William Leach

In CPG, researchers often use scanner and panel data, with existing share estimates that make even minor share shifts significant. I just wrote a list of issues in understanding choices in CPG and the unique challenges compared to other categories, including… 1. Measuring Volume In CPG, understanding both the choice of product and the quantity purchased is crucial. However, standard methods for including quantity in choice models often fall short. 2. Multiple Sizes and Pack Counts CPG products come in a variety of sizes and counts, driven by marketing strategies. This variety affects patterns of competition and cannibalization, as well as price sensitivity measurement. 3. Multiple Categories CPG products are usually bought alongside others, unlike one-off purchases like cars. This raises the question of whether choices in one category are related to choices in another. 4. Choice of Where to Buy The decision of what to buy can depend on where it is purchased—whether it’s an outlet, an aisle, or online. CPG products are often available both in-store and online, adding another layer of complexity to modeling choices. A simpler approach works well for one-time, single-unit, same size purchases, but CPG products are purchased repeatedly, in different sizes and counts, and for different occasions. Therefore, CPG choice modeling involves not only the selection of a brand but also the choice of package size, count, price, and affordability, which are interdependent and affect consumer decisions For the full list of key issues in CPG research, check out the guide linked in the comments. #cpg #choicemodeling

22

5 Comments

When I read a book that educates and inspires business success, I have to share it with other people. Today, that book is by Brett Townsend and Tim Hoskins and is called, “Insights on the Brink: Revitalizing the Market Research and Analytics Industry.” The struggle it addresses is summarized with this quote: “Consumer insights is, almost without exception, classified as nonworking dollars, meaning that we’re considered a cost center instead of a revenue-generating part of the business. So from the get-go, we’re fighting an uphill battle to prove our value.” Many of the concepts resonated deeply with my real-world experience, deeply held beliefs, and lifelong passion. Research insights, analytics, and collaboration are the foundation for driving business impact. We hold the key to unlocking opportunities for change, growth, and transformation—yet we often resist the changes needed to fully unleash that potential. Insights on the Brink challenges the traditional mindsets and practices of our industry, urging us to rethink how we approach our work. It offers fresh ideas and innovative methods that help us achieve the meaningful impact we strive for but don’t always attain. Here are a few excerpts that truly resonated with me. Every time I re-read them, I find myself internally shouting, "YES! This is spot on!" • “If you can’t tell me your story in three slides, you don’t have a story.” • “I don’t need to know everything you know; I just need to know what I need to know.” • “The most successful projects are the ones where the client and agency go on the journey together.” • “And further, the agency role should not end with a report, but should follow through on implications and strategy.” • “It’s not about methodologies: We need to give ourselves permission to break free from methodology and inconsequential data and flip our mindset to focus on outcomes so we can play a more powerful role.” I invite you to get the book and discover how it inspires new thinking and actions that can make a real difference for you! Kudos to Brett Townsend and Tim Hoskins for this remarkable book! https://lnkd.in/g5Pmya_6 #MRX #Insights #ConsumerInsight #CustomerInsight #MarketResearch #MarketingResearch #BusinessImpact

28

15 Comments

Retail KPIs that include behavioral metrics are critical for understanding the true in-store performance and opportunities for both CPGs and retailers. Enjoy our blog on this topic! #cpgs #retailers #marketing

7

Losing survey respondent interest early on can have serious consequences, impacting the quality of responses. One of the worst things a market researcher can do is bore a survey taker, potentially leading to false conclusions. To keep them engaged, consider these tips: - Inform them of the number of questions upfront - Maintain a format that is straightforward but not overly simplistic (avoid true/false & yes/no) - Share the results with them; everyone appreciates seeing their POV! Remember, if you offer an incentive, clearly tell them! Keeping respondents engaged is key to obtaining valuable insights. #MarketResearch #SurveyTips

7

Recommending the book Decision-Driven Analytics by Bart De Langhe and Stefano Puntoni and The Wharton School Press. It focuses on the gap between decision-makers and data analysts, and the dissatisfaction many currently have with the ROI in analytics. Easy read with real world examples and suggestions. Makes a compelling case that decisions shouldn't be data driven, but instead data analysts should be decision driven.

