Need for research
Our client is a well known Jewellery store based out of Chennai and they are revered for their handpicked and exclusive designs that feature in their gold and diamond jewellery collections. Over the past few years, the brand was facing stiff competition from other retail outlets in the city, and their daily footfall was dropping.
In order to create an effective marketing strategy to revive its sales and invigorate the brand, there was a need to understand their brand status in the market.
Methodology employed
We conducted a quantitative research using a structured questionnaire. Interviews were done face to face using pen and paper; The Length of interview Maximum 25 mins. Brand health module was administered to address the marketing strategy needs. We also met customers from Client database to understand the strengths of the brand. Total of 400 interviews was conducted in Chennai.
From approval of the questionnaire, fieldwork, data analysis and reporting. we completed this project in 20 days
Actionable findings
Our study understood how gold buyers perceived different brands and their purchase habits.
Following are the information points we captured for the client: Brand Health parameters to assess the Brand Salience, Brand usage, Brand Perception, Communication Status & Purchase habits, 5Ws who, what, when, where and why.
Impact:
Based on our study, we generated insights on TG, Price Range and type of jewellery. And with these insights, the client was able to revamp their marketing plans, reallocate their spends to drive walk-ins and sales.
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