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Module 5

The document outlines the integration of AI in product management, focusing on AI-powered market research. It details various modules covering topics such as data collection, sentiment analysis, predictive analytics, consumer segmentation, and competitive analysis, emphasizing the efficiency and accuracy AI brings to market research. The module also includes case studies, such as Starbucks, to illustrate the practical applications of AI in enhancing product management strategies.

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0% found this document useful (0 votes)
22 views80 pages

Module 5

The document outlines the integration of AI in product management, focusing on AI-powered market research. It details various modules covering topics such as data collection, sentiment analysis, predictive analytics, consumer segmentation, and competitive analysis, emphasizing the efficiency and accuracy AI brings to market research. The module also includes case studies, such as Starbucks, to illustrate the practical applications of AI in enhancing product management strategies.

Uploaded by

vishal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Artificial Intelligence (AI) in Product Management

Module 5
AI–Powered Market Research

Prof. ZILLUR RAHMAN


Department of Management Studies, IIT Roorkee

1
Part 1: Introduction to AI in Product Management
Module 1: Introduction to Product Management
Module 2,3 & 4: Role of AI in Product Management

Part 2: Market Research using AI


Module 5: AI-Powered Market Research
Module 6: AI-Powered Market Research Tools
Module 7: Analyzing Qualitative Data with AI
Module 8: Enhancing Quantitative Research with AI
Module 9: AI in Customer Sentiment Analysis
Module 10: Predictive Analytics in Market Research

Part 3: AI for Idea Generation and Marketing Planning


Module 11: AI in Brainstorming & Idea Generation
Module 12: Validating Ideas using AI
Module 13: AI-Driven Prioritization
Module 14: Integrating AI into Marketing Planning

2
Part 4: Category Management and Customer Analysis using AI
Module 15: Market And Category Analysis with AI
Module 16: AI Tools for Customer Segmentation
Module 17: Personalization Engines using AI
Module 18: AI in Omni-Channel Customer Engagement
Module 19: AI Driven Customer Journey Mapping

Part 5: AI in Competitor Analysis


Module 20: Introduction to Competitor Analysis using AI
Module 21: Competitive Intelligence with AI
Module 22: Competitor Monitoring using AI
Module 23: Using AI to Predict Competitor Moves
Module 24: Case Studies on AI in Competitor Analysis

Part 6: AI in Sales-Forecasting, Strategy and Scenario Analysis


Module 25: Sales Forecasting Models using AI
Module 26: AI Tools for Demand Planning
Module 27: AI for Sales Strategy Development
Module 28: AI in Sales Training
Module 29: Risk Modeling and Scenario Analysis with AI

3
Part 7: Developing AI-Enhanced Product Strategy
Module 30: Strategic Planning with AI Insights
Module 31: Positioning and Differentiation using AI
Module 32: AI in Brand Management
Module 33: Product Lifecycle Management with AI
Module 34: Case Studies on AI in Product Strategy

Part 8: New Product Development Using AI


Module 35: Product-Led Growth using AI
Module 36 & 37: New Product Development using AI
Module 38 & 39: Transforming New Product Development: The impact of AI
Module 40: AI in Go-To-Market Strategies

Part 9: Price Optimization Using AI


Module 41,42,43,44 & 45: Price Optimization using AI

Part 10: AI in MVP, Agile and Roadmap Development


Module 46: Agile Development using AI
Module 47: Roadmap Development using AI
Module 48 & 49: AI for MVP (Minimum Viable Product)

4
Part 11: AI in Promotion, Advertising and Distribution
Module 50 & 51: AI-Powered Advertising
Module 52: AI in Channel Management
Module 53 & 54: Distribution Optimization using AI

Part 12: Managing Performance with AI


Module 55: AI in Performance Monitoring
Module 56: Revenue and profitability Analysis using AI
Module 57: Benchmarking and Adjustments using AI
Module 58: Customer support using AI

