Marketing Research for Grey Goose Vodka
Essay Preview: Marketing Research for Grey Goose Vodka
Report this essay
Marketing Research
1. Define the problem.
The problem that will eventually exist will be the introduction of the new product “L Infusion Tropical” to the current market, attracting new customers to purchase our product, delivery of the products, advertisements campaigns, and what strategies will be most effective in order to target that market.
2. Data Collection
The collection of data will be based on the following criteria:
Survey method – We will conduct various surveys utilizing, telephone surveys, restaurants interview, hotels interview, retail stores interview, mail surveys, online surveys, in order to established a well organized data collection method.
Observation method – mystery shoppers, market basket data, scanner based, behavior scan, info scan, total sales, product demand, customers opinions.
The utilization of secondary data will be most useful since Grey Goose has been in the market for a good period of time and it has been known as one of the best tasting high quality vodka in the United States and around the world.
3. Sampling Method Selection.
We will most likely use a cluster sampling method in order to evaluate customers perception about our product and how they feel about it. Also we will evaluate customers demand in order to have a projected idea on how well the product is moving and how satisfied customers are depending on the different areas of South Beach Miami.
4. Data Analysis
In the process of that data analysis, we have decided that an independent firm located in the South Beach Miami area will be most helpful in conducting such research. Eventually, this will give us an advantage since it is located specifically in the same area as the target market. Such marketing evaluation will tell us how well the introduction of the product is doing and if there is anything that will require a revision of our product. Also it will help us determine if we can continue with it or just cut it.
The use of the Internet for marketing research.
Another important factor will be the used of the Internet in order to collect data directly from consumers that will help us guide our product more precise and more accurate to the specific target market.
We could use social website such as Facebook and Twitter in order to stay connected with the customers and get the feedback we need.
5. Budgets and Time Frame
We will required that for the first quarter, an evaluation of the product be perform on a monthly basis