CodeX is a German beverage company that wants to make its mark in India. A few months ago, they launched their energy drink in 10 cities across the country. The Marketing team is focused on getting people to know the brand, gaining more customers, and developing products that people will love.
To understand what people think, they did a survey in those 10 cities and got responses from 10,000 people. My job as a data analyst is to turn all this information into useful insights that the marketing team can use to improve their plans and make CodeX a success in India.
- Demographic insights
- Consumer preferences
- Competition analysis
- Marketing channels and brand awareness
- Brand penetration
- Purchase behavior
- Product development
- Recommendations for CodeX
- Who prefers energy drinks more? (male/female/non-binary?)
The male prefers energy drinks more as compared to Females and non-binary.
- Which age group prefers energy drinks more?
The age between 19 - 30 prefers energy drinks more as compared to others.
- Which type of marketing reaches the most Youth (15-30)?
Online ads and TV commercials reach the most youth.
- What are the preferred ingredients of energy drinks among respondents?
Caffeine and Vitamins are the preferred ingredients of energy drinks among respondents.
- What packaging preferences do respondents have for energy drinks?
The respondents have preferences for compact and portable cans and innovative bottle designs in energy drink packaging.
- Who are the current market leaders?
Cola-Coka is the current market leader followed by Bepsi in the energy drink market.
- What are the primary reasons consumers prefer those brands over ours?
Consumers prefer those brands due to their brand reputation, taste/flavor preference, and availability.
- Which marketing channel can be used to reach more customers?
Online ads would be more efficient for reaching a larger customer base.
- How effective are different marketing strategies and channels in reaching our customers?
Online ads and TV commercials are very effective, reaching 4020 and 2688 respondents, respectively. Outdoor billboards, other channels, and print media are also effective but reach fewer respondents, engaging 1226, 1225, and 841 respondents, respectively.
- What do people think about our brand? (overall rating)
The overall rating of CodeX is 3.28 which is good.
- Which cities do we need to focus more on?
We need to focus more on Bangalore, Pune, Hyderabad, Mumbai, and Chennai. There is a high negative perception in Bangalore, Pune, Hyderabad, and Mumbai, while the neutral perception in Bangalore, Hyderabad, and Mumbai is very high. Therefore, these five cities require our focus.
- Where do respondents prefer to purchase energy drinks?
Respondents prefer to purchase energy drinks from Supermakets.
- What are the typical consumption situations for energy drinks among respondents?
Respondents typically prefer to consume energy drinks during, after, or before sports/exercise and while studying or working late.
- What factors influence respondents' purchase decisions, such as price range and limited edition packaging?
- Price Range
The price range significantly influences respondents' purchase decisions. 43% of respondents believe the price should be between 50-99, while 31% prefer a range of 100-150. Therefore, pricing plays a crucial role; if the price is high, respondents are less likely to buy, but if it is lower, they are more inclined to make a purchase.
- Limited Edition Packaging
The majority of people (4023) are not interested in limited-edition packaging, while slightly fewer (3946) are interested in it. Hence, it does have an impact.
1. Which area of business should we focus more on our product development? (Branding/taste/availability)
We should focus on enhancing brand reputation and product availability.
- Heard about CodeX before?
56% of the people have not heard about CodeX before.
- Reasons Preventing Trying CodeX
- Improvement Desired in the CodeX
- Health Concerns regarding CodeX energy drink
- Interest of people in Natural or Organic product.
- Increase Brand Awareness: Launch a comprehensive marketing campaign targeting the 56% of respondents who haven't heard of Codex before. Utilize various channels such as social media, influencer collaborations, and targeted advertising to increase visibility and reach.
- Improve Distribution: Address the issue of limited availability by expanding distribution channels. Work on partnerships with more retailers and outlets to ensure easy access for customers, addressing the concerns of the 25% who find it difficult to find the product locally.
- Reduce Sugar Content: Reformulate the product to reduce sugar content. Considering that almost 30% of respondents expressed a desire for lower sugar content and 60% have health concerns, this adjustment aligns with consumer preferences and health-conscious trends. Additionally, capitalize on the 25% who prefer more natural products and the nearly 50% interested in organic or natural offerings by emphasizing the natural ingredients in the marketing messaging.
- Ideal Price: The ideal price range for Codex should be competitive, ranging between 50 to 100.
- Youth-Centric Campaigns: Develop vibrant and dynamic marketing campaigns tailored specifically to the youth demographic (ages 15-30). Utilize trendy visuals, social media platforms, and youth influencers to create engaging content that resonates with this audience.
- Special Offers and Discounts: Implement promotional offers and discounts to incentivize trial and repeat purchases. Consider limited-time promotions, bundle deals, and loyalty programs to drive sales and foster brand loyalty among consumers.
- Brand Ambassador: A perfect fit for Codex's brand ambassador in India would be Virat Kohli, the Indian cricket team captain. His athletic prowess, dedication to fitness, and charismatic persona align seamlessly with Codex's energy-driven image. Kohli's association would add credibility and resonate strongly with the target audience, fostering brand loyalty and engagement.
- Target Audience: The primary target audience for Codex should be the youth demographic aged between 15 to 30 years old. This segment is characterized by high energy levels, active lifestyles, and a propensity for consuming energy drinks.