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Insight - the Process
At the core of insight, is the preparation and execution of market research plans by students, for corporate clients. This process occurs over 10-12 weeks prior to the fair and has three basic stages:
- The client provides an initial brief describing the research problem
- Multiple teams present their research plan in a series of proposals to representatives of the client. The client then evaluates the proposals and selects the ones that best fit her needs.
- The client coordinates with the selected teams to further develop and refine the research plans.
- Thereafter, the project teams spend considerable time and effort in designing games which put the respondents in a more natural environment, and capture her real responses to a situation. This provides both us and our clients with a far deeper insight into the consumers’ mind.
- At the fair, thousands of consumers come down to the fair to have a day of fun. They enjoy the games, the food and the fair ambience while the students observe their response.
- Post fair teams apply their knowledge of marketing and market research to perform analysis and derive useful insights into consumer behaviour. Along the way, they are also competing for the grand prize of the best project award.
- Finally, the research findings are summarized and presented to the clients for their perusal.
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