Write a report on Wild Rose Brewery Company.
The term market segmentation is defined as the identification of fragments of the market that are heterogeneous in nature (Wilkinson, 2013). The market for an organization can be segregated on the basis of four characteristics of customers. These are geographic, demographic, psychographic and behavioural segmentation (Dolnicar & Leisch, 2014). The above mentioned company “Wild Rose Brewery” is based on Alberta in Canada and has been conducting business since 1996 (Home Page – Wild Rose Brewery, 2018). It is one of the best breweries that Canada possesses and has expanded onto the United States as well. Hence, for such a huge business, market segmentation plays an important role in identifying the needs of the consumers. Considering the geographical factor of segmentation, this business is based on Alberta, which provides them with the opportunity to gain maximum popularity in the region. Utilising the means of promotion properly, their geographical target market is in and around Alberta. The reason for choosing Alberta as their primary target market is their origin in the region. The business aims to attract the local customers first and gain the maximum popularity and business. Furthermore, they are planning to expand to the United States, which is the international market. This is because the demand of beer in America is high (Toro-González, McCluskey & Mittelhammer, 2014). Secondly, they consider demographic segmentation as one of their priorities. The legal drinking age in Canada is 19 years and the average income per person is less than $27,600. This has allowed them to offer a wide range of products of all price slabs. In addition, their target market are people of 19 years of age and above. Thirdly, they offer a wide range of products of multiple flavours. The wide range of products of multiple flavours is the result of analysing the taste and preference of the consumers which is a key element in behaviouristic segmentation. They have analysed the brand loyalty and usage rate of consumers, as a result of which several flavoured drinks were introduced.
Consumer behaviour is defined as the means taken by individual consumers, groups or even organizations to select, acquire, utilize and dispose goods, services and ideas in order to satisfy their needs (Foxall, 2014). The behaviour of the consumer is likely to be influenced by various factors both internal and external in nature. It is different in case of different consumers. Consumer behaviour tends to vary with geographical location since different locations have different societies with different taste and culture. The information of behaviour of the consumers is important for the firms in terms of planning their strategies.
“Wild Rose Brewery” markets its products in such a way that it influences the consumers to buy, use and express brand loyalty with them. The external factors that influence the consumers include cultural factors (Rani, 2014). The brewery belongs to Alberta, Canada. The Canadian people can easily connect to the business because it belongs to their home culture. The business has considered the geographical diversity even in the territory of Canada and has introduced beers depending on the taste and preferences of consumers belonging to various locations in the country. In addition, they have products of different price slabs depending on the affordability of the consumers. Social factors play a role in influencing consumer behaviour. Factors like reference of a product from a different individual or family and even status in the society influence the behaviour of a consumer.
The internal factors include personal factors such as age, occupation, economic situation and lifestyle of the consumers (Gifford & Nilsson, 2014). The consumers of the business are above 19 years of age because of the legal factors and belong to different income groups. Organizations worldwide attempt to study and influence the psychology of the consumer, which affects the business of the firm. Motivation, perception and attitude of consumers towards a certain firm is the key to do successful business. “Wild Rose Brewery” markets its products in such a way that it affect s the consumers psychologically.
Mr. James Roberts is a resident of Alberta where “Wild Rose Brewery” is located. He is a 55 year old soft spoken man working at a bank. He is a regular at the brewery located in an abandoned hangar of the air force, renovated to serve the purpose. He prefers the “Special Old Bitter” beer that the brewery has to offer since it is light in nature. He comes at the place to relax after a hardworking day and hence prefers the light beer which is bitter in taste since it helps him rejuvenate. Mr. Roberts has developed a loyalty towards the brand due to its affordable range of products, excellent ambience and prompt service.
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Big Rock Brewery Deschutes Brewery |
High price New Belgium Sierra Nevada |
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Good quality Harpoon |
Bad quality |
The positioning map mentioned above points out the companies which are the direct competitors of “Wild Rose Brewery” in terms of price, revenue and quality. As the map suggests, many of the competitors are gaining more revenue from their businesses than the mentioned brewery.
The company mentioned in this paper could seek the help of a survey to understand the target market better. Elaborately, the owners of “Wild Rose Brewery” can install survey forms at their store which will have questions about the taste and preference of the consumers and other questions relating to the source from where the consumers heard about the firm (Huang & Sarigöllü, 2014). It is to be filled in by the consumers. Online survey forms can be distributed on the internet for digitally active users to fill in (Brace, 2018). The data from these forms will then be analysed by the research and development team of the company for a better understanding of the target market they are operating in.
The reason for suggesting this way of research is to understand the factors influencing the behaviour of the consumers and to determine the areas of market segmentation the business requires to work upon.
The brewery even if is performing magnificently in the market, there is scope for improvement. The company should promote drinking of beer as a way of life for which it needs to introduce a wide range of affordable products based on the tastes and preferences of the consumers. This will help them attract more customers since they will find a drink suiting their taste. The selling of the product should not be limited to the store but also requires to be promoted online in the age of social media
References:
Brace, I. (2018). Questionnaire design: How to plan, structure and write survey material for effective market research. Kogan Page Publishers.
Dolnicar, S., & Leisch, F. (2014). Using graphical statistics to better understand market segmentation solutions. International Journal of Market Research, 56(2), 207-230.
Foxall, G. (2014). Consumer Behaviour (RLE Consumer Behaviour): A Practical Guide. Routledge.
Gifford, R., & Nilsson, A. (2014). Personal and social factors that influence pro?environmental concern and behaviour: A review. International Journal of Psychology, 49(3), 141-157.
Home Page – Wild Rose Brewery. (2018). Retrieved from https://wildrosebrewery.com/
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.
Rani, P. (2014). Factors influencing consumer behaviour. International journal of current research and academic review, 2(9), 52-61.
Toro-González, D., McCluskey, J. J., & Mittelhammer, R. C. (2014). Beer snobs do exist: Estimation of beer demand by type. Journal of agricultural and resource economics, 174-187.
Wilkinson, F. (Ed.). (2013). The dynamics of labour market segmentation. Elsevier.
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