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  • New record sales expected in the market for major domestic appliances
    • 08/30/17
    • Press
    • Retail
    • Technology
    • Point of Sales Tracking
    • Trends and Forecasting
    • Global
    • English

    New record sales expected in the market for major domestic appliances

    GfK findings for the global MDA market on the occasion of IFA 2017 in Berlin.

    • 08/29/17
    • Technology
    • User Experience (UX)
    • Global
    • English

    Taking an insights-driven approach to marketing smartphones

    It has been a full decade since the launch of the first iPhone, and it’s easy to forget that life used to be simple for smartphone manufacturers.

    Around the same time each year, consumers would wait fervently for the launch of the latest new gizmo. There was plenty of time to create hype, whether it was a large screen, water resistance, or a game-changing camera.

    But plenty has changed in the past decade. These days, marketers of smartphones have an increasingly tougher job.

    Here’s why.

    Not exactly “me too”. After years of playing catch-up in the technology department, smaller and newer brands have arrived while local brands are also expanding globally. Features on smartphones are becoming almost identical, therefore making it virtually impossible to stand out for having a “great product”. For example, although smartphones are priced according to categories such as mid and high range, most smartphone brands today offer a minimum full HD screen resolution of 1920 x 1080. In our POS tracking, we noticed that a majority of the smartphones purchased in ASEAN last year were phones with this screen resolution, although prices varied according to the brands.

    Longer is not always better. Consumers are keeping their smartphones for longer as telcos have halted short-term mobile phone contracts. This could mean that consumers are less likely to purchase new phones on a whim.

    Too fast too furious. With consumers keeping their phones for longer and new models being introduced to the marketplace at a faster rate, brands now have a shorter time window to effectively market their smartphones.

    And whilst you might think expensive smartphones might be slightly more protected against obsolescence, the reverse is true: our data in Asia shows that higher-priced smartphones have an average lifespan of just 14 months. Their cheaper counterparts? 16 months.

    What does this mean?

    A combination of all the above factors means one thing for marketers: reduced sales opportunities. This explains the trend towards short-lived advertising campaigns, focused specifically on new product launches. This also means there is less time for brands to deliver a margin.

    With the rapidly decreasing timelines and the stakes higher than ever, the success of your next campaign will depend on the effective use of market intelligence to communicate and market your products.

    To stay relevant, marketers will need to leverage all the tools at their disposal. For example, marketing mix modeling evaluates the marketing campaigns’ performance across different media channels – both online and offline. These crucial insights enable marketers to strategize and allocate the appropriate budgets to generate maximum return on investment (ROI). Research intelligence will also help to support a brand’s marketing goals in the short and long term.

    As the tech market is relatively mature, it makes it increasingly difficult for you to differentiate your products from those of the competition. Today, although it is still possible to promote just the features of a product, it is more effective for advertising campaigns to focus on product benefits and compelling brand experiences, to cater to “connected consumers”.

    As marketers, it is essential to determine what to advertise, but it is more crucial to understand how your target customers react to communications. Our research tells us that the contribution made by different media varies by industry and brands. For example, innovative tech products benefit more from digital media advertising instead of traditional media advertising. Apart from media channels, it is also vital to ensure that the format and timing of your campaign is aligned to your objectives – whether this is to boost sales in the short term or build brand equity for the longer term.

    In addition, through our POS Analytics, the sales impact and ROI of marketing activities can be evaluated using tracking data assets and advanced econometric modeling techniques, enabling brands to simulate the outcome of sales and marketing plans.

    Insights for marketing and sales success

    In today’s landscape, “connected consumers” are constantly seeking compelling experiences. To be successful, a product or service needs to be intuitive, usable and engaging while creating memorable experiences. With user experience research intelligence, brands can leverage user insights to improve their product design, concept and prototype, to build and sustain positive customer experiences.

    Additionally “connected consumers” are exposed to more advertising messages than before and have shorter attention spans. This makes it more important for brands to know exactly where, when and how to reach this group of audience. Here’s where marketing mix modeling, through a correlational analysis of sales and marketing campaign performance, can give accurate insights on synergies and ROI measurement across channels and media. By understanding exactly which of your promotions work, you have the full power to optimize your activity for each channel.

    Bjoern Kroog is Global Director of GfK POS Analytics. To share your thoughts, please email bjoern.kroog@gfk.com or leave a comment below.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Income Expectation again hits a record high
    • 08/29/17
    • Press
    • Financial Services
    • Public Services
    • Trends and Forecasting
    • Global
    • English

    Income Expectation again hits a record high

    GfK forecasts an increase in consumer climate for September of 0.1 points in comparison to the previous month to 10.9 points.

