Wigle Whiskey Market Research - MeK
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Wigle Whiskey Market Research - MeK
- 1. Whiskey Market Research Marketing Research Report Presented by: October 5, 2013
- 2. INTRODUCTION A brief overview of Wigle Whiskey and the objectives of this research. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 3. 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 andWashington, 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 shouldWigle be targeting in these markets? How shouldWigle get the word out? Executive Summary
- 4. METHODS Detail regarding the research and data collection methods used in this proposal. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 5. 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 VALSType 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
- 6. RESULTS Findings from our qualitative and quantitative research efforts. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 7. 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 fitWigleWhiskey’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
- 9. 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 andWhiskey
- 10. 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. MarketPOPULATION
- 11. 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. MarketAVERAGEINCOME
- 12. Philadelphia & D.C. MarketEDUCATION 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.
- 13. SURVEYRESULTS Polldaddy.com Results Survey Respondents Breakdown Typical Respondent: Female Over 45
- 14. SURVEYRESULTS Polldaddy.com Results Do people perceive whiskey as a "mans" drink?
- 15. Polldaddy.com ResultsSURVEYRESULTS People are interested in trying it… but don’t know where to find it?
- 16. SURVEYRESULTS 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.
- 17. SURVEYRESULTS Polldaddy.com Results 71 of the 80 respondents have never purchased alcohol online
- 18. LIMITATIONS Limiting factors that influenced the marketing research conducted . I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 19. 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
- 20. CONCLUSION Summary of findings including suggested actions. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 22. Bars/restaurants: These fine establishments in Philadelphia feature Wigle in their bars and/or on their cocktail lists: Hop Sing Laundromat,Trestle Inn, Eulogy,TheTwistedTail, Bob & Barbara’s, Sassafras, Johnny Brenda’s, CooperageWine &Whiskey Bar, Khyber Pass Pub,Time,VillageWhiskey, Stateside These fine establishments in Washington D.C. featureWigle 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
- 23. RESOURCES The purpose of this introduction is to outline whatWigle whiskey is and introduce the marketing research conducted on their behalf. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
- 25. “There is no bad whiskey.There are only some whiskeys that aren't as good as others.” - Raymond Chandler
Hinweis der Redaktion
- In order for Wigle Whiskey to make an informed decision regarding a strategic move MeK usedqualitative 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:Secondary Data - demographics, psychographics, values and lifestyles of people in the Philadelphia and D.C. areas VALS Type ProfilesIndustry ArticlesU.S. CensusPrimary 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
- InnovatorsInnovators are characterized by High income and high resource individuals for whom independence is very important. They have their own individual taste in things and are motivated in achieving the finer things in life. Innovators are change leaders and are rs the most receptive to new ideas and technologies. Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale, niche products and services.ExperiencersExperiencers are motivated by self-expression, they are young, enthusiastic, and impulsive consumers. They seek variety and excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities.Experiencers are avid consumers and spend a comparatively high proportion of their income on fashion, entertainment, and socializing.
- 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 who as we have previously discussed are a rising force in the whiskey market based on several articles.
- Secondary research indicates that the D.C. population is comprised of high income individuals with an average household income just over $100,000 dollars a year. In our research regarding values and lifestyles it was identified that high earning individuals are more likely to fit the Wigle customer profile.
- Secondary research indicates that 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. Form this data set there seems to be a statistical correlation between income and education.
- 31 Ppl – 45 or Older7 Ppl – 40 to 442 Ppl – 35 to 3911 Ppl – 30 to 3424 Ppl - 25 to 295 Ppl – 20 to 2466% Female34% Male
- Though our survey we discovered something interesting. Many people are interested in trying new things but have never tasted organic, craft spirits. Maybe they don’t know where to find them? Maybe they don’t know what they are?
- Only 9 of the 80 respondents had ever purchased alcohol online it seems selling cases to restaurants and bars along with establishing a good social media buzz is the first step at getting sales in the D.C. and Philadelphia markets before getting direct to consumer sales.
- If this had been a true survey of the population we would have liked to have a sample size of 384 but due to the 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.Additionally, although there was more secondary data research available via syndicated data sites they were only accessible for a fee and we were not able to incorporate it into the presentation. With more time and money a more in depth analysis can be done. Lastly because 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.
- As our survey results showed only 9 of the 80 respondents had ever purchased alcohol online. While there seem to be a ample 25 plus males and female consumers with the key psychological traits and key demographics needed to drive whiskey sales in the D.C. and Philadelphia markets it seems selling cases to restaurants and bars along with establishing a good social media buzz is the first step at getting sales in these areas before getting direct to consumer sales online. If there had to be a market to target first MeK suggests first moving into the D.C. area targeting the Innovators and Experiencers through the use of the internet and Washington City Paper (http://www.washingtoncitypaper.com/) and then after testing the techniques in D.C. translating them to the Philadelphia market.
- Part of connecting with the key target consumers the Experiencers and Innovators is to leverage their “thirst” for the new and exciting by being part of a mixology class, featured at a mixology bar, or as an exclusive whiskey in a signature drink. What we recommend is taking an idea that you have already used in Pittsburgh and transferring it to first the D.C. market testing your marketing mix and then moving the product to the Philadelphia market. Listed on this slide are the top bars listed in both D.C. and Philadelphia as good places to make inroads.
- Best of luck and we hope you all the success in the world!