Part 13: Ethical Considerations and Future Trends in AI for Product Management
Module 59: Challenges & Ethical Considerations
Module 60: Future Trends in AI for Product Management

5
Part 2
AI-Powered Market Research
MODULE 05

6
MODULE OVERVIEW

▪ In this module, we will explore how to effectively integrate AI into


marketing research to enhance product management.
▪ You will discover how to leverage AI for more efficient data
collection, uncover customer insights, achieve precise market
segmentation, conduct thorough competitive analysis, and develop
optimized product strategies
▪ In this module, we will also explore how AI-
powered marketing research can be applied to
product management, using Starbucks as a case
study.
7
INTRODUCTION

▪ Marketing research is an essential element of product


management, providing the insights necessary for informed
decision-making throughout the product lifecycle.
▪ It encompasses a systematic approach to
gathering, analyzing, and interpreting data
related to market needs, customer
preferences, and competitive dynamics.

8
Role of Marketing Research in Product Management

Identifying Customer Assessing Market Analyzing Competitors Data-Driven


Needs Opportunities Decision-Making

Influencing Product Guiding Product Supporting Product


Strategy Development Launch

9
Introduction to AI in Marketing Research

10
Overview of AI in Marketing Research

▪ AI has revolutionized marketing research by automating data collection,


analysis, and interpretation.
▪ It allows companies to analyze vast datasets quickly and accurately,
uncovering insights that inform strategic decisions.
▪ Industries such as healthcare, finance, and retail are
increasingly leveraging AI to enhance customer
engagement and optimize marketing campaigns.
▪ The integration of AI technologies enables businesses
to gain a competitive edge through improved accuracy
and cost-effectiveness in their research efforts
11
Overview of AI in Marketing Research

AI Technologies that are Transforming Marketing Research:


Machine Learning (ML): Algorithms analyze data patterns to predict future
trends, enhancing the ability to tailor marketing strategies effectively.
Natural Language Processing (NLP): This technology enables sentiment
analysis and understanding of consumer feedback from various sources,
providing deeper insights into customer perceptions
Further slides will delve into the utilization of artificial
intelligence (AI) in understanding customer behaviour, market
segmentation, Competitive Analysis, AI-Powered Product
Development and more
12
Applications of AI in Market Research

13
Applications of AI in Market Research:

Sentiment analysis:
▪ AI-powered sentiment analysis enables market researchers to analyse the
emotions, opinions, and attitudes expressed in large volumes of text data,
such as social media posts, customer reviews, and survey responses.
▪ Natural Language Processing (NLP) algorithms
categorize the sentiment as positive, negative, or
neutral, providing valuable insights into customer
perceptions and preferences.

14
Applications of AI in Market Research:

Sentiment analysis:
Example: Cosmetics businesses can use AI in market research to quickly
analyse thousands of social media posts to gauge customer sentiment
towards their latest product launch, allowing them to make informed
marketing decisions and improve their product.

15
Applications of AI in Market Research:

Predictive analytics:
▪ AI algorithms can analyse historical data, identify patterns, and
make predictions about future market trends and consumer
behaviour.
▪ Predictive analytics helps market
researchers forecast demand, optimize pricing
strategies, and make informed decisions about
product development, marketing campaigns, and
inventory management.
16
Applications of AI in Market Research:

Predictive analytics:
Example: eCommerce retailers can analyse historical customer
data, market trends, etc. to accurately forecast future demand
for products and optimize marketing campaigns.

17
Applications of AI in Market Research:

Consumer segmentation:
▪ AI-driven market research clustering algorithms group consumers
into distinct segments based on similarities in their demographics,
behaviours, and preferences.
▪ Market researchers can then tailor marketing
strategies and messages to each segment,
improving campaign effectiveness and enhancing
customer targeting efforts.
18
Applications of AI in Market Research:

Consumer segmentation:
Example: Fashion brands can analyse diverse data sets to identify
distinct customer segments based on demographics, behaviours, and
preferences, enabling them to tailor marketing strategies and create
personalized experiences.

