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Provide Custom Products Through Market Research .pdf


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Provide Custom Products Through Market Research
Market players have been constantly on the look out of new techniques and strategies to sell their products.
They either cash in on the unique features that no other product in the market offers or work towards drawing
attention of the audience and use some kind of persuasion methods to sell their products. Many marketers
emphasize on prompt after sales service to pursue their customers whereas some constantly strive towards
bringing innovation to the product or services to bring in some novelty. Many new entrants use various G
Guerilla marketing techniques for marketing campaigns to launch their products or services. Some make use
of digital media for mass marketing campaign to create awareness and generate curiosity among the online
users.
Before launching any new product in the market, marketers often get themselves involved in performing a
comprehensive market research. The goal of any market research is to understand the need and wants of
majority group of customers. Let’s say a detergent manufacturing company is willing to launch a new product.
Their market research team will first visits the house of randomly picked customers and understand their
expectation from the product. They also figure out from the conversation or from the provided filled up
questionnaire, things that were un-liked by the customers in their old detergent product like the fragrance, or
the quality of the powder, or its ability to clean the cloth with minimal wash effort, the effect of detergent on the
quality of cloth(of different materials) and after wash effect on the skin.
After collecting all the details from the sample group of customers, the market research team shares the
customer’s input and their understanding to the product research and manufacturing team. Product research
and manufacturing team then work towards bringing innovations in the product composition and launches new
and improved product that would cater to most if not all of the customer’s needs.
In the present time, focus of most marketers is shifting from ‘buy only offered products’ ideology to ‘customize
product to sell’ ideology. Instead of pursuing customer to buy the available existing product they are shifting
their focus to understanding the unique needs of various group of customers and offer them tailor made
products that satisfies nearly(above 95%) of their requirement. Like for example in the fashion apparel
industry, the trend was to offer formal shirts in size group of small, medium, large and extra large. These shirts
may fit an individual in chest and the shoulders but may not fit the neck. Similarly for obese or very thin body
types none of these size group fits in. For this reason, most apparel stores and clothing outlets in shopping
malls, employ expert tailors who quickly measure the body size and alter the cloth piece that best fits the body
of the customer. By doing so, they give their customer the design and the material of their choice that fits right.
Marketing methods that shifts the focus from product centric to customer centric customization - may have to
go through a slow and gradual progress and may require lot of effort. It however changes the outlook from the
intent to ‘sell’ and ‘make money’ to intent to ‘serve’ and ‘contribute to’. If pursued well, in the right direction
throughout, it is a win-win for all the stakeholders.

www.hotcow.co.uk


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