Market Research Leads to Success in the Marketplace
By working with Renfro, our business partners have access to the best design, manufacturing capability and packaging in the legwear industry. But if a customer doesn’t want or need a particular product, the most beautiful design, the most state-of-the-art machinery and the savviest packaging in the world won’t sell it.
To ensure our products are successful in the marketplace, Renfro’s veteran team of researchers gathers information about the thought processes of consumers who have thousands of legwear products to choose from. We also test potential new products on real-life consumers and gather their feedback on how they look, fit and feel.
We’ve spent a lot of time studying the primary “usage occasions” for which consumers buy socks – and they are different for women compared to men. We’ve gathered information about which factors – such as brand name, quality, style and price – play the most important role in each type of purchase, whether the items will be worn for heavy exercise or just hanging around the house. We know how customers “rank” various legwear brands in their minds, and how willing they are to pay for what they consider to be a premium product.
Renfro uses this information when designing, manufacturing and marketing new products – and to tweak the ones we are already offering. We also share information, as appropriate, with our retail partners and vendors, helping them with their decision-making in how many products to order and how to display them in their stores.
Of course, sometimes our research totally surprises us. We’ve tested products that failed, but that ensures that we and our partners do not waste valuable time and resources. Or we might discover that consumers think of a brand differently than we do, and that dramatically changes how we market it.
Whatever the outcome, sound research inspires the most desirable products for our consumers — and the best business intelligence for our partners.