PRL Research’s Advanced Analytics Group utilizes state-of-the-art analytical techniques to put your data to work for you. The end result is information and knowledge that help your brand target its customers more effectively, position it strategically, increase market share and build both brand equity and customer loyalty.
We will assist you every step of the way, from innovative survey designs to advanced analyses.
Our holistic approach also exposes the position of competiting brands and products, so that gaps in the marketplace are thrown up. In the end, we also identify the reasons why some customers select one brand over another, which open up opportunities that our clients can then fill in the unmet segments.
Through this methodology, clients are able to hone in their marketing through targeted advertising. Some of our clients have also been able to identify new product opportunities by discovering market niches with unmet needs.
Both our Key Driver and VOICE models provide you with actionable results, leading to a high Net Promoter Score.
Our construct is built around segmenting customers and non-customers into loyalty groups based on both psychological and behavioural measures. The outcome reveals the impact of both enablers and limiters to switching habits.
We have repeatedy used this tool in conducting various usage and habits studies into traditional and new media, fast moving consumer goods (FMCGs), and mobile telecommunications, respectively, with outcomes perceived by our clients as more superior to mainstream rating survey methods.
Customer Switching Behaviour
We employ a deep dive research theme to uncover the most likely triggers of switching habits, from taste to texture, from mood swings to cravings as well as other tangible instigators such as pricing, availability, seasonality, competition, quality, satisfaction, loyalty and many more influences.
Price Sensitivity Tests
The outcome is that clients are guided on how they should price their products or services, after determining whether the current price is too high or too low, or whether to create additional values to match existing prices. Also, our price elasticity studies guide our clients on the best market entry prices to use or whether to modify current prices as a strategy to increase market share and increase customer retention and loyalty.
Conjoint Value Analysis
The key value add in CVAs is that once tested, it is easy to identify those part worths that make a product stand out in the mind of a consumer, which the brand can leverage on for a higher market share. CVA is commonly used in differentiating luxury brands that have stood the test of competition over time.