A lot has changed in the last few months with the unprecedented disruption of the COVID-19 virus and its impact on, well, everything at the moment.
Articles about our insight tools which shows how we can help businesses tackle certain problems.
What’s really happening at each stage of your customer purchase journey? Where can you tailor your message and choose your media to bring the greatest possible return for your marketing investment?
Uncertainty due to the COVID-19 crisis is having a big impact on consumers’ lives. So how do brands continue to learn and understand consumers, and find a way to identify opportunities for now and the future post-corona world?
We are living in an extremely fast-moving world and agile solutions are essential to keep track and remain competitive. Consumers today are increasingly erratic and much less predictable.
Poor product design can lead to a great innovation that no one uses.
There are several things which are crucial to pay attention to in the process of creating good product design, but the most common factors are aesthetics and ergonomics. Other factors might be materials, sustainability, and also the product’s packaging & assembly.
However, these considerations mostly come from the engineer’s or manufacturer’s perspective, and it’s not always the case that the consumer’s view is considered early on in the process.
Although design considerations may vary according to the type of products, consumers in different cultures have different priorities when it comes to product usage.
Take for example household appliances. In some countries, consumers might hold the safety features of a product in higher regard compared to other features. They might prefer a product which is not only easy to use but, most importantly, that is safe to use. On the other hand, in some other countries, the consumers’ number one priority might be hygiene. They might prefer a product which is easy to use and easy to clean compared to products with a lot of safety features.
Additionally, household size may also play a role in consumers’ buying decisions when it comes to home appliances. Consumers in countries with smaller household sizes might prefer smaller products.
Bottom line, there are a lot of things to take into considerations when designing a product. Pinpointing these considerations and getting the right answers for each of them could make a significant difference in creating a product that matters and successfully communicating the product’s value to the end-consumers.
Contact Nimrod to know more about our approach to gathering insights for product development.
Market entry and expansion can be challenging for even the biggest and most renowned brands. History is sadly littered with flops and failures, with reasons varying from a poor understanding of the competitive environment to go-to-market plans that miss the main chance.
Although reasons may vary, one of the recurring themes for failure is the lack of insight into the desired market. An in-depth understanding of which target group to aim for or which channel strategy to adopt is the key to much higher rates of return.
There are of course some key elements to consider when entering new markets such as the market size, market growth, consumer demographics, and competitors’ presence. However, there are some other things to consider such as:
- Cross-cultural dimension of the market
We can all agree that different markets have different cultures, even among neighbouring countries. Take for example the uncertainty avoidance index (UAI) for a comparison. A lower UAI indicates that the country is more accustomed to ambiguity and usually has fewer regulations.
Countries such as The Netherlands, Denmark, and Singapore with UAI under 55 are more open to try new products and brands compared to countries with UAI above 85 such as Japan, France, and Greece.
It’s crucial to take culture into account when selecting the desired market for your market expansion.
- Socio-economic environment in the defined market
Socio-economics is concerned with the factors that influence how a particular group of people behave within society, which also includes their actions and considerations as a consumer.
When selecting the desired market for your brand or product expansion, it’s crucial to understand the consumers’ purchasing behaviour. Knowing the right buying triggers and key decision-making criteria for each target group will make a difference in optimizing your brand and communications strategy.
How can we help?
As an international consumer insight specialist, we explore new markets and scope initial opportunities for your brand with a holistic view. Our specialty in conducting multi-market projects allows us to further compare various market profiles and to tailor differentiated market entry and expansion strategies for your brands. All the insights we generate are compiled into concise ‘market potential’ reports, for our client’s direct use.
Contact Nimrod to know more about our approach to analyzing market potentials.
When you walk into a supermarket and want to buy a product, what is the first thing you look at before deciding which brand to buy? The packaging, right?
Packaging is one of the most important branding elements as it communicates core values to shoppers. We believe great packaging fundamentally influences how consumers view your brand and can covey powerful brand elements.
In the competitive space of the supermarket or the cluttered environment of the retail display, standing out and triggering recall often make all the difference for a brand between heading to the till or staying on the shelf. However, sometimes creating the right packaging is not always so straightforward, and there are many variable to consider.
So, how can we help?
Our packaging design optimiser helps you identify the impact of your brand’s packaging and point-of-sale collateral within the consumer’s decision-making process. We identify the visual and messaging cues that consumers are looking for and determine the key criteria driving the final brand choice.
We evaluate your current product packaging, including exposure, importance, and performance of POS – aiming to offer fresh in-depth insights and practical direction to create optimal packaging that gets your brand noticed and attracts the interest of your consumers.
To find out more on how we can help optimise your packaging, please contact Nimrod.
Today’s innovation cycles are becoming shorter and shorter, as almost every industry feels the pressure to compete and bring new ideas to market.
As business landscapes are getting more competitive, there has never been a more important time to make your brand stand out. One way to do so is through media touchpoints and mix.
We understand that advertisers have an immediate need to understand the effectiveness of their spending in order to optimize budget allocations.
With our experience-point optimiser tool, we can help create the right media mix for your brand.
We analyze a brand’s consumer experience points and use it to pinpoint the timing when the brand buying decision occurs in the purchase cycle, as well as discover the contact points (the media) which have the greatest influence in the brand’s purchase cycle.
Not only do we analyze the traditional mass media that a brand uses, but we also go through all online and social media channels as well as other information sources – wherever consumers are exposed to your brand. That way, we generate a holistic overview of consumer engagement through the whole purchase journey.
Bottom line, this tool provides insights to optimise communication strategies using the most relevant media at the most suitable stage of a purchase journey.
To find out more about our full methodology on our experience-point optimiser, please contact Nimrod.
Interacting with trade partners, as opposed to simply transacting with them, can be a fruitful and valuable source of intelligence and insight to help grow business.
You might even rely on the high-involvement of your suppliers, retailers and installers for your products to reach your end-consumers effectively. For instance, if you sell heating systems, smart home devices, or other household appliances, consumers who bought your products will mostly need assistance from suppliers or retailers to install it in their house. Clear information, good communication and trust in a reliable partner are key. All finally influence the consumer’s experience of your brand and products.
Suppliers, retailers, and installers can also provide a valuable source of information for you to better understand your consumers’ pain points and to make product or service improvements that really matter for your end-consumers.
From the suppliers’ or retailers’ point of view, we believe that it is crucial to understand:
- End-consumers’ purchase motivations and preferred functions of your product
- End-consumers’ complaints about your current product
- Retailers‘ levels of satisfaction and barriers in selling your products and services
- Ways to influence your end-consumers’ purchase decision
Answering the questions allows you to build relationships effectively among your partners and increase your end-consumers’ satisfaction. However, sometimes it can be a challenge to find and reach out to the right party to find the answer.
We propose different solutions to meet (and even exceed) consumers’ service expectations as part of the total brand experience. To find out more about how we can help, please contact Dam.
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