19
Applications of AI in Market Research:

Image and video analysis:


▪ With the rise of visual content on social media and other platforms, AI-
powered image and video analysis tools have become invaluable for
market researchers.
▪ These tools can automatically analyse and categorize
visual content, detect brand logos, and recognize
objects, scenes, and emotions depicted in images or
videos, providing deeper insights into how customers
interact with visual media.
20
Applications of AI in Market Research:

Image and video analysis


Example: A travel agency can automatically analyse user-generated
content to identify popular destinations, detect visual trends, and gain
insights into customer preferences, enabling them to create targeted
marketing campaigns with captivating visuals.

21
Applications of AI in Market Research:

Voice and speech analysis:


▪ Voice and speech-enabled AI marketing research tools allow market
researchers to analyse and extract valuable insights from recorded
phone calls, customer support interactions, and voice-based survey
responses.
▪ NLP algorithms transcribe and analyse the audio
data, identifying key topics, sentiment, and
customer satisfaction levels, enabling businesses
to improve customer service and identify issues.
22
Applications of AI in Market Research:

Voice and speech analysis:


Example: Telecom companies can analyse customer call recordings to
identify key topics, sentiment, and satisfaction levels, enabling them to
enhance overall customer experience.

23
Applications of AI in Market Research:

Social media listening tools:


▪ AI-powered social media listening tools monitor and analyse
conversations on various social media platforms in real time.
▪ These tools can identify trending topics, monitor
brand mentions, track sentiment, and provide
valuable insights into consumer preferences,
behaviors, and emerging market trends

24
Applications of AI in Market Research:

Social media listening tools:


Example: Beverage companies, like Coca-Cola, use AI in market
research to monitor real-time conversations across various social media
platforms to track brand mentions and make data-driven marketing
decisions and engage with their audience effectively

25
Applications of AI in Market Research:

Chatbots and virtual assistants:


▪ AI-driven chatbots and virtual assistants are increasingly used in market
research to engage with consumers, collect data, and provide personalized
recommendations.
▪ Used by 80% of marketers already, these
conversational chatbots can conduct surveys, answer
customer inquiries, and capture valuable insights from
interactions, enabling organizations to gather data at
scale and improve customer engagement.
26
Applications of AI in Market Research:

Chatbots and virtual assistants:


Example: eCommerce platforms can use chatbots to make personalized
product recommendations, offer 24/7 support, and enhance customer
engagement, which drives sales and improves overall customer
satisfaction.

27
Applications of AI in Market Research:

Customer journey analysis:


▪ AI algorithms can analyse multiple touchpoints and interactions
throughout the customer journey to identify critical moments, pain
points, and areas of opportunity.
▪ By understanding the customer journey in detail,
market researchers can optimize marketing
strategies, improve customer experiences, and
drive customer loyalty.
28
Applications of AI in Market Research:

Customer journey analysis:


Example: A retail brand can analyse various touchpoints and
interactions across multiple channels to identify key moments in the
customer journey and optimize its marketing strategy to not miss out
on conversions.

29
Applications of AI in Market Research:

Demand forecasting:
▪ AI-based demand forecasting models leverage historical sales data, market
trends, external factors, and even weather patterns to predict future
demand for products or services.
▪ Accurate forecasting helps organizations optimize
inventory levels, production planning, resource
allocation, and reducing costs. It also helps boost the
customer experience, by reducing delivery times and
ensuring there is always stock for popular items.
30
Applications of AI in Market Research:

Demand forecasting:
Example: A consumer electronics company can use it
to balance the demand for products based on
historical sales data, market trends, and external
factors (like chip shortages). This allows them to
optimize warehousing and supply-chain costs while
maintaining suitable inventory levels.

