Psychology That Drives Customers
Product development / June 20, 2017

It doesn’t matter whether the sale is happening online or offline or what channels are the marketing campaigners choosing, what strategy is being utilised. There will always be something common that will influence the psychology of a consumer. Human behaviour is usually driven by pleasure. People want to avoid being sad and look for means to be happy. An army man derives pleasure by fighting for the country because they associate the act with feeling of serving the nation.  So to be able to influence a customer in a marketing scenario, one needs to know what will influence them. To do so, one needs to be able to identify the target audience. The motive should be to appeal to the psyche of a customer – what exactly are they seeking and what they want to get out of it. By applying the right strategic mix, it becomes easier to reach the desired goal. And the convenience of the whole process enables the customer to associate with the brand because of the pleasure they achieved from whole exercise. This works not just on a psychological level but also at a neurological level ie the brain responds better to a positive experience…

Creating effective marketing strategy for the Indian market
Product development / April 10, 2017

Marketing strategies can help make or mar a company. A good marketing strategy draws its strength from market research and right product development, leading to increased sales and better competitive advantage. The purpose is to create value for everyone in the process chain– be it the customers, employees or the shareholders. The diverse and varied cultural and vast economic disparity of the Indian market presents its own unique challenges and opportunities. While many have tried entering this complex market, there are only few who have been able to make a long-lasting impression. Though the marketing mantra is customer satisfaction, creating a local and emotional connect, a USP, building trust, positioning and networking are key ingredients for success in the Indian scenario. According to H Igor Ansoff, the father of strategic management, the marketing strategies need to be built keeping in mind the matrix of Market penetration, Product development, Market development and Product / Market Diversification. The matrix helps identify the opportunities of offering existing and new products within existing / new markets and the levels of risks and opportunities associated with each. The market penetration involves selling more established products into existing markets, often by increased promotion or price reductions…

How New Product Research Services Help in Product Development
Product development / June 21, 2016

Hiring new product research service before a product launch is extremely important. It can help in testing usability, identifying modifications, finding new markets and minimising losses. Launching a new product is always a risky venture. There is the threat of aggressive competition, fear of product failure and the unpredictable buyer. Market Research is often critical in minimising losses and creating optimal chances of success. It gives one vital information that is then used to create the best market conditions. Testing ideas: The truth is that most new products do not work. What you think is exciting may never motivate your market. New product research services start with testing the very idea and then the prototype of the product. Respondents are given the outline of the product, its purpose, design and idea. Favourable response shows whether people are ready for the product and willing to pay for it. Evaluating customer behaviour: When product testing, market research does not rely on mere questionnaires. Instead, researchers test its actual usage with a focus group. User behaviour is studied while they are actually using the product. This can help in exposing flaws, while showing us honest user response. Do they find it easy to…

Qualitative Market Research Services: Getting Deep Into Research
Product development / April 4, 2016

Qualitative market research is about asking not just what people think, but why and how they think it. It is about getting an audience to talk in detail about their opinions, likes and dislikes. This means one gets to know the motivations, feelings and emotions about those opinions and values. The feedback, because of the process of enquiry, is in-depth. This is valuable when new products have to be developed or new marketing strategies and initiatives need to be developed. This helps any enterprise test reactions and refine the approach to the target audience. Qualitative Marketing Research studies complex phenomena within their contexts, and is helpful in New product idea generation and development Investigating current or potential product/service/brand positioning and marketing strategy Strengths and weaknesses of products/brands Understanding dynamics of purchase decision dynamics Studying reactions to advertising and public relations campaigns, other marketing communications, graphic identity/branding, package design, etc. Exploring market segments, such as demographic and customer groups Assessing the usability of websites or other interactive products or services Understanding perceptions of a company, brand, category and product So an agency that does QMR should be able to carry out and analyse bespoke market research on behalf of the business or…