About Us
Since its inception, Target Research Group (TRG) has done incredible work in the field of marketing, industrial and social research. TRG is a group started by MBA Professionals that has a nation-wide network. We are expert in marketing and social research, central location testing, product testing, organization of group discussions and other related spheres.
Our Services
We, at TRG, are well equipped to handle a vast range of activities in the field of marketing, industrial and social research. Our main areas of activity can be divided into the following categories:
Research Study - consumer / industrial / social / environmental
Marketing
Group Discussion
Product Testing
Central Location Test (CLT)
Product Placement
Opinion Research Poll
Observation Study
Telephonic Study
Forced Exposure Test (FET)
Depth Interviews (DI) / one-to-one
Track Studies
Concept cum Use Test
Moreover, we also work in other areas as desired by our clients.
Why Market Research
It is usually said that if marketing would be a train, then market research would be the locomotive. In other words, market research should ideally be the starting point of any marketing exercise. Conducting any marketing exercise - be it related to pricing, promotion or distribution of a product or service, without researching the potential market is as sensible as setting out to sell sand in the Sahara Desert.
Market research provides the answers to all the questions that generally occupy the minds of marketers, at every stage of the marketing process.
· Will there be a demand for my product or service ?
· What should be the ideal price of my offering - one that ensures that I earn the maximum profit ?
· Should I place my product only in urban markets or distribute even in the rural areas ?
· What should be the preferable media to promote my offering ?
· Would it be better if I replaced the pale green packets with bright yellow ones ?
· Is the fourfold growth in my sales figures a consequence of our latest television commercial ?
· How satisfied are our customers with the after sales services we provide ?
· What image comes to the minds of consumers when the hear our company's name ?
It's really crucial to understand your target market before undertaking any marketing exercise, unless you don't mind risking your hard-earned money and precious time on activities that might not get you the results you want.
Simply put, ignoring market research before marketing is synonymous with firing a shot in a pitch dark room, and still hoping that the bullet hits the bullseye.
Advertising, promotion and media research
Advertising Research
Advertising research derives its importance from the fact that today, a huge chunk of any organisation's marketing expenditure is spent on advertising. Where a good advertisement can do wonders to an organisation's topline, a bad one can tarnish its image for several years to come.
The advent of globalisation has actually left only nominal significance for national boundaries. The incorporation of practices and beliefs typical to foreign cultures has taken place at a rather fast pace. Our preference for cholle-bhature and idli-dosas has been subtly replaced by that for burgers and pizzas, thanks to the McDonaldisation of India. All this has posed a great challenge for advertisers, and this is precisely where Advertising Research comes in handy.
Promotion Research
Promotion has been defined by many marketers as the most significant of the four Ps of marketing. A marketer may create a great product, price it reasonably enough and place it in outlets all over the country, but unless he has promoted it well, or in other words, created an awareness about all that he has done, the consumer would not even ask for it.
Promotion refers to all the non-advertising activities carried out to build awareness or a favourable image about a product or a service. Typically, promotions include exhibitions, trade fairs, contests and road shows. Promotion Research helps an organisation foresee the outcome of all such activities it wishes to undertake.
Media Research
Often interpreted as being synonymous with audience measurement, particularly in the case of newspapers and magazines, Media Research is much more than that.
· Customer satisfaction research
It is very important to establish the customers' perception of the quality of product and service provided. It is a known fact that customers rarely complain - they just don't come back. Customer loyalty is considered to be worth ten times the price of a single purchase, as a loyal customer will return to make further purchases. Moreover, researchers claim that if a customer doesn't like the product or service, he will tell on an average eleven more people. This illustrates the importance of ensuring customer satisfaction.
Customer satisfaction research is an increasingly becoming an essential ingredient in any program aimed at maintaining, if not increasing the customer base and revenues, enhancing brand value, etc. Conducting customer satisfaction research through a third-party has the advantage that the responses obtained are more reliable, as the respondents are more frank with a third-person. This is because in the case of third-party research, the customer-vendor relationship does not get affected.
Customer Satisfaction analysis is done by an independent, specialist unit of It has many proven methodologies and processes for customer satisfaction research.
Channel and retail research
Mystery Shopping
Millions of dollars are spent by marketers to create a favorable image of customer service and satisfaction. But is this what the consumer actually sees ? Are the company personnel adhering to policies laid down by the company on sales and service norms ? Are they performing according to the set standards ? What is the shopping experience ? Is the store maintained to the specified standards ? At what price are my products being sold, what is the level of undercutting by the competition?
