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CONSUMER&

BRANDBrandKPIs

for

ready-made-food:Hormel

in

the

United

StatesConsumer

Insights

reportDecember2024Discover

your

Brand

KPI

scores.

Benchmark

against

competitors

and

measureyour

brand’s

marketimpactIntroduction:

studydetailsThe

reportMethodologyThisreport

hasbeen

created

usingthe

datafromStatista’sConsumer

InsightsBrand

KPIs.Thereportprovides

you

with

key

consumer

insightsandbenchmarks

forabrand’sperformance

againsttheindustryoverall

and

theircompetitors.Design:OnlineSurveyDuration:

approx.

15

minutesLanguage:official

language(s)

ofeach

country

withAmerican

Englishoffered

asanalternativeRegions:Brazil,Germany,

India,

Mexico,

U.S.

and

UKNumberofrespondents:approx.

7500Ourdataallows

you

tomeasure

each

brand’spositioninthe

market

bycreating

aprofile

usingStatista’s5key

performance

indicators.

Which

are:

awareness,popularity,consumption,loyalty,andmedia

buzz.Sample:

Internet

users,

aged18

-64,

quotasset

ongender

and

ageThisreport

is

basedon

Hormel’s

performance

intheready-made-food

market.Fieldwork:April-July

2024Ifyou

would

liketofind

out

more

abouttheConsumerInsightsatStatista

or

theBrandProfiler,

please

clickthe

linkbelow.2Notes:Forthis

report

“Usage”indicates

the

specific

“Consumption”Sources:

Statista

Consumer

Insights

Global,

asofDecember202481%

of

Hormel

consumers

display

loyalty

towards

the

brandIntroduction:

key

insightsWhodoesthebrandappeal

to?How

doesthebrandperform

inthemarket??Hormel’s

branding

resonates

more

with

Millennials?Hormel

generally

appealstomen

more

than

women?Hormel

ranksninth

inawareness

within

the

ready-made-food

market?Thepopularity

ratingof

Hormel

is38%?Among

Hormel

enthusiasts,28%

fallunderthe

high-income

category?Hormel

ranksoutsidethe

Top

10

inconsumption?Consumers

want

theirready-made-food

brandstohavehighvalue,authenticity,and

honesty

/trustworthiness?Interms

of

loyalty,Hormel

is

outsidetheTop10

inthe

United

States?Hormel

hasascore

of15%

formedia

buzz3Sources:

Statista

Consumer

Insights

Global,

asofDecember2024CHAPTER

01Brand

profileInthissection,

we

show

the

demographics

and

attitudesof

consumers

who

saytheylikethisbrandversus

the

share

ofindustryusers.

Thechapteraimsto

bringclarity

tocompanies

who

want

to

know

whotheirbrandingiscurrently

appealingtoand

what

theythinkaboutthe

industry.4Loyalty

is

the

highest

scoring

KPI

forHormel

at

81%Brand

profile:

snapshotBrand

performance

of

Hormel

inthe

UnitedStates81%74%38%31%15%AwarenessPopularityUsageLoyaltyBuzz5Notes:Ready-made-food

‘a(chǎn)wareness’,‘popularity’,

‘consumption’,

‘loyalty’

and

‘buzz’

by

brand;

Multi

pick;

Base:n=1,249,

all

respondents

(awareness),

n=927,

respondents

who

know

the

individual

brand

(popularity),

n=927,respondents

who

know

the

individual

brand

(consumption),

n=285,

respondents

who

have

consumed

the

individual

brand

(loyalty),

n=927,

respondents

who

know

the

individual

brand

(buzz)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024Hormel’s

branding

resonates

morewith

MillennialsBrand

profile:

consumer

demographics

(1/3)Measuring

attitudesand

opinions

among

generationshelpsidentifyyourtarget

audience

foryournextcampaigns.Share

ofgenerations42%Withthatinmind,when

looking

atthe

shareofconsumers

who

likeHormel

bygeneration

versus

theshareof

industryusers

ingeneral,

we

cansee

thatHormel

islikedby15%

of

Baby

boomers

and34%

ofGen

Xers,

whereas

thetotalshare

ofindustryusers

is11%

and

28%,

respectively.36%34%28%25%ForMillennials

andGen

Z,

42%

and

9%

feel

positivelytowards

Hormel,

versus36%

and25%.

