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Case Study: Online Consumer Behavior
Study for a Market Research Firm

Quick Facts

  • Solutions and Services :

    End-to-end
    MR Operations
    Automated charting
    Report writing

  • Industry :

    Financial Services

  • Organization Size :

    Emerging MR firm

  • Country :

    25 geographies

Summary

The market research firm provided consumer insights and trends which were used to formulate strategy. The quality of data among the right audience along with nature of insights ensured that issues were addressed meaningfully.

Business Challenge

Some of the research challenges faced in conducting the study were as follows:

  • Scope of work increased by 10% but client wanted to improve overall speed of delivery by 15%
  • End-to-end research coordination/ logistics across 25 countries located in various regions
  • A total of n =12,500 interviews were conducted online and face-to-face

Our Solution

Annik provided effective solutions for the client:

  • Enhancement of quality of sample through digital finger printing
  • Reducing the manual process time through automated charting
  • Senior researcher worked on insights with minimum back and forth
  • Project management across service lines and integrating these

 

Results & Benefits

The study results helped in understanding:

  • Changes in online consumer behavior
  • Emergence of online shopping
  • Trends in the world of e-commerce
  • New trends in the digital marketplace

More specifically,

  • Deliverables were submitted before the targeted date committed to the client
  • Quality of output was noteworthy since stringent standards were adhered to

Value Proposition

  • The client kept updated at every stage of the project through regular communication
  • Any concerns of the client were addressed promptly providing steps to mitigate these
  • The quality of inputs (e.g. Data) as well as outputs (e.g. Tabs)were monitored closely

 

Case Study: Data Quality Management
solution for a Research & Advisory Firm

Quick Facts

  • Solutions and Services :

    Sample
    Quota Management
    Programming
    Digital Finger Printing

  • Industry :

    Consumer electronics

  • Organization Size :

    Top 10 in category

  • Country :

    16 geographies

Summary

Advisory firm creates industry reports using quality data which is of utmost importance. Obtained the right mix of respondents in line with census representation and collected data in a timely manner despite multiple vendors which led to a saving of 35 per cent.

Business Challenge

  • Taking a representative sample for the study in markets with strong and weak internet penetration
  • Fulfilling sample quotas to ensure consistency of respondents across waves

Our Solution

The study was conducted online in such a manner that the sample was representative of the entire country. This issue was kept in control by implementing stringent quotas in the study.

  • Regional quotas as well as age, gender and income quotas were set
  • The fulfillment of quotas was monitored closely
  • In most markets only online sample was taken
  • For two markets the online sample was blended with face-to-face
  • International quality standards/ processes were adhered to

Results & Benefits

The study provided data on the following aspects:

  • Devices connected to the internet
  • Type of content watched and frequency
  • Reasons for using/ not using internet-enabled devices
  • Importance of features of an internet-enabled devices
  • Intention to purchase internet-enabled devices
  • Reasons for wanting to/ not wanting to purchase
  • Clean data without any issues delivered in the desired format to the client across markets and waves.

Value Proposition

  • Timely delivery
  • 35% Savings
  • Hassle free Project Management
  • Online reporting through Survey Progress Monitor

 

Case Study: Concept testing for a leading Home Appliances company

Quick Facts

  • Solutions and Services :

    End-to-end
    Market research
    Consumer Insights

  • Industry :

    Home Appliances

  • Organization Size :

    Leader in chosen category

  • Country :

    India

Summary

The consumer appliances company launched new models of microwave ovens with the features recommended by the research findings. It has regained lost market share and retain its leadership position. Inputs for strategy relied on recommendations of which concepts to go ahead with.

Business Challenge

The client is facing a strong challenge for the microwave ovens business with competitors gaining significant share through competitive pricing of their models.

Our Solution

Provide incisive and path-breaking insights to help the client with the future strategy of their brands that would give them an edge over their competitors.

 

Results & Benefits

  • Measuring the level of acceptance of the test concepts among the target segment
  • Assessing reactions of the concepts on an overall basis and on specific metrics like believability, relevance, uniqueness and purchase intention
  • Identifying the winning concepts to be taken forward for further execution/ implementation
  • Evaluating the price range that consumers are willing to pay for the features above the base product price
  • Understanding the triggers for purchase considered prior to purchasing
  • Assessing the relative importance of these features to consumers
  • Suggesting the improvement areas in the features being proposed by the client

In general, clear preferences and suggestions for further improvement were highlighted for each of the concepts providing a way forward for launching the concepts with a strong potential.

