Creating customer knowledge. Turning 'insight' into sustainable advantage

David G. Bakken and Michael A Lotti

Consumer insights do not arise from better data or information alone. Customer knowledge creation requires three important elements: a 'behavioral model' or theory of consumer behavior; continual fact-gathering; and revision of the theory as new facts are integrated into the experience base.

Creating Customer Knowledge

Turning “insight” into sustainable advantage

David G. BakkenHarris Interactive, United States

Michael A. LottiGlobal Business Research, Eastman Kodak Company, United States

INTRODUCTION

Globally in 2002, companies and other organizations spent the equivalent of $10.5 billion (USD) with the top 25 market research agencies in pursuit of data, information, and knowledge about their customers. While in the specifics there is wide variation in the activities funded by this considerable sum, the goal of all this spending, in one form or another, is development of insight into the determinants of customer behavior. Anyone who is familiar with...

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