Strategic Research
Strategic Market Research / April 15, 2017

What’s worked for one business may not be applicable to another, so that’s it is important to discuss business objectives and strategically research core areas of performance. As the name implies, strategic research has to do with ‘strategy’ – the long-term goals, challenges, priorities and plans of any enterprise. Strategic research is important because it helps organisations make decisions that impact the future performance of any organisation. Strategic research is the systematic procedures for gathering, analyzing new information by applying collected data to specific scenarios. While the definition of strategic research specifies a limited number of fields and disciplines, the idea in strategic research is to create a document that balances specificity with several high-level ideas. Strategic research enables organisations and enterprises to also balance priorities with flexibility. These are just a few of the benefits of strategic research: • Prioritise time & budget • Identify new opportunities • Synchronise marketing activity with key seasonal trends or events By setting the course with high-level strategic priorities and by providing a way to see the priorities turned into actions, organisations and businesses will be able to achieve excellence, mobilization and impact required by their mission and objectives. The strategic research plan…

Strategic Research: providing an insight into company’s strengths and weaknesses
Strategic Market Research / April 11, 2017

Strategic Research is an in-depth research helping companies differentiate from its competitors; assessing their own strengths and weaknesses and making the right organizational change for better market visibility and performance. Where does my brand stand vis-à-vis competition? What is its recall value and market share and where is it more popular? Strategic market research helps in answering these basic questions of ‘where the business is’ and ‘where it needs to be’. The market research helps companies understand what drives the market (people’s behavior, attitudes and environment)  and provides an insight into a company’s competitive advantage- as to where, how and when should the business compete. Strategic Research helps estimate a company’s brand value and customer loyalty towards it. One of the important aspects of Strategic Research is the Usage and attitude (U & A) study, which helps in identifying the factors related to usage of a product/service (its frequency) and attitude of customers towards the brand. U& A can have both quantitative and qualitative perspective and help find the best future scenario for planning a market strategy as per company’s objectives. Considering that brand image is very essential in today’s times, the strategic research helps develop and design a strategy…

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…

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…