可口可乐市场分析.ppt

InsidethemindsandpocketsofLatinAmericanconsumersHowconsumersbuildpriceperceptionanditsimpactonretailers 1 THECOCA COLARETAILINGRESEARCHCOUNCIL LATINAMERICA TheCoca ColaRetailingResearchCouncil LatinAmerica CCRRC LA isdedicatedtodevelopingabetterunderstandingofthefoodretailingandalliedmerchandisedistributionbusinessinLatinAmerica Itconcentratesinidentifyingandthenstudyingselectedrelevantissues presentingitsfindingstothemanufacturingandretailingcommunities inordertoassistinthedevelopmentandenhancementofthefoodretailingbusiness LatinAmericaCouncilMembersJonathanBergerCIESUSAHowardButtIIIHEBMexicoGuillermoD AndreaCouncilResearchDirectorAnaMariaDinizGrupoPaodeAcucarBrazilPauloGoelzerIGA Inc BrazilAntonioCotoGutierrezDiaInternacionalArgentinaTimHammondsFMIUSANicol sIb ezD SChileGonzaloRestrepo xitoColombiaEduardoCastroWrightWal MartMexico 2 REVIEWINGTHESTUDYGOALSANDOBJECTIVES UnderstandthedriversofconsumerpriceperceptioninLatinAmerica Overallgoalsandfocuslevel Specificobjectives Understandtheimplicationsofpricingapproachesonretailersandmanufacturers Source Teamanalysis 10 ofstudyfocus 90 ofstudyfocus 3 THESTUDYLEVERAGEDTHREEMAINSOURCESOFINFORMATION ACNielsenconductedthefocusgroupsinS oPauloandthefieldresearchinallfivemarketsSource Teamanalysis 15in depthinterviewswithexecutivesofkeyretailersintheregion Methodology QualitativesurveyFocusgroupstotestinitialhypothesisQuantitativesurvey 3 000 30 minuteinterviews CorrelateconsumerresearchresultswithACNielsenscantrackinformation Understandretailerperspectiveonconsumerpriceperception Objective CaptureinsightsonconsumerpriceperceptionSegmentconsumers EnrichfindingswithACNielsenproprietarydatabasesMatchpriceperceptionwithactualprices In depthinterviews Consumersurvey ACNielsendatabase 4 CONSUMERSURVEYDETAILS Source ACNielsen teamanalysis 5 ONLYCONSUMERSWHOSHOPREGULARLYINATLEASTONEMODERNFORMATSTOREARERELEVANTFOROURANALYSIS Includeshypermarkets supermarkets mini marketsandsuburbansupermarketsSource Teamanalysis Consideredforouranalysis Consumerswhoonlyshopintraditionalformat Consumerswhoshopinitleastonemodernformat storeregularly Typicallylow endconsumersUsefultogaininsightsonthelow endmarket alreadystudiedbyCCRRCAnalysismoreusefulinastudytoincreasethepenetrationofmodernformat whatisnotthescopeofthisproject PrimarypopulationofinterestfortheCCRRCOnlyrespondentsabletoprovideanswersandcrossabledatafor AccuracyofpriceperceptionPriceperceptiondriversformodernformatEffectivenessofpromotionalactivityinpriceperceptionbuilding Oursampleisrepresentativeofmodernformatshoppers 6 21 34years 35 49years 50 years THECONSUMERSURVEYISREPRESENTATIVEOFTHEMAINSOCIO ECONOMICCLASSESANDAGEGROUPS Age BasedonACNielsensocio economicclassificationforeachmarketSource Consumersurvey Middle Low High Socio economicclass Resultstakeintoaccountthebehaviorandattitudesoflowincomeconsumers 7 Source ACNielsen NationalMarketingAssociationsofeachcountry COUNTRY LEVELACCEPTEDSTANDARDSGUIDEDOURINCOMELEVELCLASSIFICATION WeadoptedtheprinciplessuggestedbytheNationalMarketingAssociationsofeachcountry S oPaulo BuenosAires MexicoD F Santiago Bogot 8 KEYTAKEAWAYSFROMSTUDY LatinAmerica diversityofconsumers andnotjustinthedepthoftheirpocketsThefewkeyleversthatmatterinbuildingpriceperception andtheonethatdoesn tConsumers mostly gettingitrightintheirsearchforvalueRetailershaveanopportunitytogetitrightmoreoftenintheirsearchforabetterpriceproposition 9 CONSUMERSINLATINAMERICACANBESPLITINTOFIVEMAINSEGMENTS Source Consumersurvey teamanalysis Avidbargainhunters Investalotoftimeandarewillingtovisitmultiplestoresforthebestdeals Qualityseekersandtimesavers