It’s all about the consumer for IMRB

15 Jul,2016

 

By Anuka Roy

 

The weather was very unpredictable in Mumbai. But the interesting conference by IMRB International did not let it affect the moods of the people who attended it. K Ramakrishnan or Ramki as he is popularly known,General Manager and Country Head – Household Panel at IMRB Kantar World Panel and the host for the day, welcomed the audience to ‘Consumer Connections 2016’.

 

To explain the agenda in brief and to give the audiences a head start about what to expect from the conference this year, Ramakrishnan invited on stage Preeti Reddy, ‎CEO at Kantar Consumer Insights, South Asia, Kantar and Josep Montserrat, Global CEO at Kantar Worldpanel. They explained how useful this research will be for brands to reach out to consumers in a better way. Montserrat also focused on the work they have done and the potential that India has. For making the session a little fun, the host subjected the two experts to a quick round of rapid questions, which both answered quite rapidly as well as wittily. An example, when Reddy was asked what comes to her mind when she hears about research in India? Pat came her reply, “Over worked and under paid.”

 

This was followed by the presentations about consumer trends to look forward to. Rashmi Nair, Group Business Director, IMRB Kantar Worldpanel presented about ‘What lies ahead for urban India in 2016’. Her presenting was engaging from the word go and she very intelligently incorporated many popular Bollywood movie dialogues to explain her topic. She gave example of Patanjali- the brand which doubled its sales in just one year. This shows the trend of demand for local brands. She also explained how more focus is now given on the aspirations and lifestyle of the rural people.

 

Next presenter Prafull Babar, Group Business Director, IMRB Kantar Worldpanel was an instant hit with the audience because he gave chocolates as a prize whoever gave a close enough answer to his questions. His topic was ‘Penetration Rules’. He explained the five key principles of buying behaviour, which were as follows:

:: Brands grow fastest by attracting more buyers, not by getting buyers to buy more often

:: Plenty of penetration headroom, no matter how big you are already

:: Most of your buyers only buy you once in a year

:: Your buyer base is in constant churn – over a third will not buy next year

:: When buyers come, frequency will follow – no need to chase

 

‘New products Benchmarks’ was explained by VinayKhamkar, Business Director, IMRB Kantar Worldpanel. He explained that one key way to gain newer buyers is launching new products. The fact that consumers can set norms for successful launch of products was clear through his presentation. One of the key learning from this presentation was that new variants do better than new brands. He further explained about how the norms have been calculated and the research that has gone behind this study.

 

Consumer Mix Model (CMM) evaluates how consumers respond to different media campaigns by analysing their impact on purchasing behaviour. This was presented by Devika Satam, Insights Director, IMRB Kantar Worldpanel. She explained that the consumer is at the heart of every marketing strategy. CMM evaluates the impact of media. It helps brands to understand the consumers’ response, optimize the media mix for better returns and calculate ROI (Return On Investment) based on actual purchase behaviour.

 

Andy Parkinson, Global Markets Director, Kantar Worldpanel spoke about the book Brand Footprint on global ranking of the most chosen consumer brands by Kantar Worldpanel. Parkinson said Coca Cola remains the number one chosen brand of 2016 and the rise of Sunsilk has been consistent and very surprising. He also explained the entry of Indomie noodles, an Indonesian noodle brand in the global list. The reason behind local brands succeeding was the main focus of his presentation and one of the key reasons was identified as the affordability of the brand. On the other hand, Henry Swann, Global Solutions Director, Kantar Worldpanel gave an overview of the World Panel Online. It is an online data and analysis tool which gives global access to insights anytime and anywhere.

 

Hemant Mehta, Senior VP, Media and Retail, IMRB concluded the conference by giving a summary of the presentations. He also gave an insight of what they are working on currently, which were Data Management Platform (DMP), data integration and behaviour based segmentation to power activation.

 

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