Market research
Market Researchers in Surat: Understanding the Importance of Market Research
Market research is a critical tool that businesses and organizations use to gain valuable insights into their target audience, competitors, and prevailing market trends. As a trusted marketing consultancy company in Surat, our primary objective is to provide our clients with data-driven recommendations and actionable insights to make informed decisions about their products, services, and marketing strategies.
Our Marketing Research Services include:
- Conducting Surveys: We design and administer surveys to gather essential information about consumers, market trends, and other relevant data. These surveys help our clients gain a deeper understanding of their target audience and make informed decisions about their offerings.
- Data Analysis: Our expert team employs advanced statistical analysis and data visualization techniques to analyze the data collected from surveys and other sources. This in-depth analysis allows us to uncover meaningful insights and trends that are relevant to our clients.
- Recommendations and Insights: Based on the data analysis, we provide our clients with valuable insights and recommendations to enhance their products, services, and marketing strategies. Our suggestions may include guidance on product features, target audience segmentation, and effective marketing channels.
- Competitive Analysis: We help our clients understand their competition and develop strategies to differentiate themselves in the market. By analyzing competitors’ products, services, marketing approaches, and customer feedback, we identify opportunities for our clients to gain a competitive edge.
- Monitoring Market Trends: Our market research agency in Surat continuously monitors market trends, consumer behavior, and industry dynamics. We provide regular updates to our clients, empowering them to stay informed and make data-driven decisions for their business growth.
The secret behind the success of XUV 500 of Mahindra & Mahindra
Before launching the Mahindra XUV500 SUV in 2011, the company conducted extensive market research to understand the needs and preferences of Indian car buyers. The research included surveys and focus groups to gather insights on topics such as design, features, and pricing.
Based on the market research findings, Mahindra & Mahindra made several strategic decisions in the design and development of the XUV500. The company focused on incorporating features that were important to Indian consumers, such as a spacious interior, advanced safety features, and a powerful engine. The XUV500 was also priced competitively to appeal to the Indian market.
As a result of this market research and strategic planning, the Mahindra XUV500 became a popular SUV in the Indian market, with strong sales and positive reviews. The success of the XUV500 helped Mahindra & Mahindra establish itself as a major player in the Indian automobile market and expand its manufacturing capabilities.
Daag Acche Hain- how HUL bested P&G
In the early 2000s, HUL was facing strong competition from Procter & Gamble (P&G), which had recently launched its Tide detergent brand in India. HUL conducted extensive market research to understand why Tide was gaining market share and how it could better compete.
Based on its market research findings, HUL identified several key areas for improvement, including product performance, packaging, and marketing messaging. The company then made strategic investments in these areas, launching a new and improved detergent product called Surf Excel, with improved stain removal capabilities and attractive packaging.
HUL also launched a new marketing campaign that focused on the emotional benefits of clean clothes, using the tagline “Daag Ache Hain” (Stains are Good). The campaign resonated with Indian consumers, helping to position Surf Excel as a premium detergent brand and driving strong sales growth.
As a result of these efforts, HUL was able to regain market share from P&G and establish Surf Excel as the leading detergent brand in India. The company’s use of market research to identify key areas for improvement and inform its product development and marketing strategies played a crucial role in this success.