17

There are multiple sources of Insights and Analytics in most big companies. It's not just consumer insights that are guiding executive decision makers, which sometimes leads to faulty inferences and less-than-ideal actions. AI has only compounded this problem. That's why Ipsos’ broad suite of AI tools is anchored in insights from real people and vetted by subject matter specialists - powering Insights professionals to channel the authoritative voice of the consumer, faster and more effectively than ever before. https://lnkd.in/gs_7RZHC Ipsos: Trusted. Global. Innovative. Fast. Flexible. #ipsosmovesfaster

1

Amazing event, great speakers and great attendees! Thanks all for making this year’s event a success! Now time to reflect on insights learned and game plans to integrate into future planning. How will you use AI to ratchet up efficiencies at your organization? How will knowing near-term risks and opportunities influence event planning and business development efforts? How will the forecast outlook for trade shows in your industry sector guide your attendee and exhibit, sponsorship sales expectations and goals? Interested in an Event Performance Analyzer tool demo to see how you can understand how your US trade show performance compares to CEIR Index benchmarks? Join others who took advantage of this at Predict. Send me a message if interested.

8

The Forrester B2B Marketing and Sales Data Strategy Model and Process have been redesigned to better meet the demands of B2B #DataQuality improvement while your business remains in motion. Changing the tires on a moving car...and other impossible things.

8

1 Comment

Morning beverages are engrained into our daily routines, and U.S. consumers always find the time to have them. Discover how beverages will impact the morning occasion over the next three years with Circana’s Future of™ Morning: https://bit.ly/4eKJ1vs

16

Brands are still in the midst of figuring out how to best integrate #AI into their day to day business. In this @Business Reporter article, my colleague @Eda Cetinok dives into Ipsos’ GET.AI framework that helps organizations prepare for AI adoption. Check it out: https://lnkd.in/gdDAVKW5

14

AVAILABE FOR PURCHASE --- The Smart Home Dashboard visualizes the most important metrics informing the strategic decision making of companies across the connected home market. Consumer Insights Dashboards present survey-based consumer research that tracks movement of foundational market metrics, such as product or service adoption, household spending intentions, churn, and key tracking metrics on leading industry players. https://lnkd.in/gA8aHyxJ

3

2 Comments

Here is a great new free text processing tool from #NewMR sponsor yasna https://lnkd.in/eEbfawpH Yasna.ai has released a free tool to simplify the analysis of open-ended survey responses and customer reviews, making it easier for researchers to extract insights from unstructured qualitative data. The tool is powered by Yasna.ai’s advanced analytics engine, designed to handle the complexities of text analysis with speed and accuracy. It automates processes like coding, percentage calculations, summarization, and provides results in just minutes. Marat Sustavov, Tanya Berlina

20

12 Comments

PersonaBots - fueled by robust research and insights - are an engaging way to bring a segment or target to life for your team and stakeholders. Let us know if you'd like to explore a PersonaBot on your next project!

7

The demand for functional beverages is on the rise as consumers adjust to work, school, and busier schedules. @[Circana](null)’s Future of™ Morning can help you understand the roles different food and beverages play in the morning to meet the shifting needs of consumers. Learn more today! https://bit.ly/4eKJ1vs

17

Obesity drugs, private-label foods and shifting social patterns are disrupting America’s food landscape. What the Future:Food lays out how stakeholders from food makers to packaging companies to appliance makers can thrive in these changes. https://lnkd.in/gqEKJByE

1

I've also been conducting B2B surveys for many years and am not surprised by the pain points real respondents have shared. Too often, clients push back when you tell them that they can't just keep adding questions and length becomes an issue. However, I have worked with some folks who appreciate the dilemma we face. One potential solution is to split samples for some questions (especially the long grids) with half the sample getting one half of the list and half getting the other. This tends to have less impact on the analysis than one would think. Also, avoiding a lot of personally identifying information should be a no brainer and often adds little value to the analysis.

1

1 Comment