We use state-of-the-art mathematical modelling tools in order to predict short-term and long-term product volume. These can be established products, revamped products or unique new products. It helps us test the launch readiness of such products. Volume forecasting requires a deep understanding of the consumers, their propensity to buy, economic dynamics, past and future trends, etc. These attributes are factored in a delicate mix in order to capture a snapshot of market demand for the product and provide a detailed evaluation of the marketing mix of the product along with realistic market potential in terms of volume and a market share estimate 12 months after launch.
- To evaluate each marketing mix element such as pack, product, price, communication, etc.
- To find out key drivers/leverages from marketing mix driving propositions market share
- To establish the source of business for the proposition
- A candy manufacturer wishes to incorporate a small graphical change in its candy pack. How will this change impact the sales of the candy?
- A soap manufacturer is thinking of redesigning its pack colour and brand logo. Will this impact the soap’s market share?
- A soft drink manufacturer wants to introduce a new drink with mineral salts. The product has been tested with consumers and the response has been positive. The marketing mix has now been finalised. What would be the potential of this new offer?
- A well-established instant noodle company has not changed its price for a long time. It is now considering a price increase. Will its loyal customers stay with it in the price change scenario?
- A shampoo manufacturer has a large number of brands in its portfolio. This has made brand management very difficult, and hence, the need has arisen to justify retaining certain brands in the current portfolio. In order to tackle this, the business has decided to merge three brands into a single brand. Will this brand be able to retain all the current consumers of these three brands ? Will the company face an overall share loss due to said merger?
To have a better understanding and a futuristic approach towards all the abovementioned business situations, one can conduct a volume forecasting study which applies techniques like depth of repeat modelling and leverage analysis/consumer adoption pathway.