Comprehensive Market Research Report: Jack Daniel's RTD Brand Analysis

This report presents a market research analysis focused on Jack Daniel's RTD (Ready-To-Drink) products, specifically within the Australian market. The research investigates the decision-making process of consumers, considering factors influencing their choice between RTD and full-strength alcoholic beverages. It examines the competitive landscape, highlighting the challenges posed by full-strength drinks and other RTD brands. The report delves into marketing strategies that Jack Daniel's can employ to enhance its market share, including promotional tactics and customer retention practices. It also identifies key problems affecting sales, such as pricing and competition, and suggests measures like a 24/7 customer support system and storytelling to build customer relationships. The methodology likely includes analysis of secondary data, in-depth interviews, and a survey to gather both qualitative and quantitative data, culminating in recommendations for the brand to improve its market performance. The report aims to provide actionable insights for Jack Daniel's to strengthen its position in the Australian market.

MARKET
RESEARCH
DECISION PROBLEM

Decision Problem.
In this case of Jack Daniel’s decision problem is the event where an individual can only have a
‘YES’ or ‘NO’ answer. For our case Australian residents can either choose to take Jack Daniel’s
RTD or full strength drink (Rodriguez and Martinez 2011).
This is because the RTD or the ready to drink series that is being well accepted by the customers.
However some of the customers may not know the extra benefits that they will be getting after
the consumption of this prodysct. They might think that the full strength drinks will be better for
them. This company has to make sure that they are being able to convey their buyers regarding
the benefits of this product that is this product can be consumed both a personal and also a
private level that is at any office party. Consuming this RTD or the full strength products will how
the customers a taste of energy booster dinks and also the charm of consuming alcohol.

Marketing Strategy.
The Jack Daniels brand RTD being that it’s consumed similarly in Australia as full strength soon
with excellent marketing strategy and skills it might be able to take control of the whole market.
To prevent all this and maintain and increase in its sales the Jack Daniels company must increase
the productivity of its drink RTD.To maximize profits and take control of the market soon Jack
Daniels must ensure its drink RTD stands out in Australia more than other available drinks such
as full-strength drink. To increase the market cover of Jack Daniels drink RTD new marketing
strategy, quality and development should be done to ensure the drink reaches its most significant
potential (Hadar and Fox 2009).
Promotional strategies like the pilot testing and giving some discount coupons must also be used
so that the customers can be retained for a very long time. This will be helping the company to
make sure that customers are buying the new RTD range that has been launched by them.

Problems affecting Jack Daniels
drink sales.
In Australia almost 1.5 Million residents consume either Jack Daniels RTD or full-strength every
year. This means that the Jack Daniels brand RTD faces equally competition from full strength
drink, therefore, reduced sales yearly (Kolokotsa , Diakaki and Grigoroudis 2009).
The major problem is the tough competition that is faced by the company from the other
competitive firms who are selling several RTD drinks ad also some of the best varieties of the
full strength drink products. RTD or the ready to drink products are usually available at a higher
price in comparison to the full strength products. It is for this reason that they have to focus over
the reduction of the price so that it can be afforded by people belonging from all the different
income groups of the economy.

Practises that should be
maintained.
The company can also practice customer retention ways to ensure that loyal customers are not
forgotten in the search for new customers
Practices like develop a 24*7 customer support system that will be able to listen to the queries
and the complaints of the customers and then make sure that they are considering all the different
opinions and the viewpoints of the customers. This will help in drawing more number of
customers as the customers will know that they are valuable for the company and all their
opinions will be taken into consideration.
Story telling system in order to develop a personal attachment and connection with the customers
is important so that the customers are able to relate their own lives or the moment of of with the
consumption of the RTD the ready to drink products.

REFERENCES.
Hadar L, and Fox CR (2009) - Judgment and Decision Making, 2009 - decisionsciencenews.com.
Kahneman D and Tversky A (2013) - … of the fundamentals of financial decision …, 2013 -
World Scientific.
Kolokotsa D, Diakaki C, and Grigoroudis E (2009)… - Advances in Building …, 2009 - Taylor &
Francis
Rodriguez RM, and Martinez L (2011)… - IEEE Transactions on …, 2011 - ieeexplore.ieee.org.