Most of the Mexican population are consumers of energizing products, buying on an average of every 2-3 days.
With the increase in the number of millennials, competitors are innovating and reinventing energy drinks and expanding the market space at a rate of knots. The active ingredients in an energy drink are caffeine, sugar, and other energy enhancing products. The energy drinks are consumed by athletes and millennials to prevent fatigue and dehydration. Over the last few years, energy drinks are considered to be an alternative to carbonated drinks, which is boosting its adoption among the young consumers.
Currently, the energy drinks market has reached a saturation point as it is extremely difficult for new and small scale manufacturers to compete with the established players in the market. The energy drinks manufacturers face huge competition from the packaged fruit juice and aerated beverage industry. Despite several marketing strategies, the manufacturers find it difficult to boost the sales of the energy drinks in the market. The energy drinks industry has face unprecedented scrutiny from public agencies and regulatory bodies over the impact of energy drinks on global health. However, with the number of diabetics increasing in developed nations, the sugar-free energy drinks market seems promising for the manufacturers and suppliers.
Infiniti’s customer intelligence study helps players in the energy drinks industry deduce effective growth strategies by analyzing consumer purchase behavior and brand preferences. The customer intelligence assessment also analyzes existing trends, challenges and drivers across the target region for the energy drinks sector. Our market intelligence tools also help clients deduce effective market entry solutions and help them understand the marketability of their products.
The Business Challenge
To better understand the market dynamics, the client – a leading global player in the energy drinks segment with a strong foothold in the industry – approached Infiniti to engage in a customer intelligence assessment. The scope of this engagement was to help the client understand the consumer purchase behavior and brand preferences while buying pick-me-up products. The client also wanted to gain insights on the behavior of energy drink users vs. the rest of the population.
The primary objective of this customer intelligence assessment was to assess and understand the pick-me-up products market segment at a global level with special focus on Mexico. Additionally, the customer intelligence engagement also helped the client understand the product shoppers’ preference, buying patterns, and trends for pick-me-up products in the target region.
Our customer intelligence team brings in-depth expertise in the food and beverage market segments across the globe, with our existing knowledge base and industry panels. Our experts, through their previous work and existing knowledge, developed a robust, structured questionnaire, connected to shoppers and probed them efficiently on their preferences and perspectives to meet the specific client requirements. Our client and project management team worked closely during the engagement to provide best-in-class recommendations, both during and after the completion of the project.
Why Infiniti Research is the preferred partner for more than 55 Fortune 500 Companies
Customer Intelligence Solutions Offered and Business Impact
With an aim to help the client assess the consumer landscape for pick-me-up products, Infiniti engaged in a customer intelligence assessment. Our research methodology consisted of email/phone based invites, reminders, and conducting structured online surveys, followed by data analysis and insight development. By identifying respondents to be contacted for the study, we created a respondent database and combination of open ended and close ended questions to gain measurable feedback from the client. A specialized team of interviewers, language experts, and data analysts/statisticians were deployed to generate actionable insights on purchase decision making process and criteria for buying pick-me-up products.
In a mere span of four weeks, the client – a leading global player in the energy drinks segment, was able to gain clear insights from the customer intelligence engagement. The client gained a holistic overview of buying behavior, trends, and patterns of consumers for pick-me-up products. The customer intelligence assessment also helped the client analyze consumer expectations and likeliness for the products. The solutions offered by the customer intelligence team helped the client develop a comprehensive strategy for reaching out to a larger customer base. A plethora of journals such as annual reports, media platforms, news aggregators, and company and executive presentations was analyzed to conduct the customer intelligence assessment. We utilized various proprietary and market intelligence tools to track responses and survey completes.
Benefits of Our Integrated Approach
In just four weeks, the client gained clear insights on the product shoppers’ preference and buying patterns while selecting pick-me-up products. The client also obtained a complete overview of the pick-me-up products market segment at a global level with special focus on Mexico. The customer intelligence assessment also helped the client create and capture the end customer value and develop a comprehensive strategy for reaching out to a larger customer base.
Some of the key points appreciated by our clients
- Dedicated Customer Intelligence Assessment Portal. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by clients.
- Interactive Dashboard. Using our portal-based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read customer intelligence study for strategy experts and decision makers looking to obtain insights on the product shoppers’ preference and buying patterns while selecting pick-me-up products to develop a comprehensive strategy for reaching out to a larger customer base.