Use of Customer Analytics & Business Feasibility for Market Entry and Positioning
Case Study of a Ready Meal Food Brand
A large scale Business Feasibility study was conducted for launch of a Ready Meal product amongst mothers in middle to high income families in GCC to understand their habits and Behavior related to School Tiffin preparation for their children and their concern with its nutritional aspect.
The project included both large market research study and use of Advanced analytics . A significantly large amount of unstructured data was collected from mothers and family members on various aspect of cooking and tiffin preparation preferences, habits and behavior as well as children’s snacking preference and behavior along with buying behavior related to children’s snacks and beverages.
The collected data was analyzed using multivariate analysis based on various factors like demographics (nationality/ethnicity, Family Size, children’s age/gender, income, location), mother’s working status, school canteen standard and range etc for over 150 different type of Food/Tiffin preparations and ready meals and snacks which was mapped with seven preference attributes like Nutrition, Time Saving , Cost ,Children’s likes/dislike etc. The analysis helped to accurately segment the market and carve out the top three niche market segments for the new ready meal product . A comprehensive marketing strategy was developed on how the product needs to be positioned in different consumer segments along with the main preference attributes that need to be advertised for best marketing impact. The analytics also indicated some product improvements for better match to some critical expectations of main consumer segments.
Furthermore the large scale data and the advanced analytics also revealed valuable insights for new ready-meal product ideas and design that can be developed and launched successfully.