In market research, researchers need to determine the market research tools. There are different types of tools used in market research, including interviews. On interviews, all questions are usually composed and asked by the expert…
How Many Types of Retail Audits Are There?
The Retail audit is of a company’s efforts to understand its operational performance. It requires the company’s representatives to collect data on the brand’s products in the retail stores. Furthermore, it ensures that retailers are…
How to Check In-Store Visibility through Auditing?
In-store visibility is part of the important factors that drive sales in the retail sector. Moreover, how your products are displayed and whether they are attractive to consumers or not are part of in-store visibility…
What is a Loyalty Program? How Does a…
What Is a Loyalty Program? A loyalty program has become very common these days as part of the marketing strategies. It means to encourage customers to return to the store and make purchase frequently. It…
What Are Focus Groups? How to Set Up…
When conducting market research, researchers need to understand their target market’s opinions, needs, and problems. In order to accomplish this, market research can set up a focus group discussions. They help to provide information that…
Socio-Economic Classification
The Socio-Economic Classification (SEC) was created in 1988 and ratified by the Market Research Society of India (MRSI). It refers to the classification of Indian consumers according to the two parameters: occupation and education of…
What is Stock Audit? How to Perform Stock…
Stock audit or inventory audit is a term that refers to physical verification of a company or institution’s inventory assets. There are types of stock audits depending on the purpose and every stock audit will…
The Meaning of MOP and SRP
What Are MOP and SRP? In the retail industry, especially in India, there are familiar terms called MOP and SRP. MOP is the acronym of Market Operating Price, a term used as a guideline for…
Strategic Planning for Sustainance
Purpose and background: An organization's strategy that mixes all of its promoting goals into one comprehensive set up. A good promoting strategy ought to be drawn from marketing research and target the correct product so…