The use of mystery shopping is the best, most objective way to gain information on customer service and satisfaction, condition of the store / showroom, and employee performance across locations. The use of mystery shopping services also provides the opportunity to covertly examine the performance of competitors, and the operative prices for competition.
TRG provides full-service mystery shop services that include operational, incentive-based, competitive, and telephone-based mystery shopping.
Location Research
In order to beat competition, marketers have to constantly look for differentiators, which can make their brand 'visible' and 'acceptable' to the consumer. Till recently, product and price were the sole differentiators. Over the years, brands have realised the significance of 'point of sale' as a brand building tool. The role of the store is thus getting redefined. Also, with retailing in itself becoming important and India getting ready for its share of WalMarts and K-Marts, 'location' has become a key factor to reach consumers.
TRG provides custom made solutions to meet your location related requirements
Product and Packaging research
Product Tests and Clinics
Product testing is one of the most valuable marketing research that companies undertake. Product Testing can be used to :
· Test the fit between the concept and the product
· Achieve product superiority over competitive products
· Continuously improve product performance
· Monitor the potential threat levels posed by competitive products
· Cost-reduce product formulations and/or processing methods, while maintaining product superiority
· Provide guidance to research and development in creating new products or upgrading existing products
· Monitor product quality from different factories, and from different channels of distribution
· Predict consumer acceptance of new products
The monadic, sequential monadic, paired-comparison, and proto-monadic are the most widely used research designs for product testing.
TRG has the experience and is well equipped to handle any product testing requirements.
Concept Tests
If you are thinking about introducing a new product or service, you would be looking for several answers before committing substantial resources to the same.
· Which concept is the winner?
· What potential attributes or features of your new product or service are most appealing? Which are least appealing?
· How should the product or service be priced to maximize revenue?
· How should the product or service be positioned relative to competing products or technologies?
· What population segments are most likely to buy your product or service? What communications media are most likely to reach those market segments?
We can answer these questions, and more to help you take the decision whether to go ahead with the concept or revisit the same.
Packaging Research
Package graphics and copy are critical marketing variables in many product categories.
In a way, the package on a shop shelves provides the last opportunity to influence a consumer. The better the package design and copy, the greater the likelihood that consumers will choose that brand. Any new package design, or significant change in an existing package, should always be subjected to the scrutiny of objective consumer feedback.
Strategic Market Research
It is taken for granted that most research needs are tactical and specific, but a few business issues exist in a vacuum. Because we understand and have worked for years throughout the business processes, we can supply insights and strategic solutions that are more relevant and actionable. Whether we provide research in just one area or guide innovation from concept inception through market introduction, we're committed to success and profits... yours.
Concept :
All successful products start with an idea and a potential business/consumer market. Sometimes these are as sketchy as "people want more convenience," but more often the ideas and the markets are fairly well defined. This definition is what guides the development and ensures that the resulting product or service will stay true to the original vision.
TRG can play an important role in this stage by helping to establish a clear understanding of the market, clarifying or deepening the development team's grasp of key topics and providing feedback and information on initial concepts. Investment at this stage indicates a strong commitment to "getting it right."
· Understanding Consumers :
Most successful products and brands start with a focus on consumers. After all, they are who will decide the ultimate success or failure of any market introduction. But "know your customer" means more than just gathering data. It means recognizing customers as a dynamic, evolving force. It means developing a "gut feel" that helps you think like they do, that helps you anticipate how they'll change and how they'll stay the same. You can't constantly be testing at every decision point, so you have to learn to think like they think.
There are many approaches to understanding consumers. The best offer a "real world" perspective, focusing on people's behaviors, attitudes and environments.
· Investigating market :
Fully understanding a key topic or market is an excellent way to start a project. These investigations can provide fundamental knowledge about opportunities prior to investing significant time and money in product development. Market mapping, demand estimation and feasibility studies are the one TRG pioneered in. The shared learning and guidelines from these investigations can establish a common language and viewpoint particularly important for collaboration and teambuilding.
· Developing concept :
There are millions of good ideas that are developed into thousands of products and services every year. Most of them fail, miserably. Many of them could succeed if they just got the details right. But, in an effort to get to market quickly or to conserve money, product developers often skip research or do only cursory studies with a few consumers. Product development research can be very efficient and very cost effective, particularly when you compare it to the cost of failure.
Development :
In an ever-dynamic market what success takes is more than a good idea. It requires the development of a strong, unique personality that grabs attention and motivates customers. It requires the right mix of features and benefits and the right balance of price and value.
TRG can help create and refine all aspects of product development, working quickly and in line with the demands of rapid development cycles.
· Refining product/ service :
Once in awhile, a product or service is such an innovation that it doesn't matter what it looks like or whether or not the maker got the details right. Most of the time, this is not the case. Most of the time, the look and feel of the product is extremely important and getting the features exactly right is the difference between a success and failure.
