Category improvement research is an important part of strategy development because it offers a comprehensive product evaluation by incorporating internal sales and financial performance analyses with customer and market feedback.
Category Improvement Research:
- Measures purchase frequency for product categories
- Investigates competitive shopping share for specific categories
- Establishes category purchase motivators (breadth, price, depth, brand, service requirements, etc.)
Category Improvement Research allows you to:
- Align your product mix to changing customer needs
- Develop a truly market-driven product expansion strategy
- Refine and enhance your core product categories
- Define your “signature categories” that are central to your brand
- Respond to competitive developments in your markets
Category improvement research provides the information you need to have the products customers want. It also makes it possible to sell more to your existing customers and extend your reach to new customers.