Manufacturing Market Inventory Example Survey Results
The Manufacturing Market InventoryFGI’s Manufacturing Market Inventory (MMI) is a comprehensive analysis of how consumers view,choose, and use products in specific categories. This presentation provides a high-level view ofthe types of output our clients can expect from the study; the actual analytical report is highlydetailed and highly actionable.Consumer goods manufacturers use this study to fortify their case in line reviews with retailers,optimize their marketing and messaging strategy, and understand what product features drivetrial, repeat purchase, and loyalty. The survey results are intended to be viewed through theprism of a consumer segmentation model, which is a key deliverable of the MMI. Thesegmentation model provides a glimpse into consumer behaviors and attitudes that are unique toyou, helping you build your case to retailers’ buyers.The MMI is not a syndicated, off-the-shelf research product. While the basic structure of thesurvey is similar, each MMI is specifically customized to a single product category—yours. Theresults of the study are proprietary to you and are never published or shared outside yourorganization. You will learn how your brand stacks up against those of your competitors in thefeatures that matter to consumers. It will show you what you need to improve, and will showwhere your competitors are weakest.Most importantly, the MMI offers insights into what your organization can do right now toincrease your shelf presence and sales. It helps you identify, quantify, and prioritize productenhancements, marketing, and messaging.The MMI helps you win. 2
Where do people shop How big is our market? for products like mine? The MMI estimates the Home Theater total current and114,000,000 projected market for Discount DepotHouseholds in the your product category. United States Brand 123 34,200,000 Home Theater 2 Total potential US market for your 0.0% 10.0% 20.0% 30.0% 40.0% products: 34,200,000 households Understand precisely where consumers shop for and buy 25% bought products like yours in the past year products like yours. 5% more say they plan to buy in the upcoming year How are my potential customers segmented? Target the segments most likely to purchase your products and 25% increase the efficiency of your Professionals 38% ad buys and messaging. See Practicalists how channel usage differs for Economizers target versus non-target 19% Dreamers segments. 18% 3
Do people know about my products? How many people prefer my brand? Brand75% Brand A Big Local Home Box Store Ctr 65% You 58% 75% 68% 65% Brand C 41% HJ Brand Aware: 75% 27% Brand D Brand E The brand funnel is a 24% measure of the strength Used: of your advertising, your 17% Brand F messaging, and your Other 30% targeting. It also begins 16% to quantify the gap between awareness and usage. Higher awareness equals higher sales. How does awareness of your brand compare to that of your competition? Does awareness differ based on channel Preferred: 10% preference? 4
Where is our awareness strong? West North Central East North Central New England Top of mind 6% ++ Top of mind 5% ++ Top of mind 7% ++ Total unaided 11% ++ Total unaided 8% ++ Total unaided 10% ++ Aided 70% Aided 70% Aided 67% Middle Atlantic Top of mind 4% ++ Total unaided 7% ++ Aided 66% South AtlanticPacific Top of mind 4%Top of mind 3% Total unaided 6%Total unaided 5% Aided 64%Aided 62% Mountain Top of mind 3% East South Central Total unaided 5% Aided 65% Top of mind 4% West South Central Total unaided 7% ++ Aided 72% ++ Top of mind 0% Total unaided 3% Aided 56% 5
How do consumers use my brand? Annual Spend Usage patterns are quantified in $152.86 extensive detail. This includes $131.54 fully understanding how and when $48.75 your products are used, how much your customers spend on products $24.89 like yours, in what quantities and $95.85 how frequently they buy, and more.Segment 1 Segment 2Segment 3 Segment 4Total Sample (n = 1,501) Product types used Brand usage by segment Type A 76% Type B 37% Type C 31% Type D 21% Type E 20% Type F 19% Type G 18% Other 1% 6
What’s the gap between awareness and use? How do I close the awareness/usage gap? Barrier High + Low - Share Prob % A small gap between awareness and Learning curve 37 33 21% 33% usage means you should focus on Bad reviews 34 31 16% 26% audience reach. A large gap says you Tool weight 32 32 14% 22% should overcome specific barriers. Perceived quality 34 35 12% 17%A/U Gap Country of origin 30 34 9% 24% Price 32 31 8% 15% 0.57 Features 34 34 8% 30% 0.56 0.55 Awareness/ Usage Gap Color 35 35 7% 34% Market Packaging 33 36 5% 24% Average: 35% 0.62 31% 35% High + Highest Positives Low - Lowest Negatives 0.45 Share Share of Preference Prob % Probability of Choice 0.75 25% 8% 0.82 MaxDiff scaling is one way 5% to measure barriers to consumer purchase reluctance. Brand A Brand B YOU Brand C Brand D Brand E Aided Awareness 7
Will consumers actively seek out my brand? How important is word of mouth? NPSBrand D 69% 31% Brand D 28Brand C 70% 30% YOU 27Brand B 48% HJ 52% Brand C J 17 J YOU 78% 22% Brand B 5Brand A 49% 51% Brand A 41 Buy whatever available Leave the store 1-6 7-8 9-10 Detractors Passives Promoters If your product was not immediately available, some consumers will leave the store to find your brand The Net Promoter Score1 elsewhere. This important measure of is a frequently used 1Reichheld, Fred. The One loyalty is the “walk rate.” measure of brand loyalty. Number You Need to Grow. Harvard Business Review, December 2003. 8
When do consumers make their How are consumers influenced to buy? purchase decision? BEFORE LEAVING HOME WHILE IN THE STORE Information 45% from store clerk 29%Segment 1 55% 45% Point of 22% HJ purchase J information 26%Segment Men 75/25 73% J27% Recommendati 20% 2 Women 69/31 on from a family member 13%Segment Product label 12% 3 36% 64% comparisons 13% 4%Segment Men 62/38 Internet Local Store 4 62% Women 62/38 38% 5% Retail 2% Other 2% Total 58% 42% Knowing when consumers make Pinpoint the right place, time, and method to get their purchase decisions information into consumers’ hands based on helps you target your messaging their preferred purchase channel and overall. and advertising. 9
What drives satisfaction or purchase intent in this category? 8.7High Brand I trust 8.6 Brand reputation SECONDARY COMPETITIVE Works the first time 8.5 STRENGTHS STRENGTHS Light weight Know which 8.4 Easy to use product features are importantPerformance 8.3 drivers of 8.2 satisfaction and Price purchase 8.1 intent. SECONDARY Impact resistance CRITICAL WEAKNESSES 8.0 WEAKNESSES 7.9 ColorLow 7.8 0.400 0.420 0.440 0.460 0.480 0.500 0.520 0.540 0.560 0.580 Low Importance High 10
About FGIAt FGI Research, we specialize in serving you, a research or marketingprofessional, who relies heavily on serious market research for theirpersonal and organizational success. Unlike many of today’s tool-based, do-it-yourself companies who create more work and uncertainoutcomes, FGI Research is accountable for your research deliverables.With our full-service market research team, marketing science experts,and our products like online surveys, custom-built consumer panels, andonline communities, we use quality data to solve your “right now”problems or to assist in your long-term goals. Gain market share, monitorsatisfaction, test new products and services, collect data, hear from yourcustomers, maneuver around your competitors, or launch a targetedmarketing campaign.We’ll put our more than 30 years of market research experience to gooduse. 11
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