Insight, the oldest fair at IIM Ahmedabad, boasts of an illustrious history spanning over 26 years. With the passage of time, Insight has become an integral part of the IIM A culture and an annual event compulsorily attended by all marketing enthusiasts. The fair is generally held in the month of September and is a 2 day long affair on the IIM Ahmedabad campus.
The strength of Insight lies in its innovative market research methodology, whose benefits far outweigh those of traditional questionnaires and run-of-the-mill survey methods, in terms of providing in-depth insights into the psychological factors underlying consumer behavior. At the core of Insight lies the preparation and execution of market research plans by IIM A students for their corporate clients.
The process comprises the following parts:
The client provides project teams with an initial brief that describes the problem.
The client then selects the most promising research proposals out of several submissions by various project teams.
The client coordinates with and provides further details to the selected teams, which then refine and develop the research plansThe project team then designs interesting games which discreetly capture consumer responses to provide an insight into the factors that matter in making any decision.
At the fair, thousands of consumers come down to the fair to enjoy and have fun. Students spend their time keenly tracking consumer behavior and responses while the latter enjoy the games, the food and the general ambience of Insight.
After the fair, the teams apply their knowledge of marketing principles and market research to analyze the collected information and derive useful conclusions about consumer behavior.
The teams also compete among themselves for the best project award. Finally, the clients are presented with a summary of the research findings.
The end of the interaction is a solution to the client's specific needs, along with a methodology that serves as a framework for developing solutions to similar problems in future.