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Marketing Intelligence Study for a Food and Beverage Company – An Infiniti Research Success Story

Business Challenge 

To keep pace with the growing demands of customers, food and beverage companies are constantly brainstorming new ideas, leveraging market research, and investing millions of dollars into finding the right market niche for their product offerings. Amidst the rising competition, companies that lack knowledge about changes in the market, competitor offerings, and customers’ preferences may find it difficult to thrive in the market. As a result, the need to have a marketing intelligence strategy in place has become vital for businesses.

The client, a leading food and beverage company in the US, introduced a new product in the market. They spent over $7 million on advertising the product on television and in print. But the product failed to gain traction from customers as the company targeted the wrong customer group. Moreover, customers found the product price to be quite expensive. Owing to this, the overall sales of the company plunged by 15%. Due to the dip in sales rate, the company had to discontinue the product in less than a year after it was introduced.

To make up for the lost sales, the client decided to introduce another healthy food product in the market. Before the product launch, the client wanted to thoroughly analyze the target audiences and research their competitors. With Infiniti’s marketing intelligence solution, the client wanted to build a robust marketing strategy, measure marketing progress, set competitive prices for the product, and deliver growth across all customer segments.

Rising market competition demands intelligent marketing solutions. Request a FREE brochure to learn more about our marketing intelligence strategies.

Solutions Offered and Value Delivered

Infiniti’s marketing intelligence research involved a detailed analysis of the client’s target audiences, key competitors, and profitable market segments. The marketing intelligence research offered to the client also helped them in devising a robust marketing strategy to promote their new food product. Also, by closely analyzing competitors, the client was able to ascertain the demand for similar products in the target market. This helped them set competitive prices for their new product.

They were also able to measure marketing progress and wisely spend their resources and money on advertising. With this, the client was able to attract lucrative customer segments and enhance sales for their newly introduced product. Within one year of product introduction, the client was able to exceed the sales expectations. As a result of the marketing intelligence study, the company was able to increase their profit margins by 25%.

To be successful in today’s competitive market, businesses must be able to accurately fulfill consumers’ demands seamlessly. Request a FREE proposal to know how our marketing intelligence solution can help you succeed in this competitive market.

Importance of Marketing Intelligence

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Decoding the real importance of market intelligence services in 2019

Expansion is the sign of a healthy business. And with the aid of market intelligence services, business expansion is no longer a distant dream for emerging companies. 

Recruiting more staff, expanding into new markets, and building industry reputation are all exciting developments that come with growth. But in today’s competitive market space, growing businesses face a host of different challenges. As the company grows, business leaders start realizing that there is no “one size that fits all” approach – every new opportunity and problem will eventually start demanding different solutions. What worked a year back may not work this year and may not be the best approach. Identifying and mitigating challenges associated with market entry is essential if the business is to survive. Effective leadership will help business leaders make the most of existing opportunities but leveraging market intelligence services can unlock the doors to a lucrative new market segment.

With the rising pressure to sustain profitability and brand image in the market, companies have started facing the need to outpace their opponents when it comes to retaining and acquiring new customers. There’s nothing more depressing to the stakeholders than slow sales or high competition. Companies of today need to be on their toes and constantly think about ways to attract, serve, and retain their customers. Consumers change with every generation and companies need to be agile enough to serve the market as it stands in any given year. Whether you’re in the healthcare, automotive, manufacturing, or retail industry, market intelligence services are still essential for survival. With that being said, let’s take a look at what is market intelligence below and how it can take your business to the next level. (more…)

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