  • Alessandra Cama leaves GfK
    • 08/25/17
    • Press
    • Global
    • English

    Alessandra Cama leaves GfK

    After working about two years as member of the Management Board of GfK, Alessandra Cama will be leaving the company.

  • Garden centers should target people in their thirties and households with children under 12, according to GfK data
    • 08/25/17
    • Consumer Goods
    • Home and Living
    • Market Opportunities and Innovation
    • Trends and Forecasting
    • Global Study
    • Global
    • English

    Garden centers should target people in their thirties and households with children under 12, according to GfK data

    Nearly a third of the online population across 17 countries does gardening or yard work either daily or weekly, according to data just published by GfK. This includes a quarter (24 percent) who garden at least once a week, and a further seven percent who garden every day or most days. In contrast, 24 percent say they never do gardening.

  • dmexco 2017: Register for GfK Expert Talks
    • 08/24/17
    • Technology
    • Connected Consumer
    • Global
    • English

    09/13/17 - 09/14/17
    dmexco 2017: Register for GfK Expert Talks

    Join us at this year's dmexco in Cologne on September 13 & 14 in Hall 8.1/A-011.

    • 08/24/17
    • Online Pricing Intelligence
    • Promotion and Causal Retail
    • Global
    • English

    The first three steps to getting your online pricing decisions right

    With saving money the number one reason that consumers shop online, retailers need to ensure they maintain the right price position. This involves a careful balancing act if you are to stimulate sales without any loss of margin. But you can manage this successfully if you get six core activities right. We take a quick look at the first three of those activities here…

    One: Track the right things, not everything

    You don’t need to track all of your competitors’ pricing and promotions activities to meet your pricing objectives. It is far better to focus your resources on tracking those pricing and promotions activities that can have the greatest impact on the performance of your business.

    Two: Benchmark your pricing against the market

    Pricing activity may happen at a product level, but tracking the price position of your full product range across categories using a pricing index is important. For this will enable you to ensure your price position compares favorably to the rest of the market. By evaluating pricing at both a product and category level, you can identify any price shifts and their potential influence on your price position early.

    Three: Make sure you are basing your pricing decisions on data you can trust

    Ensuring the prices of your specified products are benchmarked against all relevant competitors is a real challenge. Particularly when product descriptions and attributes can vary significantly across retailers. The accuracy of this matching process is key to the success of any pricing strategy. With data you can trust, you can better direct pricing decisions and negotiate with your suppliers to drive immediate value for your business.

    Connected Consumers’ ability to check prices whenever and wherever they choose using different devices has made it difficult for retailers to effectively manage their online pricing. To remain competitive, you must identify those pricing and promotions activities of your competitors to track. You need to examine your price position in the context of the market. You must also ensure you are basing your pricing decisions on the right data. But pricing decisions don’t simply end there, there are several other factors to consider that can drive your bottom line which we will explore further in our white paper.

    The positive impact on your revenue and profit of making the right pricing decisions can far outweigh your investment in the processes and services that support these decisions. The winners in the new retail battleground will be those that utilize pricing intelligence to get their online price position right.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Power to the iBrains: Identifying future consumer needs to anticipate demand
    • 08/24/17
    • Fashion and Lifestyle
    • Connected Consumer
    • Global
    • English

    Power to the iBrains: Identifying future consumer needs to anticipate demand

    Understand how to conquer tomorrow's connected shoppers

  • Driving media effectiveness through predictive modeling
    • 08/24/17
    • Consumer Goods
    • Point of Sales Analytics
    • Global
    • English

    Driving media effectiveness through predictive modeling

    Our insights help a leading European manufacturer improve return on investment from media and marketing.

  • Virtual reality meets traditional research: GfK @ ESOMAR 2017 congress
    • 08/24/17
    • Technology
    • Automotive
    • Global
    • English

    09/11/17
    Virtual reality meets traditional research: GfK @ ESOMAR 2017 congress

    How big a role can VR play for the market research world and what are the potential benefits?

  • 9 reasons to work with GfK
    • 08/24/17
    • Global
    • English

    9 reasons to work with GfK

    We are one of the world's largest market research companies. Over 13,000 employees deliver insights into how people live, think and consume. But what makes us unique? Find it out right now.

  • Supporting a smartphone manufacturer’s new sales channel strategy
    • 08/23/17
    • Technology
    • Point of Sales Tracking
    • Global
    • English

    Supporting a smartphone manufacturer’s new sales channel strategy

    Our insights helped our client define the right strategic mix of products, pricing and distribution strategy for its launch into a competitive market.

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