Socurrently,forHormel,

Millennials

connect

most

with

theirbrandcompared

to

theoverall

industryuser.15%11%9%Gen

ZMillennialsGen

XBaby

BoomerBrand

enthusiastIndustryuser6Notes:“How

oldareyou?”;Single

Pick;“When

it

comestoready-made-food,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;Base:n=348,

Hormelenthusiast,

n=1,143,

ready-made-food

consumersSources:

Statista

Consumer

Insights

Global,

asofDecember2024Hormel

generally

appeals

to

men

more

than

womenBrand

profile:

consumer

demographics

(2/3)GenderTheGender

splitbetween

brandenthusiastsof

Hormel

shows

thatwomen

are

lesslikely

to

haveanaffinitywith

the

brandcompared

to

men.LGBTQIA+statusUnderstanding

and

respecting

thediverse

needsandidentitiesof9%11%87%consumers

is

becoming

more

and

moreimportant,notjustfrom

asensitivitypointof

view,

but

also

fromrecognizingpotential

businessopportunities

thatcome

withinclusivity

and

diversity.

Andcurrently,

Hormel

hasalowerproportion

of

LGBTQIA+

consumerswhen

compared

tothe

industryusers

ingeneral.47%53%53%

ofmen

likeHormel

compared

to47%

ofwomen,

whereas

fortheoverallindustry,50%

of

women

consume

ready-made-food

compared

to

50%

of

men.50%50%91%9%

of

Hormel

enthusiastsconsiderthemselves

to

bepartof

the

LGBTQIA+community

compared

to11%

amongindustryusers

overall.Brand

enthusiastFemaleIndustryuserMaleBrand

enthusiastIndustryuserNot

givenYesNo7Notes:“What

is

yourgender?”;Single

Pick;“Doyouconsider

yourself

partofthe

LGBTQ+community?”;

Single

Pick;

“When

it

comes

to

ready-made-food,

which

ofthe

following

brands

do

you

like?”;Multi

Pick;Base:

n=348,

Hormelenthusiast,

n=1,143,

ready-made-food

consumersSources:

Statista

Consumer

Insights

Global,

asofDecember2024Among

Hormel

enthusiasts,

28%

fall

under

the

high-income

categoryBrand

profile:

consumer

demographics

(3/3)HouseholdincomeThegraphillustratestheannualhousehold

income

distribution

amongenthusiastsof

thebrand

andconsumerswithin

the

industry.HouseholdtypeThechartshows

thehousehold

type,takinginto

account

factorssuchashousehold

size,

familystructure,

andthe

number

ofchildren.25%24%Single28%31%37%32%16%18%CoupleSingleparentNuclear28%

ofHormel

enthusiastsare

fromhigh-income

households.Hormel’s

brandisgenerally

enjoyedmore

byconsumers

who

arepartof

anuclearhousehold,

22%

of

Hormelenthusiastshavethiscurrent

livingsituation.12%11%40%22%16%Multi-generational5%4%14%19%31%ExtendedOther7%7%Brand

enthusiastIndustryuserLowHighMediumBrand

enthusiastIndustryuser8Notes:Recode

based

on’’Monthly/annual

household

income

(local

currency)’’;Single

Pick;Typology

basedon

’’household

size’’,

’’household

constellation’’

and

’’children

under

the

ageof14

in

household’’;

Single

Pick;“When

it

comesto

ready-made-food,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;Base:

n=348,

Hormelenthusiast,

n=1,143,

ready-made-food

consumersSources:

Statista

Consumer

Insights

Global,

asofDecember2024Consumers

want

their

ready-made-food

brands

to

have

high

value,authenticity,and

honesty

/

trustworthinessBrand

profile:

qualitiesQualitiesconsumerswant

from

ready-made-food

brandsForready-made-food,

the

top

threequalitiesconsumers

wantfrom

abrandarehighvalue,authenticity,andhonesty/trustworthiness.Authenticity60%Thrill/ExcitementSustainabilityBoldnessCleverness40%20%0%Hormel

consumers

alsoappreciatethese

key

attributes,indicatingHormelexudes

thesequalities.SocialresponsibilityCoolnessThequalitiesthatHormel

enthusiastsareleast

focused

on

arethrill/excitement

andinclusiveness.ReliabilityExclusivityHormel

should

work

on

promotinghonesty

/trustworthiness

toconvertenthusiastsintoowners.InnovationInclusivenessFriendlinessHighvalueHonesty/trustworthinessIndustryuserBrandenthusiastBrandowner9Notes:“When

it

comesto

ready-made-food,

which

ofthese

aspects

are

mostimportant

to

you?”;Multi

Pick;“When

it

comesto

ready-made-food,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;“When

it

comesto

ready-made-food,

which

ofthe

following

brands

have

youconsumed

in

the

past

12

months?”;

Multi

Pick;Base:n=285,

Hormelconsumers’,

n=348,

Hormelenthusiast,

n=1,143,

ready-made-food

consumersSources:

