Aug 5, 2024
Unveiling Consumer and Expert Insights Across Diverse Markets in Asia 🍸🌏
Project Aim: Decoding the APAC Luxury Tequila Market 🎯🍹
MindMarket teamed up with a leading insights agency for a British multinational alcoholic beverage company aiming to significantly boost their luxury tequila sales in the APAC region. The objective was to gather in-depth understanding of various markets and cultures to craft effective marketing strategies and campaigns.
Phase 1: Consumer Research with Focus Groups and Shop-Alongs 📊🛒
In the first phase, we conducted in-person focus groups and shop-alongs across three key markets: China, South Korea, and Australia. Our teams in Shanghai, Sydney, and Seoul recruited participants who spend above average on luxury drinks in high-end venues such as bars, restaurants, and clubs. We facilitated two focus groups per market, led by experienced local moderators who garnered a wealth of insights. Participants suggested co-hosting events with other luxury brands in fashion and innovative educational initiatives about tequila production.
In addition to focus groups, our expert fieldworkers conducted shop-alongs with five respondents in each market. These excursions into luxury nightclubs provided an observational study of consumer behavior, shedding light on how drinks are selected, ordered, and why certain choices are made. This dual-method approach offered a comprehensive view of the decision-making process for luxury beverages in high-end venues, exactly what the client needed to inform their future marketing strategies.
Phase 2: Online Interviews with Industry Experts 💻🍸
The second phase involved online interviews with bartenders and mixologists from high-end venues in China, Singapore, South Korea, Indonesia, and Australia. These conversations aimed to capture expert perceptions of tequila compared to other liquors and gather insights on how to make tequila more appealing to their clientele. By understanding the trends, client preferences, and local customs from those at the forefront of the industry, the client gained invaluable data to complement the consumer insights from phase one.
Methodology: Comprehensive Research and Expert Moderation 🛠️🗣️
MindMarket developed the screeners in close collaboration with our clients and conducted thorough recruitment to ensure the right participants were selected. We provided translation and transcription services to ensure accuracy and cultural relevance. Our local researchers and moderators played a pivotal role in extracting rich, actionable insights, and our Senior Project Manager, Nydia, served as the client's single point of contact across the APAC region.
Impact: Strategic Insights for Market Penetration 🚀🌟
The combination of consumer and expert research painted a detailed picture of the luxury tequila market in APAC. The insights gathered provided clear strategies, ideas, and propositions on how to increase sales in the region. From understanding consumer behavior in high-end venues to leveraging expert knowledge from bartenders and mixologists, the client is now equipped with a robust strategy to elevate their brand and drive sales growth in this diverse and dynamic market.
This project showcased MindMarket’s ability to manage and execute complex, multi-market research initiatives, delivering high-quality insights that empower clients to make informed strategic decisions.
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