A qualitative market research report based on a specified food product.
This article consists of 13 pages and 1980 words. food product In order to have full access to this article, email us at thedocumentco@hotmail.co.uk
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Table of Contents
The Purchase Behaviour and Marketing Mix for the Product 3
Segmentation, Targeting and Positioning. 4
Consumer Acceptability and Results of the Research. 5
Conclusion and Recommendations. 9
Introduction
The main purpose of this assignment is to apply market research techniques on the new product proposed for the purpose of this assignment. The assignment mainly focuses on the application of marketing mix and quantitative research tools to analyse the market acceptability of the product; the data for quantitative analysis has been collected using the questionnaire.
food product The results of qualitative research i.e. focus group research are also included in this research report. The product proposed is named Coco Pops Choco Bakes which comes under the category of snack bars. In the view of Brennan et al. (2013), there is sufficient demand for snack bars in the United Kingdom and people buy it due to various factors such as convenience, healthier than other options and many others as included in the research questionnaire as well. The focus groups were also carried out to analyse the acceptability of product in the eyes of target consumers. The specific objectives of this research report are as follows:
- To identify the target market for Coco Pops Choco Bakes.
- To design marketing mix and other marketing strategies for the Coco Pops Choco Bakes.
- To analyse the consumer acceptability of the product by analysis of survey and focus group results as carried out for Coco Pops Choco Bakes.
- To recommend the company on how they should launch the product and desired marketing strategies.
The research revolves around achieving these research objectives by means of primary research.
The Purchase Behaviour and Marketing Mix for the Product
In the view of Joo, Young and Cardona (2006), the purchase behaviour for a particular product is highly dependent on whether it is a necessity or luxury, durable or non-durable good; many other criteria are also used to determine the purchasing behaviour. It has been observed that purchase behaviour is more complex when the good is durable and expensive and theprocess is simple when it comes to consumer goods. In this case, the new product to be introduced falls in the category of snack bars and is consumer good so the purchase behaviour is simple and target markets prefer trying new products available in this particular segment. Most of the buyers visit supermarkets to buy the snack bars and related goods.food product
food product According to Yoo, Donthu and Lee (2000), the determination of marketing mix (4Ps of marketing) and its alignment with the target market expectations is highly important for the success of any particular product. The marketing department launching the Coco Pops Choco Bakes has come up with following marketing mix for the product.
- Product: The product is expected to bring different taste than the snack bars available in the market. The quality of Coco Pops Choco Bakes is expected to be premium with decent packaging as shown in the picture below.
- Price: Since the quality is expected to match the premium snack bars in the market, the company is expected to follow the concept of market skimming pricing. The concept refers to setting the price high in the starting period to position the product as a premium product and then bringing down in price slowly (Doyle & Stern, 2006).
- Place: The Coco Pops Choco Bakes is expected to be available in all the big supermarkets in the United Kingdom such as Tesco, Sainsbury, Marks & Spencer and other similar………………………..continued
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