Market research - Essay Example

Comments (0) Cite this document
Summary
MARKETING RESEARCH TABLE OF CONTENTS 1.0 Executive summary 2.0 Introduction 3.0 Contents 4.0 Conclusion 5.0 Bibliography 1.0 Executive summary The Kellogg Company, founded by W.K.Kellogg in 1906, is, today, the world leader in cereal production. It also produces a whole range of convenience foods including cookies, crackers, snack foods and veggie foods…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
Market research
Read TextPreview

Extract of sample "Market research"

Download file to see previous pages One of the easier methods of new product development is brand extensions. In 1980, the company launched cornflakes in the UK market. Buoyed by its huge success, it has been regularly expanding this market through the strategy of brand extensions. Crunchy Nut clusters launched in 2003 was followed by Crunchy Nut Bites which hit the market in 2008. All these brands have been hugely successful for Kellogg’s. This paper traces the success story of Kellogg’s. It outlines the importance of marketing research, provides for a critique on the four-stage research process at the company and also presents the salient findings from marketing research undertaken for the Crunchy Nut Bites and the new Coco Pops brand. 2.0 Introduction Kellogg’s is a world leader in the cereal market. With nearly 500 successful brands in its portfolio, it believes in a domineering market presence through the all-important strategy of innovation complemented by marketing clout. Truly, a transnational corporation, it has manufacturing facilities in 18 countries which enables it to cater, far and wide, to over 180 countries, globally. Kellogg’s introduced Crunchy Nut Cornflakes in the UK market in 1980. Over the next two decades, this brand generated huge sales of around ?68 million. In 2003, Crunchy Nut Clusters, a product extension, was launched in two varieties – Milk Chocolate Curls and Honey and Nut. This strategy was highly successful as it enabled Kellogg’s to garner annual revenues of ?21 million. Riding on this success, in 2008, Crunchy Nut Bites, arrived in the market. Achieving a record of nearly ?7 million in its very first year of full sales, the newest launch was also a major hit. The most critical factor in the success of Kellogg’s new product initiative is its elaborate, marketing research. Research is, unfailingly, undertaken for every single step of the way right from idea generation to market commercialization. Primary as well as Secondary research is carried out. Both forms of research, namely, qualitative and quantitative research is given due importance. A unique four-stage approach commencing with discovery and leading onto selection of the best product idea, is followed by transforming the idea into a complete new product and concludes with a forecast of sales for the new product. This comprehensive research framework has stood the company is very good stead, over the years. It enables it to maintain constant interaction with the most important stakeholder of any organization, irrespective of form, nature and size, the consumer. This consumer-marketer interaction and interface enables Kellogg’s to regularly tap the consumer’s pulse and identify their wants and needs. This mode of consumer empowerment translates into strong consumer advocacy of the Kellogg’s brand and goes beyond customer satisfaction leading to consumer delight. Consequently, consumer retention becomes easier and new customer attraction is also facilitated through product promotions and other marketing efforts. In days of reduced market research spending (Quelch 2009), its reliance and stress on the need and efficacy of marketing research, has paved the way for a sustained competitive advantage (Porter 1965), for Kellogg’s. 3.0 Contents Innovation refers to creation or introduction of something new. Though innovation and creativity is used synonymously, innovation is greater than ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Market research Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1423172-market-research
(Market Research Essay Example | Topics and Well Written Essays - 2000 Words)
https://studentshare.org/environmental-studies/1423172-market-research.
“Market Research Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/environmental-studies/1423172-market-research.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Market research

MARKET RESEARCH

...? Introduction This marketing report delves in the cut flower business in Australia. It begins by assessing the industry by looking at the export volumes and range of flowers exported to overseas markets or just sold locally. It then gives details on the statistics that we apply to assess the value of marketing drives including industry turnover, profits and shareholder value. A twelve month period advertising plan is then developed for the product. Cut flowers refer to floral parts that have been cut from the main plant and are usually used for indoor and outdoor decorative purposes. It is however mainly used to show affection during special events as they are exchanged with people with...
3 Pages(750 words)Essay

Market Research

...? Marketing Research: Competing Company and Product SWOT Analysis for the Launch of a New Product SWOT analysis is used as a strategic method of management in analyzing a company’s strengths, weaknesses, opportunities and threats. It is usually carried out in the wake of a new project or a business undertaking. All it provides for the organization is identification of principal internal and external aspects that may be either desirable or otherwise to the organization. This paper is destined at analyzing the Microsoft Corporation through conducting a SWOT analysis and using the findings to help in the launch of a new product. The product being launched is that of a rival company to Microsoft, Apple;...
4 Pages(1000 words)Essay

