It’s here: the next generation of Brizo FoodMetrics is waiting for you. Learn more.
It’s here: the next generation of Brizo FoodMetrics is waiting for you. Learn more.
Many foodservice businesses in the supply chain rely on gut instinct or outdated data to make critical decisions about sourcing, pricing, and market trends. Without the right market intelligence, these businesses often miss opportunities or face unexpected challenges.
In this article, we’ll explain how leveraging market intelligence can drive strategic decision-making, helping suppliers and vendors stay ahead of the competition, anticipate demand, and maximize growth potential.
A market intelligence tool is a data-driven platform that helps businesses make informed decisions by analyzing market trends, customer behavior, and competitor activities. It goes beyond guesswork, providing actionable insights to optimize sales, pricing, and product development strategies.
Think of it as your industry’s GPS. Just as a GPS helps you navigate the best routes, a market intelligence tool guides your business decisions by offering clear, data-backed directions.
A market intelligence tool can tell you about:
For example, Brizo FoodMetrics is a market intelligence tool providing actionable insights through detailed menu specifics and tech stack usage data. This enables foodservice suppliers and vendors to enhance their prospecting efforts and perform deeper market analysis.
Brizo FoodMetrics provides a variety of business insights for foodservice businesses.
Market intelligence tools provide vital data that can be used to understand competitors, refine product offerings, improve sales strategies, and more. Below are some key types of market intelligence tools:
By offering data-driven insights, market intelligence tools help businesses make smarter, more strategic choices that align with market trends, customer preferences, and competitive dynamics.
A restaurant database could reveal that a particular region is seeing a surge in new restaurant openings. This information allows you to focus your marketing efforts on that region, tailoring your product pitches to meet the needs of these new establishments.
You can adjust your sales strategy to highlight the specific tech solutions that help new restaurants optimize operations, knowing that early-stage businesses will likely need robust support to get up and running.
By aligning your offering with the needs of new restaurants, you position yourself as a crucial partner in their growth.
Knowing the average price point for similar products can help you position your products in a competitive market. With Brizo FoodMetrics, you can analyze different food establishments’ pricing and identify gaps where you can offer better value.
This enables you to set prices for your ingredients that attract operators while ensuring profitability. If your target market is restaurants that focus on cost-effective solutions, positioning your products just below the market average can give you an edge in winning more deals.
Market research might reveal that more restaurants are selling low-sugar, high-protein snacks. With this data, you can confidently develop and market a product that fits the current trend, increasing your chances of success.
Instead of relying on guesswork, market intelligence gives you a clear direction on where the demand is headed, allowing you to tailor your product offerings to meet what operators are actively seeking.
By using market intelligence, your company can analyze the demand for plant-based options nationwide, particularly in quick-service venues with a median meal price point of $1-$15.
Brizo dashboard showing food establishments that offer plant-based options.
With valuable insights into which regions are more likely to embrace vegan options, the company can strategically plan its product launch in high-demand areas.
Additionally, competitor analysis could provide details on how similar products are priced, allowing the company to set a competitive yet profitable price. This ensures that the company’s product resonates with both quick-service venues and their cost-conscious customers.
Decision-making without the correct data can leave businesses vulnerable to missed opportunities and unexpected challenges. Market intelligence tools like Brizo FoodMetrics provide the insights needed to make informed decisions, whether you’re adjusting pricing, developing new products, or identifying new market opportunities.
Learn more about how Brizo FoodMetrics can provide the market intelligence you need to make smarter, more strategic decisions. Start making better decisions today—contact us for a demo!
