The Ultimate Snack: Applying Product Feedback to our Favorite Treats
Product feedback is a crucial aspect of almost any company. From learning more about how customers view the brand, like the product, or even just understand the advertising. Product feedback allows for companies to recognize how they deliver in the minds of their consumers. Product feedback is more than just a tool to affirm what is being done well, it also helps businesses measure their success against that of leading competitors, with direct reference to what customers want the company to improve.
Who are the Consumers?
In order to gather some product feedback about one popular food brand, we conducted a study featuring 275 participants throughout the United States. Although a variety of participants responded to our study, these participants were predominately (40%) between the age of 18 and 29. Most (58%) respondents were female, and just over a majority also reported an annual household income of $49,000 or less (54%), which indicates a diversity of consumers.
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Which of these products is most appealing to you?[/caption]
Our study indicates that a variety of brands currently succeed at making different snacks categories in the eyes of consumers. Kellogg’s owns the cracker category, Frito Lay owns the chips category and General Mills owns the breakfast bar category in the eyes of the consumer. This indicates what each company is doing well, in addition to what customers think of their competitors.
A Tasty Snack
Our participants were all familiar with the brand in question, with 63% giving the brand a “very favorable” review. When choosing a snack, 94% of participants said “tastiness” was an important element, as well as the product’s “quality” (90%, affordability (87%), familiarity (82%), and variety (82%). Participants reported looking for specific attributes within the snack as well, and many described wanting snacks that would be “crunchy” (77%), “satisfying” (76%), “sweet and filling” (65%), or “bite size” (63%).
Males were more likely to want familiar snacks that contained nuts, while females wanted snacks that would be easy and delicious. In addition, baby boomers were more likely to report wanting a cheesy snack, while millennials cared more about snacks that would satisfy cravings at a discount. Everyone among these customer segments look for quality taste and flavor when choosing a specific packaged snack (See bubbles A, B).
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Intellisegment™. What do you look for in a packaged snack?[/caption]
Product Feedback is for You
Just as snacks give a little boost between meals, product feedback can give your company a boost in development. With the right formula, you can learn how to satisfy your consumers, giving them what they want and ultimately boosting your sales. Now, there’s something to drool over.
Do you want to know more, or create a product feedback study of your own? Contact us to learn more.