Customer Centricity

Customer centricity is a report analyzing the customer purchasing decision. The result takes the shape of the “purchase funnel”, presenting the steps in customer’s purchase decision:

Awareness – Extent to which a product is recognized by potential consumers and is correctly associated with a particular product.
Consideration – Consumer evaluation of how your offering meets this need, including the evaluation of offerings from your competitors.
Preference – Consumer’s logical and emotional inclination towards one solution or another, which may ultimately lead to a purchasing decision.
Purchase intention – Extent to which consumers intend to purchase the product if they can find it.
Market share – Extent to which consumers did buy your product.
Loyalty – Likelihood that previous consumers will continue to buy your product.
Advocacy – Likelihood that consumers will promote and recommend your product.

The purchase funnel can be examined by products and by consumer segment (using drop down menus).

Note that awareness, purchase intentions and market shares mentioned in the purchase funnel (customer centricity) are also mentioned in consumer survey and consumer panel discussed above (B. Consumer survey and C. Consumer panel).

Figure 25 – Market Research – Customer Centricity – Purchase Funnel

Marketing, Digital Marketing and Circular Economy Initiatives (“marketing powerhouse”) do have an impact on the consumer’s purchase funnel. Initiatives impact the purchase funnel differently:

some initiatives are more relevant to stimulate the top of the funnel: AWARENESS
other initiatives are more useful to generate more INTEREST (consideration + preference)
others are more likely to boost sales and raise ACTION (purchase intentions + market shares)
others are more relevant to enhance customer’s ENGAGEMENT (loyalty + advocacy)

In addition to the purchase funnel of each of your brands, the Customer Centricity report provides a review of the marketing, digital and circular initiatives implemented in last period with their impact at firm and brand levels as shown in Figure 26.

Figure 26 – Market Research – Customer Centricity – Marketing, Digital and Circular Initiatives