The research team of Yasno Research & Consulting Group faced a difficult task. The bicycle manufacturer wanted to get a thorough understanding of its consumers and their purchasing behavior. It was important to understand what buyers expect, how they choose bicycles, how and where they make a purchase, who they consult with, what they pay attention to.
Most importantly, the task was to understand how consumers perceive bicycle brands and what impact the bicycle brand has on consumer buying behavior.
A comprehensive study became the optimal solution for the implementation of the assigned tasks.
Over the course of two months, the following was carried out:
- Mass survey – personal interviews with 1,201 bicycle buyers over the past year
- Expert survey – with 50 bicycle sellers
- 47 in-depth interviews with buyers of the brands of the manufacturer and competitors
The project was implemented within the framework of the program to support the development of small and medium-sized businesses in Ukraine by the European Bank for Reconstruction and Development (EBRD). Yasno Research & Consulting Group is a qualified consultant to the EBRD.
Based on the results of the project, 7 customer segments were identified, formed on the basis of the peculiarities of buying behavior. In particular, these include: the approach to the choice of a bicycle, the definition of markers of the quality of the bicycle, the brands chosen, and other characteristics.
The client received answers to questions about how the market is developing, what and how influences consumer choice, how its brands and the brands of competitors are evaluated, what information sources are trusted.
As part of the project, there was a survey of expert sellers, recommendations were provided on how to effectively interact with this audience which made it possible to optimize the manufacturer-seller interaction scheme and to gain a significant competitive advantage in a saturated market.
Companies ordering marketing research invest not only in development, but also create the brands of the future.
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