How FMI’s Branding Solutions Helped a Premium Beverage Company Survive a Price War
Food and Beverage
A top-tiered company in the fruit and vegetable juice industry was struggling to maintain an edge, as new players entered the market with low-priced and unique flavours of products. Start-ups and small businesses were becoming a threat for the client to uphold its position in the premium juice category. A slew of small-scale competitors triggered a price war in the fruit and vegetable juice market, creating a major challenge for the client to retain its brand leadership in the high-end product category. The client needed new strategies to survive this price war without losing its consolidation with its premium range of fresh fruit and vegetable juices.
Modern consumers are becoming extremely critical about their health and fitness, and this has triggered high concerns towards the quality and authenticity of food products and beverages. The authenticity of fresh fruit and vegetable juices plays a pivotal role in consumers’ purchasing decisions, and the brand’s image as a premium brand could be the client’s best strength amidst the price war. Leading manufacturers in the food & beverage industry are adopting new strategies that sync with consumers’ concerns about the quality and nutritional properties of ingredients in a product.
FMI carried out a thorough research on the rapidly-changing competitive landscape of the fruit and vegetable juice market, to assess winning strategies of the client’s competitors as well as the challenges for small players in the market. FMI proposed targeting health- and label-conscious consumers, and promoting the brand’s values such as credibility and unimpeachable quality of the product. Brand equity could remain a pillar of the client’s future strategies that could help in boosting the sales of its premium-priced products in the market that is being flooded with cheaper products and unique flavours of juices. Through innovative branding campaigns, the client could reach the emotional grounds to gain consumers’ trust, and boost sales while maintaining its premium branding. Communicating the brand’s core values and philosophies through various media could trigger consumers’ emotions and pull the right strings to reinstate the brand’s position in the premium fruit and vegetable juice market.
As branding becomes an important part of the client’s new business strategies, it triggered modifications in various other business policies and strategic management systems. Fueled by the goal to hinge on the brand’s reliability and survive the price war, the client carried out multiple promotional campaigns to instigate its target consumers to participate in engaging and entertaining activities. The client invested heavily in creating compelling content to encourage consumers to be a part of the company’s fun campaigns and reinforce the brand values through two-way conversations. To implement the integrated marketing strategies, the client also revamped its packaging and digital marketing content, and shifted its focus on social media marketing to reach a larger consumer base. Another factor that helped the client fortify its position as a premium brand through brand equity was sustainability. The client emphasized on the use of biodegradable and environment-friendly packaging to reiterate its commitment towards environmental footprint along with consumer health. This helped the client expand its reach to health-conscious and environmentally-aware consumers, and further enhance the impact of its campaigns.