How to stay one step ahead of the competition: a regular study of consumer trends for a manufacturer of food ingredients
Many companies in the FMCG sector who want to stay innovative, decide on periodic market studies, which allow them to track consumer habits. Without a doubt, the most crucial business benefit of regularly monitoring a particular segment is that it enables a company to follow a prudent business strategy that anticipates the competition’s moves and changes in the market.
Our client, an international manufacturer of food ingredients, asked us to regularly monitor the B2B and B2C markets. The study was conducted among companies and consumers who are the recipients of the company’s final product. The project was supplemented by an in-depth desk research analysis and expert interviews.
The project consisted of multiple stages. During the first stage, PMR conducted a B2C study. We conducted 500 CATI interviews with Polish consumers. The survey contained a series of questions regarding the level of consumption of products from our client’s segment, and questions which allowed us to identify changes in dietary trends.
The second stage involved a B2B survey of companies from the client’s target audience. We measured the stated levels of demand for the product categories offered by our client. Furthermore, we analyzed the level of brand awareness and satisfaction with their services compared to those of their competitors.
Because the client puts particular emphasis on innovation and anticipating market trends, the project was supplemented by information obtained via a desk research analysis and expert interviews with direct competitors and industry representatives. This allowed us to track changes in trends in European markets, and indicate the directions in which the market will evolve, which resulted in useful business recommendations for the client.
Value for the client
PMR delivered a detailed report, presenting findings from previous studies, and providing data on market changes. What was of particular value for the client was the information on market trends which will dominate the sector in the coming years. On the basis of changes observed among B2B and B2C consumers, and the information obtained during expert interviews, PMR presented detailed recommendations regarding the product offer and marketing strategy. This will enable the client to maintain a high level of innovation and stay one step ahead of the competition.
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