Between AI, Customer Insight, and Innovation – BKPM on a Field Trip Week in Munich

During the field trip, the students gained insights into a wide variety of companies and subject areas, ranging from traditional market research and analytics to digital transformation and AI. They visited the PSYMA institute as well as the companies PAYBACK, Allianz, and adesso.

Day 1: Industry Diversity in Market Research at PSYMA

The first visit was to the market research institute PSYMA. 

After an overview of the institute and its areas of focus, the group explored several very different industries in depth. The students gained insights into automotive market research as well as the finance, pharmaceutical, and healthcare sectors. Among other things, innovative tools and methodological approaches were presented, and it became clear what specific challenges market research faces in each industry.

To wrap up, the students were reminded of what makes market research so exciting: you engage with current social and economic issues, work closely with people, and can use the insights gained to influence real-world decisions.

Day 2: Market Research, Consumer Behavior, and Analytics at PAYBACK

On the second day, the group visited PAYBACK, where the market research, marketing, and analytics departments presented their work. Among other topics, the session covered how AI and synthetic data are now being used in market research and the impact it has on respondents when they learn that AI-generated respondents are also included in the survey. Another topic from the field of market research was the explanation of various methodological approaches for studying consumer behavior at self-checkout lanes.

In the presentations from the fields of data analytics and marketing, the focus was on data-driven campaign management. The sessions demonstrated how insights into interests, life situations, or purchasing behavior can be derived from existing customer data and utilized in marketing. 

Day 3: Insights into the Chief Customer Office at Allianz

Through several presentations at Allianz, the students learned how to achieve customer-centricity in an increasingly digital market and the role that market research and data-driven marketing play in this process, gaining a broad overview of market research activities across various phases of the product development process. A student from the program who had completed an internship at Allianz and is now writing her thesis at the company also gave a presentation, introducing the work with the Allianz communities.

Day 4: AI and Digital Transformation at adesso

On the final day, the group visited the IT service provider adesso. Following an overview of the company, there were several in-depth sessions on various current topics, such as digital experience, search engine optimization (from SEO to GEO) in the age of AI, and influencer marketing with its new trends and developments. The students also received valuable recommendations regarding the use of AI in their daily work.  

Conclusion

The field trip week provided many exciting insights into the practical aspects of market research and consumer psychology. It became clear how differently companies work with data, customer feedback, and AI, and what role market research plays in a wide variety of industries. At the same time, it became clear how important it is to truly understand consumers in order to develop successful products, services, and communication strategies. Many thanks to everyone at the companies who participated for these valuable insights into real-world practice!