Glasgow Insights

One of the off shoots of Game Theory is ChoiceBasedConjointAnalysis (CBC), which is often used in Market Research to understand how people choose when presented with different product or service options. This in-turn helps businesses identify the more important features that drive consumer preferences and influence decision-making, and thereby impact sales and other key performance indicators. Thus, this technique is often used to strategize a company’s Marketing Mix Modeling (MMM). This is typically done by analyzing different components of the marketing mix (such as advertising, pricing, distribution, promotions, etc.) in terms of their contributions in driving business outcomes. Click : https://www.glasgowinsights.com/blog/what-is-choice-based-conjoint-analysis-and-how-can-it-help-me-plan-my-marketing-mix-modeling-2/ Below are a few examples of how Market Researchers use the CBC to plan the MMM: Guide Product Design and Product Pricing strategies in the conceptualization / de...

 Insights from # Customer and # Shopper #Segmentation Studies can help # marketers take better # DataDriven decisions. If you’re new to this concept, here’s a quick guide on commonly used practices. First, # Demographic Segmentation provides information on the #population construct of a country in terms of Gender, Age, Region, Average Family Size, Ethnicities, and more. This is key to understanding the market size and building from there. Next, # Psychographic Segmentation helps understand Customers in terms of # MindMeasures and creates segments that represent different # NeedStates based on aspirations & inhibitions, triggers and barriers, behaviours and preferences. This enables the marketer to prioritize which segments to win and which to deprioritize. Click : https://www.glasgowinsights.com/blog/understand-and-use-different-types-of-segmentation-tools-to-build-your-marketing-strategy/ Finally, #Behavioural Segmentation forms customer segments based on usership, freque...

  While one has to conduct PESTLE Analysis as well as have a detailed understanding of the laws of the land, there is the other critical component and this is about understanding the people element. So here are some basic pointers of the kind of understanding one needs. Click : https://www.glasgowinsights.com/blog/go-to-market-strategies-what-one-needs-to-know-from-the-b2c-perspective-before-launching-a-new-fmcg-brand-in-any-country/ The first set of questions that we need an answer for is: How big is the category currently in terms of volumes and value, and how has this evolved in the recent years? Who are the top manufacturers, and what are their top brands? What are the various segments (i.e. product types — flavours, formats, etc.) already at play? What are the various price points in which these are sold, what is the average selling price, what are the depth of discounts? Where (as in which shop formats) are the category more sold at (think hyper / supermarkets vs. tradi...

  There’s a surge in demand for “ Real Time/Live Data Reporting ,” often utilizing #PowerBI Dashboards as part of market research deliverables. Power BI Dashboards are fantastic for bringing #data to life, allowing users to customize with minimal training. They’re visual, and as they say, “a picture speaks a thousand words.” In the “Age of Data,” such technologies have made data easily accessible and understandable, with “Real Time Updates” being a game-changer in data-driven decision-making. Industries like #Retail, #BFSI, #Healthcare, #Travel, #Hospitality, #Logistics, #Manufacturing, and even #Public entities have embraced this trend. However, not all Market Research Studies may need “Real Time Updates,” even for continuously run #Tracker studies. Click  : https://www.glasgowinsights.com/blog/not-all-market-research-studies-need-to-have-real-time-live-data-reporting/ Firstly, let’s define Tracker studies. There are two types of market research studies — Trackers and #Adhocs...

 One of the off shoots of Game Theory is Choice Based Conjoint Analysis (CBC) , which is often used in Market Research to understand how people choose when presented with different product or service options. This in-turn helps businesses identify the more important features that drive consumer preferences and influence decision-making, and thereby impact sales and other key performance indicators. Thus, this technique is often used to strategize a company’s Marketing Mix Modeling (MMM). This is typically done by analyzing different components of the marketing mix (such as advertising, pricing, distribution, promotions, etc.) in terms of their contributions in driving business outcomes. Below are a few examples of how Market Researchers use the CBC to plan the MMM: Guide Product Design and Product Pricing strategies in the conceptualization / development stage of a Product Life Cycle Understand the relative importance of the various elements creating the current marketing mix (in ...

  The Government of the United Arab Emirates supports the automotive sector as a key revenue generator. As a result, it is one of the fastest-growing automobile markets in the Middle East region. Click Here : https://www.glasgowinsights.com/blog/uae-passenger-car-vehicles-on-road-is-around-3-million-units-in-2022/ After the 2008 financial crisis, the UAE automotive market gradually began to recover. There was outstanding growth between late 2010 to early 2015. This growth was disrupted in the second half of 2015 as oil revenue declined. The situation turned for the better in 2019, but soon Covid pandemic hit the country affecting the sales of the automobile. While the sales of new cars dropped by almost 50%, the market for used and pre-owned cars saw a rise in sales. With the air of uncertainty in the economic sector, earnings dipped and consumers preferred to buy second-hand cars. Many auto manufacturing companies were forced to halt the production of new cars, resulting in a sur...

  Market Assessment for a Planned Jumbo Tissue Paper Rolls Unit in Sultanate of Oman Owing to new infrastructural developments, Oman is currently experiencing a surge in MICE tourism. Oman Convention & Exhibition Centre, which was inaugurated in 2017, will be a key driver for the MICE industry. India has been a major focus area for Oman’s MICE tourism sector. Various workshops with the tour operators, meetings with wedding planners and MICE agents are regular activities carried out in India to promote tourism in Oman In 2016, the Government of Oman released its 25-year National Tourism Strategy (NTS) to help develop travel-related infrastructure across the country. The key aim is to boost annual international arrival numbers from 2.6m in 2015, to 5m in 2020 and 11.7m by 2040. The use of tissue paper products is expected to increase on the back of the growing tourism in the country Strategic location, cheap natural gas, good diplomatic relations, Sohar Port and innovation are th...