Consumer panels

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Consumer panels

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Abstract

In today's competitive world, the consumer is considered is as the king of the market. Since the customer is the King, companies have to understand what people buy, their consumption pattern and the reason behind this behavior. This can be done through market monitoring, research and advanced analytics. Consumer panels are a retention strategy to retain a set of customers. It is important to distinguish between two types of panels:

Introduction
The Consumer panel
Consumer panels in France
Scanning of data
Information collection and pooling
Limitations
Better positioning
Panel distributors vs. Consumer panels
Conclusion

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[...] Scanning of Data Consumer Panels now use the principle of scanning the barcodes present in the majority of products and allow their easy identification through a scanning device provided by the company that needs the research data. Once the barcode is scanned, additional information like the time and place, the amount of the basket, the by product, quantity purchased, total price or unit, special offers if any etc . is entered. Information Collection and Pooling The scanners that are used by consumer panels are Consoscan 2 (TNT Secodip Institute), which is now used 12,000 homes instead of 8000 so as to be more precise, Homescan (ACNielsen), and Metascope (TN Sofres) which has a leading position today in consumer panels. [...]

[...] Limitations The high cost of running these panels is what most companies are concerned about. The true representativeness and the behavior of the panelists is another concern. Then there exists some limitations on the use of panels. The consumer panels must be used properly and efficiently to make them worthwhile. Better positioning The company that initiates a survey with the consumer panel is provided with the outcome it wants which includes the appropriateness of their strategy and trade policy. They are therefore essential when building a marketing plan. [...]

[...] Panels are essential to optimize the marketing strategy of the company The strategy highlights that Leclerc produces products that are as cheap as possible, thus defending the purchasing power and lower prices. Leclerc has need of studies to update itself on par with its consumers and competitors. In 2000, Leclerc had adopted a strategic shift: "Leclerc still sees big things with its low prices". The company decided to adapt to changing consumer behavior caused by factors in the French economy: rising unemployment, lower purchasing power etc. [...]

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