Upload
elizabeth-wessing
View
550
Download
2
Tags:
Embed Size (px)
DESCRIPTION
Citation preview
Whiskey Market Research
Marketing Research ReportPresented by:
October 5, 2013
INTRODUCTION A brief overview
of Wigle Whiskey and the objectives of this
research.
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
As a budding start-up whiskey distillery located in the Strip District of Pittsburgh, Pa, MeK research understands that you have reached a critical point in the growth of your company. Business is booming in the area surrounding your flagship store and you are looking to open sales in two new territories (Philadelphia, Pa and Washington, D.C.). With a goal of selling 7 cases/month to these new markets by this time next year you have asked us to help answer some very critical questions:
Does a market exist in the Philadelphia and D.C. areas?
Who should Wigle be targeting in these markets?
How should Wigle get the word out?
Executive Summary
METHODSDetail regarding the research and data collection
methods used in this proposal.
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
Qualitative and qualitative research techniques were used to conduct exploratory research on the D.C. and Philadelphia markets. The following types of data were collected to help make an informed decision before moving into either market:
I. Secondary Data - demographics, psychographics, values and lifestyles of people in the Philadelphia and D.C. areas
VALS Type Profiles Industry Articles U.S. Census
II. Primary Data - a self administered online survey via polldaddy.com designed to gauge people’s awareness of the whiskey market and determine how best to reach them
Research Methods
RESULTSFindings from our qualitative
and quantitative research efforts.
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
VALS™ segments U.S. adults into eight distinct types, or mindsets, using a specific set of psychological traits and key demographics that drive consumer behavior. Below are two of the eight types of consumers that fit Wigle Whiskey’s buyer profile.
Innovators High income and high resource, independent, educated
individuals. Change leaders, receptive to new ideas and technologies. Active consumers, with cultivated tastes for upscale, niche
products and services.
Experiencers Young, enthusiastic, and impulsive consumers motivated by self-
expression. Seek a variety and excitement, savoring the new, the offbeat,
and the risky. High proportion of income spent on fashion, entertainment, and
social activities.
Target Consumers - VALS
Target Demographics - VALS
Secondary research on whiskey drinkers revealed that women whiskey drinkers are on the rise:
“When I hosted tastings back then, there might be two women out of 100 people. Now it’s more like 60 men, 40
women.” - Heather Greene, a whiskey specialist and ambassador for Glenfiddich
Survey results returned similar findings with 67% respondents considering whiskey to be a mans drink and 33% considering it a drink that both men and women can enjoy.
Women and Whiskey
Secondary research indicates that both Philadelphia and D.C. have ample consumers over the age of 25 in the area and additionally both areas show a slightly
higher female population.
Philadelphia & D.C. Market
POPULATION
The D.C. population is comprised of high income individuals with an average household income just
over $100,000 dollars a year.
High earning individuals are more likely to fit the Wigle customer profile.
Philadelphia & D.C. MarketAV
ER
AG
E
INC
OM
E
Philadelphia & D.C. MarketED
UC
ATIO
N
Over 50% of people 25 and older in D.C. have a bachelor’s degree or higher. Where as only
24% of people 25 and older in Philadelphia have a bachelor's degree or higher.
SU
RV
EY
RESU
LTS
Polldaddy.com Results
Survey Respondents Breakdown
Typical Respondent: Female Over 45
SU
RV
EY
RESU
LTS
Polldaddy.com Results
Do people perceive whiskey as a "mans" drink?
Polldaddy.com Results
SURVEY RESULTS
People are interested in trying it…
but don’t know where to find it?
SU
RV
EY
RESU
LTS
Polldaddy.com Results
Survey results show that people are more likely to drink whiskey at a bar or at a social even then at home or in a
hotel setting.
SU
RV
EY
RESU
LTS
Polldaddy.com Results
71 of the 80 respondents have never purchased alcohol online
LIMITATIONSLimiting factors that influenced the marketing
research conducted .
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
Small Sample Size – due to limited availability to reach not only our target market but also our inability to reach a statistically relevant portion of the population our assumptions regarding the whiskey market may not accurately reflect the population
Limited Resources –more secondary research is available via syndicated data websites which are only accessible for a fee
Client Information – because of the restraints of the project we were not able to delve into the nature of Wigle’s current Pittsburgh market to make a true comparison to Philadelphia and D.C. and better identify customer segments
Research Limitations
CONCLUSIONSummary of
findings including
suggested actions.
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
Place
Price
PromoProduct
Wigle Whiskey Mix
Bars/restaurants:
These fine establishments in Philadelphia feature Wigle in their bars and/or on their cocktail lists:Hop Sing Laundromat, Trestle Inn, Eulogy, The Twisted Tail, Bob & Barbara’s, Sassafras, Johnny Brenda’s, Cooperage Wine & Whiskey Bar, Khyber Pass Pub, Time, Village Whiskey, Stateside
These fine establishments in Washington D.C. feature Wigle in their bars and/or on their cocktail lists:Penn Social, Nanny O’briens, Stan’s Restaurant, Smoke & Barrel, Chez Billy, Old Ebbitt Grill, Brixton, Looking Glass Lounge, Wonderland Ballroom, The Hamilton, American Ice Company, Smith Commons, Marvin
Recommendations
RESOURCESThe purpose of
this introduction is to outline what Wigle
whiskey is and introduce the
marketing research
conducted on their behalf.
I. Introduction/ObjectivesII. MethodsIII. ResultsIV. LimitationsV. Conclusions/
RecommendationsVI. Resources
http://www.nightclub.com/bar-management/american-women-american-whiskey
http://vegasmagazine.com/dining/articles/whiskey-women-drinks
http://cla.calpoly.edu/legacies/rsimon/rsimonsite/Hum410/VALS%20Advertising%20Theory.htm
http://www.strategicbusinessinsights.com/vals/
http://www.complex.com/city-guide/2013/08/the-25-best-bars-in-dc-right-now/
http://www.theguardian.com/travel/2013/sep/21/top-10-bars-pubs-philadelphia
http://mptrunzo.polldaddy.com/s/wigle-whiskey
http:// www.census.gov/
http://www.census.gov/acs
References
“There is no bad whiskey. There are only some whiskeys that aren't as good as others.” -
Raymond Chandler