05 Nov BrandScan 2017 | Nielsen Session
Mr. Seshagiri Gudipudi, Director, Client Leadership at Nielsen delivered an insightful lecture on ‘Market Research’ for the Project Leads of BrandScan 2017. Possessing an industry experience of 25 years and provided valuable information on various techniques, challenges and report writing standards for the Market Research projects.
Mr. Seshagiri initiated the session with an interactive quiz, through which he demonstrated the answers in the quiz are mostly attributed to the perceptions one inherently has. He explained the importance that perception and reality play in the decisions researchers make in the industry. For example: If one perceives coffee to be the most consumed beverage in South India and invests into a new business in the coffee segment, the business wouldn’t succeed to the scale one had forecasted because that is his perception and not the market reality.
Association of a brand with a particular type of product is a by-product of their marketing campaigns, for example one cannot associate Rin with a personal care item like face wash because of its recall as a soap bar. The product placement in supermarkets also plays an important role in consumers purchase habits. A famous Wal-Mart case study, on Friday afternoons: young American males who buy diapers (nappies) also have a predisposition to buy beer. After observing this interesting data Wal-Mart decided to place diapers next to beer in their supermarkets resulting in increase of diaper sales.
Data collection for analysis is mainly gathered through primary research from household data and retail audits wherein one can observe trends in consumption behaviour, seasonality issues, sensitivity and other factors that impact consumer purchase. In the future Nielsen plans on analysing customer behaviour through data from smartphone. Generally simple cross tabulation can be used to carry out the analysis but in case requirements of client’s demands use of complex analytical tools then they can be applied.
Generating and formulating the report is an important part of the Market Research project, wherein the researchers must summarize and analyse the data obtained effectively. One must provide clear, precise and simple information describing the research processes. The report must be as per industry standards, in terms of its language and recommendations provided must comply with client requirements. Visuals must be used when necessary to aid the readability of the report. The values in the table can be highlighted to ensure better visibility of required data. The details in the report must be concise, additional data can be provided in the appendix if required. Finally, the Executive Narrative must entail the project details in brief.
The Nielsen’s Way U-Path was discussed which helps directly address clients business or marketing issues in an efficient manner rather than a straight line approach.
The Top Three Insights from the Session:
- A researcher must be aware of the perception and reality his industry so as to make the right forecasts and analysis
- An effective report addresses the business issues, links results with decisions, makes clear and precise recommendations with sufficient data to back these recommendations.
- One must keep probing his peers to obtain insights into the customer’s perspective, and ask for feedback from his superiors or critics so as to improve his standard of work.
The Top Three Recommendations:
- To measure a company’s ad-effectiveness one should evaluate the storyline, brand recall and measure how effectively it conveyed the message.
- If the target audience is wide, one must classify the demographic and create streamlined processes to analyse each segment.
- Segmentation of products can vary depending on the factors you consider like consumption, ability to articulate, consumer perception, manufacturer perception etc. Therefore, one must only analyse the factors customers take into consideration by using focused group discussions.
Mr. Seshagiri’s engaging session helped students structure their thought process and refine their methods to fulfill their respective client requirements. Thanks to the support from Nielsen as the knowledge adviser, the students are confident that BrandScan 2017, in its 25th year will be a grand success.
Guest lecture by:
Mr. Seshagiri Gudipudi,
Director, Client Leadership, Nielsen