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Q: What is market clustering?
Ans: Market clustering basically is a process of grouping different countries globally. So you could look at upto 180 countries globally and you could be grouping them. The basis on which we group them is their state of evolution of needs in any given category.
Q: How does market clustering help companies?
Ans: It is helping companies streamline their global innovation pipelines, by innovation I mean new product or new variant development. Usually a company operating in multiple geographies will be caught between region-specific need offerings versus what they would call a global protocol of innovative new products. As we all know innovation is an expensive process that requires a lot of R&D and effort, how this is helping companies is that it is helping them streamline and drive better efficiencies in their global innovation programs.
Q: Can you share some examples of WNS work in market clustering?
Ans: We are doing a lot of this work again with one large CPG major where we are looking at it across different categories, 25 plus categories that we are doing the clustering work for and then again refreshing those models on every two year basis. The benefit that the clients derive is millions of dollars saved in terms of fielding concept test at various markets to sense how the new initiatives are doing. Our work has kind of helped our clients reduced their spending on new product testing cost by more than 50%.