A booming and gigantic market – where demand still exceeds supply – presents its own set of challenges, primary among them being:
- Market Penetration – marketers need to quickly identify and move into the untapped smartphone upgradation markets.
- Distribution Efficiencies – in a highly competitive scenario, with severe pressures on pricing, the challenge is to enhance retail coverage dramatically and move products to markets in the shortest possible time and the most optimized cost.
- Product-Market Match – With higher growth coming from mid-to-small towns and rural, Marketers are evolving stripped-down versions of urban SKUs with reduced functionality to lower costs. However, these pruned versions need to be matched to markets that will accept these, calling for various shades of customer segmentation and robust marketing mix analysis.
- Identifying new retail channels – sheer size of volumes, and the need to be uniquely present, requires marketers to identify unconventional retail channels which they can capture for themselves
Our Analytics Repertoire
- Market Penetration Potential & Reach Estimation
- Market Segmentation
- Consumer Segmentation (demographics, lifestyle & psychographics)
- Channel Upgradation & Optimization
- Retail Coverage Gaps
- New Channel Identification
- Product-Market Match
- Distributor Sales Analysis Management
- User Personas
The BrandIdea Business Analytics Product is distinctly unique. We have been modeling granular data assiduously for the last eight years – painstakingly, from the bottom-up — across 6 lakh villages, 8000 towns and 2 lakh neighbourhoods of India. We use an array of data-science techniques to generate powerful and compelling granular analytics, which make actionable insights literally pop out of the screen, with the help of versatile data visualizations.
Since the resulting interventions are customized and intense at the micro-level, there is minimal wastage of marketing and sales effort, as against a top-down, trickle-down approach. Also, these efforts drive higher growth by aggregating the effect of customized actions as against the diffused effect of top-down implementation.
At the micro-level, the multiplicity of these data points result in insightful predictive and prescriptive analytics, leading to surprising revelations that answer queries which traditional research would have struggled on. Such insights would not have emerged but for the granularity of data and analytics.