10.2 Market research / identifying target market

Question 1

What is market research?

Answer 1

• gathering & analysis of data about market segments

= understanding wants & needs

Question 2

When is market research useful?

Answer 2

1.) at all stages
- prior to starting
= demand?; which features are wanted?

• creating the marketing strategy
  = accurate segmentation exercise?

Question 3

List the 4 main aims of market research!

Answer 3

1.) what information are needed? (price willing to pay)

2.) From whom gathering data
(small group or cross-section)

3.) How do the consumers think & decide
(influences)

3. ) How will the research carried out?
   
   • survey
   • focus group
   • interviews
   • observing consumer behaviour
   • secondary research

Question 4

US Portraits 2018 by Wine Intelligence

List the 4 main question about the consumers for segmentation!

Answer 4

1. ) Who are they?
2. ) Why do they drink?
3. ) Where?
4. ) What do they drink?

Question 5

US Portraits 2018 by Wine Intelligence

List the 6 segments of people from young to old!

Answer 5

1. ) social newbies
2. ) engaged explorers
3. ) content treaters
4. ) premium brand suburbans

5.) senior bargain hunters
(Senioren Schnäppchen-Jäger)

6.) kitchen casuals

Question 6

answer the 4 main question about the consumers for segmentation.

social newbies

Answer 6

1. ) youngest, drinking frequent, need recommendations
2. ) on-premise, social situations
3. ) convenience, online
4. ) niche varieties, niche regions

Question 7

answer the 4 main question about the consumers for segmentation.

engaged explorers

Answer 7

1. ) younger, confident, new wines
2. ) part of lifestyle/social life
3. ) wine shops & wineries, on- and off-premises

4.) broadest repertoire, new varieties, new regions,
new types

Question 8

answer the 4 main question about the consumers for segmentation.

content treaters

Answer 8

1. ) infrequent, high spending drinkers
2. ) social life, pairing
3. ) liquor stores, shops, wineries
4. ) mainstream varieties, domestic regions

Question 9

answer the 4 main question about the consumers for segmentation.

premium brand suburbans

Answer 9

1. ) mid to older aged, frequent drinkers, low spending, high knowledge
2. ) social life, on-premise (casual)
3. ) supermarket, wineries, bulk
4. ) broad repertoire, domestic

Question 10

answer the 4 main question about the consumers for segmentation.

senior bargain hunters

Answer 10

1. ) old segment, most infrequent, good knowledge
2. ) casual occasions at home
3. ) supermarket = value driven
4. ) stick to what they know

Question 11

answer the 4 main question about the consumers for segmentation.

kitchen casuals

Answer 11

1. ) old segment, infrequently, little interest
2. ) at home for informal occasions
3. ) price-conscious, supermarket
4. ) narrow repertoire , stick to what they know

Question 12

Which research methods can be used for gathering the datas?

Answer 12

1. ) desk research

2. ) field research

Question 13

Name 4 methods of observing a customers behavior!

Answer 13

1. ) watching movements
2. ) interacting
3. ) store loyalty cards
4. ) web analytics (cookies)

Question 14

List 3 facts how a store could influence the decision making of a customer.

Answer 14

1. ) lighting
2. ) music
3. ) decor