Download - Manufacturing Market Inventory Study
Manufacturing Market InventoryExample Survey Results
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The Manufacturing Market Inventory
FGI’s Manufacturing Market Inventory (MMI) is a comprehensive analysis of how consumers view, choose, and use products in specific categories. This presentation provides a high-level view of the types of output our clients can expect from the study; the actual analytical report is highly detailed and highly actionable.
Consumer goods manufacturers use this study to fortify their case in line reviews with retailers, optimize their marketing and messaging strategy, and understand what product features drive trial, repeat purchase, and loyalty. The survey results are intended to be viewed through the prism of a consumer segmentation model, which is a key deliverable of the MMI. The segmentation model provides a glimpse into consumer behaviors and attitudes that are unique to you, helping you build your case to retailers’ buyers.
The MMI is not a syndicated, off-the-shelf research product. While the basic structure of the survey is similar, each MMI is specifically customized to a single product category—yours. The results of the study are proprietary to you and are never published or shared outside your organization. You will learn how your brand stacks up against those of your competitors in the features that matter to consumers. It will show you what you need to improve, and will show where your competitors are weakest.
Most importantly, the MMI offers insights into what your organization can do right now to increase your shelf presence and sales. It helps you identify, quantify, and prioritize product enhancements, marketing, and messaging.
The MMI helps you win.
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114,000,000
34,200,000
Households in the United States
25% bought products like yours in the past year
Total potential US market for your
products:
34,200,000 households
5% more say they plan to buy in the upcoming year
The MMI estimates the total current and projected market for your product category.
How big is our market?
How are my potential customers segmented?
Target the segments most likely to purchase your products and increase the efficiency of your ad buys and messaging. See how channel usage differs for target versus non-target segments.
Home Theater 2
Brand 123
Discount Depot
Home Theater
0.0% 10.0%20.0%30.0%40.0%
Where do people shop for products like mine?
Understand precisely where consumers shop for and buy products like yours.
25%
19%
18%
38%Pro-fes-sionals
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HJ
Brand
Brand A
You
Brand C
Brand
Brand D
Brand E
Brand F
Other16%
17%
24%
27%
41%
65%
65%
75%
Higher awareness equals higher sales. How does awareness of your brand compare to that of your competition? Does awareness differ based on channel preference?
Do people know about my products?
Big Box
LocalStore
Home Ctr
58% 75% 68%
How many people prefer my brand?
Aware: 75%
Used: 30%
Preferred: 10%
The brand funnel is a measure of the strength of your advertising, your messaging, and your targeting. It also begins to quantify the gap between awareness and usage.
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East North Central
Top of mind 5% ++Total unaided 8% ++Aided 70%
Middle Atlantic
Top of mind 4% ++Total unaided 7% ++Aided 66%
Mountain
Top of mind 3%Total unaided 5%Aided 65%
New England
Top of mind 7% ++Total unaided 10% ++Aided 67%
Pacific
Top of mind 3%Total unaided 5%Aided 62%
South Atlantic
Top of mind 4%Total unaided 6%Aided 64%
West North Central
Top of mind 6% ++Total unaided 11% ++Aided 70%
East South Central
Top of mind 4%Total unaided 7% ++Aided 72% ++
West South Central
Top of mind 0%Total unaided 3%Aided 56%
Where is our awareness strong?
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How do consumers use my brand?
Usage patterns are quantified inextensive detail. This includesfully understanding how and whenyour products are used, how muchyour customers spend on products like yours, in what quantities and how frequently they buy, and more.$95.85
$24.89
$48.75
$131.54
$152.86
Annual Spend
Segment 1 Segment 2Segment 3 Segment 4Total Sample (n = 1,501)
Other
Type G
Type F
Type E
Type D
Type C
Type B
Type A
1%
18%
19%
20%
21%
31%
37%
76%
Product types used
Brand usage by segment
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Brand A Brand B YOU Brand C Brand D Brand E
35%31% 35%
25%8%
5%
Aided Awareness
0.55
0.57
0.56
0.45
Awareness/Usage Gap
Market Average:
0.62
A/U Gap
What’s the gap between awareness and use?
0.75
0.82
A small gap between awareness and usage means you should focus on audience reach. A large gap says you should overcome specific barriers.
Barrier High + Low - Share Prob %
Learning curve 37 33 21% 33%
Bad reviews 34 31 16% 26%
Tool weight 32 32 14% 22%
Perceived quality 34 35 12% 17%
Country of origin 30 34 9% 24%
Price 32 31 8% 15%
Features 34 34 8% 30%
Color 35 35 7% 34%
Packaging 33 36 5% 24%
High + Highest PositivesLow - Lowest NegativesShare Share of PreferenceProb % Probability of Choice
How do I close the awareness/usage gap?
MaxDiff scaling is one way to measure barriers to consumer purchase reluctance.
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HJ
J
J
Brand A
YOU
Brand B
Brand C
Brand D
49%
78%
48%
70%
69%
51%
22%
52%
30%
31%
Buy whatever available Leave the store
Will consumers actively seek out my brand?
If your product was not immediately available, some consumers will leave the store to find your brand elsewhere. This important measure of loyalty is the “walk rate.”
J
Brand A
Brand B
Brand C
YOU
Brand D
41
5
17
27
28
1-6
Detractors
7-8
Passives
NPS
9-10
Promoters
1 Reichheld, Fred. The One Number You Need to Grow. Harvard Business Review, December 2003.
How important is word of mouth?
The Net Promoter Score1 is a frequently used measure of brand loyalty.
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Other
Internet
Product label comparisons
Recommendation from a family
member
Point of purchase information
Information from store clerk
2%
5%
13%
13%
26%
29%
2%
4%
12%
20%
22%
45%
Local StoreRetail
How are consumers influenced to buy?
Pinpoint the right place, time, and method to get information into consumers’ hands based on their preferred purchase channel and overall.
HJ
J
J
Total
Segment 4
Segment 3
Segment 2
Segment 1
58%
62%
36%
73%
55%
42%
38%
64%
27%
45%
WHILE IN THE STOREBEFORE LEAVING HOME
Men 62/38Women 62/38
Men 75/25Women 69/31
When do consumers make their purchase decision?
Knowing when consumers make their purchase decisions helps you target your messaging and advertising.
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SECONDARY WEAKNESSES
COMPETITIVE STRENGTHS
0.400 0.420 0.440 0.460 0.480 0.500 0.520 0.540 0.560 0.580 7.4
7.6
7.8
8.0
8.2
8.4
8.6
8.8
Easy to use
Impact resistance
8.6
8.2
8.6
Works the first time
Light weight
Color
ImportanceLow High
Perf
orm
ance
Low
Hig
hWhat drives satisfaction or purchase intent in this category?
Know which product features are important drivers of satisfaction and purchase intent.
SECONDARY STRENGTHS
CRITICALWEAKNESSES
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About FGI
At FGI Research, we specialize in serving you, a research or marketing professional, who relies heavily on serious market research for their personal and organizational success. Unlike many of today’s tool-based, do-it-yourself companies who create more work and uncertain outcomes, FGI Research is accountable for your research deliverables.
With our full-service market research team, marketing science experts, and our products like online surveys, custom-built consumer panels, and online communities, we use quality data to solve your “right now” problems or to assist in your long-term goals. Gain market share, monitor satisfaction, test new products and services, collect data, hear from your customers, maneuver around your competitors, or launch a targeted marketing campaign.
We’ll put our more than 30 years of market research experience to good use.
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David KnightVice President of Sales
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