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IPSOS ASSIGNMENT

SUBMITTED BY:
KANAV GUPTA
17PGDM150
OBJECTIVES OF THE CASE

1. Understanding the current market environment, market size, business and growth potential
products in India.
2. Identify white space (segment) for the company with respect to opportunities for future growth and
expansion in terms SKU size, geography and value, product segment and category, target customer
group etc.
3. Understand the market construct – local brands and imported, key players and their value
proposition Study the customer needs – products bought, place of purchase, purchase channel, key
criteria considered, replacement cycle, average spend etc.
4. Key trends and drivers in the market
5. Develop value proposition with growth strategy and action plan for the company.

MY APPROACH TO THE CASE:


Q.1 What is the approach you would take to meet the objectives (step by step)?

A.1 A multi layered market research will be carried out to meet the above objectives.
A) Understanding the current market marketing environment:
Whenever, entering a new market , It is imperative for any business to have an idea about the current
market scenario , primarily concerning-
 The existing players
 The products offered by them
 The consumers in the market
 The underlying PESTEL framework of the market.

These can be achieved by using:

Secondary sources of data: Industry reports like reports published by ASSOCHAM , various research
institutes like Indian statistical institute, that help us to get economic data on pertaining to the market
we are proposing to enter.

Survey: the surveys can be used specifically to understand the consumers in the market. Various factors
like their demographics , income levels , personalities , behavior patterns can be analyzed and inferred

B) Understanding needs of current customers & conducting need gap analysis:

This is a 2 step process-FIRST, We gauge the needs of the existing consumers in the market, then
conduct a Need –gap analysis to infer whether their needs have been satisfied with the current products
or not. This can be achieved by:

1) Primary qualitative data collection : Here focus is to get qualitative data from the customers
pertaining to their needs, expectations and aspirations from the skin care products, and to what
extent these have been fulfilled by the current breed of products. Various techniques include:
 Focus group discussions: conducted with existing customers, preferably in groups of 10,
to get various insights about the usage of skin care products
 Projective techniques: These are used to get a deeper understanding about the
underlying beliefs of the consumer perceptions and belief about the products.
 Observation: Observing customers in their natural environment (Eg. MALLS) while
shopping, to het an insight into their buying behavior.
2) Secondary sources : Here published sources like magazines(FEMINA for example) are used to
understand current demand patterns of customers

C) Scope for innovation or new products:

After conducting need-gap analysis, the company will have a fair idea whether there is scope for new
product in market, or whether it is preferred to go with existing products. For skin care products this
could be the difference between launching a fairness cream with a new chemical or launching the same
cream but packaged innovatively

Answer 2) The product range is skin care products. Thus, the main stake holders that I will be interacting
will be:

A) Female existing users: The personal care segment is projected to grow to USD 22.5 million by
2020. Female user being the prime drivers of this segment are the major stakeholders
B) Male existing users: Their share in this segment has been rising consistently over the past
decade, and thus they should be tapped for future growth
C) Experts: Various experts , who can guide on the current and future market trends, are to be
contacted for an effective understanding of this market.

ANSWER 3) The data insights I will be relying upon are:

 The current competitors and their market shares


 The future potential of this segment
 The existing consumer satisfaction levels
 The segments of customers that are the primary drivers of skin care segment
 The changing demographic and lifestyle trends that are increasing the size of existing customer
segments and helping in bring new class of customers also

Answer 4) The geographies that I will be covering will be depending on the scope of the study and the
budgeted allotted . Although, a study of various tier 1,tier2, tier 3 cities in major skin care products
consuming states will be recommended

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