Business Planning

Situation

A 15-year-old company, selling retail and home bar products through stores and on-line channels was experiencing a decrease in sales. The company had an abundance of customer purchase data that was under-utilized. The company sells nationwide but did not have precise profiles of customers, understanding of the geographic location of customers nor generational structure of customers.   The company’s management believes more effective quantitative analysis of market and customer data would lead to targeted marketing and increase in sales. Specifically, management wanted to understand: who are their customers are, where they reside, what they purchase, how frequently and the next product purchase.

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Analysis

To addressing management’s objectives, we integrated an array of company customer data files (customer name, address, product purchase history and dates, pricing, frequency of purchases, reason for purchase) with market sizing data for company products, geographic information analysis (of the United States) and block group level data pertaining to income, net worth, financial position of customer households.

Analysis

To addressing management’s objectives, we integrated an array of company customer data files (customer name, address, product purchase history and dates, pricing, frequency of purchases, reason for purchase) with market sizing data for company products, geographic information analysis (of the United States) and block group level data pertaining to income, net worth, financial position of customer households.

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Insights

Through our analysis we provided the company with:

  • A detailed, organized customer ‘household file’ including generation structure of customers, male/female customers, product purchases, product history, volumes and pricing
  • A profile of their customers – generation, income and net worth and financial position
  • A geographic analysis of customers throughout the United States, organized by metro market
  • Targeted geographic markets for new customers and organic growth opportunities within current customer base
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