MCG, in an organized effort, to gather information about target markets or customers, implement its own proprietary model of micro analysis which is holistic and whole encompassing when developing a new market. In our research one of the main underlying factors is maintaining competitiveness over competitors by identifying and analysing the needs of the market, the market size and the competition. Generally, market research techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data; but we, at MCG, ensure the Primary methods dominate in our fact finding missions including social and opinion research. We systematically gather and interpret the information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight and support decision making. We have designed a unique research model – which looks at a complete journey, of the product, and development cycle, of an organisation, in India; and a unique methodology – combining classical research techniques with the analytics; in order to capture the last mile information, which is ultimately reflected in the success of our clients.
MCG market research model consist of three core pillars – Demand / Positioning / Strategy which is further bifurcated into our proprietary 3P / 3C / 3R / 3S mapping. When we combine these two divisions i.e. our core pillars with the sub-bifurcation we come up with a matrix primarily providing 3 main conclusions: –
- What to sell?
- Where to sell?
- How to sell?
‘What to sell’ including whether we have the right demand for our product, in the target market, or not? In order to provide a clear market picture we touch upon the following key areas: –
- Price points customers are willing to pay? Market share vis-à-vis different price points? Maximum price ranging? Pricing strategy? Relative market influence.
- General competition? Competitor strategy & profiling? Their business strategy? Their offerings? Their market share – region & product wise? Their distribution? Their suppliers & customers? Their recent activities & initiatives?
- Risk factors affecting property, income, liability? Risk factors due to socio-political outlook, local competitive advantage, workforce, legal apparatus, bureaucracy, market developments?
- Surveying the responses of key players like government officials, industry experts, manufacturers, distributors, wholesalers, retailers and the end consumer; through authenticate sources
‘Where to sell’ refers to the right bracket to place ourselves in order to reach the right customer at the right price. Some key areas we focus upon for this purpose are: –
- Product positioning? What products customers want? Who is willing to buy? What packaging, standards & licencing? Product protection?
- How to reach the customers efficiently? What are the industry practices? Whether direct or indirect channel? Channel partner profiling?
- Regional mapping of the customers & industries? Their concentration? Key market location? Customer locations? Geographical stability for industrial set up? Regional connectivity & infrastructure?
- How to structure the stakeholders like distributors, wholesalers, retailers? Structuring sales force? Structuring the key accounts? Structuring the after sales?
‘How to sell’ refers to the key strategy inputs to finally deliver the final product to the end consumer. It is an outcome of culmination of all the strategies included hitherto. Some key areas we focus upon for this purpose are: –
- Who is purchasing what? How often? Where? When? How much do they spend? Platform of purchase?
- Who are the key customers? Their socio-economic profile? Their spending power? Their price sensitivity? Customer service? How to offer them best service & retain them? Right marketing communication?
- Resource mapping – Human Capital, Technical, Monetary, Time; for a successful market entry & development.
- Sales expectations, possibilities and opportunities? Sales leads? Sales partners? Sales feedback? After-sales services? Sales force management?
We always provide a customized solution to our market entry research as we believe each & every organization is unique in its values, goals, product & services, budgetary allocation and its nature of conducting business. We edit our deliverables in a way that our clients don’t have to spend much and only the required set of knowledge is shared, with utmost clarity. Let us know what you have in mind and we’ll be more than happy to serve you.