Research & Strategy
Before you hit the competition on the face, get ready! A research conducted by us can help you create an effective business strategy, Launch a new product or service, fine tune existing products and services and expand into new markets. It can be used to determine which portion of the population will purchase your product/service, based on variables like age, gender, location, income level, attitude & beliefs. Through an effective research we help you understand the current market trends, analyze your competitors, find out how consumers talk about the product/service in the market, recognize which needs are important and if they are being met by current products, and thereby developing a strategy that sells your product.
1. Market Entry Strategy Development
We provide a detailed and overall understanding of the market and help in strategic decisions making. Various modules that can be identified as our strength areas include:
■ Demand Estimation
■ Mapping competition
■ Price mapping of competing products
■ Entry routes to market
■ Trade Practices
■ Competitive Communication
2. Marketing Consulting for New Product Development
We provide exhaustive consulting regarding launch of new products by estimating the demand and acceptability of the new products. The insights provided by us help clients to modify and enhance the product and the marketing strategy to suit consumers' requirements.
■ Concept Test
■ Brand-Name Test
■ Product Benchmarking Test
■ Blind Product Test
■ Package Design Test
■ Price Sensitivity Research
■ Feasibility and Risk Management Studies
3. Consumer Behaviour Studies
We use both quantitative and qualitative techniques to provide a complete understanding of the consumer motivations for choice and usage of the product/brand, various user segments and the perceived benefits of the product.
■ Usage and Attitude Study
■ Segmentation Studies
4. Brand Health Studies
Comprehensive brand tracking studies include:
■ Consumption and purchase habits of the product category
■ Awareness and trial of the brand under consideration
■ Motivators for the trial and Satisfaction with the brand
■ Purchase Intent of the brand
■ Position of the brand relative to its competitors
■ Advertising awareness and impact of ads
■ Image of the brand
■ Key areas of improvement in customer contact
■ Brand/Image indications which can be used to leverage Strengths of the brand
■ Critical sales incidence
5. Customer Satisfaction Studies
ICMR provides an exhaustive customer satisfaction studies to understand the expectations and needs of the consumers. We measure the level of satisfaction for a specific product or a service and identify the gaps between expectations and the experiences and in turn help the clients to raise their offerings for gaining higher level of consumer loyalty. Our methodologies include:
■ Customer Delight Sc ore
■ Overall Customer Satisfaction Index
■ Intent to Recommend the product
■ Loyal Customer Vs. Disloyal Customer profiles
■ Gap analysis to identify problem areas
■ SWOT analysis for the product
6. Corporate Image & Brand Positionong Studies
■ Corporate Image Studies
■ Value Mapping
■ Brand Mapping
■ Brand Positioning
7. Perception Analysis or Consumer Psyche
■ Providing insights about the consumers' perception and to design stronger and compelling selling propositions based on the analysis.
■ To identify consumer's motivational factors.
■ To reach the target audience with more focused strategies.
8. Mystery Shopping
For businesses to gain improved customer insight into how the customer service related functions of their business are performing, we conduct mystery shopping. A team of specially oriented mystery shoppers or spotters is sent to 'act1 as shopper* to legitimately shop in return for some combination of cash, store credit or purchase discounts. Instructions to mystery shoppers can include a script of behavior, questions to ask, complaints to give and purchases to make. Then the observations are recorded such as the time taken to receive attention or service from an employee, the quality responses given to questions etc. The information gathered leads to better performance management and improved service initiatives.