NPD Custom Research/Advanced Analytics
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NPD Custom Research/Advanced Analytics

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    NPD Custom Research/Advanced Analytics NPD Custom Research/Advanced Analytics Document Transcript

    • Drive BetterDecisions:Industry Knowledge, Expert Perspectives
    • 2 Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom
    • Drive Better Decisions: Industry Knowledge, Expert Perspectives Aftermarket industry leaders rely on our point-of-sale and consumer information for benchmarking, product assortment and line development, distribution planning, and more. Did you know they also count on us to address their most complex, specialized business questions? You can, too. Find out more about our custom solutions and Advanced Analytics capabilities.solutions and Advanced Analytics capabilities can help you make better business decisions. 3
    • Driving Better Decisions with Custom Research What if you had a better way to understand consumers’ attitudes, preferences, and motivations? Our custom research solutions let you go straight to consumers to answer your company’s toughest product development, marketing and branding, advertising, packaging, and other business questions. Many of our clients say the best part of doing custom research with us is that they don’t need to spend money and time building a sample and doing the fieldwork — we do it for them. You can use custom solutions to test packaging, concept-test advertising, explore new concepts, change merchandising and brand positioning, assess celebrity endorsements, and more.4 Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom
    • What’s Possible with Custom Research Which issues could you address with custom studies? Here are a few examples of the ways you can use custom studies in your business. In addition, we can develop a study specific to your needs. ■ Measure awareness of your new products so you can determine which actions will help you gain more traction among consumers. ■ Prove to your retail partners that consumers prefer your brand, which could get you more coveted shelf space! ■ Gauge the feasibility of new products and marketing ideas in an economical way, and identify the concepts that offer the greatest revenue potential. ■ Test new packaging ideas prior to launch to know if you have a winner or a flop.solutions and Advanced Analytics capabilities can help you make better business decisions. 5
    • Custom Solutions at Work Before you commit time and money to new product development and marketing, determine how your consumers view the product. We go straight to the consumers you want, and they rate your new product concept on measures such as future purchase intent, likeability, uniqueness, and value. New Product Concept Test Results Percentage Top Two Box Responses Rank Definitely/Probably Purchase Intent Would Purchase 38% 1 Like/Dislike Like a lot/ 8 53% Somewhat Uniqueness Extremely/Very 26% 5 New and Different Value Very/Fairly 46% 5 Good Value Likeliehood to The NPD Group/Custom Research Source: Definitely/Probably 33% 1 Recommend Would Recommend6 Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom
    • If we discover they are likely to purchase the product, then we can test naming and packaging options, too. Which brand name do you prefer for the Brand X’s new product? Name 1 31% Name 2 34% Name 3 35% Source: The NPD Group/Custom Researchsolutions and Advanced Analytics capabilities can help you make better business decisions. 7
    • Drive Better Decisions with Advanced Analytics Struggling with a complex business issue? Advanced Analytics capabilities focus on these key areas, and we can work with you to address other specialized needs, as well. ■ Price Evaluation ■ Forecasting ■ Marketing Evaluation ■ Test & Learn ■ Opportunity Identification ■ Consumer & Shopper Behavior Our dedicated team of analysts trained in advanced statistical methods can help you pinpoint your information needs. Their unmatched industry expertise and research experience — combined with robust data assets not available anywhere else — result in targeted, creative solutions for your business.8 Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom
    • What’s Possible with Advanced Analytics We can help you dig into the issues standing in the way of your growth and success. Advanced Analytics can equip you to: ■ Identify the differences between underperforming stores and better-performing stores so you can implement changes to spur sales. ■ Understand how your competitors’ marketing activities affect your sales volume so you can determine which actions you should take. ■ Determine the key price thresholds that exist for your products so you don’t lose sales but maintain profitabilty. ■ Evaluate marketing effectiveness and measure results accurately. ■ Develop strategies to retain your loyal consumers while reaching new consumers. ■ Establish the investment levels you should plan for in the years ahead.solutions and Advanced Analytics capabilities can help you make better business decisions. 9
    • Advanced Analytics at Work Setting the right price is essential to your profitability. Understanding price elasticity, which measures how consumers will respond to price changes, enables you to set your product’s price at a level consumers are willing to pay, while covering your margins. Here’s how it works. Our Advanced Analytics team will determine if your products are price elastic or inelastic. If percent decreases in demand are less than percent increases in price, it is inelastic, and revenue will increase. But, if your product is highly elastic, you will lose unit sales and revenue. For example, if your brand is highly inelastic, you could gain Price Elasticity Scale -0.5 -1.0 -1.7 -2.0 Highly Moderately Highly Inelastic Inelastic Elastic Elastic Elastic *Assumption: $60 million brand with a 40% margin, 10% price increase + $1.2 million - $2.2 million profits profits10 Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom
    • an additional $1.2 million in profits by raising price. If it’s highly elastic, that same price increase means risking $2.2 million in profit. Once the price elasticity of your product(s) is determined, we can provide additional analyses and other resources to help you make the best pricing decisions. Our Price Simulator can help you understand sales and profit implications for price changes so you can develop “what if” scenarios. It forecasts price changes’ impact on unit sales, revenue, and profits. Price Simulator Current % Price % Change Expected Revenue Expected Profit Price Change Unit Sales Revenue Change Profit Change $4.50 10% -5% $16,095.15 Increase $6,438.06 Increase $16.00 5% -8% $52,731.93 Decrease $21,092.77 Decrease $16.25 5% -4% $55,687.60 Increase $22,275.04 Increase $6.50 5% -1% $22,936.76 Increase $9,174.70 Increase $18.25 5% -2% $64,085.93 Increase $25,634.37 Increase $7.50 5% -5% $25,576.88 Decrease $10,230.75 Decrease $19.00 5% -7% $63,233.20 Decrease $25,293.28 Decreasesolutions and Advanced Analytics capabilities can help you make better business decisions. 11
    • Automotive Aftermarket Industry Expertise The NPD Group is the premium provider of consumer and retail information for the North American automotive aftermarket, petroleum marketing, and convenience retailing industries. NPD expertise and data provide industry leaders with essential market information to assist in making more effective business decisions. NPD is uniquely qualified to help marketers apply infor- mation to address key marketplace issues from multiple perspectives, based on more than 20 years of experience in these industries. NPD’s diverse portfolio of services includes consumer panel tracking and national and Store Level retail point-of-sale (POS) tracking. Specifically, NPD information supports benchmarking, competitive analysis, assortment and product planning, and identification of new channel opportunities. Ready to Drive Better Decisions? Begin the conversation today. Call Charles Camaroto at 866-444-1411 or email contactnpd@npd.com to find out how our custom solutions and Advanced Analytics capabilities can help you make better business decisions.npd.com