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: ashutosh@thinkasconsumer.com 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: ashutosh@thinkasconsumer.com Mobile: +91 9818328050