butcherbox marketing research on expanding beef market
TRANSCRIPT
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H O W
CAN EXPAND IN BEEF MARKET
Marketing Research Team2Xiangyu MENG, Dongqi WANG, Huiruo ZHANG, Yueqi MENG, Chante BARNES
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C O N T E N TIntroduction
Problem DefinitionFindings
Conclusion & RecommendationLimitation
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INTRODUCTION
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INTRODUCTION
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PROBLEM DEFINITION
DM want to catch the opportunity of emerging need for healthy food and expand in beef market.
MR should study customers’ preferences and behaviors towards beef (, especially grass-fed beef if it’s possible).
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PROBLEM DEFINITION
WHO
WHERE
WHAT
What store they like? Requirements about beef & online service? Other service?
Where to obtain information?
Where to buy?
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PROBLEM DEFINITION
HOW
WHEN
When to buy? How often to buy?
How much is the premium? How much to buy at one time? How to cook?
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FINDINGS
75%
25%NO
YESWhether Cook Beef At Home?
60% of those respondents who cook beef purchase more than once every two weeks.
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FINDINGS
10%
90%
OFFLINE
ONLINEPurchasingChannel
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FINDINGS
FRESHNESS 88%TEXTURE 67%PRICE 56%NUTRITION 50%
are at least important for choosing beef.
What Customers Focus on ?
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FINDINGSGender & Healthy Beef
MORENUTRITIOUSORGANICFRESH
GRASS-FED
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FINDINGSGender & Price
25%
75%
How Male Satisfied With The Last Pur-
chase Price
49%
51%
How Female Sat-isfied With The Last Purchase
Price
AT LEAST SATISFIED
OTHER
AT LEAST SATISFIED
OTHER
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FINDINGSGender & Price
36%
64%
Male’s Expected Premium For 100%
Grass-fed Beef
65%
35%
Female’s Expected Premium for 100%
Grass-fed Beef
≥ $1< $1 ≥ $1
< $1
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FINDINGS
Males Target Market
Yeah! We Win!You men
pay too much
for beef…
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FINDINGSDescription of Males
Buy 1~2.99 lbs beef at one time
Are willing to pay $1~1.5 per lbs more for grass-fed beef
50% of males believe cut is at least important
Prefer Stewed dishes and steak cuts
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FINDINGSDescription of Males
Bad News
only 25% males know difference between grass-fed beef and organic beef. What’s worse, actually these males do not know core difference.
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LIMITATION
Simple random sampling instead of
stratified random sampling
Unable to study most valuable high-income male customers
Lack of
&
Can be more
representative
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CONCLUSION & RECOMMENDATION
First Challenge
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CONCLUSION & RECOMMENDATION
TEXTUREFRESHNES
S
W H Y ?
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CONCLUSION & RECOMMENDATION
Grass-fed
Second Challenge
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CONCLUSION & RECOMMENDATION
Solution
Publicize
TASTYHEALTHY
WORTHY
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CONCLUSION & RECOMMENDATION
Target market Referral
ProgramFriends & familySmaller Box8>3lbs; 5>2types
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