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    Rishabh Srivastava M20191564 CORE-4 Assignment-2 in The First Video

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    This document summarizes key points from two videos about understanding consumers. The first video discusses how the consumer landscape is changing rapidly and consumers want choices and new products. It also talks about how technology plays a role in conventional businesses through resource and profit optimization. The second video discusses how the pandemic accelerated P&G's use of virtual consumer engagement methods. It also explains how advances in data analytics, machine learning, and behavioral sciences have transformed P&G's research capabilities and how economic downturns may move consumers towards trustworthy brands that provide value.

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    Rishabh Srivastava M20191564 CORE-4 Assignment-2 in The First Video

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    Rishabh Srivastava
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    This document summarizes key points from two videos about understanding consumers. The first video discusses how the consumer landscape is changing rapidly and consumers want choices and new products. It also talks about how technology plays a role in conventional businesses through resource and profit optimization. The second video discusses how the pandemic accelerated P&G's use of virtual consumer engagement methods. It also explains how advances in data analytics, machine learning, and behavioral sciences have transformed P&G's research capabilities and how economic downturns may move consumers towards trustworthy brands that provide value.

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    BSP Assignment-2

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    This document summarizes key points from two videos about understanding consumers. The first video discusses how the consumer landscape is changing rapidly and consumers want choices and new products. It also talks about how technology plays a role in conventional businesses through resource and profit optimization. The second video discusses how the pandemic accelerated P&G's use of virtual consumer engagement methods. It also explains how advances in data analytics, machine learning, and behavioral sciences have transformed P&G's research capabilities and how economic downturns may move consumers towards trustworthy brands that provide value.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    28 views5 pages

    Rishabh Srivastava M20191564 CORE-4 Assignment-2 in The First Video

    Uploaded by

    Rishabh Srivastava
    This document summarizes key points from two videos about understanding consumers. The first video discusses how the consumer landscape is changing rapidly and consumers want choices and new products. It also talks about how technology plays a role in conventional businesses through resource and profit optimization. The second video discusses how the pandemic accelerated P&G's use of virtual consumer engagement methods. It also explains how advances in data analytics, machine learning, and behavioral sciences have transformed P&G's research capabilities and how economic downturns may move consumers towards trustworthy brands that provide value.

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    of 5

    RISHABH SRIVASTAVA

    M20191564
    CORE-4
    ASSIGNMENT-2

    IN THE FIRST VIDEO


    Govindraj Ethiaj interviewed Varun Berry CEO of Britannia and talk about
    understanding of consumer landscape, different type of products, how technology play
    role in the business. I have summarized them in some points which are shown below: -

    CONSUMER LANDSCAPE IS CHANGING VERY


    RAPIDLY
    Now the new young generation consumers mostly don’t prefer only a single product
    they like to have choices for them they want to try new things that’s why now days
    every category have now 7-10 brands because now it’s important for companies to
    make innovations, bring new products and understand the consumer and provide them
    what they want. Recent example would be Pure Magic deuce recently launched by
    Britannia which is combo of chocolate and biscuit.

    CONSUMER MORE INTERESTED IN THE


    DETAILS
    If we talk about 7-8 years back then people mostly read newspaper for the news but
    now days people get to know deeply whatever they like whether it is because now
    they have many sources to get the information. That’s why companies have to
    understand consumer and provide what they need because now consumer knows what
    they want.

    INDIAN CONSUMER IS ASPIRING WITH


    PRAGMATISM
    As we know that now consumers have so many platforms to talk about or top get the
    information which they need it’s very important to know whether this information or
    talk right or not. But if talk about Indian consumer they are aspiring for sure but they
    are aspiring with pragmatism. If you are listening only one side story and not
    grounding with pragmatism then u can go wrong as Britannia did by launching
    Britannia Good Day Chunkies with the wrong pricing in India.

    DEMOCRATIZATION IS THE POLICY TO BE


    FOLLOWED.
    For Indian consumers you have to take care about the pricing of your product in terms
    of value. If your pricing gone wrong then irrespective your product is good it will be
    going to failed because suppose customer like your product but if they don’t want to
    spend that much amount of money then what’s the point of making that product.
    That’s why democratization is the policy which Britannia follow and every company
    should follow.

