Obtaining clarity on customer behavior and buying preferences. A leading consumer food products manufacturer wanted us to analyze customer behavior and buying preferences specific to particular product categories.
Reduction in sales volumes due to lack of clarity on customer behavior
The food products client was facing dropping sales and were not able to ascertain how they can influence customers and improve sales. They wanted us to analyze and predict the future buying patterns and identify consumers that can be targeted and influenced.
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Correlation and regression modeling of customer data to predict future customer behavior
We used highly structured surveys and questionnaires to collect customer data and conducted data analysis to assess purchase patterns and preferences. We conducted an ethnographic study for environments in which participants live, work or spend their spare time. Correlation and regression modeling was done on the qualitative and quantitative data along with CRM data to predict future behavior and buying patterns.
Improved ROI from spend on marketing activities
The food products client gained visibility on the factors that influenced consumer buying behavior for their brand. We also provided comparative analysis with the competing brands, which helped the client assess the strengths and weakness of its own brand in comparison to the competition. A statistical model was built which enabled the client to analyze and predict the customer behavior and future buying patterns of various customer segments and target the right customer segmentation for immediate impact on sales.