Strategic Research – Take The Right Decision That Can Keep Up Your Brand Image

Any brand cannot take a decision of launching a product or service in a sudden haste. Often taking such quick decision can lead the company to big problems or also to a huge loss. This is the reason, proper planning and research is required so that the brand can come up with a product that is fruitful and that can reap profits for the brand. One such research conducted quite often by the big brands has been strategic research. Strategic Research is mainly a marketing strategy that helps the brands to analyse the situations well and then come up with the correct decision. The research is mainly conducted in three different levels and these are: Category level Product level Brand level   Category Level This level is mainly about the category of consumers who will be interested in having a look at the product to be launched. The level again is conducted with the help of a number of methods. Usage of the product is analysed along with the attitude of the consumers towards the product. One would also analyse the kinds of barriers in acceptance of the category. Most importantly, it has to be known that which segment of…

Tactical Research: an important enabler to reach your organizational goal
Tactical Research / April 18, 2017

Without effective tactical research, even your best strategic plans can fail. Tactical Research helps better understand competition, customer psyche and helps devise effective tactics to employ for maximizing reach and profitability. Strategic planning enables you to reach a goal, while tactical research helps you to use the best means available to reach the goal. Using effective tactical methodology, an organization can usher in great customer satisfaction and attain business goals using optimized financial resources in the most efficient manner. Tactical research is imperative for the success of any impactful strategy, as it helps you define and build the tactics that you can effectively use to capture the market and create a customer connect. Organizations should frequently undertake Tactical research as it is critical for success and it focuses on actions that have immediate benefits and maximize the available opportunities. Hence, it is extremely important to have a number of tactics lined up and choose the best option carefully researching the market so as to become a game changer. Tactical Research helps find defects or faults in the business plans, and gives us the in-depth knowledge of our plans, helping improve our strategy. By using information on market, users, competitors and…

India market entry strategy: devising your unique formula to make an impact
Market Research / April 5, 2017

India today is one of the most lucrative investment destinations with a high consumer spending capability and a favorable business environment necessitating a well-researched India-specific market entry strategy to make an impact. The growing economic influence of India coupled with a conducive work environment, availability of low cost skilled labor and increased spending power of today’s generation has seen many foreign players vying to make investments in India. But, before formulating an Indian market entry strategy, its uniqueness needs to be understood. With more and more cities coming under the Smart city projects, increased communication and improved infrastructure and integrated development, India offers a perfect investment opportunity. India also has a greater advantage as it serves as a gateway to other Asian countries thus in turn requiring a meticulously planned India market entry strategy. Experts point out that due to the sheer size and immense diversity in the region, language, culture and economic standards of the Indian population; one single India market entry strategy doesn’t fit all. In addition, the global business models and practices of multinationals cannot work in totality in the local environment. The need is for multiple marketing strategies as per the target groups with a deeper…

Qualitative Market Research: providing a better insight into consumer behavior

Qualitative market research helps you have an inside look in your consumer’s perception and behavior towards your product/brand, helping improve your future decision making leading to better return on Investments (RoIs). Qualitative market research is the unstructured or semi-structured way of data collection and analysis of a consumer’s lifestyle behavior, and in-depth research of ‘why’ a consumer behaves in a certain way. It helps in future decision-making of an organization. The research entails detailed interviews, participation observation, using innovation games, group discussions and case studies. Qualitative market research is often used before the introduction of a new product idea and its development; when exploring new markets/demographics/customer groups; to assess the strength and weaknesses of a particular product/brand; for product positioning and marketing strategy, company/brand perceptions or assessing the reaction to a mass communication campaign – giving the qualitative research a wider usage scope for any type and size of an enterprise. Due to complexity of data, Qualitative research uses small group of people with similar set of characteristics (like backgrounds, attitudes/nature and demographics) and a predetermined topic. But organizations should be careful to as qualitative market research is more dependent on the skills of the researcher. Considering that there is…