    TECHNOLOGY DOES PLAY A ROLE IN


    CONVENTIONAL BUSINESSES.
    As we all know that e-commerce businesses are growing very rapidly in now days and
    for them technology plays a vital role in their businesses. For conventional business
    also technology does play a role which are basically two types of role Resource
    optimization in which basically technology helps us to the material from the right
    sources, minimize the duplication work. In Profit optimization companies get the
    data from which they can maximize their profit. Example: - As Britannia give their
    sales agents a gadget which help them to identify the untapped potential shops for
    their products.
    INNOVATION AT A HEIGHTENED LEVEL THIS
    YEAR.
    This year Britannia makes investment in innovations and bring those innovations into
    their new different products if we want to compare then there is no product in the
    market of that category so Britannia’s innovation at a heightened phase this year.

    FOOD CATEGORY IS LARGE ENOUGH FOR


    BRITANNIA TO GROW.
    Britannia is planning to get into new categories in which current they don’t have a
    product and it will be an inflection point in Britannia history because they are
    planning to get into some other food categories rather than focus only core biscuit. So,
    for Britannia food category is enough to grow they are not planning to outside of food
    category.

    IN THE SECOND VIDEO


    Charles Trevail interviewed Kirti Singh, who is the Chief Analytics & Insights Officer
    at P&G where he leads a consumer insights department, which has been named as one
    of the world’s most innovative client-side research teams, and in this video they
    talking about the philosophy and purpose behind P&G’s insights team, and how
    advancements in technology, and research methodologies have transformed how they
    understand human behaviour, emotion, and consumption. I have summarized them in
    some points which are shown below: -

    HOW THE PANDEMIC CHANGED P&G’S


    CONSUMERS’ RESEARCH METHODS AND
    ACCELERATED VIRTUAL ENGAGEMENT.
    Today the variety they have is tremendous. If they want to go to consumer house, they
    can but as we all know the pandemic which Is going on since last 6 months so, it’s not
    possible now. That’s why they made ways of virtually connect so that they can
    connect virtually with their consumers and engage with them as much as they can and
    still, they will do the same thing as observe listen to the consumer and interact with
    them.

    HOW ADVANCEMENTS IN DATA ANALYTICS,


    MACHINE LEARNING, BEHAVIORAL SCIENCES,
    AND OTHER METHODOLOGIES HAVE
    TRANSFORMED P&G’S RESEARCH CAPABILITIES.

    As we can see that behavioural sciences which have tremendous amount of


    development over the last few years because P&G leverage this very much that how a
    human mind work, and how they can understand that and help them with their
    understanding and serves consumer better. If we talk about data analytics, machine
    learning, completely changed the research capabilities. Earlier if they want to do a
    survey, so they used to prepare a questionnaire about 100 question which takes huge
    amount of time and resources like door to door, telephonic but in today's world you
    can go for technologies like IOT and can get answers what they want. See behind this
    there is a huge data working, and behind this data there be a man and because of him
    It's possible that we get the answers which we want.

    HOW THE ECONOMIC DOWNTURN WILL AFFECT


    CONSUMERS’ CHOICES AND LIKELY MOVE THEM
    TOWARDS BRANDS THAT ARE TRUSTWORTHY,
    RELIABLE, AND PROVIDE VALUE.

    See as we all know that because of this pandemic COVID-19 situation there is an
    economic downturn. Many people lost their jobs which is impacting the consumers’
    choices and their behaviour towards the brands. Now consumer is not ready to take
    risks and make changes or no compromise regarding quality, cleaning, hygiene. So,
    consumers are now likely to move towards brands that are trustworthy, reliable and
    provided value and as we all know that P&G is known for trustworthy and reliable
    brand, so people more likely to go with the P&G brand. They are also trying to
    connect virtually more with their consumers to get to know what’s in their minds.

    WHY BEING A SUCCESSFUL INSIGHTS LEADER


    REQUIRES CURIOSITY, A GROWTH MINDSET, AND
    CONTINUOUS REINVENTION?

    For being a successful insights' leader, you need to require curiosity, a growth
    mindset, and continuous reinvention because it’s very important for a leader to be
    curious about what’s happening in market. He should have a growth mindset because
    it's his as a leader to think about growth so for that he should have a growth mindset.
    As a successful leader, you need to be a continues reinvention Because, in now a
    day’s technology is changing rapidly so to be in market as a leader you have continues
    to reinvent.

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