Discussion Topic: Choosing the Optimal Data Source Procter & Gamble (P&G) has in

Question

Discussion Topic: Choosing the Optimal Data Source

Procter & Gamble (P&G) has introduced a new type of zeolite-based detergent in the Washington DC metropolitan area. However, the brand has not captured the anticipated market share since its introduction about 6 months ago. P&G has hired you as a marketing research consultant to recommend a suitable source of standardized data.

A. What are the various data source alternatives available to P&G?

B. Discuss the advantages and limitations of each of them and recommend the data source most suitable for P&G’s needs.

Explanation / Answer

As talking about P&G which has introduced a new washing powder in Washington which has not done well in the given 6 months, as the data strategy which the company has used wsa not upto the mark, now lets consider the data source which the company might have used and how accurate it was and how this can be helpful

First the company would have trusted the data source which was with them as the company has stable place in the market and is a reputed firm and has a big target audience, hence this company would think in such a manner that their internal collection of data on which they are working will be vey much helpful for them to work on and strategise the data accordingly, so the team would work on data mining process and it will be in such a way according to the buying technique as well as the target audience, especially which age group people will buy the detergent and majorly what is the buying trend of that customer.

As the above analysis are been done on this basis , the company will come to know who their exact customer is and how is this customer beneficial for them and how they are going to target them and achieve what they want to achieve from them, this will be the major data boom for the company to decide to target this audience or more analysis for this audience is required. This will be the call taken up by the company for moving ahead, The biggest drawback of this data source will be the human error where the tagging of the customer will not be done correctly and the company will be in the dilemma, is the data working done by the respective is accurate and correct or not

Now the second scenario, is particulary doing the SWOT analysis before the launching of the product, how the product will be placed into the market and how the product persona will be into the market, as this product will be very much helpful in defining what exactly the product launch will be of and how this product will be surviving into the market against the competitors, as this product will only come up with new challenges and this product will showcase the effectiveness into the market, by showcasing why the customer should buy this product. In this scenario the company will actaully come to know about the exact customer as well as how custome will behave, however, the major drawback will be the accuracy of the data will not be measured and the target audience will be not defined, as they are majorly loyal with the respective company and why will they change the product, which is very much new to the market.

The third thing which P&G can pitch into is by doing a market survey , that is to understand what is the age of the people who are actually interested for the product like washing powder from the new company, and talk to the people to understand what exactly they want from the company and how the product should be, the customer should think about it in the manner and provide their valuable feedback on this, which will help the customer to provide a correct response pertaning to the work given and this things will help out to the company to turn up with more and more various thoughts to improve the journey of the product and this will help them to reach a level which will be very much helpful and accurate for the company to grow and extent the life of the cusotmer life cycle as well as the product life cycle. This will provide the accuracy better as the person will be interacting with the customer taking their valuable feedback by asking them certain questions, as the questionairre will be made, and this will be very much helpful for the team to define how the company would work and how they can help in improving the product quality as well, this survey will also help to generate the product pricing as well, which will be very much helpful again for getting the actual benefit for the market research done by the team.

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