There is something wonderfully empowering about this. It suggests we have remarkable capacity to influence our own outcomes. But that's also daunting. One of the central findings is that practice is not only the most important ingredient in achieving excellence, but also the most difficult and the least intrinsically enjoyable. If you want to be …
Price Sensitivity Model
In the 1970s, Dutch economist Peter H. van Westendorp introduced a simple method to assess consumers’ price perception. It is based on the premise that there is a range of prices bounded bya maximum that a consumer is prepared to spend and a minimum below which credibility is indoubt. The Price Sensitivity Meter (sometimes called …
Standard Error
If you measure a sample from a wider population, then the average (or mean) of the sample will be an approximation of the population mean. But how accurate is this? If you measure multiple samples, their means will not all be the same, and will be spread out in a distribution (although not as much as …
Analytics used in statistics for MR – B2B International
The following blog is on the various statistical techniques applied in market research and is by B2B International. There are a number of various analytical techniques used in market research like: correlation analysis, regression analysis, factor analysis, cluster analysis, correspondence analysis (brand mapping), conjoint analysis, chaid analysis, discriminant/logistic regression analysis, multi dimensional scaling, structural equation …
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Difference between Z-test, F-test, and T-test
A z-test is used for testing the mean of a population versus a standard, or comparing the means of two populations, with large (n ≥ 30) samples whether you know the population standard deviation or not. It is also used for testing the proportion of some characteristic versus a standard proportion, or comparing the proportions …
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Inferential Statistics
Suppose you have the task of adding up long list of numbers - perhaps your daily expenditures over a month. You do your sum and get a particular result. But you're not sure whether you got it right. You may have made a mistake in adding or punching in the numbers if you were using a calculator. What do …
Colgate in India
Colgate has come up as one of the most resurgent brands in the Indian market. The brand covers massive market in terms of volume in toothbrush and toothpaste sales. Colgate is one of the top performers in its category. But with new players entering the segment, Colgate has been resurgent and is ready to face …
Tata Magic
The Indian Automobile market has been majorly seen catering to the needs of the Tier 1 and Tier 2 consumers. Tata has been one of the brands that cater to the Bottom of the Pyramid markets. Tata Motors launched The Magic, developed on the platform of the stupendously successful Ace for urban and rural areas, …
Customer bills via email
Consumers love getting a receipt via email because they can instantly find it for a warranty, exchange, or expense report. But retailers see great results with email receipts as well. Each receipt that is emailed to a customer’s inbox is an opportunity to deliver personalized promotions and create an extra customer touch point. There is …
Private Labels, Category Management, and Key Account Management
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Planograms
The planogram is a visual diagram, or drawing, that provides in detail where every product in a retail store should be placed. These schematics not only present a flow chart for the particular merchandise departments within a store layout but also show on which aisle and on what shelf an item is located. A planogram …
Bettering a billion lives, India’s Unique ID System
Chairman of the Unique Identification Authority of India, Nandan Nilekani, said over a third of India’s 1.1 billion consumers had been largely overlooked in areas such as banking and social services. Speaking to business leaders gathered at The Nielsen Company’s Consumer 360 event in New Delhi, Nilekani said this had come about in part because …
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Pond’s toothpaste
Pond’s, the popular brand for cosmetics, applied its brand name to toothpaste releasing Pond’s toothpaste. Pond’s has done a blind test and people were happy with the toothpaste. So Pond’s thought it will extend itself into the toothpaste category. But when Pond’s actually released the toothpaste with the Pond’s name on it, it is a …
Culture Problems
In order to keep the same identity throughout the world, many companies stick with the same marketing campaign and brand message in every country. However, this occasionally creates difficulties as we see below: KFC in Hong Kong KFC’s ‘finger lickin’ good’ is used the world over to highlight the tastiness of the product. However, when …
Brand extensions – the dilemma of existing products
Often you see a great brand trying to come up with an extension and fail and some great brands extending their brand successfully. Maggi is a good example for successful brand extensions and Harley Davidson is a great example of brand extension failures. Let us see the hows and whys: Maggi is a brand which …
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Don’t sell concepts, build great products
One should understand that a concept is not a product. A concept is only one part of a product. Imagine yourself how many attributes you take care of when you want to buy a washing machine. Concept is all about how and what does the product do. But customers don’t buy products only by understanding …
Should we kill the villagers?
Following is a problem which I am not able to get to a justifiable solution. I would like to know the opinions/solutions of people on this issue. If a person harms people in the society, the Government arrests him as he is a threat to the society. But what if, there is a person who …
Brandalyzer 
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