Tourism market research and launching a new product
A global organisation in the finance and insurance industry decided to take advantage of the development potential of the Polish financial market and start their business here.
When we started working with the client, they were planning to launch a new tourism product. However, before expanding the portfolio, they decided to find out what their customers really expect and what is their price sensitivity. It was necessary that the project also includes an analysis of the competitive environment and trends in the sector.
Together with the client we decided that the target group for the new product will consist not just of Polish, but also foreign tourists. To ensure the reliability of results in such a large survey of people of many nationalities, we developed multiple versions of the questionnaire. Questions were matched to the relevant attributes of each respondent, including language and currency used.
Our client decided that the product will be offered within a cross-selling offer. Therefore, in designing the study, we took into account the existing range of products. A study included both potential and current buyers of the product.
To quickly and efficiently carry out thousands of interviews, we used tablets (TAPI, Tablet Assisted Personal Interviewing). A questionnaire programmed on tablets proved to be extremely effective during a complex study like this one.
The final result of this research project was drawing up an optimal pricing strategy for the new product – one that is best suited to the expectations and capabilities of tourists.
Our recommendation was based on the results of thousands of price sensitivity tests conducted among respondents split into different groups.
An addition to the study was an analysis of prices charged by competing companies in the Polish and foreign markets in the tourism industry.
On the basis of information collected from tourists, we were also able to propose several changes to the existing offer. After those changes were made, the offer was seen as even more attractive to final consumers.
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Market Analysis Director