PRODUCT RESEARCHWhat product characteristics are important to yourcustomer experiences e.g. features, color, size etc.What product innovations are likely to be well-received by customers?What brand name appeals to your customers?What functionality do your customers want?What styling, quality, safety and packaging do yourcustomers want?Is after sales service, repairs, warranty and guarantees
Wh a t p r i c i n g s t r a t e g y s h o u l d y o u u s e (c a s h d i s c o u n t s , c u s t o me r s e g me n t p r i c i n g , s p e c i a l e v e n t p r i c i n g e t c .)? Wh a t s h o u l d y o u r s u g g e s t e d r e t a i l p r i c e b e ? S h o u l d y o u g i v e v o l u me d i s c o u n t s o r o f f e r wh o l e s a l e p r i c i n g ?
Choosing a distribution channel. Should your product or service be sold through a retailer? Should you offer the product or service wholesale? Should you use multi-level marketing or party-plan to sell your product? Deciding what kind of market coverage you need i.e. are you going to be exclusive, selective or have a wide inclusive distribution What channel partners to choose? Where and when should your product or service be available?
What promotion strategy to use Whether your key messages or copy resonates with your target market Selecting the advertising media that will best reach your target market and which best conveys your brand message Whether your advertising or promotions strategy has increased your brand recognition
Product research:Research findings: Not kept pace with the rest of the world. Preferred among 35-40 yrs. Young urbanites moved on to sophisticated confectionery Typical single serving was perceived to be too big.Improvements: Single serving reduced to 15-20gms Modern and sleek packaging Firni and kheer packaged in modern and single served cups
Pricing research: High quality customized package Customized selection of special sweetmeats. 300 percent premium over regular nirala prices Lahorites are known for their love of food and willingness to pay a premium amount Special discounts on occasions.
Distribution research: N DESIGN is the packaging company working under NIRALA More than 3000 retail stores across more than 50 cities in Pakistan. Timely and effective distribution of the products.
Promotion research: Print media and outdoor advertising. Music concerts and English plays are sponsored by NIRALA(Moulin rouge and the phantom of opera) Primarily used word of mouth
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