Manufacturing Market InventoryExample Survey Results

2

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.

3

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

4

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.

5

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?

6

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

7

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.

8

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.

9

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.

10

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

11

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.

12

 David KnightVice President of Sales

dknight@fgiresearch.com585-582-6362

Our Blog: http://info.fgiresearch/blog

Our website: www.FGIResearch.com

Contact Us