Research Brief for Tata Nano
In the light of the current issues plaguing the company especially the low sales volume numbers recorded in the recent past, most notably in the month of December, the potential research areas and corresponding questions that must be addressed through a detailed market research are as follows:
* Facts regarding the market segment (% of customers) based on income (upper/ middle class), demographics and ethno graphics who would buy a Nano. * Identification and prioritization of the prime needs (space, price, safety etc) of customers. * Identify the most effective marketing channels to communicate the intended benefits to the identified segments. * Identification of customer perception of Nano’s benefits and gaps if any in meeting those perceptions. * Is sales outcome impacted by advertising efforts in the case of cars? What are the most effective promotion channels in this industry? * Validity of barriers like availability of loan, breach of trust due to the inability to deliver on the promised price of Rs. 1 lakh and social stigma attached to owning a cheap car that might be preventing customers from buying a Nano. * Testing the existence of a perceived gap between the cost and the actual value of the car.(Promised and attached value being 1 lakh where as current cost is above 1 lakh) * Testing the possibility of low sales due to meager sales points i.e., inadequate distribution channels. * Benefits and value proposition of substitutes like 2-wheelers, second hand cars etc * Testing the correlation between the price and quality in the car segment i.e., Does a low price leading to a low quality perception exist? * Identify the gap between the key benefits/ value proposition that is currently being communicated and that which is intended to be communicated? * Is Nano considered a safe car by customers? If No, then what PR activities can combat the negative publicity generated by incidents like...
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