On Wednesday of this week, a company called dunnhumby joined us. Founded by Clive Humby and Edwina Dunn in 1989, the company does market research and tries to get companies to focus more on customers and less on finances. dunnhumby has three core values: 1. data insight; 2. brand value; and 3. customer experience. Using data insight, dunnhumby helps to shape the brand value of companies in a way that will result in the best customer experience. dunnhumby is about the long-term when they take on a project: "We help brands and organizations build value based upon deep shopper insights." The help set up a plan for the long run.
After getting an explanation of the company we we invited to do a little market research of our own. We did the Shopping Receipt Exercise. We paired up and were given two receipts, A and B. We were instructed to review them and she what information we could get. By looking at what items shoppers A and B bought, we could infer that one was the mother of a baby. We could also infer that the other shopper was a little more well-off. We were then given two more receipts from both shoppers. We examined all aspects of the receipts to see what else we could learn about these particular customers. We were able to figure out if the customers were price sensitive, if they used a car frequently, whether they were impulsive buyers, and if they were frequent shoppers. We were asked to use this information to make suggestions to the store on how to improve the shopping experience of the customers. It was a cool way to understand some of the things dunnhumby does.
If you are a junior interested in an internship, check out their website at dunnhumby.com.