Uncovering Consumer Nascent Demand · 2019. 4. 16. · B2B and own brands and investments Team of...
Transcript of Uncovering Consumer Nascent Demand · 2019. 4. 16. · B2B and own brands and investments Team of...
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Uncovering Consumer Nascent Demand
Khosro Ezaz-Nikpay, Ph.D.Enjoin Partners Ltd.Zendegii Ltd
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Insight: Nascent Demand
Execution: Talent, innovation cells and portfolio of bets
Focus: Consumer facing or consumer need-driven industries
Examples:
Brief introduction to Enjoin & Zendegii
Food and beverage innovation
Rapid prototyping and technology development for FMCG and retail
B2B and own brands and investments
Team of consultants,
scientists, engineers,
psychologists, artists & experts
Patents (e.g., flavour technology to create organoleptic placebo effects)
Increase innovation pipeline
Double bottom-line within 1 year
Launch new products and services in half the original time
Refine existing value propositions and drive sales growth
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Strong industry growth is happening in innovative propositions across even the most traditional segments
The news
The good
news
Overall growth beyond GDP is always under pressure and less than 5% of products/services launched make it big (>$50m)
The bad
news
Many players are either incrementalists or plagiarists or technology hopefuls. But innovation is primarily an effectiveness game and only secondarily an efficiency play
The no
news
The consumer’s body, emotions (physical, instinctual), feelings (external triggers), and mind are the ultimate source of differentiation and far from explored
The great
news
Consumer nascent demand can be explored and delivers specific, differentiated value propositions
The
amazing
news
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CONFIDENTIAL09/04/2019© 2019 ZendegiiWhat happens when you are asked a question?
Source: Zendegii framework and analysis
Recognition, heuristicsInstinctual, consistent with biases
Intellectual exploration/Why?Access known rationale or cognitive resonance
Hidden internal influencersPicturesSensesBody/gut feelEmotionsFantasiesCreativityFlowRitualDevelopmental exploration/How?
Hidden external influencersEmerging memes/trendsEmerging technologies/capabilitiesSerendipitous emergenceInfluencer behavior
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CONFIDENTIAL09/04/2019© 2019 ZendegiiHow to find differentiation? The gaps
?
Source: Zendegii framework and analysis
Understanding the consumer in new ways Authentic and creative response to solutions
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Non-biased (you), highly biased (consumer)
Consumer as co-creator: emergent needs
Tangible input to product or prototypes
Granularity of product/marketing features
Statistical and market relevance
What would an ideal tool for discovery of Nascent DemandTM look like?
Source: Enjoin/Zendegii Ltd.
Deep data to complement big data
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CONFIDENTIAL09/04/2019© 2019 ZendegiiThe logical way has strong confirmation bias
1. Define target segment and recruit
2. Generate set of visuals, themes, prototypes that embody the solution
3. Check ideas with consumer by exposing them to the visual, theme or prototype
4. Interview them about their likes and dislikes (ideally along a parameter)
5. Consolidate findings
6. Be amazed that consumers confirm most of your initial expectations
X
✓✓
XXX
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CONFIDENTIAL09/04/2019© 2019 ZendegiiWhat to do to extract relevant and granular insight
1. Define target segment and recruit
2. Create prototypes (that contain explicit falsifiable hypotheses)
3. Trigger sensory pathways for product/service category (not prototype!)
4. Trigger self-development pathways that brings consumer into a “flow” state
5. Explore intensity signals (typically physical/emotion-based)
6. At point of highest intensity (authentic state) expose to prototypes
7. Analyze and include into next generation prototype
8. Quantitative preference test against benchmark This analysis has so far been done for B2C:
FMCG, financial services, retail, web
services and packaging
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CONFIDENTIAL09/04/2019© 2019 ZendegiiValuable outputs
Examples on the following pages
Specific organoleptics, ingredients, colors,
haptics, geometry and associated sound, or
ritual
Source: Nascent DemandTM
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Red wine: Non-intellectual social drink, that is between a juice and wine. First sip matters
Trigger points for consumption or avoidance Journey of sensations
Do not launch as an alcohol-free wine but a emotional (non-intellectual), social beverage
positioned between juice and wine
Source: Nascent DemandTM
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Different drinks show different psychological “feel”
Themes can deliver “feel” of the product for marketing
Source: Nascent DemandTM
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CONFIDENTIAL09/04/2019© 2019 ZendegiiSignature taste beats top category performer
Sensory priorities
Check differentiation
Quantitative results show promising prototypes
▪ Product is already a top performer
▪ Quantitative tests conducted in relevant segments in two different regions in Asia and America
▪ Changes increase overall liking by a significant amount
▪ Changes increase emotional and functional equities
▪ Signature taste has succeeded in targeting the nascent needs of the consumer (flavor but also other organoleptics)
▪ Additional insight into marketing priorities, language, and packaging
Source: Nascent DemandTM
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CONFIDENTIAL09/04/2019© 2019 Zendegii
Source: Zendegii Ltd.
THANK YOU