Market Research
Market Research
Market Research
launching and promoting your packed milkshake products in India. Here's a detailed plan:
1. Market Research:
- Conduct thorough market research to understand consumer preferences, purchasing
behavior, and competition in the South Indian market.
- Analyze market trends, such as the growing demand for convenient and healthy
beverages, especially among urban consumers.
- Utilize data from market research firms like Nielsen, Euromonitor, or local research
agencies to gain insights into consumer demographics and preferences in South India.
3. Distribution Strategy:
- Establish a robust distribution network to ensure widespread availability of your products
across South India. This can include partnerships with distributors, wholesalers, retailers,
and supermarkets.
- Consider leveraging modern trade channels like hypermarkets and supermarkets, which
are gaining popularity in urban areas of South India. Target chains like Big Bazaar, Reliance
Fresh, and Spencer's Retail.
- Additionally, explore online distribution channels such as e-commerce platforms like
Amazon, Flipkart, or specialized grocery delivery services like BigBasket and Grofers to
reach tech-savvy consumers.
4. Pricing Strategy:
- Set competitive yet profitable pricing for your products, considering factors like production
costs, competitor pricing, and consumer willingness to pay.
- Conduct price sensitivity analysis and adjust pricing accordingly to maximize sales and
profitability.
- Utilize promotional pricing strategies such as introductory discounts, bundle offers, and
seasonal promotions to attract customers and drive sales.
By following these steps and implementing a well-rounded GTM strategy, you can effectively
introduce and promote your packed milkshake products in South India, driving sales and
building a strong brand presence in the region.
Retailers-
Hyper markets
Large Institutions- includes
Airport-Shreya
railway stations- Railway stations
Schools, coaching and universities- Madhu
Hospitals- Abhinav
Corporate offices- Abhinav
Online- Madhu
Army Canteen- Abhinav
Large Institutions
Universities:
Pros:
Targeted Audience
Convenient Access
Brand Awareness and Trial
According to a study by Nielsen, sampling activities can increase purchase intent by
up to 74% among consumers.
Cons:
Seasonality- summers are for cold beverages, but most universities are closed or
have low footfall in summers.
Regulations and Permits
Coaching centres
Pros:
Targeted audience
High foot traffic: coaching centres mostly operate during the consumption time.
Healthy Snacking Option
Brand exposure
Cons:
Logistics: Limited space for stocking- smaller facilities
Competition
Office canteens:
Pros:
Capturing a Captive Audience
Regular Consumption Patterns
Convenience and Accessibility
Bulk Sales Potential
Cons
Cost Considerations:
● Negotiating competitive pricing with office canteens while maintaining
profitability can be challenging, especially if competing against established
brands or suppliers offering volume discounts.
Competition from Existing Suppliers
Ecommerce:
Divided into two.
Direct channel: Future prospect
**Pros:**
1. **Wider Reach**: Online delivery platforms allow you to reach a broader audience
beyond traditional retail channels, including consumers in remote or underserved
areas.
4. **Customer Insights**: Online platforms provide valuable data and analytics about
consumer behavior, preferences, and purchase patterns, enabling you to tailor your
marketing strategies and product offerings accordingly.
**Cons:**
5. **Data Access**: While online platforms provide valuable consumer data, access
to this data may be limited or controlled by the platform itself. Building your
customer database and insights may be more challenging compared to direct sales
channels.
1. **Market Size**: The online grocery delivery market in India was valued at
approximately $3 billion in 2021 and is expected to grow at a CAGR of over 50% from
2022 to 2026, according to Statista.
2. **User Base**: Platforms like Dunzo and Blinkit have experienced significant
growth in user adoption, particularly in urban areas, with millions of active users
ordering a wide range of products, including groceries and beverages.