- Business and Employment
Blog 2: Facts & Insights
As we have discussed in class and found in the reading, insights and facts are different things that work together to help a marketing team plan. While facts are simply truths about a company (these were our earnings last quarter, we sell 15,000 crates a week, etc, etc) insights are inferences based in facts used to create a marketing strategy. A fact is, in many ways, an insight waiting to happen. All it takes is the gathering of enough information and a creative mind to determine what the consumer wants out of a particular brand, and how to demonstrate that the brand can deliver that to the consumer. Thus facts are not insights, however the leap from one to the other is not particularly grand once enough evidence is gathered. For example consider a few “facts” about Hershey’s chocolate.
Hershey’s best selling product is its milk chocolate bars.
Hershey has been around for over a century, and often given to children.
Hershey’s chocolate is commonly associate with s’mores.
Hershey’s chocolate is a Halloween staple, and has been for decades.
By combining these facts, we can make several inferences about Hershey’s chocolate.
Since we know that Hershey’s makes milk chocolate, and has for a long time, many consumers probably equivocate Hershey’s with a sense of nostalgia. Thus it is beneficial for Hershey’s to maintain its original packaging as much as possible, (which it has done for nearly a century...minus the claim that chocolate is "more sustaining than meat"...) and to avoid changing the recipe as to avoid irritating nostalgic adults. The nostalgia is probably especially true if they went camping as a child (the activity most commonly associated with making s’mores, because they usually require toasted marshmallows as an ingredient. It may therefore be effective to launch a marketing campaign for Hershey which shows images of family togetherness, either past or present, to invoke the warm memories of one’s own family from long ago.