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Hello, I am looking for someone to write an essay on Market research. It needs to be at least 1750 words.Download file to see previous pages... These techniques are established market techniques to ev
Hello, I am looking for someone to write an essay on Market research. It needs to be at least 1750 words.
Download file to see previous pages...These techniques are established market techniques to evaluate consumer’s interest and trends in current market. However the Kellogg’s style of market research and techniques were not so effective and efficient in impressing people and attracting them towards its brand name. After Crunchy Nut bites, Kellogg experimented enough to improve its research and marketing methods that can bee assessed through Coco Pops product launch. Introduction Kellogg Company, with 2008 sales of nearly $13 billion, is the biggest producer of cereal and convenience foods, including cookies, crackers, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles, and vegetarian foods in the world. The various brands of company include Corn Flakes, Keebler, Pop-Tarts, Eggo, Cheez-It, Nutri-Grain, Rice Krispies, BearNaked, Morningstar Farms, Famous Amos, Special K, All-Bran, Frosted Mini-Wheats, Club and Kashi. Kellogg products are produced in eighteen (18) countries and distributed in more than 180 countries around the world. Section I 1.1: Purpose of Research Marketing Research is defined as “Objective gathering, recording and analyzing of all facts about problems relating to the transfer and sales of goods from producer to consumer or user” by Chartered Institute of Management. Research is always done to eliminate risk from business strategy. Marketing research is done to gather particular information regarding customers, competitors, trends and market practices. Market research is one aspect of marketing research. It covers the activities conduct and information gathered for a particular product. Market research is usually done to launch new products but it is also effective in evaluating potentials of new market for existing products. Market research include activities of demand forecasting, sales forecasting, study of market trends, study of market characteristics and projected share in market. But the focus should be right on what to collect and how to collect otherwise any user or provider of marketing research who loses sight of this central focus is likely to end up in one of two awkward and costly positions: (1) failing to collect the information actually needed to make a decision, or (2) collecting information that is not needed in a given decision making context (Wren, Stevens &. Loudon, 2006). 1.2: Methods of research Quantitative method of market research is data collection specifically for the purpose of market research. It involves experimentation, observation, sampling, consumer panels, trade audits, pre-tests and post tests. Qualitative method of market research is done by internal and external sources and includes questionnaire, interviewing and attitude scales. Market research is conduct in order to increase brand value by identifying consumer’s needs through research methods. Kellogg used quantitative and qualitative methods to understand the interests and desires of consumers.
