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Market Research: Case Study on Kellogg's - Essay Example

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Market Research: Case Study on Kellogg’s (Name) (University) (Course) (Tutor) (Date) Section 1 - Market Research & Qualitative and Quantitative Techniques A business such as Kellogg’s that need to achieve higher or superior performance in the current business climate must be able to develop and continuously sustain its competitive advantage…
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Market Research: Case Study on Kelloggs
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Download file to see previous pages This focus has rapidly shifted in the current global market environment. This is because of the ever-growing sensitivity of consumers who demand satisfaction of their needs and wants by the brands in the market. Thus, the focus is now on capabilities, which are able to deliver very superior value to customers in a consistent manner and should be able to sustain such an operation in the future to remain competitively in business (Day, 1994, pp.37-52). this is why it is important for a market oriented firm to constantly conduct a market research to keep its culture and meet the value based needs of its customers (Piercy, et al., 2002, pp.261-273). A business could be defined as market-oriented when it has a culture that is wholly and systematically focused on the creation of value that is superior in serving the needs of its customers. This ensures that it performs satisfactorily (Celuch, et al., 2002, pp.545-554). To ensure that the value creation is achieved, marketers have to collect and essentially coordinate any form of applicable information on their customers or clients, industrial competitors in the market, and other players or influences that have an impact on its market within and without the industry. This is the role that marketing research plays in market-oriented firms. Market research for a market oriented firm should be able to encompass three components that are very vital to the meeting of a business’s goals (Day, 1994, pp.37-52). These components include the customer orientation, cross-functional orientation, and competitor focus. These three components are very much long-term in their nature and are based on both vision of the firm and the profit-making aspect. Market research does eventually give the firm a focus that is unified and geared towards realizing superior performance in the market through satisfying the needs of consumers. Overall, market research forms the basis of short-term and long-term marketing strategies that are adopted by the firm as it is the case for Kellogg’s in its pursuit to serve the customers better (Roberts, 2002, pp.23-29). The differences between qualitative and quantitative research comes from the type of data being collected, how it is collected, and analysed. Qualitative data has a lot to do with human emotions or psychology about a given product. This is because it addresses the feelings of people about a given product, their opinions and attitudes as far as the expected and realized performance of a product is (Mason, 1994, pp.56-67). Kellogg’s need this information so that it can be able to position its brand in the market and stay focused on satisfying these emotional aspects of its consumers. Ignoring qualitative data could render quantitative data useless due to inability to explain itself. Qualitative data has over the years been applied in explaining the findings of the quantitative data analysis since figures cannot make meaning on their own (Boaduo, 2005, pp.88-101). Given the subjectivity nature of qualitative research, Kellogg’s will be able to know what most of its customers need and find ways of satisfying these psychological processes in the market. On the other hand, quantitative rese ...Download file to see next pagesRead More
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