Unit 10 Market Research - Home



P2Explain how different market research methods have been used to make a marketing decision within a selected situation or businessIn order for a business to find out their customers interests and thoughts about their business, they carry out the appropriate marketing research to ensure that the business has 100% customer satisfaction. In relation to Kellogg’s, they have carried out a number of market research, which has ultimately led them to becoming the leading cereal brand. The company has developed a range of products for the segments within this market, targeted at all age groups over three years old. This includes 39 brands of cereals as well as different types of cereal bars. Consumers of cereal products perceive Kellogg's to be a high quality manufacturer.One of the marketing decisions Kellogg’s made was that they wanted to carry out primary research. They did this because it is a reliable source of information because it is directly from the target market. They prepared questionnaires and street interviews to ask the public about their upcoming cereal brand.As well as this one of their main research methods Kellogg’s used is focus group, which was used to essentially provide them with qualitative research. They were used to show customers the new ideas and concepts that Kellogg’s had recently come up within the form of a number or different food samples, for example, a mini crispy lattice sample and a nutty triangle. The focus groups were beneficial to Kellogg’s because they came out with a mass number of information, which can then be transferred into qualitative data. As well as this, it captured their customer’s opinions towards their trial bars, this is good because it they can go through a process of trial and error to essentially come up with a perfect bar that all of their customers can enjoy. It enables them to gain knowledge of what customers were asking for in terms of a new cereal bar. Furthermore, Kellogg’s also used secondary research, research that has already been obtained by existing businesses. The types of secondary research that they used was journals, books, internet and also government statistics to essentially help them collect a wide range of data which can help them in their marketing research. It is quicker and sometimes a lot less expensive than primary research. The qualitative data that Kellogg’s obtained had definitely helped them because the food specialists were then able to explore the different types of tastes that their audience wanted in much more detail. They carried out primary research, such as experimentation, by gathering groups of people together and sampling each one of them the various prototypes that they came up with; they also used a quantitative survey. Eventually, they came to a decision on which one of the samples was preferred the most by the individuals. This then led to a conclusion on selecting the best one so that Kellogg’s can develop it further if needed.As well as testing out the actual cereal with the focus groups, they also tested the packaging for their Crunchy Nut Bites. Several designs were made to have similar aspects as the previous cereals and were mostly aimed at giving the same look and feeling as the rest of the Crunchy Nut brand. They were sampled by the consumers and gradually came to a final decision on the best packaging for the Nut Bites, this therefore enabled Kellogg’s to select the best wrapping by using this type of research method. Kellogg’s also used field trials prior to launching their new product, the Crunchy Nut Bites, by allowing several consumers to test out the product for several days. This enabled them to summarize how they interact and use the product for the first time, before it is initially released to the public. At the end of these trials, the customers that participated were to complete a report on what their thoughts and responses were about the new product; this was in the form of a questionnaire. This final survey allowed Kellogg’s to measure how likely the public would be on purchasing their product and also on how appealing it was to them. The data that they obtained assisted them to calculate a sales forecast of the product for the first and second year on the market. This was then used by the finance department of Kellogg’s to set budgets, organise a supply chain and to also start scheduling food production. Once the data was thoroughly analysed and customers tested the product prototypes, Kellogg’s were able to make the major strategic decision launch the product to the public. In conclusion, Kellogg’s used various methods of market research throughout the whole development of their new Crunchy Nut Bites product. This is better and more beneficial than their initial idea to the planning of production and delivery. During the previous stages of market research and different methods of carrying them out to the public, the responses that they received helped Kellogg’s to explore and have various insights of their customer’s opinions. Because their products are obviously aimed for the public, they want their concepts on how they want their cereal bars to taste, so this why they aimed all of their methods mostly on the public. This helped them to go back to the drawing board and refine their ideas in more detail to come out with the perfect product that their customers are most likely to purchase. By Simran Khatri ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download