Your market and customers are changing. Are you ready?

The retail industry is one of the largest industries in the United States and with increasing competitive pressures, constant changes in consumer attitudes and behaviors, and advances in technological capabilities, there is no room for complacency.

MRSI's extensive retail experience coupled with our proactive client service and accurate, actionable marketing research results can give you the insight you need to stay ahead of the competition.

Range of Marketing Research Services for Retail
MRSI can tailor a marketing research solution to fit your specific needs, whether its telephone or online surveys, qualitative research, or all three and more.

Our trade surveys, conducted at our national telephone interviewing center or via online iN-Site, our online interviewing tool, provide you with:

• Accurate read on your trade area
• Assessment of competitive marketplace
• Detailed analysis of your image versus the competitors

MRSI's customer exit surveys can help you:

• Define trade area
• Identify shopper profiles
• Thoroughly evaluate your center

MRSI can also help you with:

• Image tracking
• Market penetration
• Segmentation
• Spending habits and patterns
• Store design

Improving Store Design and Layout
How can you make the most out of your consumer's shopping experiences? How can you maximize your store's space while encouraging consumers to buy? Store design is an important reflection of your company and should effectively communicate with your consumers by grabbing their attention and leaving a lasting impression.

Innovation and well thought out layouts can increase store traffic and drive industry sales. How can you provide a customer-friendly and convenient environment? There are many options to consider and MRSI can help you understand your customer's preferences and opportunity areas for your existing or future development.

Customer Profiling and Segmentation Research
Contrary to popular belief, there's no longer a "typical" consumer. The United States is home to many races, ethnicities, and cultural and religious beliefs, making today's Americans anything but typical. What does this mean for your company? And how do you know who is the "right" target?

Consumer attitudes, behaviors, and perceptions are constantly undergoing changes and the population is dividing into smaller, clustered groups, each with its own special interests, lifestyles, and affinity for particular goods and services. Getting your product to the right person or group of consumers is essential to your company's success and performance in the long-run.

Let MRSI help. Defining your customer's profile is a key step in any successful marketing effort, and we have the resources and tools to get you the information you need. Our consumer profiles offer in-depth, actionable information including consumer spending habits and patterns. After detailed customer profiles have been created we can help you understand these consumers with our segmentation research; helping you to maximize your opportunities.

Image Tracking
What comes to mind among consumers when your company or brand is mentioned? Where would you like to stand in the mind of today's consumers? Your image and brand are the ultimate reflections of your company and it is important to maintain your image and positive consumer perceptions to best compete in today's cluttered retail market.

We can help to ensure your brand image, brand perceptions, and positioning are on target with today's consumers with our image tracking abilities. Let MRSI help.

Innovation and Market Penetration
What percentage of all possible sales are represented by your actual sales? How could you improve your overall sales? What are the latest opportunities in the market? Will your retail sales reflect more conservative spending due to rising energy costs and a slowdown in the housing market? What could you do to attract more sales and combat this?

Some retailers have updated their web pages to attract younger consumers and developed stronger online ads to better target their markets, what's your strategy? Let MRSI provide you with the insight and direction you need to reach the potential of your retail business and successfully penetrate your market.

A CASE STUDY

THE ISSUE:
A major U.S. retail chain offers a number of "store brand" products. These products are generally of comparable quality to national brand products but at a lower price.

What is the optimum price for these store brand products that will maximize profits without sacrificing market share?

THE SOLUTION:
MRSI designed research to test consumer demand within each product category. This test allowed consumers to view a number of scenarios with store brand products at various price points compared to national brands at fixed price points.

Demand curves were created for each product category showing brand choice for the store brand and national brands at different price points for the store brands.

BUSINESS IMPLICATION:
Some categories demonstrated an opportunity for raising price without sacrificing significant market share. The retailer used the findings to adjust prices for some store brand products, resulting in increased profits.

Find out more today!
For more information on how MRSI's marketing research services can help your retail business succeed, contact us at 513-579-1555 or use one of our online forms to quickly request additional information or to request a proposal.

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