Identifying and studying the preferences, attitude and behavior of consumers in a competitive economy is the prime objective of BDB’s Consumer Goods Market Research. White Goods, Brown Goods, Kitchen Equipment, Building Management Products & Services, Air-conditioning Equipment, Consumer Durables, Home Decorating & Architectural Products, Interior Designing Products, Stationary Products and Personal Healthcare Products are the main areas of the research and studies (Qualitative and Quantitative).
Studies dealing with trends in the domestic appliances market, understanding the consumer expectations and buying behaviour are BDB’s greatest strengths.
BDB’s wide range of experience in consumer durables includes carrying out strategy consulting assignments in the field of refrigerators, washers, fans, car air purifiers and air conditioners, window and split air conditioners, ventilation products, products for intelligent buildings, paints, furniture, watches, locks & latches, door closures, laminates, wooden flooring, light fittings, modular switches, cutlery, knives & scissors, modular kitchen appliances, wiring accessories, to name a few.
Some examples of BDB’s assignments dealing with analysis of new products are :
In the domestic appliances industry market research, BDB has had the privilege of working with successful MNCs to analyse the market demand, customer perceptions and market entry strategies in India.
For many of them, BDB has developed a market entry strategy for new products.
Consumer expectations are changing, the aspirations of dealers and retailers are changing, the channel of distribution is becoming complex and there is a clear differentiation of market experience in different regions of India. The consumers are getting opportunity to use and experience new products.
For each assignment, the methodology varies because these are all customized research analyses.
For instance, to study the demand dynamics and trend, a cross section of existing and potential customers will be analysed in urban, semi urban and rural markets. Along with the consumers, inputs from channel analyses are also a part of this study.
Thereafter, the trend in consumer spending, lifestyles and their exposure to different markets is also factored into the overall analysis.
For new opportunity areas, each opportunity is thoroughly investigated quantitatively and qualitatively so that BDB’s client has a complete picture as well as flavour of the opportunity – both existing and emerging. These analyses involve interviews with retail trade, influencers like architects and interior designers, property developers and contractors.
For market entry studies, BDB begins with detailed market research for the identified products, evaluates current and potential demand and then identifies locations for setting up the project. Based on these inputs, BDB conducts a techno-economic feasibility study.
At conclusion, the output of such market research studies comprehensively results in an incisive and fail-safe Growth Strategy Recommendation Document.
BDB has assisted in setting up new projects, in acquisitions, in testing new ideas, in evaluating markets and brand equity, measuring customer satisfaction as well as in conducting pre & post launch studies in India and across the globe. BDB has also conducted assignments in the expansion of existing businesses.