After a new product has been introduced,
the work has only just begun. Managing brands or products
in today's fiercely competitive and ever-changing markets
is a major challenge. Success depends on having accurate
and timely market intelligence and consumer insight.
It is imperative to closely monitor
the performance of your product versus the competition,
to understand how consumers make choices, and to gauge
their satisfaction with those choices. This enables
you to extend your product's life cycle, capitalize
on new opportunities, and respond to competitive challenges.
As a provider of custom marketing
research solutions since 1973, MRSI specializes in product
development research and our experienced marketing researchers
will partner with you to guide you through this challenging
product management step.
In this step MRSI can help you:
We understand the marketplace is dynamic,
and can design a marketing research program to help
you respond to market changes and ensure the sustained
growth of your product.
Understand Product Users
and Nonusers with Qualitative Research
Qualitative
research is an essential tool in understanding
product acceptance. MRSI uses focus groups, mini-groups,
and in-depth interviews, as well as advanced query techniques,
to deeply probe how consumers feel about your product
compared to competitive offerings.
Conducting qualitative marketing research
among users and non-users can be very revealing. In-home
visits can also show you how consumers actually use
the product in their homes, and offer interactive learning
opportunities.
Learn
more today!
Gain Insight at Point-of-Purchase
In-store
(point-of-purchase) research is particularly
valuable after product launch. The moment of purchase
is the most critical point in the entire marketing cycle.
It is when a shopper best recalls why they made a particular
brand choice. All of the imagery perceived for the category,
your product, and your competitor's product is top-of-mind
at this moment.
Point-of-purchase research also helps
focus attention on the package, which can be the pivotal
factor in a product's success or failure. Many other
variables converge on the store shelf to make it an
ideal laboratory for truly understanding consumer behavior.
Learn
more today!
Reassess Your Market
Many category assessment studies conducted in the Market
Understanding step are appropriate to repeat
in this step. Your product launch has impacted the market
and may have dramatically changed the competitive landscape.
These effects need to be fully understood to manage
the brand for maximum sales and profit.
MRSI helps you gain a thorough understanding
of your market and your target consumers by designing
a custom marketing research program that will likely
combine qualitative
insight with quantitative
methods. Key types of studies include:
- Habits & Practices
- Attitudes & Usage
- Customer Profiling
- Brand Image
- Purchase Drivers
- Segmentation
A benefits & barriers study can also
be conducted for your product. This identifies key barriers
to trial of your brand and reasons for switching to
another brand. It also defines the relationship between
trial and repeat purchase, key drivers of product choice,
product substitution, and source of volume. MRSI provides
an in-depth analysis of how consumers perceive your
brand and competitors using state-of-the-art data mining,
mapping, and modeling techniques.
Learn
more today!
Keep Your Brand On-Track
with Tracking Research
Tracking studies provide a true indicator of
brand health as your product moves through its life
cycle and are essential to understanding your product
category, how your brand fits, and how these change
over time.
Tracking a product at the introductory
stage or a major point of change such as a new advertising
campaign, a product restage, or a new formulation, is
critical to long-term success. MRSI will design a custom
tracking program for your product that tracks the right
information at the right time, either via
phone or our Online
iN-Site Internet interviewing system.
A well-designed tracking program allows
you to:
- Monitor the success of changes in your product or
marketing strategy
- Identify and correct problems early
- Formulate strategies to fine-tune your product,
image, and marketing program
There are two types of tracking research,
continuous and point-in-time (at regular intervals or
waves). A continuous program offers advantages such
as the ability to always know what is happening with
your brand and to do "true trending" of the customer
attitude or behavior.
MRSI's On-Track program tests large
volumes of data for change, and generates an "exception
report" to identify only significant changes. Continuous
tracking also monitors for potential brand "wear out"
where consumers may begin to switch brands.
Key measures may include:
- Brand and Advertising Awareness
- Advertising Recall
- Brand Usage
- Brand Satisfaction
- Brand Image
The questionnaire can be set up as
individual modules to address category nuances or new
issues. This type of modular system is ideal in a continuous
tracking system because relevant new product information
can easily be inserted.
Learn
more today!
Maintain Satisfied Customers
Customer satisfaction measurement (CSM) may be included
in the tracking program, or assessed more in-depth in
a separate study. This usually begins with a qualitative
study that identifies key drivers of satisfaction, dissatisfaction,
and customer retention. The quantitative
study then measures these variables and how they interact.
MRSI also classifies your customers,
and those of competitors, as secure or vulnerable and
profile each group. The needs of vulnerable customers
are not being fully met, and they may switch to a competitor.
On the other hand, vulnerable customers of your competitors
are prime for capturing, if you can better fulfill their
needs.
In a tracking study context, MRSI
recommends a key measure of satisfaction be selected
to use for possible follow-up purposes. CSM tracking
research gives consumers an opportunity to voice their
dissatisfaction with a brand's performance.
We think it is important to develop
a system that enables corrective action to be taken.
Our ALERT service notifies you if we encounter a dissatisfied
customer. Specific satisfaction criteria can be inserted
into the survey, which if met, triggers a final survey
question asking consumers if they would like someone
to contact them to discuss their problem.
Learn
more today!
Maximize Promotion Effectiveness
Your marketing program may include specific promotions
such as coupons, sampling, or print ads. MRSI is skilled
at designing marketing research that measures the success
of these programs. The marketing research usually includes
a pre-wave (before the promotion) and one or more post-waves
(after the promotion). Key measures include:
- Awareness of the promotion
- Product trial
- Purchase intent
- Usage behavior
The results can be used to fine-tune
your ongoing marketing efforts.
Learn
more today!
Why MRSI?
Clients tell us it's our comprehensive
capabilities, proactive
client service, and ability to consistently
provide accurate,
actionable results that set us apart. If you've
used our services before then you know you can count
on us to deliver the same quality results throughout
your entire product development process. If you're new
to MRSI consider this: Since 1973, we've delivered on
our promises. That fact is best reflected in our clients'
loyalty, with long-term partnerships dating back to
our founding and referrals from satisfied clients generating
the majority of our new business.
Contact Us
For more information on how MRSI's product development
research services can help you achieve product success
call 513-579-1555 or use our online form to quickly
request
additional product development information right
now!

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