31
Applications of AI in Market Research:

Concept testing and product innovation:


▪ AI-powered concept testing tools enable market researchers to test
and evaluate new product concepts or features before launch.
▪ Through advanced algorithms, consumer
feedback, and predictive analytics, these tools
help assess market acceptance, identify potential
improvements and guide product innovation
strategies.
32
Applications of AI in Market Research:

Concept testing and product innovation:


Example: Tech startups can gather consumer feedback, analyse
preferences, and predict market acceptance of a new product concept
to guide their product development team.

33
How AI Can Enhance Market Research

34
How AI Can Enhance Market Research

▪ AI can significantly streamline and enhance the market research


process through various applications.
▪ By integrating AI into market research processes, organizations can
enhance efficiency, accuracy, and depth of insights, ultimately
leading to more informed product management decisions.
▪ This strategic use of AI not only saves time but
also allows for a more agile response to changing
market dynamics.

35
How AI Can Enhance Market Research

Data Collection and Analysis:


Automated Surveys:
▪ Tools like Survey Sparrow allow for the creation of AI-driven surveys
that can gather data efficiently.
Web Scraping:
▪ Tools like Browse AI automate data extraction
from websites for competitive analysis.

36
How AI Can Enhance Market Research

Sentiment Analysis:
▪ AI tools such as Insight7 can analyze qualitative data from interviews
or social media to extract sentiments and themes, providing deeper
insights into customer opinions.
Predictive Analytics:
▪ AI algorithms can analyze historical data to
identify trends and predict future market shifts,
helping businesses stay ahead of competitors.
37
How AI Can Enhance Market Research

Competitive Intelligence:
▪ Platforms like Crayon provide real-time insights into competitor
activities, aiding in strategic decision-making.
Natural Language Processing (NLP):
▪ Tools like ChatGPT facilitate conversational
analytics, enabling researchers to generate
insights from unstructured data sources such as
interviews or focus groups.
38
Data Collection Using AI

39
Data Collection Using AI

▪ Integrating AI into data collection can significantly enhance the


efficiency and effectiveness of gathering information for various
applications.
▪ By employing these AI-driven strategies,
organizations can streamline their data collection
processes, improve the quality of their datasets,
and ultimately enhance the performance of their
AI applications.
40
Data Collection Using AI

Here are some key strategies and methods:


Web Scraping: AI-driven web scraping tools automate the extraction of data
from websites, allowing organizations to gather large datasets quickly and
accurately. These tools can filter out irrelevant information, focusing on
pertinent data points.
Surveys and Crowdsourcing: AI can optimize survey
design and distribution, making it easier to gather insights
from diverse populations. Crowdsourcing platforms can
also be utilized to collect data from a broad audience,
although care must be taken with sensitive information
41
Data Collection Using AI

Application Programming Interface(APIs): Leveraging APIs allows for


the automated collection of data from various online services and
databases. This method is efficient for integrating real-time data into
applications.
Sensor Networks: For industries like agriculture or
logistics, sensor networks can collect real-time data
on environmental conditions or asset locations,
which AI can analyze for actionable insights.
42
Data Collection Using AI

Automated Data Labeling: AI can enhance the accuracy and efficiency


of data labeling, a critical step in preparing datasets for machine
learning models. Techniques like active learning prioritize which data
points need human annotation, reducing workload while improving
quality.
Data Augmentation: When existing datasets are
insufficient, AI techniques can generate synthetic
data to expand datasets, ensuring diversity and
robustness in training AI models.
43
Data Collection Using AI

Natural Language Processing (NLP): Tools that utilize NLP can


extract insights from unstructured data sources, such as
customer feedback or social media posts, providing valuable
qualitative insights.

