Clients often come to us with an underlying need to understand evolving market trends. In today’s disruptive world – where competition is increasing and technology is redefining how we behave and consume – the answer invariably lies in the changing needs of customers. It is becoming increasingly challenging for companies to assess what customers really want without listening to them.
The success of any business lies in understanding the customer psyche, needs and expectations. More so now than ever before, it’s imperative to interpret that need which is not overtly visible, but plays a role in the customer’s decision-making process and decides the fate of a company’s product or service. This is equally relevant in both B2B and B2C scenarios.?
Customer needs differ by country, culture, aspiration and product category. One size cannot fit all when it comes to Voice of Customer studies. Yet we still find many companies insist on standard templates, and scores that hide more than they reveal. Maybe that’s because VoC is more often done for compliance, rather than to derive real insights.
Do have a look at our case study about how the findings of a user perception study helped our client (an automotive component manufacturer) successfully recalibrate their marketing plan.
|User perception study helps an auto component manufacturer re-design their product strategy
Our client, a leading automotive component manufacturer, supplies cutting-edge technology products to 2- and 4-wheeler OEMs in India. They had introduced a new engine component for 2-wheelers that offered better mileage, superior engine performance and lower emissions.
Despite the advantages, the product did not get a lot of traction in the Indian market.
– What did OEM dealers and riders think about their product?
– What were their purchasing criteria?
– Were they concerned about the technology?
– What was a fair price point?
– Were there differences in user perceptions and purchasing criteria by region?
ValueNotes devised an extensive, pan-India face-to-face survey to understand user sentiment. Over 1600 quantitative & qualitative interviews were conducted with two-wheeler riders and OEM dealers.
Find out how our insights helped our client successfully recalibrate their marketing plan
If there is anything specific about competitive intelligence you would like us to write about,do mail us.