For brand success
of any company it is imperative to understand the customers. Our experienced
professionals at i3 Consulting can help clients identify what are the different
kind of customers that exist in the market or within the company and how to
best understand their behavior and preferences. Identifying and understanding
the existing segment can help clients:
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Customize
its offerings to it’s customers
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Optimize
its strategies for best results
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For a client in
a specific industry it is interesting to see where it is positioned in the
industry at large and specifically to identify and understand it’s peer set.
This helps a company to build on it’s strength and work on it’s weakness
appropriately. The key to this lies in understanding your market . A correct
assessment of the market gives the client a better picture of what are the
different categories of players within its industry as well as which companies
fall in it’s peer set. A detailed profiling of the peers and competitors can
then enable the client to evaluate where it is gaining or losing compared to
others.
i3 Consulting
can also help clients analyze their performance or take strategic decision by
creating user friendly models. These models can be custom created depending on
the need and the business problem. The following are examples of models that
can benefit a company:
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Allocation
model: Retail chains often face problem in allocating their resources
and deciding on the correct level of inventory. An allocation model can help
them optimize allocation and decide the ideal level of inventory
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Promotional
effectiveness model: A promotional effectiveness model can help clients
analyze the performance of products on promotions as well as understand
cannibalization effect of promotions. This helps in optimizing the products for
promotion as well as plan better for future promotional campaigns.
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