Consumer & Market Knowledge (CMK) at P&G

Summary

The video script emphasizes the importance of understanding consumer needs in product design, particularly in the context of Procter & Gamble (P&G). It highlights the balance between data analysis and consumer interaction, where insights from real people guide decisions. The speaker describes how consumer feedback helps shape innovations like the 'magical pods' in diapers, which address issues such as bulkiness and sagginess. The company’s approach fosters a culture of curiosity and collaboration, ensuring that consumer needs remain at the center of product development and marketing strategies.

Takeaways

• 😀 Designing a good product starts with understanding people's unique needs; no two humans are alike.
• 🔍 The role of CMK (Consumer and Market Knowledge) is to understand consumers and markets, then bring that knowledge to the company to make informed decisions.
• 📊 CMK provides a balance between analyzing data and engaging with consumers to understand their motivations.
• 🌍 Research, including consumer feedback from various countries (e.g., China), is key to uncovering valuable insights.
• 🍼 Diapers can become bulky, affecting how babies move, which is a concern for some parents.
• ✨ The innovation of 'magical pods' in diapers helps solve the sagginess issue by distributing liquid evenly.
• 💡 CMK plays a crucial role in shaping product innovations by working with R&D and marketing teams.
• 🤝 Collaboration with multi-functional teams ensures that consumer needs are at the center of decision-making processes.
• 🎯 The price and specific features like 'magical pods' are critical factors in consumer decisions between similar products.
• 📈 Tracking how new product innovations perform in the market is an important part of CMK's ongoing process.

Q & A

What is the primary focus when designing a good product?

The primary focus is understanding people's needs, recognizing that no two humans are alike, and bringing that knowledge into the company to make informed decisions.

What does CMK stand for, and what is its role in P&G?

CMK stands for Consumer and Market Knowledge. Its role is to balance analytical data analysis with direct consumer interaction to ensure decisions align with consumer needs.

Why does the speaker find working in CMK fascinating?

The speaker finds it fascinating because they get to understand why people do what they do and use data to influence product decisions that have a real impact on the company.

What project is the speaker currently working on?

The speaker is working on a diaper innovation project called the 'next daya pair,' which they are preparing to bring to the market.

What inconvenience did one mom mention about diaper usage?

One mom mentioned that diapers tend to become bulky, making her baby’s walk look awkward or silly.

What does 'insight' mean in the context of CMK?

'Insight' refers to uncovering a motivation or need in the consumer, which could come from direct consumer feedback or data analysis.

How does CMK use consumer feedback to improve products?

CMK analyzes consumer responses, finds common themes, and uses those insights to influence product innovations, like addressing diaper sagginess with 'magical pods.'

What is the role of CMK in product development at P&G?

CMK works closely with marketing and R&D to ensure consumer needs are at the center of product development and communication.

Why did one mom choose the 'baby dry' diaper over others?

The mom chose the 'baby dry' diaper because it offered a better price and had 'magical pods' that addressed the issue of sagginess.

What qualities is P&G looking for in new hires for CMK?

P&G is looking for people who are curious, willing to always ask 'why,' and who can 'peel the onion' until they fully understand the consumer and the market.