Identifying Unmet Needs and Customer Perceptions
About the Client
For over 7 years, the client has been a leading firm in the food and beverage industry, serving customers throughout the Western United States and South America.
Business Challenge
With rising competition, latest technological advancements, and changes in customer preferences, companies in the food industry need to embrace new models and strategies to compete in the marketplace. This makes it vital for companies in the food industry to gain detailed insights into the competitors, understand customers’ needs and preferences, latest market trends, and consumer buying patterns to better position their products and services in the target markets.
A leading firm in the food and beverage industry wanted to assess customers’ perception of their current offerings and strength of competing brands. The client realized that as technology improves, and the customers’ need advances, identifying the unmet customer needs was the only way to keep up their market position. Moreover, without a strategic approach to customer needs analysis, they encountered costly risks from demand and supply mismatch, which affected their customer satisfaction and resulted in revenue losses for the company. By leveraging Infiniti’s customer needs analysis, they wanted to define current and future customers’ unmet needs and understand customers’ buying criteria.
Are you looking to identify and meet your customer needs? Well, this can be a daunting task if you haven’t paid close attention to customer needs before. Learn how Infiniti’s customer needs analysis can help – Request a FREE brochure.
Top Challenges Faced by the Food Industry Client
Problem Statement 1: Demand for convenience
Tech-driven delivery systems have disrupted the traditional business model. With technological advancements in the food industry, customers have become more demanding. This compelled the client to leverage Infiniti’s customer needs analysis solutions to meet customer demands and ensure convenience.
Problem Statement 2: More discerning tastes
Today, customers have become more discerning. They are seeking out exciting and higher-quality meals. Due to this trend, the client realized the need to leverage customer needs analysis to better meet customers’ demand and sustain their market position.
Problem Statement 3: Opting for healthier foods
The modern customers’ emphasis on health has extended beyond the gym, leading to healthy eating habits. Hence, the client’s unstructured approach to customer needs assessment resulted in revenue losses for the company, leading to a sharp decline in their market position. With the help of Infiniti’s customer needs analysis solution, the client wanted to continuously improve the quality of their products by monitoring the initiatives undertaken by their competitors.
Problem Statement 4: Retaining profitability
Owing to commodity price shifts and dynamism in the market, the client found it challenging to retain their profit margins. By leveraging our customer needs analysis solution, they wanted to develop a standardized set of processes and competitive benchmarking metrics.
Customer needs are dynamic, and most companies often lose track of their changing customer needs. Are you finding it challenging too?