Crafting customer insight: What we can learn from the revival of the vinyl record

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Schauman , S , Heinonen , K & Holmlund , M 2021 , ' Crafting customer insight: What we can learn from the revival of the vinyl record ' , Business Horizons , vol. 64 , no. 2 , pp. 261-271 . https://doi.org/10.1016/j.bushor.2020.12.003

Title: Crafting customer insight: What we can learn from the revival of the vinyl record
Author: Schauman, Sebastian; Heinonen, Kristina; Holmlund, Maria
Contributor: Hanken School of Economics, Marketing, Helsinki
Hanken School of Economics, Marketing, Helsinki
Hanken School of Economics, Marketing, Helsinki
Belongs to series: Business Horizons
ISSN: 0007-6813
Abstract: The recent resurgence of the vinyl record and the proliferation of so-called craft and artisanal products offer unique opportunities to observe ongoing shifts in the contemporary consumer’s values and attitudes. In this article, we explore such thought-provoking market developments and their implications by contrasting them with the conventional understanding of markets and consumers. This understanding can lead to marketing myopia as it works from the utility-oriented assumption that what ultimately matters for both the company and the customer is cost efficiency and convenience. Against this backdrop, in this article, we discuss how market developments representing the contemporary consumer’s mindset prove valuable in creating customer insight that highlights aspects often obscured by an exaggerated focus on cost efficiency and convenience. We provide an alternative approach to evaluating markets and consumers that encourages companies to build their customer-centric market strategies around questions of context, authenticity, story, and resonance. This will help them narrow the gap between their market offerings and the actual wants and needs of their customer, and consequently allow them to revitalize their market.
Date: 2021
Subject: 512 Business and Management
customer insight
marketing myopia
utility mindset
reflective thinking
craft mindset
vinyl record trend
Marketing Logics and Strategizing
Customers and Relations
Business, Markets and Societal Dynamics
KOTA2021?
PREM2020_extra
2 - Hybrid open access publication channel
1 - Self archived
https://helda.helsinki.fi/dhanken/handle/10227/388209
0- Ingen av författarna har en utländsk affiliation
1- Publicerad utomlands
0- Ingen affiliation med ett företag
AoS: Competition economics and service strategy - Service and customer-oriented management
Yes
SDG 9 - Industry, Innovation, and Infrastructure
Rights:


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