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Product and service Research

Several research projects may be included in this category as follows:

(i)    Research on competitiveness of the company’s products in the industry. For example, a study on the market share controlled by M/s Hindustan Lever Ltd, in toilet soap business vis-à-vis other competitors like Godrej, Reckit Coleman, Proctor & Gamble etc.

(ii)    Research on economic aspects including research projects on economic trends in industry sales and its relationship with company sales. For example, a study of sales trends of toilet soaps by M/s Hindustan Lever Ltd., as compared to toilet soap industry sales trends. This helps in forecasting the sales.

(iii)    Research on consumer acceptance of company’s products and services as compared to similar products of competitor. For example, studying the market acceptance of personal computers manufactured by HCL as compared to other competitors.

For example, how well consumers like and accept vegetable ghee brands packed in tin as compared to plastic packs (Acceptance of Rath and Dalda when sold in different packages designed by manufacturers M/s DCM Ltd., and M/s Hindustan Lever Ltd. respectively.)

(iv)    Research on present and potential customers of company’s products and services. Sales increases when advertising is done to attract customers on added qualities of the product. For example, to study whether the sales of vegetable refined oil is increasing tremendously because people are getting more and more aware of the harmful effects caused by vegetable ghee.

(v)    Research on customer images, attitudes, wants, needs, values, motives, desires, usages, and similar other behavioral aspects useful in marketing. For example, a study on consumer attitudes regarding the quality of Colgate toothpaste as compared with other breands of the toothpaste like Pepsodent, Prudent , Cibaca, Forhans etc.

(vi)    Research on causes and extent of customer dissatisfaction with company’s products, sales of which are speedily declining. For example, a study on declining sales of loose material products as compared with packaged ones like salt, flour, sugar, etc.

(vii)    Market testing of proposed products of a company. For example, a study on the market acceptance of a newly launched glycerine toilet soap, viz., “Himani”, to know its marketability as compared to established breands like pears.

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