Answer examples and advice for how to answer this interview question for a Market Research Analyst interview
How to Answer
You may first want to ask some direct questions to make sure you have all the information you need before giving your recommendation in this scenario. First, you want to be knowledgeable about the product. If the interview gives you an example, saying that sales have been low, that gives you a place to start. Think about how you would measure the effectiveness of their current strategy. Just because sales are low doesn't mean that they are marketing to the wrong demographic. Explain the process you would recommend. Once you have all the data, how would you decide what needs to be different in order to boost sales? What is your experience in this area?
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How would you revamp our current product lineup?
I would look into how other customer favorite products compare and see whether there is something that could be enhanced or just shown more to the customers so that they get a better understanding of what appeals to their senses in that product.
I would go through the existing line-up, understand the flaws and devise strategies to improve the current products.
Dont know need to see current lineup.
Would like to make use of my market research skills and product development and also the trainings which I will be undergoing.
I would revamp the current product line by adding more people to our target market.
I would first start by understanding how the product work, before doing a revamp of the current product lineup.
Detailing of every aspect I have to take for the product.