Market research

...s: Details: Due Market Research Economy, Race, religion and foreign policy are some of the key determiners of the outcome of the yet to be held November elections in the US. Each of the contestants has their personal views on these common factors that cut across. As such, various groups of voters have varied perception on each of the candidates. This calls for proper calculations and data analysis in order to determine who sells best. In so doing, a research on determining best candidate must take care of all the voter region’s composition and numbers as per a common view on the influential opinions. Henneberg (13) explores the challenges that have been faced by the US during the past...
4 Pages(1000 words)Essay

Market Research

...?BI INVESTMENT IN OVERSEAS MANAGEMENT TRAINING INDUSTRY Table of Contents 0 Introduction 2.0 Research Objectives 2.2 Market Size and Growth 2.4 Competitive Analysis of Management Training 3.0 Research Approach and Methodology 4.0 Research Design 4.1 Secondary Research Method 4.2 Primary Research 4.2.1 Sample 4.2.2 Data Collection Data Collection Instrument Method of Data Collection: 4.2.3 Data Analysis 5.0 Research Benefits 6.0 Conclusions MARKET RESEARCH Balmas Institute BI INVESTMENT IN OVERSEAS MANAGEMENT TRAINING INDUSTRY To: The Managing Director From: Marketing...
12 Pages(3000 words)Essay

MARKET RESEARCH

...?Section Market Research, Qualitative and Quantitative Techniques: Discuss the purpose of market research in a market-oriented company such as Kellogg’s and also explain some of the differences between qualitative and quantitative research and that Kellogg’s requires both these research methods. The market research method is important for a market-oriented company due to various reasons. Market research prevents the company from taking wrong decisions regarding the launch of new products. This type of research is mainly...
6 Pages(1500 words)Essay

Market Research

...Market Research MRKT 20025 Prepared for Melissa Stevenson, Research Head By Wei-Ying HSIAO, Researcher S0136459 September 2009 Central Queensland University Table of Contents Table of Contents 1 Executive Summary 2 1.0Quantitative Information: 3 1.1Needed Information: 3 1.2 Methods to Obtain the Information: 4 2.0Research Hypotheses 5 3.0Research 6 3.1Research Design: 6 3.2Chosen Questionnaire: 6 3.3Reasons for choice: 7 4.0 Scaling and Questionnaire Measurements: 7 4.1 Sampling Design: 8 5.0 Data Collection: 9 5.1 Key Ethical Issues: 10 6.0 Data Analysis: 10 8.0 Conclusions 13 Bibliography 13 Executive Summary Customer loyalty and customer retention are two major aspects...
11 Pages(2750 words)Essay

Market Research

...Task: Market Research Introduction Exportation of cars to other countries may face various challenges. Considerations must bemade through weighing between the available options before making an informed choice. For this reason, it is critical to have information about the countries’ foreign policies and restrictions that may affect trade. For this reason, a research on what transpires deems necessary before making a choice. In this case, two countries of interest will be analyzed from diverse angles so as to make a favorable decision on where to sell cars as an export business. Brazilian situation Foreign relation among the government of Brazil and other nations and international...
4 Pages(1000 words)Assignment

Market Research

...Market research Market research Market research is a business strategy which involves the collection of information about the targetclients or market. In any business, the primary goal is to make profit. However, no profit can be realized if the clients’ demands, needs, tastes and preferences are met. In order to achieve this, it is necessary to take the initiatives to conduct an extensive market research so as to acquire such important information (McDonald, 2007). Hence, it implies that it is incumbent upon any investor to organize and thoroughly study the market situation before introducing a new product into it. For any new business to know about the market to be ventured into, it is necessary to conduct primary and secondary... ...
2 Pages(500 words)Essay

Market Research

...MARKET RESEARCH  In regard to my choice of mobile catering services limited, I realized that in-depth secondary research of various market data is critical in the overall outcome f the business feasibility. A lot of inspiration can be obtained from MacDonald which has remained on top in the catering industry. Reading various journals on the firm gives a lot of customer satisfaction gap. It has been a force to reckon in the catering industry due to its affordable pricing strategies and product differentiation. It strong side superior products with various prices and the opportunities still available in this industry is the need for blend of nutrition with healthcare...
2 Pages(500 words)Essay

Market research

...Market Research By Lecturer’s and To come up with a very outstanding market strategy, the aspect of carrying out adequate market research and analysis is very essential. Proper market research often works towards enhancing the market niche. Marketing research refers to a set of procedures that links customers, the consumers, and the end users to the ultimate marketers through the aspect of availing adequate information (McNulty, 2014). This refers to the information that is utilized in identification and definition of marketing problems...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Market research for FREE!

Contact Us