Harvard Case - Using Data Visualisation to Find F&B Opportunities during a Pandemic
"Using Data Visualisation to Find F&B Opportunities during a Pandemic" Harvard business case study is written by Marcus Ang, Yongchang Chen. It deals with the challenges in the field of Information Technology. The case study is 12 page(s) long and it was first published on : Jan 21, 2024
At Fern Fort University, we recommend a digital transformation strategy for the F&B industry, leveraging data visualization and analytics to identify and capitalize on emerging opportunities during and post-pandemic. This strategy involves a multi-pronged approach encompassing business model innovation, customer relationship management (CRM), supply chain optimization, and marketing initiatives, all supported by robust IT infrastructure and data management capabilities.
2. Background
The case study focuses on the challenges faced by the F&B industry during the COVID-19 pandemic. With lockdowns and social distancing measures in place, restaurants and cafes experienced significant revenue losses. The case highlights the story of 'The Daily Grind,' a small coffee shop struggling to adapt to the changing landscape. The owner, Sarah, recognizes the need for a data-driven approach to understand customer behavior and identify new opportunities.
3. Analysis of the Case Study
The case study presents a classic example of a business needing to adapt to a rapidly evolving environment. Using a SWOT analysis framework, we can identify the following key factors:
Strengths:
- Strong brand reputation and loyal customer base.
- Experienced and passionate staff.
- Focus on quality ingredients and unique offerings.
Weaknesses:
- Limited online presence and digital marketing capabilities.
- Reliance on in-store sales with limited delivery options.
- Lack of data-driven insights into customer preferences and behavior.
Opportunities:
- Growing demand for online food ordering and delivery services.
- Increased focus on health and safety measures.
- Potential for new product offerings and partnerships.
Threats:
- Economic uncertainty and reduced consumer spending.
- Increased competition from established players and new entrants.
- Potential for further disruptions and lockdowns.
Furthermore, we can analyze the case using Porter's Five Forces framework:
- Threat of new entrants: High, as the barrier to entry in the F&B industry is relatively low.
- Bargaining power of buyers: High, as consumers have numerous options and can easily switch between providers.
- Bargaining power of suppliers: Moderate, depending on the specific ingredients and supplies needed.
- Threat of substitute products: High, as consumers can choose from a wide range of alternative food and beverage options.
- Competitive rivalry: High, with intense competition among established players and new entrants.
4. Recommendations
1. Data-Driven Insights and Customer Segmentation:
- Implement a robust CRM system to collect and analyze customer data, including purchase history, preferences, and feedback.
- Utilize data visualization tools to create dashboards and reports that provide actionable insights into customer behavior and trends.
- Segment customers based on their preferences and needs to develop targeted marketing campaigns and personalized offerings.
2. Enhanced Online Presence and Delivery Services:
- Develop a user-friendly website and mobile app for online ordering and delivery.
- Partner with established delivery platforms to expand reach and convenience for customers.
- Offer loyalty programs and discounts to incentivize repeat purchases and customer engagement.
3. Innovation and Product Development:
- Introduce new product lines and offerings that cater to evolving consumer preferences, such as healthy and sustainable options.
- Explore partnerships with local businesses and suppliers to offer unique and exclusive products.
- Leverage social media platforms to engage with customers and gather feedback on new product ideas.
4. Marketing and Brand Building:
- Develop a comprehensive digital marketing strategy that leverages social media, search engine optimization (SEO), and online advertising.
- Utilize content marketing to share engaging stories, recipes, and behind-the-scenes content.
- Partner with influencers and bloggers to promote the brand and reach a wider audience.
5. Operational Efficiency and Cost Optimization:
- Implement technology solutions to streamline operations, such as inventory management systems and point-of-sale (POS) systems.
- Optimize supply chain processes to reduce waste and minimize costs.
- Explore outsourcing options for non-core functions, such as accounting and customer support.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with The Daily Grind's focus on quality, customer satisfaction, and innovation.
- External customers and internal clients: The recommendations address the needs of both existing and potential customers, while also supporting the staff and management team.
- Competitors: The recommendations aim to differentiate The Daily Grind from competitors by leveraging technology and data-driven insights.
- Attractiveness: The recommendations are expected to generate positive returns on investment (ROI) through increased sales, improved efficiency, and enhanced customer loyalty.
6. Conclusion
By embracing digital transformation and leveraging data visualization and analytics, The Daily Grind can navigate the challenges of the post-pandemic landscape and emerge as a stronger and more resilient business. The recommended strategies will enable the company to better understand its customers, optimize operations, and capitalize on new opportunities for growth.
7. Discussion
Alternatives:
- Traditional marketing approach: Relying solely on traditional marketing channels like print advertising and flyers might not be effective in reaching the target audience.
- Ignoring technology: Failing to adapt to the increasing demand for online ordering and delivery services could lead to lost revenue and market share.
Risks:
- Data security breaches: Implementing robust cybersecurity measures is crucial to protect customer data and maintain trust.
- Technology adoption challenges: The successful implementation of technology solutions requires proper planning, training, and support.
- Competition: The F&B industry is highly competitive, and The Daily Grind needs to continuously innovate and adapt to stay ahead.
Key Assumptions:
- The recommendations assume that The Daily Grind has the resources and commitment to invest in technology and data-driven initiatives.
- The recommendations assume that the F&B industry will continue to experience growth in online ordering and delivery services.
8. Next Steps
- Phase 1 (Short-term): Implement a CRM system and develop a basic website for online ordering.
- Phase 2 (Medium-term): Partner with delivery platforms and launch a mobile app.
- Phase 3 (Long-term): Develop a comprehensive digital marketing strategy and explore new product offerings.
By following these steps, The Daily Grind can successfully navigate the challenges of the post-pandemic world and emerge as a leader in the F&B industry.
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Case Description
This case is set in late 2021, when the food and beverage (F&B) industry globally had been significantly impacted by the COVID-19 pandemic. Tim Ang was an analyst at Singapore Management University's Institute of Service Excellence (ISE), which had been established to help raise the performance of the service sector in Singapore. Since its inception in 2008, ISE had conducted an annual study measuring the Customer Satisfaction Index of Singapore (CSISG). The CSISG covered more than 20 sub-sectors and measured over 100 companies from finance, insurance, info-communications, transportation, retail, F&B, healthcare, education, tourism, hotels, and more. Data for the customer satisfaction study for the F&B sector was typically collected in the third quarter of every year, and results were released to both the media and industry. The 2021 study revealed that while customer satisfaction and loyalty levels had remained generally unchanged for most of the F&B sector, Cafés and Coffee Houses saw a significant decline in both metrics. Yet despite the challenges, Ang believed there were significant service gaps and opportunities which could be leveraged. A detailed analysis of underperforming areas and customer preferences should provide F&B entrepreneurs with insights on potential opportunities to address industry pain points and capture market share.
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