or policy initiative? The STEPPS framework, developed by Jonah Berger, a marketing professor at the University of Pennsylvania and author of Contagious: Why Things Catch On, outlines six powerful principles to captivate your audience and drives widespread engagement. Whether you're promoting consumer products or policy initiatives, applying the STEPPS framework can help you craft a compelling message and make your brand stand out in a crowded market. #MarketingStrategy #MarketingFramework #BrandBuilding

Yes, I may not choose a zero-sugar ice cream versus my favourite indulgent brand even when wanting to lose weight. Behavioural science explained all human behavior to be “irrational” given to biases like loss aversion (the tendency to prefer avoiding losses over acquiring equivalent gains or the anchoring effect (how initial information can disproportionately influence subsequent judgments) and other many biases which deviate consumer choices from rational expectations. For example, in the ice cream case, I may have been lured by the indulgent imagery of the other brand; put a premium on immediate sensorial pleasure vs long term benefits of eating healthier. Put like that the behavior indeed sounds irrational! But, can all consumer behaviour be labelled as ‘Irrational’? Mahmoud Yousef Askari and @Ghaleb A El-Refae, professors in College of Business, Al Ain University, UAE proposed a new perspective on utility and decision-making. ......continue reading on our website https://lnkd.in/gMdGA-Qy #behavioralscience, #human,#ethnography, #qualitativeresearch ESOMAR, Quirk's Media, Greenbook, Insights Association, ELEVATE Insights

**Why do startups fail?** When it comes to startups, failure is alarmingly common. You've probably come across the widely cited statistic that 90% of startups fail. The reasons behind these failures are numerous, ranging from lack of experience and poor management to financial struggles and everything in between. However, the topmost reason for a startup to fail is the lack of product-market fit. A study reveals that 42% of startups fail because of a lack of product-market fit (PMF). Therefore, it is crucial for startups to identify a problem worth solving and then develop a solution that meets the market’s needs. Other reasons for a startup to fail are: * No Clear Business Model * Running out of cash * Weak Marketing Strategy * Poor Timing * Operational inefficiencies & high burn rates. * Lack of User centricity At Elevate Insights, we help startups by deeply understanding their business problems and developing a strategy for a better product-market fit. #Startup #ProductMarketFit #BusinessStrategy

Your pricing strategy should not be governed by competition. In fact, consider breaking through market clutter by creating unique pack-price strategies that align with your brand proposition. However, competition benchmarking is a great way to inform your marketing strategy and stay ahead. Decoding Competitor pricing analysis involves evaluating your competitors' pricing structures to understand their strategies and market positioning. 1. Identify Key Competitors; Determine who your main competitors are. Look at direct competitors and those offering similar products or services. 2. Gather Pricing Data; Collect data on your competitors' pricing from their websites, market reports, and customer feedback. Regularly update this information. 3. Analyse Pricing Models; Examine the different pricing models used by competitors, such as cost-plus, value-based, or dynamic pricing. 4. Evaluate Value Proposition; Assess how competitors' pricing aligns with their value propositions. Look at factors like quality, brand reputation, and customer service. Are they positioned as a premium offering or are they trying to win via affordability? 5. Monitor Trends; Keep an eye on industry trends and economic factors that could influence pricing strategies. Adapt your analysis as the market evolves. 6. SWOT; Finally, use the insights gained to refine your own pricing strategy. Aim for competitive yet profitable pricing that highlights your unique value proposition. For more such insights, follow us on ELEVATE Insights To refine or finetune your value proposition, get in touch with us at hello@elevateinsights.in #PricingStrategy #CompetitorAnalysis

 *Who is the Middle Class in India?* The recent budget has sparked controversy, with claims that it does not provide adequate tax exemptions for the middle class. But who exactly is the middle class? Different sources define the middle class differently. Based on a survey of 2020-21, there are 432 million people, almost 31% of the population, in India that belong to this segment. But, how should we look at India? Blume Ventures had spoken about India segments and we touch upon the same with some examples of companies who have really done a great job of reaching to middle class. Here is our take on understanding the middle class and some strategies on how to leverage and market to the middle class.  #Middleclass #India #brandstrategy #marketing

The Olympics are upon us, and it’s not just athletes gearing up for glory. It’s a global stage where brands can captivate billions and drive unprecedented engagement. This cultural spectacle has the power to shape brand narratives and consumer perceptions on a grand scale. “All eyes on Paris” is more than just a phrase; it’s a call to action for brands to shift their focus. Visa’s “Small Steps to Inspire a Billion” campaign perfectly encapsulates this spirit. With the Olympics broadcast across continents, brands have a unique opportunity to tap into the collective excitement and passion of millions. Whether through innovative campaigns or strategic sponsorships, the Olympics offer a golden platform for brands to forge deeper connections with their consumers. Let’s dive into some insightful snippets from a recent discussion hosted by CNBC-TV18. Featuring Vinit Karnik , Divyanshu Singh , Nipun Kaushal Sujatha V Kumar , and Hari Krishnan this discussion showcases how leading brands are not just supporting the games but are also making their mark in innovative and engaging ways. From Tasva’s role as the official ceremonial dress partner to Visa’s inspiring campaign with Neeraj Chopra and PV Sindhu, these brands are setting the bar high. Explore how these leaders are making waves and drawing consumers into their Olympic narratives. As we watch these strategies unfold, we ask: Are you making the most of the Olympic excitement? Reach out to us for insights and strategies on how to leverage such events and connect with your audience. #Olympics2024 #Paris2024 #BrandEngagement #MarketingStrategy #SportsMarketing