-
Able to identify the nonperformers in the existing product line
-
Successfully retained the best product attributes
-
New product combinations boosted the sales
CLIENT CHALLENGES
- A market research company supporting a US-based FMCG firm approached Acuity Knowledge Partners to help it identify existing product attributes in the product line, such as flavors and sizes, that were not adding incremental reach
- The client also wanted to optimize its new product line, while retaining only the best product attributes to maximize market share and sales
- The client also wanted to determine the reach and frequency of different combinations of product line
OUR APPROACH
- Acuity Knowledge Partners performed a TURF analysis to identify the best product attributes
- Data Analysis
- The client shared survey data designed to capture responses of consumer preferences for all 10 product attributes on a binary scale (would buy/would not buy)
- The Acuity Knowledge Partners team gained an understanding of factors such as demographics, purchase frequency and consumer preferences
- TURF Analysis
- Performed a TURF analysis to create an optimized model and to identify the smallest number of product attributes in the product line that reaches the maximum number of unduplicated customers
- Determined the best product attributes and prepared a consolidated summary of customer preferences
- Analysis Results
- Compiled a combination of 4 of 10 product attributes with the highest chances of appealing to a potential customer
- Identified the product line that would appeal to 84% of respondents (i.e., the one with the widest customer reach)
IMPACT DELIVERED
- This exercise helped the client to:
- Recognize the most preferred product line, to maximize the company’s customer reach
- Understand that 84% of respondents were very likely to purchase a combination of such products
Thank you for sharing your details
Your file will start downloading automatically
If it does not download within 1 minute,
Share this on
