Considering the present challenges encountered by the company, particularly emphasizing on the considerable decrease in sales volume recently, especially during December, a comprehensive market research is indispensable to address the necessary research areas and related questions. Such questions include:
* Determining factual data regarding the percentage of market segment (customers) based on wealth (upper/middle class), demographic data and ethnic graphics who would purchase a Nano. * Recognizing and prioritizing the key requirements such as space, price, safety etc. of customers. * Identifying the most effective promotional channels to convey the projected benefits to the defined segments. * Determining customer's perception towards Nano’s advantages and analysing any existing gap in fulfilling those perceptions.
* Do marketing efforts influence the sales results of automobiles? What are the most efficient promotional p
...latforms in this sector? * Assessing the impact of hurdles such as loan availability, loss of trust due to failed delivery at the promised Rs. 1 lakh price point, and societal perceptions related to affordable car ownership that may deter potential Nano customers. * Examining the perceived discrepancy between the set cost and actual worth of the car (The promised and attached value being 1 lakh, but current pricing exceeds 1 lakh) * Investigating whether limited sales points, implying insufficient distribution channels, might result in poor sales.
* Exploring the advantages and unique selling propositions of alternative options such as second-hand cars and motorbikes * Analyzing the relationship between the quality and price of cars; is there a perception that a cheap car equates to poor quality? * Recognizing discrepancies between the main advantages and unique selling proposition that is currently advertised, and the one intended to
be communicated? * Evaluating customer perceptions of the safety of Nano cars; if they are perceived as unsafe, what kind of public relations efforts can mitigate the negative image caused by incidents such as car fires? * Determining the impact of a minor price increase (price sensitivity)?
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