In every organization, understanding the behavior of the customers and their motivating factors play a pivotal role in devising an effective marketing strategy. To understand the spend patterns, leading organizations in the beverage industry are utilizing category management studies. Category management ensures better visibility into the procurement process by allowing the category managers to effectively focus on their time. In the beverage sector, effective category management is all about applying better procurement methodologies to ensure maximum savings. With the help of efficient category management services, market-leading enterprises can improve supplier performance, mitigate supplier risks, and drive new innovations.
With years of expertise in offering category management services, SpendEdge’s category management analysts deliver better value to the customers. The analysts also provide better insights to the client in terms of sales, shopping environment, and customer loyalty. The client was further able to maximize customers appeal against the products while generating maximum profits. Furthermore, the engagement helped the organization’s category manager develop a robust customer proposition through a data-driven assortment planning.
The Procurement Pain Point and Insights Offered
A renowned client in the beverage industry was facing predicaments in developing a demand intelligence report and further driving category growth. The client wanted to gauge the customer data and make better-informed business decisions. Furthermore, the client wanted to leverage the use of category reporting to import and process demand data. The client further wanted to craft a customizable user dashboard for effective data analysis.
To gauge the data of the customers in an agile and efficient manner, SpendEdge’s category management analysts carried out extensive research comprising of interviews and discussions with leading stakeholders in the beverage industry. The analysts further compiled information from various proprietary sources such as paid industry databases, company presentations, and newsletters in the beverage industry.
After gauging through the complete history of the customers’ data, the beverage client was able to gain better visibility into the category management process. Also, the client was able to improve the category management process by half and identify the key drivers and establish a better relationship with customers.
Key questions answered in this category management include
After a comprehensive data analysis, the client was able to create a robust strategic demand intelligence report. The engagement also assisted the client in identifying growth drivers and provided buyers with an accurate picture of the entire category. The client was able to shift toward a consumer-centric environment and provided a complete snapshot of the weekly performance to the buyer.