Food and Beverages Case Study

The Challenges:

Challenges

An elite level company operating in the fruit and vegetable sector was finding it difficult to sustain their market dominance. This struggle was because of the fact that in the recent past, several new players had entered the market with unique flavored products and offered the same at quite affordable prices. In the premium juice segment, small businesses and start-ups were posing a threat for the company in terms of their sustainability and leadership. Emergence of a bunch of small scale competitor led to a price war in the fruit and vegetables market. This became a huge restraining factor for the growth of the client as it impeded the development of its brand leadership in the sophisticated and high-end product segment. The client wanted to explore new strategies and modern day marketing growth hacks to overcome this price war without compromising on its premium range of fresh vegetable and fruit juices.

Perspectives:

Perspectives

Modern day customers have become extremely conscious about their overall fitness and health. They are highly selective about the kind of food they consume and the amount of calories they burn. Naturally, the quality and the authenticity of their preferred food products and beverages is of utmost importance. This presented a unique opportunity for the client. As the quality and authenticity plays a crucial role in influencing customers’ purchasing decisions, the client’s image as a leading and premium brand in the market could work in their favor amidst the frenzied price war. Top manufacturers in the food & beverages sector are now trying to adopt new age strategies that are in sync with customers’ preferences and address their concerns precisely. Moreover, the manufacturers are more open towards offering all the necessary information about the nutritional properties and quality of the ingredients used in the product.

Solution:

Solution

TMR carried out an in-depth research on the constantly evolving vendor landscape of the fruit and vegetable juice market. It analyzed the emerging trends and the popular strategies of different competitors of the client. In addition to this, TMR also assessed the range of challenges that the competitors are facing. What TMR proposed to the client was to position themselves as a provider of high quality products along with focus on brand’s long standing credibility and goodwill. We told the client to target health and label-conscious customers. In the process, the brand equity would work as a solid foundation for the client’s future marketing strategies that could assist in driving up the sales of its high end products in the market who face a competition from unique flavored juices and cheaper products. With the help of innovative marketing and branding campaigns, the client could align themselves with sentiments of their consumers and gain their trust. This would have a two-fold effect of driving up sales as well as maintain itself as a premium brand in the market. It is critical to communicate the brand’s core philosophies and values through multiple media (online as well as offline). This could lead to a direct and personal communication with the customer, which will strengthen its position as a trustworthy and premium brand in the fruit and vegetable juice market.

Transformation and Results:

Transformation and Results

As branding has become a critical component of the client’s new business tactics, it led to the need of changes in several other strategic management systems as well as business policies. Driven by the objective of highlighting the brand’s legacy, credibility, and reliability, and come out unscathed from the price war, the client deployed a multitude of innovative and attractive marketing and promotional campaigns to communicate with its consumers. The results were highly positive as several existing as well as new consumers participated in myriad of entertaining as well as engaging activities. The client put in substantial resources in developing highly engaging content to motivate consumers to be a part of their promotional campaigns. It employed a two-way communication channel to make consumers feel heard and valued. The client made a very innovative use of social media marketing to reach out to existing as well as a large base of new customers. For instance, the client put a greater emphasis on the use and benefits of eco-friendly and biodegradable packaging to reiterate their commitment towards greener and safer future. The brand’s legacy and market equity also played an important role in making the overall campaign successful.