· Positioning :
There are several stages to developing a strong identity. A typical starting point is the creation of a positioning strategy. This is the "story" that your product or service conveys and is the foundation of all communications.
· Naming :
The selection of a name usually follows the development of a positioning strategy. While one of a name's primary functions is to identify a product or service, it must also communicate and motivate. An effective name conveys favorable associations about the product or services it represents. It is the hub of the package and the key to promotion or advertising. It has psychological connotations in relation to the product's perceived quality, character and price.
· Visual Identity :
The most effective means of creating an identity or "personality" for a product or service is through visual elements-primarily, the brand logo and graphic imagery. These visual elements can add emotion and dimension to the product or service's identity and will guide all other communication elements, including packaging, merchandising and advertising.
· Web interface :
The interface of a website is very similar to a software package. Visual elements need to communicate and guide usage in a concise, easily understood manner. Color, shape, layout, and functionality can all be used to inform users and create a satisfying experience.
Usability research can help designers and developers see interfaces the way their users see them. It can help eliminate confusion, increase intuitive usefulness and ease navigation and increase trust. By understanding the hierarchy of information required by users, research can often provide very clear direction on what needs to visible and what can be nested.
Communication :
Many products and services have gone to market with great ideas and strong consumer potential, only to fail quickly. More often than not, the reason is poor communication elements. The packaging was unattractive or generic; the ads were boring or misleading; the promotions were irrelevant; the merchandising was confusing; cultural nuances were ignored.
TRG can help ensure that the message a product or service is intending to send to consumers is actually what they perceive. In addition, multilingual insights can guide you around potential linguistic and cultural minefields.
· Packaging :
It is very tricky to research packaging elements. One is rarely be able to do this through direct questioning. And even when one can, it's important to understand the response thoroughly and in context. Although it may seem like overkill, well-executed research at each stage can make the difference between "ho-hum" and "home run."
· Advertising :
A great product or service with a strong identity and excellent packaging can still miss the mark if no one knows about it. Ideally, advertising presents consumers with an offer they want or a message to which they can relate, communicated in a way that motivates them to action.
Advertising campaigns are routinely researched to ensure that their intended messages are getting through to the right audiences. That's the problem - the testing is routine. Strong, creative messages need customized research to make sure that novel approaches get the consideration they deserve and that new offerings are not lost in the clutter.
· Refining communication :
Most successful products and services communicate with consumers in many different ways, including brochures, newsletters, mail order catalogs, direct mailings, websites and promotional offerings.
Research is a straight forward means of learning which modes of communication are most effective and motivating for consumers. Rather than being ignored and "tossed," well-researched communication pieces can actually improve a product or service's chance of succeeding in a crowded market.
· Merchandising :
Everything that surrounds a product can help or hurt its chances of succeeding. An effective merchandising strategy draws consumer attention to the product and enhances its appeal. Ideally, it highlights key selling points or special information that consumers will value and presents the products in their best light.
Research can offer design guidance for shelf displays, electronic merchandising, floor display, caps and other types of merchandising prior to investment in expensive tooling or small production runs.
Relationship :
Most truly successful products and services - those that last for decades or even centuries - realize that they are in a long term relationship with their consumers and act accordingly. This means they stay in touch with their customers to learn what they like and dislike and how their perceptions and behaviors change over time. They track trends and changes in the culture and modify their products and services as necessary.
TRG can help provide a very effective on-going link to consumers and markets, impart a deep understanding of market and consumer changes, and help ensure that redesigns are actually better than the original.
· Customer Tracking :
A successful product or service only stays that way with careful tending. Monitoring consumers' experience of a product or service and acting on their concerns is crucial to a long market life.
Research that studies the consumer experience of a product or service is usually called Customer Satisfaction research. Usually asks customers to rate their feelings and perceptions. Unfortunately, this just scratches the surfaces and often leaves the best suggestions hidden under a pile of numbers. But TRG follows Walker Information models, which are more than just scratching the surface.
· Trends :
Even a cursory look at consumer culture over the past few decades reveals a constant stream of minor changes that, over time, amount to major change. Tracking and understanding cultural trends can help you anticipate change upon which you can create or enhance products and services.
Trend research studies the past, the present and the foreseeable future, looking for patterns that foreshadow cultural evolutions.
· Redesigning :
While consumers are generally resistant to dramatic changes, they are just as resistant to the lack of change. Not changing, becoming dated or less relevant, can mean sure death to a product or brand. Losing consumers in this way is possibly even more expensive than not finding them in the first place.