Statista

Consumer

Insights

Global,

asofDecember2024Among

Hormel

fans,

34%

state

that

they

get

excited

about

ready-made-foodproductsBrand

profile:

attitudesWhat

doconsumersthink

ofready-made-food

ingeneral?49%43%34%32%30%28%28%25%24%22%22%17%Sustainability

is

Ivaluealow

priceimportant

to

me

over

highqualityIamwellinformedIrely

onbrands

Iget

excited

about

IliketotalkaboutIknow

and

trust

ready-made-food

topicsrelating

toproductsready-made-foodBrand

enthusiastIndustryuser10

Notes:“Which

ofthese

statements

about

ready-made-food

do

youagree

with?”;

Multi

Pick;“When

it

comesto

ready-made-food,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;Base:n=348,

Hormelenthusiast,

n=1,143,ready-made-food

consumersSources:

Statista

Consumer

Insights

Global,

asofDecember2024CHAPTER

02Brand

KPIs

&

benchmarkingInthischapter,youcansee

howabrandperforms

againsttheirmaincompetitors

inthe

marketplace.Thissection

allows

benchmarking

ofthekey

performance

indicatorsfrom

the

brandprofile

againsttheindustryasawhole

andotherindustryleaders.1181%

of

Hormel

consumers

display

loyalty

towards

the

brandBrand

KPIs

&benchmarking:

IndustrycomparisonBrand

performanceWhen

itcomes

to

ready-made-food,

the

averageawareness

ofabrandinthe

United

Statesis62%.Awareness

ofHormel,

however,

isat74%.Awareness38%

ofU.S.

ready-made-food

consumers

say

theylikeHormel,

compared

to

anindustryaverage

brandpopularity

of40%.31%

ofindustryconsumers

intheUnited

Statessaythey

consume

Hormel,

with

theaverage

consumptionof

abrand

at34%.BuzzPopularity81%

ofbrandconsumers

say

theywould

consume

thebrandagain,compared

toanaverage

loyalty

score

of81%.Hormel

hasbeen

noticed

less

inthemedia

comparedtootherbrands,with

a“Buzz”

score

of

15%

comparedto20%.LoyaltyBrandUsageIndustryaverageSooverall,

the

results

showtheir

performance

tobeinconsistent

compared

to

theindustry.12

Notes:Ready-made-food

‘a(chǎn)wareness’,‘popularity’,

‘consumption’,

‘loyalty’

and

‘buzz’

by

brand;

Multi

pick;

Base:n=1,249,

all

respondents

(awareness),

n=927,

respondents

who

know

the

individual

brand

(popularity),

n=927,respondents

who

know

the

individual

brand

(consumption),

n=285,

respondents

who

have

consumed

the

individual

brand

(loyalty),

n=927,

respondents

who

know

the

individual

brand

(buzz)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024Hormel

ranks

ninth

in

awareness

within

the

ready-made-food

marketBrand

KPIs

&benchmarking:

awarenessSummaryAwarenessofHormelRank#

BrandAwareness

%Driving

recognition

will

lead

to

growing

yourcustomerbaseand

measuring

brandawareness

isakeycomponent

toachieve

this.Withthisscore,

you

cangaugethe

current

market

presence

ofabrand,understandthebrand’svisibility,competitiveness,

andrecognition

among

theirtarget

audience.

Further

tothis,itisaperfect

way

toassess

yourcurrentmarketing

strategies.1Kraft90%87%85%84%83%79%75%75%74%73%2Campbell'sPanera

BreadChef

BoyardeeStouffer's26%345Usingtheconcept

of

aided

brand

recognition,

showingrespondents

both

the

brand’slogo

andthe

writtenbrandname,we

asked:

“Doyou

know

thisbrand,

evenifonly

byname?”.6Banquet7Lean

CuisineHealthy

ChoiceHormel74%8Outofallrespondents,

74%

were

aware

of

Hormel.Thisranksthemninth

compared

toother

brandssurveyed

inthismarket.9AwarenessN/A10Marie

Callender's13

Notes:“Doyouknow

this

brand,

evenif

only

by

name?”;Multi

Pick;

Base:

n=1,249,

all

respondents

(awareness)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024The

popularity

rating

of

Hormel

is

38%Brand

KPIs

&benchmarking:

popularitySummaryPopularity

ofHormelRank#

BrandPopularity%ThepopularityKPIisagreat

indicatorof

brandperception

among

current

andpotentialfuturecustomers.

Thesocial

proof

provided

byahigh

scorecansignifyhow

trustworthy

abrandisandinfluenceconsumer

engagement.

Brandswith

alarge

engagedfollowing

canoften

enjoy

higherlevels

of

advocacyandloyalty.1Campbell'sKraft58%53%50%50%49%49%48%43%42%39%23Stouffer's38%4BanquetOutofconsumers

who

knew

thebrand,

38%

saidtheyliked

Hormel.

