Marketing research at the Festival of Tea
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"RESEARCHING THE TEA MARKET" PROJECT
GOAL: to study the tea drinkers' existing preferences, their attitudes towards various tea brands and discover the underlying reasons for those attitudes, as well as the consumers' motives and needs.
1. Analyze the tea market capacity.
2. Analyze the price policy and assortment policy of the key tea market players; analyze the rating of various brands and manufacturers on the market .
3. Analyze any peculiarities in the behavior of tea consumers; reasons for choosing certain brands; degree of loyalty to certain tea selections; volume and frequency of one-time sales and places of purchase.
4. Discover how representatives of various socio-demographic groups view the relative importance of various tea product characteristics.
5. Segment the market. Describe the psychographic and socio-demographic profile of various market segments.
6. Study the life values of representatives in different market segments; discover the life style of various target audiences, their habits and their free time allocation .
7. Uncover the hierarchy of valuable traits that consumers expect in a given product. Graph psychographic and socio-demographic profiles of loyal customers for 10 key market players.
To meet the targets above, it is proposed to carry out quantitative researched complemented by qualitative studies:
1. A marketing audit.
2. Consumer surveys.
3. Specific target groups (using modified psychological techniques to uncover the deep underlying reasons for consumer motivation).