What the Client Wanted
Gained a 360-degree approach to the market effectiveness and enhanced the ROI.
Food Service Industry Overview
The global food service industry includes restaurants and leading food chains that aim at expanding their consumer base by offering low-cost options to the customers to replace home-cooked meals. Over the years, the global food service industry has been greatly affected by economic volatility, altering consumer preferences, and market dynamism. As a result, leading food service companies are exploring innovative ways to meet the relentless demands of customers and improve their position in the market.
Food Service Industry Challenges
Shortage in the supply of raw materials: Of late, the food service industry has been witnessing a drastic shortage in the supply of raw materials and this can is due to the adverse weather conditions and natural calamities. Moreover, with the changing climatic conditions across the globe, the supply of raw materials has been hindered.
Economic instability: Owing to the recent fluctuations in the economy, the prices of the commodities have been increasing. This is mainly due to the extravagant tax rates being imposed by the governments across the globe. This fluctuation in the prices of commodities has greatly reduced the consumer’s spending.
About the Client
A leading food service provider based out of the United States with an annual revenue of over USD 6 billion.
The food service provider with a considerable number of business units spread across the globe wanted to establish an optimum marketing mix model. Additionally, the client wanted to comprehend the problems related to their marketing spend and leverage the use of marketing mix modeling to stimulate customer outcomes –incremental volumes, revenues, and ROI.
Summary of our marketing mix optimization engagement
To gain in-depth insights into our marketing mix optimization engagement for food and beverage industry players
With the help of Quantzig’s marketing mix optimization engagement, the food service provider quantified the marketing effectiveness of their channels in terms of revenue, contributions, incremental sales, and ROI. Additionally, the client gained a 360-degree approach to the market effectiveness and optimized their marketing efforts and measured an increment in the revenue and profit. The client also leveraged insights into market conditions to further improve the decision-making process and unlock organizations’ potential.
Marketing Mix Optimization Solution Insights
Quantzig’s marketing mix optimization engagements can help firms in the food and beverage space to measure the impact of long-term sales and the overall customer experience. Additionally, food service providers across the globe can measure how specific channels are performed at specific time intervals in the presence of negative media publicity. This further helps companies evaluate their ROI.