Competition is so much higher now that it is almost unpredictable that which product may become a huge hit in the market while the other may not. But of course, one cannot simply rely upon the chances of the market trend and hence, it is important to carry different research analysis to get better predict whether a product to be launched will work out well or not.
There are a number of research analyses that are done today by various brands. Among these specialised research is something that is all about an extra hand over other research methods.
There are a number of levels or methods that take place under the Specialized Research.
Until and unless the product is not properly developed and strategically communicated, it is not going to grab the attention of the consumers. Hence, it is important to have a thorough check and analysis about the quality and other attributes of the product.
After the product, also it is necessary to check the attributes of the advertisement or the communication. If the communication about the product is not held properly, it is not going to reach out the consumers in the right way.
It may happen that the brand has come up with a great product, but it will still not be successful, if it does not have a proper usability among the consumers. In this regard, there are two methods of checking and these are:
- Evaluation of product prototype,
- Development of product prototype.
Shopper Behaviour Analysis
After analysing the product and the communication, it is also important to check the attitude and behaviour of the consumers towards this particular product. For this, it is important to check out some factors such as:
- Attitude and behaviour of the shoppers on premise,
- Retail mix evaluation.
Apart from these many levels and steps, there are many more other methods for analysis that take place in this research, such as ethnographic observations that consist of recording consumer behaviour in real time, consumer panels such as recent trend, quick reactions and others. Also audit of various parts such as the wardrobe, or the kitchen or any other thing is important to know the possibilities of the product in the market.