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Our client is a dynamically growing European pharmaceutical company and one of the leading manufacturers of solutions for infusion. The assortment of products fully covers the requirements of stationary curative establishments in infusion therapy. Clients’ product line sums up to more than 40 preparations.
Following several attempts to enter the Chinese market in the F&B and pharmaceutical industries, the client has decided to enter the functional beverages market. The company has an extensive product portfolio of functional carbonated beverages to help patients recover from different illnesses (e.g. cold, flu, food intoxication).
In this context, the company reached out to Daxue Consulting to define a relevant market entry strategy.
To deliver the best recommendations and go-to-market entry strategy into the functional beverages market for our client, we divided our project into two steps:
Step 1: Market analysis and competitors benchmarking
Step 2: Deep-dive into consumers’ profiles and preferences
This first step aimed to acquire an in-depth understanding of China’s functional beverages market environment, key dynamics and competitive landscape. For this purpose, we collected data from government and industry reports, analysed Baidu and WeChat indexes and did online sales data scraping on key e-commerce platforms within the functional beverages category.
In addition, our team checked 20 brick-and-mortar POS, including specialized retailers and pharmacies, and carried out 8 in-depth interviews with market insiders.
After an in-depth market analysis, we moved on to step 2, where we focused on understanding the functional beverage consumers including their profile, preferences, purchasing and consumption behaviours.
We used social listening tools on key social media platforms, blogs/forums and e-commerce platforms. Then we continued with a series of interviews with selected functional beverage consumers in order to understand their decision-making process, preferences and buying journey. In addition to those methods, we organized 2 focus groups in Shanghai to collect consumers’ direct feedback on our clients’ products.
Based on our findings, we provided an actionable market entry strategy for our client, including:
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