Question

In India, only about 10% of men who shave use Gillette razors. Worldwide, 50% of male shavers use Gillette products. To achieve greater penetration in India, Gillette rolled out a no-frills brand that costs 15 rupees—about 34 cents. The Gillette Guard has a lighter handle that is cheaper to produce. It also lacks the lubrication strip found in Gillette's more expensive razors, and replacement blades cost only 5 rupees (11 cents). This use of data and process are described as:

Answer 1

Answer: Market estimation by analogy

Explanation: In simple words, it refers to a method used for market penetration under which the organisation tries to capture a market by using its data and experiences it has with other countries.

In the given case, Gillette is used heavily by the males of other countries whereas in India they have only a minor share. Thus, they are using their experiences and resources to provide less costly products in Indian market.

Hence the correct answer is market estimation by analogy.