Is Your Market Research Dry?

If your market research is dry, it’s not the research, it’s your market.

The CEO of Terlato Wines International and some of his top employees meet weekly for an elaborate lunch and to drink wine. Not his wine, but that of his competitors.

Ad Age recently wrote about Terlato and his unique brand of market research.
According to the article Terlato said: "We just want to know where we stand...And I venture a guess that a lot of wine companies and maybe even winemakers, they make their wine and they know their wine. But they don't spend a lot of time drinking other people's wine. And I think if there is one hallmark that we do, it's that we taste everything we can get our hands on."

With more than 50 brands that’s a lot of competitive wine to drink.

Terlato talks about meeting the changing needs of the customers and he sees that in the wine his competitors produce.

The other insight he talks about is that while his competitors focused on retail, Terlato focused on restaurants. Terlato said they always “felt like people discovered wine in restaurants.” And after going restaurant to restaurant he broadened his business beyond just Italian restaurants, the traditional category for their wines.

And finally market research drove them beyond their core demographic. Their brand grew up with baby boomers, but another brand of theirs focuses on millennials. The college kids used to drink beer, now they drink wine, Terlato said.

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