Do you really understand consumer purchasing behaviour?
Needs in the market are needs that consumers or customers have. Needs are not abstract but very practical and real. It’s only sometimes difficult to define these needs. One of the buzz words generated in the late 80’s and 90’s is that of ‘consumer insight’. It’s a tool to define the need in the market. Many different definitions and meanings have been given to ‘consumer insight’. So let’s start with a short definition:
There are also various tools to capture the definition of the need. TTC Strategy has worked with nearly all these tools that help businesses define opportunities by gaining a deep understanding of human (purchasing) behaviour. And how does this help start-ups and ventures? It helps them create the storytelling of the new business.