Customer Satisfaction for Potential Investor
- The client, a private investor, wanted to understand customer satisfaction for a brand of ‘halal’ cosmetics available in India which he had invested in. The line is sold through both general online retailers as well as physical branded stores.
- The client shared a database of users of the brand. HBG planned the research as a traditional quantitative customer satisfaction and loyalty study with some qualitative questions. The major questions were on a) product likeability b) overall satisfaction c) willingness to repurchase d) willingness to recommend. Further deep diving was done on dimension level satisfaction like product quality, product range, Price and in-store experience etc. A sample size of 400 was planned through random selection from the database. The final sample size achieved was also 400.
- The data was analyzed using frequencies and cross-tabulations in line with the business objectives. An NPS score was also calculated. Further slicing of the data was done for and comparisons made between two age groups – 18-35 and 36 and above. Besides this, a structural equation model was used where the granular attributes were classified as planned into broader performance dimensions like contemporariness, style, innovation, gentle, product quality etc. The model helped understand major drivers of willingness to recommend the brand. The model had the following structure: Performance Dimensions, Overall Customer Satisfaction, Loyalty (Willingness to repurchase + willingness to recommend). Besides this, open-ended verbatims were textually analyzed to understand major strong points of the brand in terms of likeability and major weaknesses in terms of customer perceptions. Questions were also asked on source of awareness of the brand.
- The results were presented in the form of a PowerPoint presentation with an executive summary of results as well.