Marketing Mix Optimization for an Alcoholic Beverages Manufacturer Helps Understand the Sales Drivers and Enhance ROI
The client: Alcoholic beverages manufacturer Area of engagement: Marketing mix optimization The global alcoholic beverages industry predominantly includes products such as beer, wine, and spirits. Among the different types of liquor available in the market, the consumption of lager, cider, and beer is the highest – accounting for approximately 89% of the total alcoholic beverages […]READ MORE >>
The client: Alcoholic beverages manufacturer
Area of engagement: Marketing mix optimization
The global alcoholic beverages industry predominantly includes products such as beer, wine, and spirits. Among the different types of liquor available in the market, the consumption of lager, cider, and beer is the highest – accounting for approximately 89% of the total alcoholic beverages consumed across the globe. Growing urban population coupled with increasing disposable incomes in emerging economies are leading individuals to discover new forms of entertainment such as parties and spending time at lounges and bars. Furthermore, young adults with high social media influence, family incomes, and ease of access to alcoholic beverages are other factors driving sales of alcoholic beverages. However, the future of the alcoholic beverages industry depends on several factors, which are dynamic.
Some of the critical factors that are expected to influence the growth prospects of the alcoholic beverages industry over the next few years are:
- E-commerce: Today, consumer buying experience is expected to have a significant impact on the alcoholic beverages industry as e-commerce platforms are rapidly evolving across the globe. Additionally, recent research shows that the brands who are taking advantage of the digital channels can interact better with their consumers.
- Authenticity and Traditionalism: With the recent political and geopolitical events, such as Brexit and ongoing unrest in Middle-East and constant changes in technology, the future of the alcoholic beverages industry is more unpredictable than ever. Therefore, to gain a stronger foothold in this fast-paced and ever-changing lifestyle, consumers are looking for authenticity and traditions.
These factors are compelling firms in the alcoholic beverages industry to leverage the use of marketing mix optimization solutions. Marketing mix optimization solutions help companies assess the impact of their marketing activity across different channels. Additionally, these solutions help firms evaluate the performance of past marketing initiatives and optimize the future spend to improve business performance.
The Business Challenge
The key sectors of the market depending upon sales channel are specialty stores, modern trade, convenience stores, commercial, hotels, restaurants, bars, and online retailers.
The client, a leading company in the alcoholic beverages industry with business operations spread across the globe, wanted to effectively allocate the future spend and enhance their market attractiveness. The client also wanted to align themselves with the business planning process better and increase sales, profit, and shareholder value. Additionally, with the help of marketing mix optimization solutions, the client wanted to measure the impact of advertising on the overall sales revenue.
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The Solution and the Business Impact
With the help Quantzig’s marketing mix solutions, the company specializing in the manufacturing of alcoholic beverages, accurately tracked media spend and sales and improved overall business performance. Additionally, the client effectively allocated their marketing budget and spend on media platforms to increase customer visibility. This helped them increase brand appeal and increase ROI for their offerings across various media platforms.
Marketing Mix Optimization Predictive Insights
Companies can analyze the impact of brand equity and customer satisfaction on the overall sales revenue with the help of marketing mix solutions. Additionally, they can comprehend the impact of traditional, digital, and social media on sales performance.