Our solution are developed from marketing challenge domain
Developing a strong market development strategy is an important aspect of helping a company grow. If companies are limited by only having a small share of the market, they can find it difficult to sell more products, raise capital, and expand their operations.
There are several approaches that can be used to make a market larger, ranging from capturing customers of rival companies to expanding to a previously unserved segment of the market, they are :
There is no doubt that new products are important for business. The rise and fall of many companies are often attributed to their capabilities to offer something new to the market.
New products, in essence, are the heart of modernization. It synthesizes the availability of technology, the state of socio-culture and commercialization. It capitalizes the whole dimensions of resources to improve human life’s experience.
For companies, it means the source of competition and ensuring the sustainability. For consumers, it means the options for improving their life. For all it worth, market is growing.
But, yes, it is difficult journey. It often employs overlapping process, flexibility and fuzzy gates. It requires strong teamwork as well as individual ingenuity.
The failure rate is high. Although it is not as high as people think. And here we are. Ready to help you in all states of product development to reduce the failure rate and increase your chance to success.
Brand is overused terminology in marketing. Yet, we know that the roles of brand are essential in market development. Who can deny?
For us, the main importance of brands lies in their capabilities to produce meaning in consumers’ mind when they make buying decision and consumption. Brand development, in that sense, is formulating the blue print on what meaning a brand should have, to ensure the vast interest of target market.
We, at Prompt Research, have developed a proven research approached to help you develop your brands.
Focusing on the context of consumption, we are able to point out what psychological and sociological factors are at play for specific consumption. Combine this with where your brand comes from, we should be able to craft the needed brand identity.
In many cases, growth is obtained by expanding the market both geographically or demographically. The key success is recognizing and accounting for different type of consumers in developing marketing program.
What look like a simple segmentation problem, actually is a bit harder. Choice between standardization and customization is never easy. On one hand, we understand the world is shrinking. Standardization enables us to lower the cost while keep the same offer and image through all areas. On the other hand, globalization creates uneasy feeling for many. They need something to secure their sense of identity. Customization may win.
Regardless your choice, we know what information needed to make that decision. We can help you find the context of consumption in terms of functional, psychological and sociological need. We will put this context in terms of both socio-culture and life-stage.
Going further, we also gather the perception and attitude toward your brand as well as the competitors to show what better way of doing it.
In addition, should you need a demand forecast, when methodologically it is possible, we help you to find the proxy.
We have capacity to help you with all stages of marketing strategy development, especially in environmental scanning/ strategic marketing analysis. We do both desk research and consumer research to provide you with the necessary inputs.
We believe the appropriate methods for segmentation are based on consumers need instead of demographic or psychographics.
Through comprehensive study to get insight how to position our product and brand unique differentiate with others.
Lifestyle study often use as basis of understand the consumer’s attitude and motivation for certain consumption.
We develop specific framework for B2B since it have total different marketing game with B2C.
At the end, we cannot manage the things that we don’t measures. The intention of conducting research related to marketing touch points is mainly evaluation. We do both qualitative and quantitative assessment. The choice of methodology depends on the type and range of improvement which possible to be done.
We use the following sequences to list down the typical research in those areas:
We combine our research expertise and the latest school of thought on business & marketing concepts to deliver the best approach in each project
We employ experience field workers and sustain the integrity of data through obsessive quality control
We answer the research objectives through correct analysis and contextual interpretation in relentless manner
We produce clear and concise report by focusing on clients’ need in decision making. We are prepared whenever technology and visual aid are needed