Date post: | 12-Jul-2015 |
Category: |
Marketing |
Upload: | christina-chen |
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NATHANIEL BAO AKANKSA CHAUBAL MICHELLE LI
ANDERS BJELLA CHRISTINA CHEN JANE TAN
Founded in 2013
Montreal-based
You deserve well cultured yogurt. “ ” LOCALLY PRODUCED
GOURMET FLAVOURS
EUROPEAN GLASS JARS
DISTRIBUTION CHANNELS
Restaurants Delivery Catering – Yogurt Bar
RESEARCH OBJECTIVES
The answers to these questions would fulfill our objectives to enhance Cult’s positioning in the market, and increase sales and target market exposure.
Determining target market demographics Assessing the current state of the yogurt market Evaluating the Cult’s current product packaging and offerings Gauging the perception of the Cult brand.
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RESEARCH PROCESS
1.
2.
3 Focus groups female 18-24, female 25-34, male 18-34 2 In-depth interviews Online survey via Qualtrics Screening questions How often they eat regular yogurt and Greek yogurt? Demographic questions (age, gender, profession, weekly groceries spending, geography)
General consumer habits Ideal yogurt product and packaging Assess Cult’s current positioning
3.
DATA COLLECTION AND SAMPLING
contest to win Starbucks gift card
301 Total resulting sample size
18-34 Sampling frame: Year old | male and female | living in Montreal
Distributed
sampling (quota sampling)
through Facebook groups, Twitter hashtags, in cafes (loaded on iPads)
Incentive
Nonprobability
SAMPLE DEMOGRAPHICS
0
50
100
150
200
250
male female
Freq
uenc
y
Gender
0
50
100
150
200
250
student working professionals
other
Profession
0
20
40
60
80
100
120
140
Location in Montreal
0
50
100
150
200
250
under 18 18-24 25-34
Age Group
TARGET DEMOGRAPHICS
Female 25-34 age group
Professionals Downtown & Plateau
HEAVY CONSUMERS of GREEK & REGULAR YOGURT
Consume yogurt at least once/week
Loyal to Greek yogurt
More likely to consume Greek over regular despite of other factors
More concerned with low fat
Heavy consumers of Greek yogurt
No meaningful differences between the genders
Price Flavor Brand Size > > >
PRODUCT PREFERENCES
Most important factors when purchasing yogurt products for heavy users
Factors most heavily affect purchase intention
Value for money Availability Healthiness Quality > > >
Descriptive analysis test and difference analysis tests
Predictive analysis test ☛ linear relationship between importance factors for the ideal yogurt product vs. heavy consumption of yogurt
Significant factors ☛ probiotic | brand I trust | good value for money
FINDINGS: PACKAGING
Unique packaging and isn’t wasteful
Descriptive analysis to find significant differences in frequency
glass jars
foil seal and logo size =
Most important for the best packaging of yogurt products
Visibility of ingredients Easy to store/dispose Protect the product from damage
Linear regression predictive analysis t ☛ packaging importance factors vs. purchase decisions
FINDINGS: PACKAGING
0
20
40
60
80
100
120
Individual single serve Pack of single serve (4-8 servings)
Medium size (aprox. 500g)
Large size (approx. 1L)
What packaging size do you usually purchase?
More frequent yogurt consumers are more likely to purchase larger containers (medium/large) than less frequent eaters.
Single serving was the most popular size, while medium size containers, surprisingly, was a close runner-up.
Correlation between gender and serving size: female participants prefer small serving sizes.
Overall, customers are satisfied with Cult’s individual serving size
FLAVOR PREFERENCES Most popular options Vanilla Chai Strawberry Bergamont Mango Lassi
(Focus group loved the options)
83% of people stated that flavor options increase the likelihood that they would purchase Cult yogurt
of the respondents are willing to purchase Cult Yogurt at a price of $3.25.
FINDINGS: PRICING
Level of consumption doesn’t affect how much consumers are willing to pay. Everyone expect to pay the same.
Very fixed market equilibrium price → unmovable
Regular Yogurt The more the consumer consumes Greek yogurt, the more they are willing to pay for Cult Yogurt.
Change in price will lead to change in quantity
Greek Yogurt
of the respondents are only willing to pay $3 or less 84%
36%
FINDINGS: PLACE OF PURCHASE
Downtown Mile End Westmount
Expected distribution
location
Grocery store - local/niche Café/coffee shops Farmers market
Consumption situation
Snack Breakfast
Weekly grocery spending >$100
OVERALL POSITIONING
Create perception of a good value of money
Probiotic High quality Healthy Sustainable
Position toward “fresh” and “healthy” Breakfast or snack option
RECOMMENDATIONS: PLACE
✔ ✔ Increase distribution channel to include more cafés and niche grocery stores in the greater Montreal area
Promote yogurt bars heavily Leverage summer festivals in Montreal to promote the Cult brand
✔
RECOMMENDATIONS: PROMOTION
✔
Maintain a presence in the local “green” community… farmers markets
Continue leveraging social media campaigns… encourage people to post to Instagram or Facebook with the Cult Yogurt page ✔
✔
Emphasis on recyclability of glass jar
Made in Montreal PROBIOTICS
GREEK YOGURT�
BREAKFAST | SNACK | DESSERT
RECOMMENDATIONS: PRICE
✔ Short run: maintain price (skim pricing) Focus on promotion (reaching more target customers) Expand production capacity
✔ Long run: as variable costs decrease slowly decrease price to $2-$3 range to gain more sales
RECOMMENDATIONS: PRODUCT RECOMMENDATIONS: PACKAGING
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✔
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Keep glass jar that shows the ingredients
Recycling rebate program (+ non-wasteful eco-friendly image) Replace foil cap w/ recycled resealable plastic cap
Labeling: + vivid colors + nutritional information & ingredients + buzzwords: probiotic, locally sourced, high quality
RECOMMENDATIONS: PRODUCT RECOMMENDATIONS: SIZE
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✔
Keep current individual serving size (140g) ☛ cafés
Introduce medium (500-750g) and large options (1L) ☛ grocery stores and delivery service
RECOMMENDATIONS: PRODUCT RECOMMENDATIONS: FLAVORS
✔
✔
Currently good job ☛ variety of flavors promotes willingness to purchase
Continue innovating with new flavors.
Position as a breakfast food ☛ offer healthy granola parfaits that can be eaten both in the morning and as a snack
✔
OPEN A FRESH YOGURT BAR
Gain more exposure to Cult’s target market
Go-to place for breakfast and snack
Downtown area | morning high traffic area near Montreal’s corporate district
Freshly made and packed to-go parfaits (seasonally changing) + fresh fruit, nuts, grain, and granola
Build the Cult brand + direct access to consumers to continuously improve their yogurt offerings
Thank you