Identifying the Problem - Assignment Example

The CEO of Ajax Foods has had very good success with its chicken pie product. The company has reached a point where the firm wants to obtain sales growth in order to meet the expectations of the shareholders of the company. In order to achieve that goal the company is considering expanding its product line. To introduce a new product requires that the company perform market research to determine the viability of the project. There are two types of market research that the company could perform.

The two options are primary research and secondary research. Primary research is an original research that is performed by the company or an external consultant, while secondary research is information that is already available in the market such as journal articles, professional databases, websites, or magazines among other sources (DeVault). Based on the circumstances Ajax Foods faces the company should perform primary research. The firm has to determine whether its customers desire to purchase its chicken pies in the deli section of supermarkets.

A way to determine the viability of the project is by selecting a few stores for a beta test of the product. The company should develop questionnaires to be given out to the customers that purchase the chicken pies at the deli section of the beta test. In the questionnaire the company will ask the customers a series of questions including whether they would be interested in purchasing other types of food products from Ajax Foods. Once the primary research is completed the firm has to analyze its results.

Based on those results the company will make the decision of whether or not to expand its product line. Work Cited PageDeVault, G. 2013. “Primary Research.” 7 February 2013.