📍This is the Codebasics Resume Project Challenge. Domain: F & B Function: Marketing
📍CodeX is a German beverage company that is aiming to make its mark in the Indian market. A few months ago, they launched their energy drink in 10 cities in India.
📍Their Marketing team is responsible for increasing brand awareness, market share, and product development. They conducted a survey in those 10 cities and received results from 10k respondents. Peter Pandey, a marketing data analyst is tasked to convert these survey results to meaningful insights which the team can use to drive actions.
Imagine yourself as Peter Pandey, and do the following tasks,
📍Check the “Primary_Secondary_Insights.pdf” and answer the questions by analyzing the data provided. You can use any tool of your choice (Python, SQL, PowerBI, Tableau, Excel, PowerPoint).
📍You can add more research questions and answer them in your presentation that suits your recommendations.
📍The target audience is the Chief Marketing Officer, you have 15 minutes to present insights to him. Make a concise presentation.
📍Be creative with your presentation, audio/video presentation will have more weightage.
📍You can use additional data based on your own research to support your recommendations
- Most of the energy drinks consumer were male with 60%.
- 19-30 age group customers responded more than others.
- online ads reached most of the customers.
- Caffeine and vitamins are the preferred ingredients.
- Portable cans has a high sales.
- cola-coka has high respondents, codeX is in 5th position.
- Brand reputation plays a major part in sales, which is questionable.
- 19-30 age groups people given most of the response on all marketing channels.
- overall ratings of codeX is 3.3
- Codex has high negative rates in High-tech cities like Hyderabad, Mumbai, and Banglore.
- Supermarket stores has high sales.
- This energy drink has been used mostly by athletes.
- Customers preferred to buy energy drinks within 100 the most.
- People purchased limited edition pack equally to normal pack.
- Product availability is the major issue in many cities and has high rate of negatives.
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Product Diversification and Innovation
📍 Introduce New Products: Analyze current trends and consumer preferences, then introduce innovative and healthier options such as plant-based, organic, or low-calorie alternatives. Special focus on dietary preferences (gluten-free, vegan) can appeal to a wider audience. 📍 Seasonal and Limited Edition Items: Launch limited-time or seasonal products to create urgency and excitement among customers. These could include holiday-themed beverages or foods with special flavors. -
Optimize Pricing and Promotions 📍 Dynamic Pricing Strategy: Analyze competitors' pricing and adjust accordingly, offering competitive pricing without compromising profit margins. Implement a tiered pricing structure to cater to different income groups. 📍 Loyalty Programs and Discounts: Create attractive loyalty programs to reward repeat customers. Offering discounts or bundling popular products can encourage higher purchase volumes.
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Improve Distribution and Availability 📍 Expand to New Markets: Identify untapped geographical locations and expand distribution, especially in regions where competitors have a weaker presence. This could also include an international expansion strategy if feasible. 📍 Leverage E-Commerce: Increase online sales through partnerships with popular food delivery services and improve the company’s e-commerce platform. Optimize user experience on mobile and desktop to drive online orders.
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Enhance Customer Experience and Engagement 📍 Improve Packaging and Branding: Redesign packaging to make it more visually appealing, eco-friendly, and informative. Consider packaging that highlights product benefits, sustainability, or ingredients clearly. 📍 Personalized Marketing: Use data analytics to offer personalized recommendations, targeted ads, and promotions. Email marketing campaigns tailored to customer preferences can also boost engagement and retention.
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Focus on Sustainability and Health Trends 📍 Sustainability Initiatives: Promote environmentally-friendly practices, such as using biodegradable packaging, reducing carbon emissions in production, and sourcing local ingredients. This will attract eco-conscious consumers. 📍 Health-Conscious Product Lines: As consumers are becoming more health-aware, reformulate existing products to reduce sugar, fat, and artificial additives. Create product lines emphasizing health benefits like immune-boosting ingredients.
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Strengthen Marketing and Brand Awareness 📍 Leverage Influencer Marketing: Partner with influencers, food bloggers, and social media personalities to reach new audiences, particularly on Instagram, TikTok, and YouTube, where food and beverage content thrives. 📍 Targeted Digital Campaigns: Invest in social media marketing, content creation, and SEO to strengthen the company’s online presence. Digital advertising, including paid search and social media ads, can reach niche markets more effectively.
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Enhance In-Store Experience 📍 Collaborations with Retailers: Negotiate better in-store placements and promotional displays to increase visibility. Consider partnerships with large retailers to co-brand products. 📍 Experiential Marketing: Organize in-store tasting events, pop-up shops, and food festivals where consumers can sample products. This can create buzz and encourage immediate purchases.
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Expand Strategic Partnerships 📍 Collaborations with Other Brands: Partner with complementary brands in the food and beverage industry to create co-branded products or cross-promotions. 📍 Strategic Sponsorships and Collaborations: Sponsor events or team up with health, fitness, or lifestyle brands to align with current consumer interests and boost visibility.