Product Range and Menu Analysis
Using category management principles, and by truly understanding what your customers want, we will identify where there are product and menu opportunities which will help to give you a competitive lead. We will then assess the likely financial viability of these opportunities.
Range and Menu Analysis via Menurama
Working with your marketing team, your menu and product developers and your sales and operational staff we will implement thorough analysis of range and menus (from our Menurama service).
We will do this by mapping your existing range against competitors, with an understanding of what is driving your customers to make the choices they do. We will review your product descriptions, size, make up, accompaniments and packaging as appropriate.
As a result of this in-depth process, product and menu opportunities will be identified. These could be product enhancements (e.g. reducing sugar levels), new product development (e.g. a new flavour addition) or the deletion of slow selling items.
“I used Market Modeller as part of our strategic planning process. What I was looking for was help that was helpful, informative and, above all, efficient. And that’s what I got!” Richard Majewski, Deputy MD, Headland Foods
Identifying the Financial Opportunity via Market Modeller
Assessing the size of the market is a critical stage in identifying the viability of a new product or menu opportunity and Market Modeller is a means of doing this.
Working together using Horizons detailed knowledge of the foodservice market and your own detailed knowledge of the product category we will input data into a model. This is then validated before arriving at a market size, broken down by sub-sector as relevant.
This unique process produces relevant and helpful information about the size of the market for any specific product whether it is food, cleaning materials, equipment, utensils or any of the wide range of products used by operators. There are 3 essential steps:
- Step 1: We extract relevant data from our Market Structure and Trends service and create a model of the market based on first level assumptions
- Step 2: We, and you, retrieve as much information as possible about the size of the relevant market, from our own sources
- Step 3: The information derived from both of these steps is discussed, evaluated and debated at a hands-on meeting facilitated by Horizons. During this meeting, we will question the first level assumptions. This will allow us to modify the model of the market to reflect any additional reality.
At the end of the process, you will have a clear statement of the size of the market, analysed by sector if relevant.
Download a summary of the Market Modeller service.
To discuss your requirements for range and menu analysis and for identifying the financial opportunity, please fill in your details below or contact Horizons on +44 (0)844 800 0456 or firstname.lastname@example.org