- Two-part market study focused on response to TAAT concept, brand image and product-user experience
- Responses enabled company to make near-term business decisions based on a combination of practical, theoretical insights
- Noteworthy results from the study focus on price and ordering availability
Price and the ability to purchase online are key factors for adult-age smokers, according to a recent two-part market research study conducted for TAAT Lifestyle & Wellness (CSE: TAAT) OTCQB: TOBAF) by Toronto-based market research firm Burak Jacobson Partners Inc. The study specifically focused on response to the TAAT(TM) concept, brand image and product-user experience; general response indicated that majority of participants have an overall positive impression of the company, which recently launched its flagship product TAAT(TM), a tobacco-free, nicotine-free cigarette alternative.
“Conducting this study among smokers aged 21+ in Ohio and neighboring states after launching the product in Q4 2020 enables us to make near-term business decisions based on a combination of practical and theoretical insights,” said TAAT CEO Setti Coscarella. “Based on how frequently TAAT is reordered by retailers in Ohio and purchased online by smokers aged 21+ across the country, we know there is continued interest.”
The consumer research study polled a group of more than 1,200 smokers aged 21 and older in Ohio, Michigan and Illinois regarding their perception of TAAT and how they might use TAAT, either in place of or alongside their current tobacco cigarette of choice. The survey group was comprised of 60% male and 40% female respondents, with approximately 70% residing in suburban or rural areas. On average, smokers in this group consumed more than 90 cigarettes per week, and nearly one-third were users of both tobacco cigarettes and electronic cigarettes.
Noteworthy results from the study focus on price and ordering availability. For instance, respondents who indicated a desire to discontinue or cut down on smoking were asked: What, if anything, do you dislike about smoking cigarettes? A significant majority of those — more than 65% — pointed to the cost of purchasing tobacco cigarettes as being a key issue.
In addition, more than half of all survey respondents stated that they either definitely would or probably would purchase TAAT at certain proposed price points. Of the 28% who indicated they definitely Would purchase the product, nearly half pointed to the retail price being more affordable than their regular brand of cigarettes. The option of purchasing TAAT was a huge point of interest; 95% of respondents stating this was an extremely appealing, very appealing or somewhat appealing aspect of TAAT.
The second part of the survey involved sending a group of 175 Ohio respondents sample cartons of TAAT Original, Smooth, or Menthol and asking them to complete an in-home trial and then provide feedback through an online questionnaire. Key results of that part of the study indicate that nearly 75% of responses rated the game-changing product as very good or somewhat good; the rating was significantly higher — 84% —among those who sampled TAAT Menthol.
This is the type of information TAAT was looking for when it commissioned the study. “We need far more information . . . in order to intelligently plan our efforts to roll TAAT out on a larger scale,” said Coscarella. “In this two-part consumer research study, we learned many things about how TAAT is perceived both as a brand and as a product in concept, in addition to how the user experience of TAAT is regarded among those who sampled it. The responses to this study reinforced our belief that TAAT has several competitive advantages in the USD $814 billion global tobacco industry, including the novel element of being nicotine free and tobacco free, an attractive price point compared to tobacco cigarettes, and the ability to purchase TAAT online. As we expand our market footprint in 2021, we intend to capitalize on these advantages to capture the interest of smokers aged 21+ and further establish TAAT as a better choice and a recognized brand name in the tobacco category.”
TAAT Lifestyle and Wellness has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco(TM), a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with Big Tobacco pedigree, TAAT was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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