Brand research assists the marketers to understand about their presence in consumer mind, how the brand is associated and the consumer overall attitude to the brand. It covers different stages of a brand, which includes brand creation, development, management, refinement and abolition of a brand. Our brand research helps our clients to understand how the brand is responding in the dynamic market, identify any shift in consumers’ perception, the price premium, brand positioning and repositioning strategy, reaction to change in price, product or packaging, monitor the change is demand with reaction to own and competition strategy. Through brand research we help our clients to achieve competitive advantage through insight based ideas and recommendations on product, service.
Customer Satisfaction Survey:
A customer satisfaction survey is a type of survey conducted among own customer vis a vis competition customer to understand the satisfaction level on selected attributes on the products or services already consumed or had an experience within a specific time period. It helps businesses understand what their customers think about their products or services, their brand, and their customer support. Customer satisfaction surveys supports the companies to identify their strength and weakness and allow them to make strategic improvement. It also helps them to conduct a industry benchmark and understand their position in terms of their products, services or customer support.
At OrQuest, we design customer satisfaction surveys in a way, that it helps our customer to understand the experiences of individual users at granular and address their concerns. We run some advanced statistical analysis to understand the derived importance of individual attributes and recommend the improvement or retention strategy to our clients.
Product test is a process where the consumers are supplied with newly developed product or prototype of product, the consumer use the product instantly for some time and report their reactions to it. Prior to developing new product, client often wants to develop or test several concepts. Some cases, the client wants to capture consumer feedback on new or repackaging. Whole offer test is a process where the consumers are exposed to the concept, packaging and product as a whole. In case the products can be consumed instantly, OrQuest generally conducts product test through Central Location Test (CLT). The consumers are brought to a central location, exposed to the product and feedback on the product is collated immediately. In case the product is required to be tested in natural condition or needs to be consumed for some time, then the product is placed at home and feedback is collected after few days. Our product test helps the clients to launch the winning product and also helps to understand the new product is at par or better or worse than completion product available in the market. Based on the survey results, our client often decides to launch a new product and improve the product as required before launching it.
Pricing research is a research method which uses research techniques to measure the impact of change in prices to the demand of any product and also to determine the optimal price for new products. For pricing research, OrQuest used following open source models.
- Gabor Granger technique
- Price Sensitivity Monitor (PSM)
- Conjoint Analysis
- Brand Price Trade-Off (BPTO)
Through pricing research we help our clients to make pricing strategy decisions. If the client wants to launch any new product, our pricing research help them to determine the optimum price for their product. If our client is planning to change prices, we help them to understand consumer reaction to the change and help them for appropriate pricing for their consumers.