Our client wanted to understand whether a proliferation of low priced Canadian lobster offered through discount stores at Christmas was de-valuing the market as a whole.
In order to compete effectvely, they needed to understand whether they should offer a low priced, lower quality product or maintain their existing range’s premium category position.
What we did
We conducted an online quantitative study with a representative sample of 350 lobster buyers in the UK.
Respondents were asked about their past purchases and future intentions, as well as quality perceptions. This helped us to understand the impact of the discounters lobsters on the market.
We included Price Sensitivity Meter questions in the survey to identify the price ranges that could be achieved for all lobsters and for our client’s products, at certain stores, and from both first time and repeat buyers.
Our insights enabled the client to launch a revised portfolio and pricing strategy that enabled them to compete with the discounters’ offerings but retain their premium category positioning.