Case 5: Am I Doing What My Clients Want? Are My Clients Satisfied With My Product?
Problem: A national manufacturer wondered whether what he was doing was enough, or if there was something different he could do to better meet customer demand. While he had internal sales data going back 25 years and an intuitive understanding of his customers, he was not sure if things could be done differently or more effectively.
Process: Nova Research Group conducted a series of studies involving both his current and prospective clients, as well as his competitors’ clients. Based on this research, we developed a perceptual map of customer expectations and their ranking of his products — as well as those of his competitors — along key dimensions.
Outcome: The perceptual map provided an accurate, quantitative estimate of customer perceptions of the client’s products. This was used to develop a strategic marketing plan that involved redirecting resources toward initiatives that were important to customers but where the client was currently underperforming. Subsequently, we conducted a conjoint analysis to determine the optimal mix of product features and pricing that prospective customers desired, enabling the client to make data-driven decisions about product development and positioning.