MAXI Fair, is a certified tool for conducting Disguised Market Research and understanding consumer behavior. It was started off by XLRI. Their Born of the vision of one ofXaviorLabour Relations Institutes, i.e., XLRIʼs most renowned professors DrSharadSarin in 1979, the novel concept of the Marketing Fair, today is one of the most essential tools for marketing. This fair is organized, supervised and conducted by MAXI, i.e., the Marketing Association of XLRI.
The concept of conducting Disguised Market Research and understanding consumer behavior was later followed by many other foreign universities too.The University of Rhode Island with DrSarin’s expertise conducted this fair in 1986 which was a huge success. Several business schools have also adopted the idea, only giving their students a practical exposure to real life situations. Variants of the original Marketing Fair are conducted at this University as well as at several top Indian business schools.
How does the fair work?
The basic idea of the fair uses a carnival milieu to conduct meaningful consumer behavior research. The underlying concept is to design games and events as surrogates to actual research questions to elicit unbiased and accurate information from customers regarding their preferences and perceptions.This innovative concept finds numerous supporters and followers in the corporate world.
The stages behind evaluation:
- Product– Here the product is tested on the basis of its concept, and a comparative evaluation is done based on the other products. New product preferences are taken into consideration and then a product attribute mapping is done.
- Place– The retail outlet effectiveness is measured along with the point of purchase display.
- Pricing– The price sensitivity, evaluation and its quality relationship are measured.
- Consumer Behavior happens to be one among the important ones. Here, the effect & perception of packaging, point of purchase behavior, information seeking behavior, measure of value for money and price quality influence play the important factors for evaluation.
- The promotion of the product, i.e., the desired and effective brand image, the advertising effectiveness, promotion schemes, internet marketing and comparison of sales promotion tools.
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