Page 34 - Drinks Industry - 14 Jan 2016
P. 34
CONTENTS
STAGE 1
a) Know Your Market
Continued
Do you know your target consumer?
Consumer Insight:
After the immersion stage of research, you will be aware of your knowledge gaps. Consumer
insights will help you ill those gaps. To ensure you get a deep and accurate understanding of why
consumers do what they do, you should consider more formal consumer research. There are many
professional agencies which provide facilitated interaction with consumers and customers in a
suitable environment. Before engaging with a research agency, it is strongly recommended that
you establish your research brief.
A template is available at www.bordbiavantage.ie/insight-innovation/branding/. This template
helps you articulate your thoughts prior to the consumer research on key research questions such
as:
• What you want to ind out from the research, what are your objectives?
• Who you want to speak to, who is your consumer target?
• How you want to engage consumers, what is the best way to connect?
• What’s the timing of this work and how much budget do you have
available to fund this research?
The research brief needs to capture these missing pieces of information for your market. It will help
you explore the right price points and promotions that may work for your product and brand with
your target consumer. It needs to also provide clear consumer perceptions of your competitive set
and what’s working or not working for them in the market. The outputs should be able to provide
very clear direction to your business plan and speciically your brand and portfolio plans to connect
with your target market.
34
STAGE 1
a) Know Your Market
Continued
Do you know your target consumer?
Consumer Insight:
After the immersion stage of research, you will be aware of your knowledge gaps. Consumer
insights will help you ill those gaps. To ensure you get a deep and accurate understanding of why
consumers do what they do, you should consider more formal consumer research. There are many
professional agencies which provide facilitated interaction with consumers and customers in a
suitable environment. Before engaging with a research agency, it is strongly recommended that
you establish your research brief.
A template is available at www.bordbiavantage.ie/insight-innovation/branding/. This template
helps you articulate your thoughts prior to the consumer research on key research questions such
as:
• What you want to ind out from the research, what are your objectives?
• Who you want to speak to, who is your consumer target?
• How you want to engage consumers, what is the best way to connect?
• What’s the timing of this work and how much budget do you have
available to fund this research?
The research brief needs to capture these missing pieces of information for your market. It will help
you explore the right price points and promotions that may work for your product and brand with
your target consumer. It needs to also provide clear consumer perceptions of your competitive set
and what’s working or not working for them in the market. The outputs should be able to provide
very clear direction to your business plan and speciically your brand and portfolio plans to connect
with your target market.
34