Value Proposition

  • Timely completion of the study
  • Research design in sync with the client’s complex requirements
  • Insightful conclusions and recommendations

 

Case Study: Market sizing for an apparel brand study

Quick Facts

  • Solutions and Services :

    End-to-end market research
    Volume estimation
    Competitive analysis

  • Industry :

    Apparel

  • Organization Size :

    Top 3 in the category

  • Country :

    India

Summary

The apparel company known for its workmanship and high quality of products wanted to be able to assess the current market size. The results from the study facilitated future strategy including launch of new products catering to different market segments.

Business Challenge

  • For this category, a large proportion of sales is coming from unorganized retail
  • Underestimation of the market forecast in the past done by another research agency, therefore needed a methodology which would predict accurately
  • Given the client’s budget considerations, there was a need to optimize the sample size: so that sample size is adequate without being wasteful

Our Solution

  • Forecasting methodologies customized as per study requirements
  • Approaches used the retailer and consumer routes to cross-check
  • Sample size optimized with an accuracy of ± 10% accuracy level
  • Results reflected market reality more closely

 

Results & Benefits

The study answered the following relevant issues: consumption/purchase patterns

  • Interaction within the sub-categories
  • Interaction within various brands for each sub-category
  • Expectations from the category/ sub-categories/ brands
  • Current stocking patterns across sub-categories/ brands
  • Aspects which drive business for the category
  • Identifying the triggers and motivators for buying at the consumer/ retail levels
  • Forecasting the market size nationally and for each of the business regions

The key benefit from the study included:

  • Accurate market sizing using a robust methodology with estimates being closer to the actual
  • Cost savings/ advantage to the client

Value Proposition

  • Customized modeling relevant to the situation (not a “one for all” approach)
  • Complex logistics across several fieldwork locations managed seamlessly
  • Accuracy levels of ± 10 per cent in line with market reality and expectations

 

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With a phenomenal change taking place in the dynamics of the retail industry, almost every leading Retail company realizes how indispensable effective data management and advanced analytics are for their dynamic industry. They are always searching for the means to effectively exploit the delicate and significant opportunities in this ever-growing union of Big Data and Technology, which once converted into conclusive insights, can empower every resource within their organization to make smarter, faster and even more accurate decisions.

 

In today’s digitized world, Retail companies are constantly facing escalating operational costs, rapidly growing competition, slow growth, declining profit-margins and tech-savvy shoppers. The key to their survival and maintaining sustainable operational costs continuously requires innovative strategies, perspective and perseverance.

 

The key issues that the Retail industry needs to deal with in today’s digital world, for developing a competitive-edge are:

  • With the customers swiftly accepting digital technology, they have become a crucial-factor affecting Retail industry. With the amount of available data growing exponentially and the ever-increasing customer expectation to have even more data around products, data management has become a priority. Progressive Retail companies are starting to embrace PIM and MDM solutions to supplement or even migrate their legacy data repositories.
  • Deriving critical and actionable customer insights from the rapidly growing data silos has become imperative. But nowadays, leading Retail companies are actively engaging in Predictive Analysis to understand customer behavior and underlying futuristic trends.
  • Immaculate Inventory Management is the way to go for the Retail industry. Leading Retail companies are always looking out for ways to maximize their inventory and ensure that its’ accessible across all their sales-channels and customer touch-points.
  • Technology is being taken to the next-level with the rapid and constant innovation in the Retail industry. However many of the Retail companies are late-adopters and their IT-teams are struggling hard to accept this challenge. If a Retail company has to survive in this cut-throat competitive market scenario, not only just data-driven insights but also cutting-edge technology will be a key-weapon in its armory.

We at Annik, provide solutions that focus on addressing the key-issues across the complete gamut of value-chain, varying from suppliers till customers, so that our clients can effectively compete in this challenging environment. We collaborate with world’s leading Retail companies to enable change through insights and technology. Our teams of experts are able to create actionable insights for the most-critical business issues in this space. We help companies attract, manage and retain profitable customers by applying a wide-range of Advanced Analytics offerings, efficiently tailored for each business need.

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Testimonials

It was good to receive reports within the timeline suggested by us. The team was very responsive. We were provided with local insights which helped us understand the unique data patterns seen in some countries

- Research Director, Luxury Products

Appreciate the extra help to ensure the best information. Please thank the Annik DP team for the efforts they put in to get this data back to me

- Head, Consumer Insights

Annik took care of our requirements which were pretty complex since each respondent had to evaluate all 13 product feature concepts. Also, recruiting users who regularly cook food in microwave ovens, is not so common

- Marketing Manager
Appliances Division

It would be a pleasure to work again with Annik. Insights provided helped in portfolio planning for the next fiscal

- Marketing Manager
Apparel Division


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