Willingtopayaslightpricepremiumtosavetimeandhaveaccesstohighqualityproducts Indifferentshoppersonabudget Donotcareaboutshopping henceinvestlittletimeinit Range seekersonabudget Wanttobringhomethebestqualityproducts butlimitedbyatightbudget Highincomeconsumerswhoarewillingtovisitmultiplestorestofindthebestdeals High incomebargainhunters 10 WERANATWO STAGECLUSTERANALYSISCOMBININGATTITUDINALANDSOCIO DEMOGRAPHICSELEMENTS Notethatnoneoftheelementsareunique however thismethodologyprovidesmanagerswithunprecedentedcontrolovertheprocess byallowingmaximummanagerialinputandthetestingofearlyhypothesisSource Teamanalysis Sampleof3 084consumersin5countries Twomainsegmentationdrivers Attitudinalelements mostcommonmethod CleanandintuitiveattitudesacrossallsegmentsLacksactionability difficulttofindconsumers Selected4mostrobustscenariosCrossedwithshoppingbehaviorKeybuyingfactorsAveragemonthlyspendFormatofmainstore Socio economic demographicsSimplewaytosegment facilitateidentificationLacksinsightsanddoesnotreflectattitudes Two stageclusteranalysisCombinesbothmethodologiestoreachmeaningfulandactionablesegmentsProcess developedandrefinedbyMcKinseyexpertsforsegmentationswithstrategicobjectives Ran20 statisticallyrelevantscenarios Selected1scenariowith5clusters 11 ALLOWINGTHEIDENTIFICATIONOFSOMECONSUMERSTOWHICHSEGMENTTHEYBELONG Source Teamanalysis LowincomelevelAge21 34yearsoldOnlyonepersononthehousehold MiddleincomelevelLargehouseholdShopsprimarilyonhypermarkets 84 probabilitythatthispersonisanAvidBargainHunter 86 probabilitythatthispersonisaRangeseekeronabudget EXAMPLE 12 INCLUDINGAHANDFULOFATTITUDINALSTATEMENTS ONECANIDENTIFYMOSTCONSUMERS Source Teamanalysis Wouldyousacrificeserviceforlowerprices Wouldyouspendalotoftimelookingforoffers Probabilityof64 tobean Indifferentshopperonabudget Yes No 21 34 35 49 50 Agegroup Ahandfulofattitudinalstatementsallowustoidentifyover50 ofallconsumers EXAMPLE 13 AVIDBARGAINHUNTERS RelylessonmodernformatsWhenshoppingonmodernformats tendtopreferdiscounters Howdotheybehave Lowestaverageexpenditurewhencomparedwithothersegments 12 belowmarketaverage Lesslikelytodostock uptripsAlwayscomparepricesatdifferentstoresTendtobetheleastloyalconsumers ShoppingaroundforthebestdealsPurchasingonlyproductstheyhadplannedonWillingtosacrificeservicesforlowerpricesSpendingalotoftimelookingforpromotionsShoppinginlargernumberofstoresrecently Whatdotheynotvalue PayingmoretoshopclosetohomePayingmoretosavetimePayingmoreforhigherquality Whatdotheyvalue Source Consumersurvey teamanalysis Shoppingbehavior Monthlyspend Format TypicallylowincomeDisproportionatenumberofmalesandolderconsumers 50 yearsold 14 AVIDBARGAINHUNTERS 15 HIGHINCOMEBARGAINHUNTERS TypicallyhighincomeconsumerAverageageandhouseholdsize Tendtospendmore 16 thantheaveragespendongroceries RelymoreonmodernformatstoresTendtopreferhypermarketsandavoidshoppingondiscounters Tendtohavehigherloyaltythanaverage S oPauloistheexception Howdotheybehave Shoppingbehavior Monthlyspend Format Source Consumersurvey teamanalysis ShoppingaroundforthebestdealsStocking upwhentheyfindattractivepromotionsGoingtoagrocerystoretheyhearisofferinggoodspecialsShoppinginmorestoresrecently Whatdotheynotvalue Payingmorefortheconvenienceofshoppingcloserhome Whatdotheyvalue 16 HIGHINCOMEBARGAINHUNTERS 17 RANGESEEKERSONABUDGET Tendtoshopmoreonhypermarkets Format HighlypricesensitiveTendtomakefewertrips S oPauloistheexception andstockuponceamonthNormallybelowaverageloyalty Howdotheybehave Tendtospendless 6 thanthemarketaverageongroceries Monthlyspend Shoppingbehavior Source Consumersurvey teamanalysis Typicallyyoung