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Wigle Whiskey Market Research - MeK

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Wigle Whiskey Market Research - MeK

  1. 1. Whiskey Market Research Marketing Research Report Presented by: October 5, 2013
  2. 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. 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. 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. 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. 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. 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
  8. 8. Target Demographics -VALS
  9. 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. 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. 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. 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. 13. SURVEYRESULTS Polldaddy.com Results Survey Respondents Breakdown Typical Respondent: Female Over 45
  14. 14. SURVEYRESULTS Polldaddy.com Results Do people perceive whiskey as a "mans" drink?
  15. 15. Polldaddy.com ResultsSURVEYRESULTS People are interested in trying it… but don’t know where to find it?
  16. 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. 17. SURVEYRESULTS Polldaddy.com Results 71 of the 80 respondents have never purchased alcohol online
  18. 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. 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. 20. CONCLUSION Summary of findings including suggested actions. I. Introduction/Objectives II. Methods III. Results IV. Limitations V. Conclusions/Recommendations VI. Resources
  21. 21. Place Price PromoProduct WigleWhiskey Mix
  22. 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. 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
  24. 24. 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
  25. 25. “There is no bad whiskey.There are only some whiskeys that aren't as good as others.” - Raymond Chandler

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