Solutions

Brand Health Study

• Understanding the current health of the brand in terms of awareness, usage, trial, retention and brand perception in consumer mind – which are the brand building and consumers relationship in a competitive context
• Evaluating the performance of marketing campaigns (own brands + competition) and study its impact on the overall brand equity
• Understanding the key derivers of the own brand vis-a-vis competition brands to identify the opportunities and improvement areas for own brands

Customer Satisfaction Survey

• Measuring the overall satisfaction of customers
• Identify the derivers of satisfaction or dissatisfaction; clearly identifying the factor of importance and how bank performs on these factors
• Measuring Net Promoter Score for bank and its other competitors
• Measuring customer’s perception about company & competition by image tracking
• Determining the problem incidence and problem resolution rate in detail

Employee Satisfaction Survey

• Measuring the engagement level of employees
• Giving employees a voice for feedback
• Increasing employee engagement
• Identify the derivers of satisfaction or dissatisfaction
• Measuring customer’s perception

Ethnographic Study

• Innovating products and solutions, the objective might involve understanding the culture, practices, and needs for support within a particular workplace—for example, employees of a bank or a manufacturing plant.
• Innovating or improving processes, the objective might involve identifying problems or undesirable phenomena in some setting that could be fixed by some organizational or procedural change—such as misunderstandings that lead to mistakes in satisfying customer requests in contact centers.
• Settings, the open-ended objective could be to understand the rich culture and variety of tacit and explicit practices within a particular workplace—those of bank or manufacturing plant employees, for example.
• For activities, the open-ended objective might be to understand all tacit and explicit practices related to a particular role, practice, or function (such as contact center operations).

Market Size Estimation

• Entering a new market by evaluating whether a market opportunity merits investment
• Benchmarking against the competition to sustain in the market
• Set performance goals for company growth
• Determining where there is room in the market for growth
• Segmentation of a market enables refinement of a company’s strategies and goals by identifying the most promising, geographies, demographics, customer types or application areas

Mystery Shopping

• Monitoring and measuring service performance
• Physical evidence and team evaluation standards
• Identifying gaps in services
• Determining customer preferences

Product Concept Testing

Concept testing reshapes and refines ideas so they have greater potential for market acceptance. Specifically, concept testing:

• To find out our target consumers will make sense of the new product concept
• To uncover any adverse negative in parts of the product concept or in its totality
• To assess the motivating value of the product as conveyed by its concept description

Advertising Research

Ad Testing, also known as advertising research, is designed to improve advertising effectiveness. Companies often test their advertising with a subset of a target market before rolling out a campaign to a broader target market. The goal is to save money by optimizing both the message and calls to action before spending advertising dollars.

Ad testing allows you to:

• Determine which market segments to target
• Give input to ad creators to better understand the audience
• Make an informed go or no-go decision
• Evaluate the performance of an ad agency
• Get the highest ROI out of your ad spend

Ad tests work best when you have a clear expectation of the purpose of the ad. Some advertisements are designed to promote awareness, while others look to build a brand or drive behavior. Regardless of the intent, it’s important to define the goal of the advertisement before running tests.

Three commonly performed ad tests include:

Recall: Companies need to be memorable if customers are going to consider their products or services. In a recall test, participants see an ad and then wait a specified amount of time before being asked whether they are able to recall a particular ad or product.

Persuasion: A test for persuasion determines the effectiveness of an ad in changing attitudes and intentions. This test assesses brand attitudes before and after ad exposure. Participants first answer a series of questions before seeing the proposed advertisement. Then they take a second test to assess how the advertisement changed their attitudes and intentions.

Response: Many ads are designed to drive an action or a conversion. This is especially true of online businesses that rely on click-through and conversion to drive revenue. In a response test, participants receive an ad with a unique identifier (URL string, promo code, phone number, etc.) to track how well the advertisement performs in converting interest to action.

Segmentation Study

The market segmentation process has two steps. The first step identifies market segments by partitioning the total market into well-defined segments. A market segment is well-defined if is satisfies these four characteristics:

• It is measurable in terms of population size, purchasing power, and product usage frequency

• It is accessible – it can be reached and served by the brand's marketing capabilities

• It is substantial in market size to be worth developing a marketing program for it

• It is differentially responsive to one, some, or all of the marketing inputs as compared to other segments

Usage & Attitude Study

• To search for market and competitive opportunities that an existing of new product advantageously explore and eventually exploit

• To determine the brand's marketing health relative to competition, and to identify its correct marketing problems and the solutions to those problems

• To describe and profile the target market segment by its awareness, usage and purchase, practices, attitudes, and images of the product category, forms and brands as well as by its socio-demographics and psychographics

• To find out the brand's most effective product benefit positioning in the market and relative to competitors