| Consumer Panel |
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| In order to set up the most
efficient marketing plan, you need: |
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- To determine the overall Market size
of your brand as well as those of your
competitors.
- To measure the frequency of purchase
of your products and brands, the depth
of trial, the extent of loyalty to your
brand and those of your competitors.
- To identify the best media support to
advertise your brand, or improve your
plan considerably, by ascertaining consumer's
feedback to your promotional campaigns
and those to your competitors.
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| Introduction |
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| The Consumer Panel is a continuous
sample of randomly selected households, representative
of the population of the Market covered. Purchases
of each household member of this Panel are recorded
in a household diary and analyzed monthly, detailing:
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- Brands
- Variants
- Pack size and Type
- Quantity
- Price
- Type of Outlet
- Consumer Socio-Economic and Psychographic
Profiles
- Consumer Media Habits
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The Consumer Panel is a service
particularly useful for Fast Moving Consumer Goods
(FMCGs), i.e. consumer non durable with high purchase
frequencies. In addition, it covers a wide range
of products of interest such as consumer durable,
toys and other personal effects.
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| Advantages of the
consumer panel |
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| The Consumer Panel enables
continuous tracking of fast moving consumer goods
to allow detailed and accurate analysis of trial
and loyalty behavior. |
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| For FMCGs, oversimplification
of brand switching behavior is possible in a one-time
survey. Respondents tend to equate their most recent
brand buying behavior to their normal behavior over
time. The possibility of this distortion is reduced
by the Consumer Panel where actual purchases over
a long period of time are recorded. |
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| In exploring Consumer Profiles
and Buyer Characteristics which can have a bearing
on sales, the Consumer Panel links buyer profiles
and behavior with details of purchases providing
key inputs for marketing strategies. |
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| The effects of Special offers
& Promotions can be measured through a 'before
and after' design, using the Consumer Panel. A sample
of families, representing various profiles may be
selected from a panel and their purchase behavior,
before, during and after the stimulus can be monitored.
This can be done over weeks and months to obtain
short and long term effects of the promotional.
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| Types of analyses |
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How many households are active
consumers of your brands?
What is the past, current and projected customer base? |
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What type of households are the
heaviest buyers?
Is purchasing done as one big transaction or as a series
of small, repeated transactions? |
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Which brands are favored by the
heavy buyers?
How much of each brand's volume is repeated business from
old customers and how much from new customers?
How much total volume is 'in transit' each month as a
result of Brand switching?
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From which brand are you gaining
and to which brand are you losing customers?
Are you gaining or losing from the heavy buyers? The 'Loyals'?
The brand switchers? |
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| Does your brand have any problem
attracting or retaining specific types of households? |
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What are the effects of special
deals and promotions?
Which types of households are responding?
Which competing brands are vulnerable to your deals?
Which competing deals are making inroads among your own
customers? |
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