44
Competitive Analysis Using AI

45
Competitive Analysis Using AI

AI in competitive analysis refers to the use of artificial intelligence and


machine learning techniques to gather, process, and analyze data
related to competitors, market trends, and consumer behavior.
By leveraging AI, businesses can automate the
collection of vast amounts of data from various
sources, such as social media, websites, and market
reports. We will discuss some of its key features in
the next slide

46
Competitive Analysis Using AI

Key Features:
Automated Data Collection
AI tools can continuously collect data from various sources, including
social media, websites, and news articles, providing up-to-date insights
into competitor activities.
This process not only saves time but also enhances
the accuracy of insights, allowing marketers to make
informed decisions.
47
Competitive Analysis Using AI

Enhanced Insights:
AI processes large datasets to identify trends, consumer sentiment,
and competitor strategies, enabling businesses to make informed
decisions. Some of its benefits are:
▪ Improved accuracy in understanding market
dynamics.
▪ Faster response times to competitive actions.

48
Competitive Analysis Using AI

Product Analysis:
AI tools can assess competitors' product features, pricing models, and
customer feedback to pinpoint strengths and weaknesses. By also analyzing
competitors' marketing campaigns and sales strategies, businesses can
effectively benchmark their own performance.
This analysis enables organizations to refine their
product offerings and optimize marketing strategies by
leveraging deep insights into competitors' strengths,
gaps, and market positioning.

49
Competitive Analysis Using AI

Market Trend Monitoring:


AI technologies enable continuous tracking of market trends by
analyzing data from various channels. This includes monitoring social
media discussions, customer feedback, and industry reports.
By utilizing platforms like Brandwatch, Crayon,
Aylien, Exploding Topics, IBM Watson, and YouScan,
companies can enhance their strategic decision-
making processes and adapt quickly to evolving
market conditions.

50
Competitive Analysis Using AI

Forecasting Capabilities:
Predictive analytics powered by machine learning
algorithms can forecast future market conditions
based on historical data and current trends.
This allows businesses to anticipate changes in
consumer behavior and adjust strategies
accordingly.
Real-time insights help organizations adapt quickly
to market shifts, ensuring they remain competitive.
51
AI-Driven Customer Behavior and Market Segmentation

52
AI-Driven Customer Behavior & Market Segmentation
AI in Customer Profiling and Behavior Prediction:
Definition: Customer profiling involves creating detailed descriptions of
different customer segments based on their behaviors, preferences,
and demographics.
AI Applications: AI models analyze historical data to predict future
behaviors, such as purchase intent or likelihood to churn.
Benefits: Enhanced customer profiling leads to
improved targeting, increased customer loyalty, and
more effective marketing campaigns.
53
AI-Driven Customer Behavior & Market Segmentation
Using Machine Learning for Market Segmentation:
Definition: Market segmentation is the process of dividing a broad
consumer or business market into sub-groups based on shared
characteristics.
ML Techniques: Algorithms like k-means clustering
and decision trees are used to analyze large
datasets and identify distinct customer segments.
These techniques can uncover hidden patterns that
traditional methods might miss.
54
AI-Driven Customer Behavior & Market Segmentation
Using Machine Learning for Market Segmentation:
Benefit:
By segmenting customers more accurately, businesses can create
tailored marketing strategies that resonate with specific groups,
improving engagement and conversion rates.

55
AI-Driven Customer Behavior & Market Segmentation
Personalization at Scale Using AI:
Targeting the Right Customer Segments, AI enables dynamic
content generation and product recommendations based on
individual customer behaviors. For example, e-commerce
platforms use AI to analyze browsing history and previous
purchases to suggest relevant products.

56
AI-Driven Customer Behavior & Market Segmentation
Predictive Models:
These models forecast customer behavior by analyzing data such
as purchase frequency, product preferences, and cross-selling
opportunities. This allows businesses to engage customers with
personalized offers at the right time.

