Market research solutions for modern retail
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Transcript of Market research solutions for modern retail
Market Research Solutions for Modern Retail
Ashutosh Tyagi Chief Marketing & Strategy Officer ‘Think As Consumer’ Website: www.thinkasconsumer.com Email: [email protected] Mobile: +91 9818328050
Market Research Solutions for Modern Retail
1. Usage and Attitude Study 2. Customer profiling and segmentation 3. Customer satisfaction 4. Mystery shopping 5. Store space designing and layout 6. Pricing research – price elasticity 7. Demand/ sales forecasting 8. Brand track 9. Advertizing testing
1. Usage and Attitude Study
Store visit behavior • Visit frequency • Visit motivations • Visit type (planned/ Unplanned) • Visit metrics: Time spent, amount
spent
Purchase behavior • Category/ brands purchased • Planned/ unplanned purchase • Purchases on Discount/ promotion • Response to in-store promotions
Attitude • Likes and dislikes with current
stores • Factors that drive traffic to
store • Attitude towards purchasing
products • Factors affecting purchase
decisions
2. Customer Profiling & Segmentation
Shopper profile & Segmentation • Who buys different categories/ what are the
different segments: • Demographic profile • Lifestyle attributes • Attitude to shopping
3. Customer Satisfaction Measurement
Customer Satisfaction Study • Assess satisfaction levels on various
attributes: • Quality of products • Range/variety of products • Pricing/ value for money • Convenience of location • Overall experience of shopping • Layout of the store • Ease of billing and payment • Behavior of staff • In-store communication /signages
etc.
4. Mystery Shopping
Mystery Shopping • Determine the quality of service in a
retail outlet. • Mystery shoppers provide a record of
their real shopping experience, such as : • time taken to get the attention of
a salesperson, • responses made to queries. • Behavior of staff, etc.
5. Store Space Designing & Layout Testing
Store Design & Layout Testing • Store hot spots and cold spots • Category complementarity / Adjacencies • Decision hierarchy and in-store triggers •Merchandise and Display testing
6. Pricing Research
Price Elasticity • Determine relationship between
discounts and sales for different product categories/ brands
• Use of different methodologies based on product category/ research objective • Gabor – Granger • Van Westendorp • Conjoint analysis
7. Demand/ Sales Forecasting
Demand / Sales Forecasting • By product categories • By brands • By stores • By price bands etc.
8. Retail Store Brand Track
Brand Track •Measure and monitor health of the retail
store brand • Brand awareness – recall/ recognition • Product category awareness • Brand experience & usage • Brand image • Advertising awareness
9. Advertizing Research
Advertizing Research • Ad concept creation • Ad creative testing • Cross media optimization • Ad campaign evaluation
For any support or more information, you could contact: Ashutosh Tyagi Chief Marketing & Strategy Officer ‘Think As Consumer’ Website: www.thinkasconsumer.com Email: [email protected] Mobile: +91 9818328050