Academy Textbook © 2021 Nielsen Consumer LLC All Rights Reserved © 2021 Nielsen Consumer LLC All Rights Reserved NIQ Academy Textbook (NAT) NielsenIQ Case Competition (NCC) 2021 – Round 1 Prepared by[.]
NIQ Academy Textbook (NAT) NielsenIQ Case Competition (NCC) 2021 – Round Prepared by NielsenIQ November 2021 © 2021 Nielsen Consumer LLC All Rights Reserved General Disclaimer ▪ All contestant must accept with the ground rules in order to enter the competition, especially plagiarism ▪ Each team is responsible for keeping their work protected ▪ Any team found copying the materials, work, slides that belongs to other team, within or outside of the NCC will be disqualified immediately © 2021 Nielsen Consumer LLC All Rights Reserved Welcome to round 1: The Truth Seeker ▪ Objectives ▪ Rules ▪ Multiple-choice, close-ended question (MCQ) test with 30 questions of Knowledge, Calculation & Analysis/ deduction questions Questions could be Single Answer or Multiple Answers Test time is exact 25 mins including time for technical difficulties/ recovery Correct answer = +1 point, in-correct answer = –1 point, blank/no answer = –0.5 point Qualifying criteria ▪ Equip contestant with foundation knowledge of research Select contestants with capabilities for the case-study rounds Must: submit the test within the given time, once only (disqualified immediately if submitting after the deadline or submitting twice) Submission time is recorded by google form, not your clock The organizer is not responsible for internet connection, lag time, etc Main: 16 teams with the highest points Bonus: submission time, the earlier the winner Key timeline 8AM-12PM (6-Nov) 11:30AM (6-Nov) 12:00PM – 12.25PM (6-Nov) Each team is provided with NielsenIQ Academy Textbook (NAT) via email All questions from the MCQ test are based on this textbook Each team is provided the google form link for the MCQ test in advance The link is accessible but not open yet Each team starts taking test of Round Teams can open the test on multiple devices but can only submit one form Submitting twice will be disqualified © 2021 Nielsen Consumer LLC All Rights Reserved Table of contents Market research fundamentals Fact fundamentals FMCG retail landscape in 2020 Analytical process © 2021 Nielsen Consumer LLC All Rights Reserved Market research accompanies with business in different stages Who are my most valuable consumers and how I build innovation, marketing and in-store activities to capture them? How can I develop, price, package and promote breakthrough products to enhance my diverse portfolio? Is my content and advertising reaching, resonating and effectively delivering results with my intended audience? How can I systemically improve financial performance by delighting shoppers and optimizing price, promotion, assortment and shelf? MARKET RESEARCH Segment and identify most profitable consumers to unlock demand © 2021 Nielsen Consumer LLC All Rights Reserved Develop, price, and promote new products and services Engage consumers through effective and efficient marketing Measure performance and activate plans through superior sales execution Basic process of a market research project Client brief (Business & Research objectives) Analysis Finalize report Research design Fieldwork Presentation Proposal Project set-up Close project © 2021 Nielsen Consumer LLC All Rights Reserved Business objectives vs Research objectives BUSINESS OBJECTIVES RESEARCH OBJECTIVES What you always dream of What you need to know more and more to make your dreams come true Example Example I’m a biscuit manufacturer I want to double my business size by end of 2020 by penetrating into premium segment I need to understand consumers’ usage & attitude towards premium biscuits In addition, I need their feedback on my concept of new type of biscuits © 2021 Nielsen Nielsen Consumer LLC All Rights Reserved Main research data types ● Desk research: information from public sources, prestige websites, government release,… ● ● ● Retail measurement: measure retail sales effectiveness at retailers ● ● ● Consumer panel: measure shopping behavior and habits of consumers Consumer insight: research about behaviors, perceptions, reviews, experiences of consumers © 2021 Nielsen Consumer LLC All Rights Reserved Social listening: research about behaviors, trends on social media Media measurement: measure behaviors and habits on media channels Big data: consolidate big amount of data, which is more and more applied in business to understand consumers from different angles Retail Audit Consumer Insight Retail Audit data Measuring product movement from DEFINITION manufacturers to the end consumers through retailers Nielsen tracks the actual consumption and report on monthly/quarterly/bi-annually basis EXAMPLE QUESTIONS TO BE ANSWERED EXAMPLE FACTS © 2021 Nielsen Consumer LLC All Rights Reserved - Potential of a category for a company to enter? Market size and growth? - Which region/channel should a company focus? … … Value/ volume sales, share, growth Distribution SPPD/Offtake/Consumer support Purchase/stock Price Retail Audit Consumer Insight Qualitative vs Quantitative Qualitative Quantitative • provides us with important insights in understanding why consumers behave or feel the way that they • produces results that are projectable • allows us to identify and understand relevant behavior patterns, opinions, and • is based on a ‘scientifically’ drawn sample of the universe population motivations • helps us formulate hypotheses for further exploration or quantification • enables us to add richness to the findings of quantitative research © 2021 Nielsen Consumer LLC All Rights Reserved • we are able to add the dimension of “how many” we are talking about • able to attach statistical rigidity to the findings ... – 12.25PM (6-Nov) Each team is provided with NielsenIQ Academy Textbook (NAT) via email All questions from the MCQ test are based on this textbook Each team is provided the google form link for