By undertaking multi-regional market research, FMCG companies can better navigate the complexities of diverse markets, maximise their marketing efforts, and adapt to the specific needs and preferences of consumers in different regions, ultimately leading to improved sales, brand visibility, and customer loyalty.
Multi-regional research is also ideal for companies who have established brands in Australia and are searching for growth through entering new markets.
Conducting multi-regional market research for FMCG products offers many key advantages:
Market Entry Strategies: For companies expanding into new regions, research guides decisions on market entry strategies.
Consumer Preferences: FMCG products often have region-specific variations based on consumer preferences. Research helps identify these variations, enabling tailored product offerings and marketing strategies for each region.
Cultural Sensitivity: Understanding the cultural nuances of each region is crucial for maintaining a positive brand image and avoiding cultural missteps that could harm the brand’s reputation and success.
Product Localisation: FMCG products may require adjustments in packaging, branding, or even product features to align with regional tastes and regulations. Multi-regional research helps identify these requirements.
Price Optimisation: Pricing strategies can vary by region due to local economic conditions and consumer behaviours. Research helps determine the most competitive and profitable pricing models for each market.
Competitive Analysis: Research allows companies to analyse the competitive landscape in different regions, helping to identify market gaps, emerging competitors, and opportunities to gain a competitive edge.
Customised Marketing Campaigns: With insights from multi-regional research, marketers can create highly relevant advertising and promotional campaigns that resonate with local consumers, leading to higher engagement and conversion rates.
Efficient Resource Allocation: By understanding the unique dynamics of each region, companies can allocate their resources (budget, personnel, and time) more efficiently, focusing on areas with the greatest potential for sales and brand growth.
Customer Insights: Research allows FMCG companies to gather valuable customer insights, such as buying behaviour, brand loyalty, and consumption habits, which can be used to refine marketing and product development strategies.
Brand Power: Maintaining brand consistency across regions is essential for brand recognition and trust. Multi-regional research helps ensure that brand messaging and imagery align with the values and expectations of local consumers.
Market Expansion: Companies looking to expand their presence across regions can use research to identify untapped markets with potential for growth and develop a strategic expansion plan.
Risk Mitigation: research will provide valuable insights which will help mitigate risk when entering a new market and lead to success far quicker.
Our expansive reach spans over 75 million consumers across 94 countries. Brands including Old El Paso, Asahi, Mondelēz, and Samsung trust our research platform to obtain market insights rapidly and effectively, facilitating informed business decisions.
If you would like to know more about our capability, please contact us.