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By leveraging a robust Voice of Customer research approach, the manufacturer aimed to optimize its distribution strategies and better align its offerings with the needs and preferences of its end-user customers—driving a 10% growth gap between its distributors and the overall market.
Benefit-Value Analysis is a proprietary methodology developed by Martec to gain insights from an intended market to determine appropriate and acceptable pricing strategies on products before they are introduced and released into the marketplace.
Price-Value Mapping analyzes the relationship between what customers value about your brand or product and the price they are willing to pay. In this case, a category-leading automotive aftermarket parts manufacturer was faced with a crossroads: Continue to support multiple sub-brands that competed in the same market and at similar price points, or make the difficult decision to discontinue one of the brands?
It is critical, when analyzing and working to optimize customer experiences, that three primary tenets of sound CX design be woven deeply into the fabric of the analysis, even when using artificial intelligence or other technology to do some of the information gathering and processing.
The customer experience research objective was to take Martec’s 5-D insights approach to study client experiences, understand the true voice of customer, and engineer the customer journey to maximize engagement and customer satisfaction.