Cogent Foods is a Mumbai-based food processing company which provides preservative-free prepared ingredients and ready-to-eat foods to HORECA (Hotels, Restaurants & Catering) segment.
The company wanted to expand its business into consumer segment (B2C) for Bakery/desserts, Fresh cut vegetables & Granola category and hence required a consumer research to understand the Consumption basket, Buying behavior, Competition intensity, Market gaps & expectations.
The following segments were covered for all three categories:
- Consumer surveys: To understand their consumption pattern, purchase channel, considerations for purchasing & perception of current products available in the market under the targeted categories along with the past experiences & future expectations.
- Middlemen surveys: To understand the brand presence & variety present in retail; product placement & facings, market share of existing brands and trade terms.
Approach
- Given the segment of products, such retail formats were only covered where there is a significant penetration of target products like Hypermarkets & Supermarkets
- Mapping of super/hypermarkets area wise to avoid any area-type or supermarket-brand wise bias
- Consumers were engaged as a part of exit interviews and maintaining a proper ratio between the consumers & non-consumers of the products to get the motivators as well as blockers of consumption
Outcome
The research helped generate insights around:
- Category penetration – Mapping brands & their product variants available in the B2C segment
- Consumer awareness & adoption about the target products
- Consumption basket – occasion, frequency & quantum of consumption
- Most preferred brands, products variants & pack sizes
- Consumer loyalty for existent brands in the segment and acceptance of new company
- Market sizing & accessible market opportunity in near term
- Unmet needs & expectations
- Product, Price, Retail & Brand building strategy for the target segments
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