57
AI-Powered Product Development Insights

58
Leveraging AI to Identify Product Opportunities & Gaps

Market Analysis:
▪ AI tools analyze vast datasets to identify market trends and consumer
needs.
▪ By processing data from various sources, such as social media, customer
feedback, and sales data, AI can highlight unmet needs or emerging trends
that may present new product opportunities.
▪ For example: Netflix use AI to analyze viewing habits
and preferences, allowing them to develop original
content that caters to specific audience segments.

59
Leveraging AI to Identify Product Opportunities & Gaps

Opportunity Identification:
▪ Machine learning algorithms can uncover patterns that suggest
potential gaps in the market.

▪ For example, analyzing customer reviews may


reveal consistent complaints about existing
products, indicating an opportunity for
improvement or innovation.

60
Leveraging AI to Identify Product Opportunities & Gaps

Using AI for A/B Testing and Optimizing Product Features


▪ A/B testing involves comparing two versions of a product feature or design
element to determine which performs better. AI enhances this process by
automating the setup, execution, and analysis of tests.
▪ Tools like Evolv AI allow for continuous optimization, where multiple
variations can be tested simultaneously.
▪ This approach reduces the time needed for testing
cycles and provides clearer insights into user
preferences, enabling faster decision-making
regarding product features.
61
Leveraging AI to Identify Product Opportunities & Gaps

Predicting Product Demand and Customer Needs Using Machine Learning


Algorithms
▪ Machine learning models can analyze historical sales data, seasonality
trends, and external factors (e.g., economic indicators) to predict future
product demand.
▪ Accurate demand forecasting leads to better resource
allocation and minimizes the risk of overproduction or
stockouts.
▪ By leveraging customer behavior data, AI can identify
shifts in preferences or emerging needs before they
become apparent through traditional research methods.
62
Leveraging AI to Identify Product Opportunities & Gaps

Product Roadmap Creation with AI-Assisted Insights


Roadmap Development:
▪ AI tools can assist product managers in creating strategic roadmaps
by analyzing market trends, competitor activities, and customer
feedback.
▪ This ensures that the roadmap aligns with market
demands and business objectives.

63
Leveraging AI to Identify Product Opportunities & Gaps

Product Roadmap Creation with AI-Assisted Insights


Prioritization of Features:
▪ Machine learning algorithms can help prioritize features based on
predicted impact on user engagement and satisfaction.
▪ As new data becomes available, AI systems can
continuously refine the roadmap based on
changing market conditions or emerging
consumer preferences.
64
Case Study

In the next slides, we will explore how AI-powered marketing


research can be applied to product management, using Starbucks
as a case study to demonstrate the transformative potential of AI
in making data-driven decisions

65
Starbucks' Use of AI and Predictive Analytics

Overview:
▪ Starbucks has revolutionized its customer engagement and marketing
strategies by leveraging AI-powered predictive analytics and customer data
from its loyalty card program.
▪ By collecting and analyzing vast amounts of customer
data, Starbucks is able to make data-driven decisions
to enhance customer experience, optimize product
offerings, and increase sales.
▪ This case study explores how Starbucks integrates AI
and predictive analytics into its marketing research
and product management.
66
Starbucks' Use of AI and Predictive Analytics

Leveraging Loyalty Card Data for Customer Insights


▪ Starbucks’ loyalty program is one of its most valuable data sources,
providing rich information on customer purchasing habits, preferences, visit
frequency, and spending patterns. By tracking every transaction made with
loyalty cards, Starbucks gathers detailed data on individual customers,
including their preferred drinks, food items, and seasonal choices.
▪ This data allows Starbucks to segment customers into
various categories, such as frequent or occasional
buyers, and target each group with personalized
promotions.
67
Starbucks' Use of AI and Predictive Analytics

AI-Powered Customer Insights:


▪ Using AI, particularly machine learning algorithms, Starbucks can analyze
patterns and trends in customer behavior.
▪ Predictive analytics enables Starbucks to anticipate customer needs and
make personalized product recommendations based on past purchases,
weather conditions, time of day, and location.
▪ For example, a customer who frequently orders iced
beverages in the summer might receive promotions
for cold drinks when temperatures rise.