lowincomemothersLargehousehold 6ormorepeople GettinggoodqualityproductsandalargeassortmentStocking upwhentheyfindattractivepromotionsProvidingthebestpossiblequalityfortheirfamily despitetheirtightbudget Whatdotheynotvalue SacrificingservicesforlowerpricesShoppingatupscalestores Whatdotheyvalue 18 RANGESEEKERSONABUDGET 19 INDIFFERENTSHOPPERSONABUDGET Typicallylow middleincome Tendtospend 10 lessthanthemarketaverageongroceries TendtorelylessonmodernformatstoresWhenshoppingonmodernformats tendtochooseharddiscounters Howdotheybehave TendtoshoplessfrequentlyDisplayrelativelyhighloyaltytotheirmaingrocerstore Shoppingbehavior Monthlyspend Format Source Consumersurvey teamanalysis Sacrificeserviceforlowerprices Whatdotheynotvalue SpendingtimelookingfordealsStocking upwhentheyfindgoodpromotionsReadingstorepamphlets Whatdotheyvalue 20 INDIFFERENTSHOPPERSONABUDGET 21 QUALITYSEEKERSANDTIMESAVERS Howdotheybehave Highestaveragebasket 22 higherthanmarketaveragespendingongroceryshopping RelyprimarilyonmodernformatstoresWillingtoshopmoreonsupermarkets TendtoshoplessfrequentlyTendtobethemostloyalsegmentinallmarketsRarelycompareprices Shoppingbehavior Monthlyspend Format Source Consumersurvey teamanalysis TypicallyhighincomeconsumersSmallfamilies SavingtimeratherthenmoneyTheconvenienceofshoppingclosertohomeHigherquality evenathigherprices Whatdotheynotvalue SpendingtimelookingforpromotionsShoppinginmanystorestopayless Whatdotheyvalue 22 QUALITYSEEKERSANDTIMESAVERS 23 AvidBargainHunters Indifferentshoppersonabudget Qualityseekersandtimesavers High incomebargainhunters RELATIVESIZEOFTHESEGMENTSINTHEREGION 100 2 818 Numberofrespondents Source Consumersurvey Range seekersonabudget 24 THEMARKETSSHOWSIGNIFICANTDIFFERENCESINSEGMENTBREAKDOWN numberofrespondents Qualityseekersandtimesavers Rangeseekersonabudget Indifferentshoppersonabudget Avidbargainhunters S Paulo B Aires Mexico Santiago Bogot Source Consumersurvey teamanalysis Overall 583 568 550 551 565 2 818 Highincomebargainhunters 100 S oPauloandBuenosAireshaveadisproportionalshareof Bargainhunters segments Qualityseekersandtimesavers aremorerelevantinSantiagoandBogot 25 DETAILEDSEGMENTDESCRIPTION S OPAULO Numberofrespondents R 000 Source Consumersurvey teamanalysis Avidbargainhunters spend Rangeseekersonabudget Indifferentshoppersonabudget Qualityandtime Highincomebargainhunter Numberofconsumers 249 565 StoreformatHyper 47 Super 19 Disc 35 StoreformatHyper 57 Super 3 Disc 40 StoreformatHyper 77 Super 12 Disc 11 StoreformatHyper 79 Super 12 Disc 10 26 ALTHOUGHOTHERFACTORSVARYINRELEVANCE LOCATIONANDPRICEARETHETWOMOSTIMPORTANTFACTORSFORALLSEGMENTS Source Consumersurvey Location Promotions Qualityofperishableproducts Assortment Overallproductquality Indifferentshoppersonabudget Range seekersonabudget Qualityseekersandtimesavers Avidbargainhunters Whydidyouchoosetoshopatthatparticularstore Price ofconsumersthatselectedthefactorasimportant Brandvariety Servicelevel Privatelabelquality Highincomebargainhunters 27 BUTSEGMENTSVARYWIDELYINTHEFREQUENCYOFPRICECOMPARISON numberofrespondents Highincomebargainhunters Indifferentshopperonabudget Rangeseekeronabudget Qualityseekerandtimesaver Source Consumersurvey teamanalysis AvidBargainHunters 493 655 530 493 636 Always Occasionally Howoftendoyoucomparepricesbetweenstores Never Veryoften 28 FROMRETAILERS STANDPOINT SOMESEGMENTSAPPEARTOBEMOREATTRACTIVETHANOTHERS Qualityseekersandtimesavers Highincomebargainhunters Indifferentshoppersonabudget Rangeseekersonabudget Avidbargainhunters Source Consumersurvey LoyaltycomparedtoaverageShareofwalletofmainstore MonthlyspendComparedtomarketaverage