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Abstract

In order to meet the urgent revenue challenges, companies need deeper insight than those provided by today’s usual market research. To be able to prioritize which actions can have an expedient impact on growth, companies must be able to quantify why consumers make the decisions they make. Armed with insights that had better explain why consumers choose certain products, channels and competitors over others, companies can focus on growth by increasing volume with existing products and grabbing revenue share from their rivals. 
Consumer Decision Process (CDP) works to solve the revenue growth challenge by providing deeper insights into customer purchase decisions. This process deconstructs the processes into thousands of tactical elements that affect the decisions of consumers from customers’ attitudes to competitive prices, advertising messages to sales tactics and from consumers’ emotions to product characteristics. (Richard Maltsbarger, 2004)
Consumer Decision Process uses the data on hundreds if not thousands of consumers’ decisions to measure how much impact an element has on the final purchase decision. Using the CDP can make faster revenue growth and help gain on market shares.
The Required Customer Insights that business marketing needs from the consumers is as follows:
WHO- Segments consumers through identifiable characteristics but does not explain or anticipate shifts in these characters.
WHAT- Identifies what consumers buy but does not explain shifts in purchasing patterns.
WHEN- Identifies how long and when consumers make purchases but do not explain why timing differs between consumers.
WHERE- Identifies places (e.g., locations.geography, channels) where consumers buy but does not explain why differences exist.
WHY- Explains shifts and differences in aggregate patterns of consumers’ behaviors, purchasing patterns, and...