New Product Development / Concept Testing

New products or offerings are essential for any company and it may be new concept or extension of existing product category or modification in existing product only. But to avoid failure and ensure the acceptability of any such change, the support of market research is needed in terms of customer's opinion and feedback.

We offer research support at the concept stage as well as for final designed product.

The key outputs of New Product/Concept test are as follows:

• Consumer Feedback on new concept or product
• Winning or liked attributes /features of the product or concept
• Scope of improvements
• Acceptability level and potential scope of demand as per their need fulfillment
• Price Acceptability

Brand Image & Equity:

Brand is the most valuable asset for any organization and it can be evaluated in terms of measuring the brand equity. The comprehensive marketing goal of any company is to build a brand, develop it in the target space and make it more valuable for target population.

We help brands in not only measuring their current brand equity & image as well as identifying its weakness and scope of cultivating the strengths to improve the image. We propose the time-series brand research designs to keep the continuous track of brand performance and its image in the industry.

The key outputs of Brand Image & Equity studies are as follows:

• Brand imagery in the competitive space
• Brand Diagnosis in terms of Awareness, Consideration, Purchase, Re-purchase and Recommendation as well
• Current Brand Value (equity) assessment and its key positive as well as negative attributes
• Brand Loyalty and Recommendation

U & A Studies:

Usage and Attitude studies give you a complete snapshot of your product performance in terms of its appeal, strengths, weaknesses and any gaps in the offering.

The key outputs of U & A studies are as follows:

• The who-what-when-where-how dynamics of your category or market
• Identify brand loyalty and what drives it (i.e. key driver analysis)
• Understand how behavior and usage changes by brand
• Why consumers buy specific brands (and what is distinctive about these consumers)
• Identify any gaps between needs and performance (opportunities)
• Brand evaluation against competitors
• Lifestyle, media consumption, attitudes - provide detailed analysis opportunities
• The basis for a customer segmentation study

Advertisement / Campaign Test:

We help the clients in evaluation of their 360 degree media campaign. The scope of research includes pre-testing of concept or advertisement prepared for different media and post-testing of campaign or advertisement to assess its reach, recall and impact

Pre-testing is conducted to optimize and improvise advertisements for any medium: radio, television, print (magazine, newspaper or direct mail), outdoor billboard or Internet; whereas Post-testing is conducted after the advertising, either a single ad or an entire multimedia campaign has been run in-market. The focus is on what the advertising has done for the brand, for example increasing brand awareness, trial, frequency of purchasing.

Demand Estimation Studies / Market Feasibility Studies:

Demand estimation is as similar as mapping the route before starting your journey. Any brand would like to estimate the potential demand in any new geographical market or new product category, before entering into the same.

The purpose of demand forecasting and estimation is to find a business's potential demand so companies can make accurate decisions about pricing, business growth and market potential.

We always supplement expert opinions and secondary reports on industry, in addition to primary surveys. Demand estimation and forecasting is very much based on various assumptions and scenario; so it can't be dependent only on primary surveys and opinions

The key outputs of U & A studies are as follows:

• Current Market Sizing- Product category-wise, Competitive Brand shares, Geographical shares
• Feasibility and potential of the market- new geographical market or new product category vertical
• Estimated demand (in terms of value as well as volume) for next 5 or 10 years of span with the options of various business scenario

Mystery Shopping / Audits:

We do understand the significance for gauging the satisfaction level of the services rendered to the prospect customers by the companies and to ensure that services are delivered in the ways intended by them. Ideally, Mystery Shopping is an efficient tool to measure, understand and improve customer service standards by letting our auditor pro tem as if they were customers. So we do enable companies to achieve uniformity in operation as well as continual enhancement in their products & services. We employ people who are passionate about customer service excellence just like us.

The participant's feedback is precisely evaluated to provide a surface of clear understanding of consumer wants & preferences.

Here at Danika Research we prefer using digital medium for Mystery Audits like tablets, which is very user friendly for our auditor as during the audit process at the store / outlet, he would use the tablet for audio recording later which can be used to fill the form, else in generic scenario where tablets are not handy the probability of getting some important points been skipped is high,

Benchmarking:

Marketing can make a dramatic contribution to your success, yet many businesses fail to measure how effective their marketing is. We can help you assess the effectiveness of your marketing strategy and measure the performance of individual campaigns. You can use our market research services and benchmarking to help plan your marketing strategy and methods.

Very often it's the combination of marketing activities that produces results. Other common marketing metrics include measures of customer satisfaction, sales per customer, response per campaign and pounds invested, loyalty levels, percentage of market share and new customer acquisition, as well as the volume and type of customers that leave. All this should be measured against what you and your competitors are doing, to see how they tie together.

Typically, we recommend to conduct benchmarking studies at intervals of between 18 and 24 months, depending on the nature of the business, the rapidity of changes in the operational environment, competitive forces, or any crisis or other issue that the client has experienced that may have affected perception of its brand in the minds of its constituents, customers, prospects or internal staff.

The benefits of benchmarking are many. Primarily, benchmarking is a tool that is used to measure the efficacy of an organization's marketing, communications and advertising efforts and, as is the rationale for most image and awareness studies, to identify areas of opportunity and inform the development of ongoing strategic, operational or marketing-oriented initiatives geared towards taking advantage of the highlighted opportunities.

Customer Satisfaction:

Customer satisfaction studies are used to gauge the extent to which consumers of their products or services are satisfied, not only in general terms but also with the ways in which products or services are designed, marketed, packaged, delivered, and priced.

Furthermore, accurate information about the size of your loyal customers and the limit of their loyalty will help in making a lot of marketing decisions.

We are experienced in carrying out transaction-based customer service research which can help you in developing an efficient customer service programmers. We are dedicated to improving customer service within your company and can help you develop an appropriate measurement system.

Key measures of customer satisfaction are the customers' willingness to continue their current business relationships and recommend the service to others. In customer studies, we strive to measure ways to improve the customer experience. At every point of customer contact we have attributes of satisfaction to measure and compare, customized and designed as per the client's business process and service delivery system.

Businesses and organizations in all industries also use satisfaction and loyalty studies as a critical strategy for reducing costs - it takes many fewer resources to retain a good keep a satisfied customer coming back than it does to recruit new ones.

Employee Satisfaction:

We believe that your employees are as important as your customers. As much as you want to know the satisfaction of your customers you must also endeavor to know the satisfaction of your employees whose strength whether mental or physical turns the levers of production. Be informed that the satisfaction of your employees affects their attitude towards your cherished customers. Moreover, it takes many fewer resources to retain a good employee or keep a satisfied customer coming back than it does to recruit new ones.

Impact Assessment:

Broadly, impact assessment is the process of identifying the anticipated or actual impacts of a development intervention, on those social, economic and environmental factors which the intervention is designed to affect or may inadvertently affect.

It may take place before approval of an intervention (ex ante), after completion (ex post), or at any stage in between. Ex ante assessment forecasts potential impacts as part of the planning, design and approval of an intervention. Ex post assessment identifies actual impacts during and after implementation, to enable corrective action to be taken if necessary, and to provide information for improving the design of future interventions.

We have experienced professionals in the area of impact assessment. We have professionals with rich and varied background and are well equipped in determining impact of a company's operations, government policies and programs and those of non-governmental organizations.