Qualityseekersandtimesavers and Highincomebargainhunters spendmorethananyothersegmentandtendtobemoreloyalcustomers AvidBargainhunters and Rangeseekersonabudget aretheleastloyalsegmentsandhavesmallbasketsizes 29 BUENOSAIRESANDBOGOT HAVETHELOWESTLOYALTYRATIOOFALLMARKETS S oPaulo Santiago Mexico Bogota BuenosAires Averageloyaltyratio ShareofwalletofmainstoreSource Consumersurvey 30 SHOPPINGBEHAVIORBYSEGMENTANDMARKET Averagebasketsize verticalaxis vs loyaltyindex horizontalaxis ShareofwalletofmainstoreSource Consumersurvey S oPaulo R Santiago CLP Bogot COP Mexico MXN BuenosAires ARS Quality HIBH Range AvidBH Indifferent Quality HIBH Indifferent AvidBH Range Quality HIBH Range Indifferent AvidBH HIBH Quality Indifferent AvidBH Range Quality HIBH Indifferent AvidBH Range QualityseekersandHighincomebargainhuntersspendmorethananyothersegmentacrossallmarketsandgenerallyhavethehighestloyaltyratioAvidbargainhuntersandrangeseekersonabudgettendtospendlessthanallothersegmentsandarealsolessloyalcustomersOnaverage S oPaulo SantiagoandMexicohavethehighestloyaltyratioonallsegments 31 WHERETHEDIFFERENTSEGMENTSSHOP Indicatestoreformatthatcaptureadisproportionalshareofthesegmentcomparedtothemarketaverage H Hyper S Super andD Discounters DiscountersincludeBodegasinMexicoSource Teamanalysis Rangeseekersonabudget Avidbargainhunters Frustratedshoppers Qualityseekersandtimesavers Highincomebargainhunters acrossallmetropolitanareasstudied Percentagespentonmodernformat Higherincomesegmentsspendmoreonmodernformat Preferredformat Rangeseekersonabudget Avidbargainhunters Frustratedshoppers Qualityseekersandtimesavers Highincomebargainhunters Super Hyper Discounter Higherincomesegmentsprefersuperlowertendtowardsdiscounters hyper 32 SOMERETAILERS ATTRACT DISPROPORTIONATESHAREOFCERTAINSEGMENTS 1 3 Overall A B C D 543 74 90 47 93 Highincomebargainhunters Rangeseekersonabudget Avidbargainhunters 100 Source Consumersurvey teamanalysis Qualityseekersandtimesavers Indifferentshoppersonabudget Percentageofprimaryshoppersbysegment mainretailers S oPaulo BuenosAires 322 93 71 51 Overall A B C 33 SOMERETAILERS ATTRACT DISPROPORTIONATESHAREOFCERTAINSEGMENTS 2 3 Overall 410 59 114 51 37 Highincomebargainhunters Rangeseekersonabudget Avidbargainhunters Source Consumersurvey teamanalysis Qualityseekersandtimesavers Indifferentshoppersonabudget A B C D Bogot Santiago Overall A B 521 114 316 Percentageofprimaryshoppersbysegment mainretailers 34 SOMERETAILERS ATTRACT DISPROPORTIONATESHAREOFCERTAINSEGMENTS 3 3 Average A B C D E 495 66 203 57 68 35 Highincomebargainhunters Rangeseekersonabudget Avidbargainhunters Source Consumersurvey teamanalysis Qualityseekersandtimesavers Indifferentshoppersonabudget Mexico Percentageofprimaryshoppersbysegment mainretailers 35 McKINSEYPROPRIETARYRESEARCHIDENTIFIEDSEVENSEGMENTSINTHEU S GROCERYRETAILMARKET Shoparoundatmanydifferentstorestohuntdownthelatestspecial Wantbroadselectionandnationalbrandsforalowprice Usecoupons100 ofthetime usuallyatastoreclosetohome PurePrice Willingtopaymoreanddrivefartherforqualityandservice Wantgreatserviceandambienceatanycost Willingtopaymoretogetinandoutquicklyatastoreclosetohome Useeverymeansavailabletogetthelowestprice willnotpaymoreforanything BargainHunters SelectionforLess CouponClippers Quality SuperiorExperience Convenience Source McKinseyNorthAmericanRetailPractice 36 LATINAMERICASEGMENTSAREFAIRLYSIMILARTOTHOSEINTHEU S SelectionforLess 12 CouponClippers 10 Quality 14 SuperiorExperience 20 Convenience 22 Source Teamanalysis Range seekersonabudget 22 Qualityseekersandtimesavers 21 UnitedStates LatinAmerica