ThisranksthemoutsidetheTop10compared

to

other

brandssurveyed

inthismarket.5Marie

Callender'sChef

BoyardeeBird′sEyeMaruchanKnorr662%789PopularityN/A10Healthy

Choice14

Notes:“When

it

comesto

ready-made-food,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;Base:n=927,

respondents

who

know

the

individual

brand

(popularity)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024Hormel

ranks

outside

the

Top

10

in

consumptionBrand

KPIs

&benchmarking:

consumptionSummaryConsumption

ofHormelRank#

BrandUsage

%51%Afterpopularity,we

want

tocover

thevalueactiongapsotounderstandifthe

brandwas

alsobeingconsumed,

we

asked

each

respondent:

“Whenitcomes

to

ready-made-food,

which

ofthefollowingbrandshaveyou

consumed

inthe

past12

months?”.1Campbell'sKraft246%31%3Banquet45%Outofconsumers

who

knew

thebrand,

31%

saidtheyconsumed

Hormel.

ThisranksthemoutsidetheTop10

compared

toother

brandssurveyed

inthismarket.4MaruchanStouffer's43%542%6Chef

BoyardeeMarie

Callender'sBird′sEyeKnorr41%740%69%838%936%UsageN/A10Healthy

Choice32%15

Notes:“When

it

comesto

ready-made-food,

which

ofthe

following

brands

have

youconsumed

in

the

past12

months?”;

Multi

Pick;Base:

n=927,

respondents

who

know

the

individual

brandSources:

Statista

Consumer

Insights

Global,

asofDecember2024In

terms

of

loyalty,

Hormel

is

outside

the

Top

10

in

the

United

StatesBrand

KPIs

&benchmarking:

loyaltySummaryLoyalty

ofHormel’s

consumersRank#

BrandLoyalty

%89%Afterascertaining

the

consumption

ofabrandinthelast12

months,the

next

most

important

indicatorisbrandloyalty.

Thisscore

allows

ustoestablishwhether

abrandisperforming

well

inregard

tocustomer

retention.

Measuring

brandloyaltyestablishes

aclear

feedback

loop

with

customers,providing

valuableinsightsinto

customer

satisfactionandpreferences.

Itis

alsoapowerful

predictor

tohelpguidemarketing

strategies

and

forecast

futuresalesandrevenue

more

accurately.1Stouffer's19%2Amy′sKitchenKraft88%386%4Chef

BoyardeeMaruchan86%586%6Banquet85%Tomeasure

the

loyalty

of

theseconsumers

we

askeach

respondent:

“When

itcomes

to

ready-made-food,which

of

the

following

brandsareyou

likely

toconsume

againinthefuture?”.7Campbell'sPanera

BreadMarie

Callender'sBird′sEye85%884%81%983%Outofrespondents

whohaveconsumed

Hormel,

81%saidthey

would

consume

the

brandagain.LoyaltyN/A1083%16

Notes:“When

it

comesto

ready-made-food,

which

ofthe

following

brands

are

youlikely

to

consume

againin

the

future?”;

Multi

Pick;Base:n=285,

respondents

who

have

consumed

the

individual

brand

(loyalty)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024Hormel

has

a

score

of

15%

for

media

buzzBrand

KPIs

&benchmarking:

buzzSummaryBuzzofHormelRank#

BrandBuzz%34%Isthebrand

hot

or

not?Isitcausingastirinthemediaandonline,tofind

thisoutwe

asked

each

respondent:“Whichof

the

following

brandshaveyounoticed

inthemedia,on

social

media,or

inadvertising

inthepast3months?”.1Campbell'sKraft15%229%3ChefBoyardeeAnnieChunPanera

BreadBanquet28%Outofconsumers

who

knew

thebrand,

15%

saidtheyhadheardaboutHormel

inthe

media.

This

ranksthemoutsidetheTop10

compared

to

other

brandssurveyed

inthismarket.426%526%625%7Bird′sEyeAmy′sKitchenDevour24%823%85%923%BuzzN/A10Healthy

Choice21%17

Notes:“Which

ofthe

following

brands

have

younoticed

in

the

media,

onsocial

media,

orin

advertising

in

the

past3months?”;

Multi

Pick;

Base:

n=927,

respondents

who

know

the

individual

brand

(Buzz)Sources:

Statista

Consumer

Insights

Global,

asofDecember2024STATISTACONSUMER

INSIGHTSUnderstand

what

drivesconsumersGainabetterunderstandingofconsumers,brands,andmarkets.Withthe

Statista

Consumer

Insights,

youget

access

tostreamlinedmarketresearchtoolsandallresultsofthe

exclusiveStatista

surveys.

Leverage

consumerinsightstomakedata-drivendecisions

andunlocknewgrowth

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