SAN FRANCISCO, April 10, 2012 /PRNewswire/ -- MarketTools, Inc., the leader in software and services for market research and customer feedback, today announced the expansion of its Shopper Research solutions with the addition of new, innovative technologies that improve respondent engagement and offer more detailed insights than ever into shopper intents and preferences. These solutions incorporate new visual tools that deeply engage study participants with game-like experiences, and leverage the latest web technologies to help researchers pinpoint metrics on participants' shopping behaviors. The tools and technologies help deliver higher quality research data and more effective predictions of product performance in the market ‒ faster and more cost-effectively than traditional shopper research methods.
With today's consumers looking for more value than ever before, fast and accurate Shopper Research insights are critical to helping retailers and manufacturers alike respond to a changing marketplace and gain a competitive edge. A recent MarketTools study of grocery shoppers reveals that 63 percent of respondents say saving money is somewhat or much more important now versus last year. The study also revealed that 80 percent of respondents buy items with money-saving coupons; 62 percent buy store brands instead of name brands to save money; and 58 percent buy items only when they are on sale. In a complex retail landscape, it's more critical than ever to understand how these behaviors and attitudes influence the purchase decision.
For companies looking to adjust strategies in a value-driven market, MarketTools Shopper Research solutions provide critical data on optimal Shelf Sets, Product Assortments, and Pricing, as well as on aspects of placement such as Signposting, Store Layout, Adjacency, and more. The company's new web technologies collect more technical data than other research techniques, including behavioral metrics like time on task, selection order, and pause time, to more precisely calculate shopper preferences and intent to purchase. With these insights, retailers and manufacturers can:
- Create pricing strategies that drive growth for price-conscious demographics, channels, or regions
- Offer value-pack contents and product bundles that are most appealing to consumers
- Learn which packaging resonates with value-conscious shoppers
- Improve product selection and findability at retail
- Develop effective store planograms more quickly and cost-effectively
- Boost product movement with more effective store signage
"The new MarketTools visualization technologies help us deliver more relevant, actionable shopper data to our end clients, representing the leading retailers and CPG manufacturers in the nation," said Parker Hurlburt, vice president of research at Acosta Sales and Marketing. "Because respondent engagement is increased with these new, innovative tools, the overall data quality is better, and we are able to develop client strategies with an unparalleled degree of precision."
"In a landscape where consumers have more choices than ever before, it's critical for companies to have a detailed understanding of their shoppers' decision-making processes," said Ivan Rocabado, senior vice president at MarketTools. "These new tools, together with our deep analytics expertise, help companies gain the insight necessary to win the sale."
About MarketTools Custom Market Research Software and Services
MarketTools custom market research solutions give leading brands in consumer goods, technology, pharmaceuticals, and other industries the insights they need to make the best business decisions. Through the use of advanced respondent engagement techniques, comprehensive analytic tools, and expert knowledge of marketing research, MarketTools helps clients innovate, optimize and execute programs that deliver high-value business impact. MarketTools custom market research services are supported by a groundbreaking Advanced Analytics team and a suite of market research software.
MarketTools is the leading provider of software and services for market research and customer feedback. The company is focused on providing leading organizations the actionable customer insights they need to make better business decisions that lead to high-value business impact. As the first company to make online surveys widely available on the Web, MarketTools continues its market-leading position by providing the broadest range of powerful, accurate and integrated customer insight technologies that empower companies to become the most customer-centric organizations in their industries. MarketTools is a privately held company with corporate headquarters in San Francisco and European headquarters in London. For more information, please visit www.markettools.com.
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SOURCE MarketTools, Inc.