The Innovation of Artificial Intelligence in Market Research Transforms Business Strategies

AI Becomes The Protagonist In Improving Market Strategies, Benefiting Giants Like Saint-Gobain And Lider Interiores

In an increasingly competitive business landscape, product quality is no longer the sole criterion for success. A clear and up-to-date understanding of the market, its prices, competitors, and trends becomes essential for healthy growth and constant improvement. Now imagine if this market research could be conducted in over 6,500 establishments, covering more than 350,000 products, with the involvement of 1,600 researchers across Brazil? And if the total financial return of these researchers was R$ 368,170.35, and the data was analyzed and simplified through Business Intelligence (BI) and Artificial Intelligence (AI)? Welcome to the new era of market research.

AI As A Driving Tool For Market Strategies At Saint-Gobain

Saint-Gobain, a global leader in lightweight and sustainable construction, well-known in Brazil for its Quartzolit mortars, adopted this innovative approach. After hiring Price Survey, a startup specialized in technological solutions for price and field research, the company was able to track hidden opportunities to expand its sales in the Brazilian market and adjust prices based on competitors’ offerings.

With an extensive network including 12,000 employees, 58 factories in Brazil, 52 distribution centers, three mining operations, 78 stores, six offices, and a research and development center, Saint-Gobain greatly benefited from this research. “Technology has been a great ally in this research. It significantly increases the agility in decision-making, and the data allows for a real approach to the market,” emphasizes Tábata Eberl Bandolin, customer relationship manager at Saint-Gobain in Brazil.

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Lider Interiores Uses AI To Redefine Pricing

It’s not only Saint-Gobain that has taken advantage of Price Survey’s services. Lider Interiores, specialized in high-end furniture, also utilized technology to understand market trends and the competition’s response to the increase in raw material prices and inflation.

From June 2022 to the present, the company investigated 1,918 items in 119 Points of Sale (PDVs), and the researchers involved in the research received a total of R$ 5,203.50. “Our goal was to give the pricing area an overview of the prices of key products and competitors. We were surprised to understand the magnitude of the operation and how to conduct this research,” reflects Edson Carvalho from Lider Interiores.

The Revolution Of Market Research

The market research process has become more agile thanks to technology. All recruitment of researchers and conducting research is done through applications. After defining the research scope, researchers begin visiting establishments, validated by geolocation, and start the surveys, recording information and photos as necessary for the client.

With Price Survey’s technology, it is possible to identify barcodes using the researchers’ own smartphones, eliminating the need for paperwork, confusing questionnaires, and loss of information. The collected information is then analyzed through BI and AI, providing companies like Saint-Gobain and Lider Interiores with vital metrics, management reports, business intelligence, graphics, heat maps, price comparisons, and pivot tables. All of this enables a better understanding and creation of effective strategies regarding product pricing.