With the change in the configuration of the markets and businesses, companies must think clearly, adapt to the new rules of the game and avoid, as far as possible, immediately implementing the policy of low prices.
The economic crisis resulting from the outbreak of covid-19 has changed the rules of the game in the markets at a global level. Some companies, in their attempt to stay in business, have opted to lower their prices, even to levels where they could incur losses.
Does it make sense to keep doing surveys to evaluate, for example, the ranking of a brand, when all the real, honest, and unbiased information can be inferred from people's behavior on the Internet?
"... Traditionally, when teachers or business people needed data, they commissioned surveys. They obtained data in an orderly fashion, either in figures or in boxes marked on questionnaires.
How many people live around a shopping center, how old they are, what is their consumption level and what products or services they are looking for, are some of the questions that can be answered with the new geomarketing tools.
Measuring the potential demand of micro markets, based on the evaluation of the environment of a shopping center and its comparison with other similar sales points, has become essential to design adequate commercial strategies.
A 15-minute walk from the Malecon in Managua, Nicaragua, there is a captive market of 26,000 people who together spend $17 million, and of these, 31% show an interest in alcoholic beverages.
In CentralAmericaData we developed a geomarketing tool based on interactive maps, through which you can identify where people are and what characteristics they have as consumers.
Conveying solid arguments to highlight the importance of the product or service, offering goods with long-term guarantees and being considered essential, are part of the strategies that could increase companies' sales in the new commercial reality.
The changes in people's habits that emerged in the context of the mobility restrictions imposed by the pandemic accelerated the transformation of Central American markets and completely changed the way consumers behave.
In order to reach customers who, have great uncertainty at the time of purchase and to improve the unit margin of the products sold, flexibility must be offered in the cancellation conditions to increase the probability of successful sales, even at higher prices.
In difficult times, such as the current scenario generated by covid-19, the companies that win will be those that provide greater peace of mind to their customers, even if they sell their products at higher prices.
Knowing the interests of potential customers and their location, their spending capacity and their ages, is fundamental to making decisions such as where to open a new sales point, or to define how to reach certain types of customers.
In CentralAmericaData we developed a geomarketing tool based on interactive isochronous maps, through which you can identify where people are and what characteristics they have as consumers. The map incorporates, for any Central American country, the variables population, income, average monthly expenditure and consumer interests. With this information, it is possible to identify potential clients and define promotional strategies accordingly, or also explore home delivery times from any sales point.
Locating customers and estimating their potential consumption, choosing strategic locations for distribution points and calculating product delivery times are some of the tasks that occupy companies in this context of changing consumption patterns.
Many of the changes in purchasing patterns resulting from the crisis generated by the Covid-19 virus in the region will not be temporary; several of them are here to stay.
To have clear the purpose of the organization and to improve the "human" experience of the relationship client - brand, are the two trends that the experts visualize in the strategies of the companies in the next years.
According to the "2020 Global Marketing Trends Report", prepared by Deloitte, there are five other trends that derive from human purpose and experience: fusion, trust, participation, talent and agility.
Beverage Industry Digital Magazine established in 1942, the oldest Spanish trade journal and the only beverage trade magazine serving the Latin American beverage market. It serves soft drink bottlers, brewers, bottled water...
español
4283
