Customer assessment is a core service of Technomic and is critical to determining target market as well as product/service offering, promotional support, CRM, channel access and other penetration tactics.
Technomic employs a number of tools to evaluate customer potential…
- Performance gap analysis…objective view of client performance at key customers along major service parameters
- Customer needs analysis…exploring priority needs/wants of customers, notably unmet needs, as means to determine penetration leverage by client
- New product/service investigation…testing acceptability of a new product or service among a targeted customer group to determine viability of new product introduction, specifications of the product/service offering, pricing, etc.
- Opportunity mapping…identifying and quantifying most attractive customer targets.
- Voice of Customer (VOC)…probe target customers on various parameters to help shape client offering, CRM approach, competitive vulnerability, extended service offerings, etc.
- Benchmarking…employing Technomic’s proprietary “8P Approach”.
The 8-P benchmarking model is one approach taken by Technomic and focuses on assessing a company’s route-to-market strategies and tactics. It provides a framework to gather in-depth field research, metrics and benchmarks to determine the impact to a client’s China market strategy
Technomic uses primary research techniques to uncover customer information.
In developing markets like China, getting quality insights from the marketplace is challenging. Technomic employs face to face interviews by full time, experienced staff as the core of our methodology. Customers, even when open in the discussion, often have limited understanding of their market or even their own needs and challenges. Skilled interviewing techniques are needed to help solicit quality insights and to filter out misinformation. Technomic Asia also brings objectivity to the process of customer assessment which enables management to take a fresh look at markets and customers even where they have years of familiarity. Often this legacy knowledge can hamper the identification of evolving trends and unmet needs of their customers, as well as current activities of their competitors.