Stanford University Graduate School of Business Professor of
Marketing Itamar Simonson explained how the rise of
today’s informed and empowered consumer is subverting marketing convention.
brands in many categories’moreover, branding, conceptually’and traditional
constructs like loyalty, positioning and targeting are losing relevance and
their preferences are increasingly transient, malleable and subject to the
influence of other consumers, he noted.
Accordingly, brands as value proxies and loyalty as a purchase driver are
measuring consumer preferences today will prove increasingly difficult.
He said he expects loyalty metrics like NPS and lifetime value measures to lose utility and
that market research will focus less on tracking and more on conducting quick
experiments (A/B testing, etc.).
ABOUT THE AUTHOR
Marc Dresner is IIR USA’s sr. editor and special communication project lead. He is the former executive editor of Research Business Report, a confidential newsletter for the marketing research and consumer insights industry. He may be reached at email@example.com. Follow him @mdrezz.