Research Methods And Data Mining

1405 Words Jan 21st, 2016 6 Pages
Market Research
Research Methods & Data Mining
A Bottled Water survey done by Mintel, in spring of 2015, found mid-priced brands show the highest market penetration. 68% of bottled water drinkers surveyed by Mintel say that they usually drink mid-priced brands. More than half of those surveyed said they usually drink value brands, showing a definite consumer preference towards mid-and value-priced brands on the market. Only 13% of those surveyed drank Premium water. (Mintel Group Ltd. 2015)
Enhancements such as vitamins and minerals can be used to increase the price of the product. This will also increase dollar sales, and possibly sales volume. Creative branding strategies also have the potential for increasing bottled water price (Mintel Group Ltd. 2015). There’s an estimated 1,800 bottled water brands available worldwide, and an estimated 900 brands of bottled water are sold in the United States alone. New labels are launched into the market constantly, many of them local or regional, we need to be diligent and ready to be competitive in the market.
The bottled water market is experiencing a period of healthy growth. In 2008, the U.S. bottled water sales reached more than 8.6 billion gallons. By 2011, this number had risen to 9.1 billion gallons. Americans drink 21 gallons of bottled water per capita per year. This growth is creating interesting challenges for both mass market brands. The mass market brands are now dealing with a market that is increasingly competitive…
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