Percentageoftotalspend BargainHunters 10 High incomebargainhunters 20 Avidbargainhunters 20 InLatinAmerica morepriceorientedsegments aresignificantlylargerthanintheU S noticeably BargainHunters evenaddingthe CouponClippers intheUSSegmentsbroadlysimilarinkeycharacteristics PurePrice 12 Indifferentshoppersonabudget 17 79 44 56 21 Morepriceoriented Lesspriceoriented Lesspriceoriented segmentsintheU S moredefinedandsignificantlylargershareoftotalpopulationthaninLatinAmerica S 37 KEYTAKEAWAYSFROMSTUDY LatinAmerica diversityofconsumers andnotjustinthedepthoftheirpocketsThefewkeyleversthatmatterinbuildingpriceperception andtheonethatdoesn tConsumers mostly gettingitrightintheirsearchforvalueRetailershaveanopportunitytogetitrightmoreoftenintheirsearchforabetterpriceproposition 38 MAINMESSAGES Referenceprice rangearchitectureandpromotionsarethethreemostimportantleversindeterminingconsumerpriceperceptioninLatinAmericaReferencepriceisthemostimportantlever inallconsumersegments althoughotherlevershavedisproportionateinfluencedependingonthesegment suchasrangearchitecturefor Qualityseekersandtimesavers and Indifferentshoppersonabudget inallmarketsexceptMexicoCity whererangearchitectureisslightlymoreimportantAlimitednumberofKVIsappeartoparticularlyimportantindrivingconsumers perceptionofreferencepriceFrommatchingpriceperceptionwithpricereality itisclearthatconsumersareabletoquiteaccuratelyidentifyretailerswithlowaveragepricesinmarketswherepromotionalactivityisrelativelylow PromotionsdonotdrivepriceperceptioninanymarketandinfactobscurepricerealityinSaoPauloandBuenosAires Thereareindicationshowever bothinlowandhighpromotionalmarketsthatsomeretailersareabletogetmorecreditmorevaluethanthey deserve 1 2 3 4 5 39 HOWDOCONSUMERSDEVELOPTHEIRPRICEPERCEPTION Source Teamanalysis Whatarethedifferentelementsthatcanhelpexplainpriceperception Whataretheelementsthataremostrelevanttoexplainpriceperception Arethesedifferentforthevariousmarkets Arethesedifferentforvarioussegments Howdoconsumersperceiveprices DoLatinAmericanconsumersaccuratelyperceivelowpriceretailers Aretheredifferencesinpriceperceptionaccuracywhenwelookatthedifferentregionalmarketsandsegments Whatelementsmightexplainregionaldifferencesinpriceperception Howdoespriceperceptionmatchwithpricereality 40 THEREARESEVERALPOTENTIALDRIVERSOFPRICEPERCEPTION Source Teamanalysis Referenceprice Promotions Rangearchitecture Communications In storeenvironment Drivers LowpricesonitemsboughtmostoftenLowpricesonwell knownitemsPricesareusuallylow FrequentdiscountsFrequentinterestingpromotions e g 2x1 wowdeals Lowpricedalternativesforeverydaybasics i e OPP BroadrangeofpriceandqualitylevelsPrivatelabelwithgoodprice qualityratio BelievablelowpriceadsFrequentpromotionpamphletsIn storesignsthatclearlypointtosales OverallstoreenvironmentAlotofpeopleshopping 41 PRICEPERCEPTIONINLATINAMERICAISDRIVENMAINLYBYTWOELEMENTS totalweight Source Teamanalysis Pricesareusuallylow Cheapalternativebrands Upscalestoreenvironment Frequentdiscounts Believablepriceads Pricesonwell knownitems boughtmostoften Broadrangeofquality pricelevels 42 DRIVERSOFPRICEPERCEPTIONBYMETROPOLITANREGION totalweight CausespoorerpriceperceptionSource Teamanalysis S oPaulo BuenosAires Santiago MexicoD F Bogot Referenceprice PricesareusuallylowLowpricesonitemsboughtmostoften wellknown Promotions GoodpromotionsFrequentdiscounts Rangearchitecture CheapalternativebrandsBroadrange Environment Upscalestoreenvironment Communications Believablepriceads 43 DRIVERSOFPRICEPERCEPTIONBYSEGMENT totalweight CausespoorerpriceperceptionSource Teamanalysis Avidbargainhunters Highi