68
Starbucks' Use of AI and Predictive Analytics

Personalized Promotions:
▪ Starbucks uses predictive analytics to create personalized marketing
campaigns based on individual customer behavior.
▪ By analyzing loyalty card data, Starbucks can predict what a customer is
likely to buy next and send personalized offers through their mobile app,
email, or in-store notifications.
▪ For example, if a customer hasn’t visited for a few
weeks, Starbucks might send them a special offer to
encourage a return visit, such as a discount on their
favorite drink.
69
Starbucks' Use of AI and Predictive Analytics

Behavior Prediction Models:


▪ Starbucks has built sophisticated behavior prediction models that allow
them to forecast customer preferences and behaviors with a high degree
of accuracy.
▪ These models consider factors such as historical
purchasing data, current promotions, customer lifetime
value, and social trends to predict future purchases.
▪ The ability to anticipate customer needs not only
improves sales but also enhances customer satisfaction
by offering timely and relevant promotions.
70
Starbucks' Use of AI and Predictive Analytics

Customization:
▪ With the help of AI, Starbucks tailors its menu to match customer
preferences and local trends.
▪ By analyzing loyalty card data, Starbucks identifies popular products and
trends within specific regions or stores.
▪ Predictive analytics helps Starbucks optimize its
product mix by determining which items to promote or
introduce in certain locations, and which items might
need adjustments or removal from the menu.
71
Starbucks' Use of AI and Predictive Analytics

Inventory Management:
▪ Predictive analytics is also applied to Starbucks’ inventory and supply chain
management.
▪ By forecasting demand for specific products, Starbucks ensures that stores
are stocked with the right ingredients at the right time, minimizing waste
and maximizing efficiency.
▪ For instance, Starbucks can predict that more iced
beverages will be sold during the summer and adjust
its inventory accordingly to ensure availability across
stores.
72
Starbucks' Use of AI and Predictive Analytics

Customer Loyalty and Retention:


▪ Starbucks’ use of predictive analytics has significantly enhanced
customer loyalty by making each customer feel valued through
personalized experiences.
▪ The ability to predict customer preferences and
behavior has allowed Starbucks to boost
customer retention, leading to increased sales
and stronger brand loyalty.

73
Starbucks' Use of AI and Predictive Analytics

Data-Driven Decision Making:


▪ Marketing research at Starbucks is increasingly data-driven, with AI
and predictive analytics providing deep insights into customer
behavior, product preferences, and market trends.
▪ This data-driven approach enables Starbucks to
make more informed decisions regarding
product launches, marketing strategies, and
customer engagement initiatives.
74
Starbucks' Use of AI and Predictive Analytics

Key Takeaways
▪ Starbucks’ Success with AI-Driven Marketing Research showcases the
transformative role that artificial intelligence can play in marketing
research.
▪ By leveraging customer data to predict behavior,
personalize marketing, optimize product offerings,
and improve inventory management, Starbucks
has strengthened its competitive edge and
deepened customer loyalty.
75
Starbucks' Use of AI and Predictive Analytics

Key Takeaways
▪ This case study exemplifies how AI can enhance decision-making
and strategic marketing in the product management lifecycle.

76
Conclusion

▪ This module offers a comprehensive understanding of how AI can be


seamlessly integrated into marketing research to elevate product
management.
▪ By harnessing AI for more intelligent data
collection, deeper customer insights, precise
market segmentation, and competitive analysis,
businesses can refine their product strategies and
enhance decision-making.

77
Conclusion

▪ The Starbucks case study highlights how AI-driven marketing


research delivers critical insights across the product lifecycle, fueling
greater market success.
▪ In the next module, we’ll explore how AI is
transforming market research with advanced
tools and techniques, changing the future of
product management.

78
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79
Thank You

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