Secondary research for a consumer food product
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Secondary Research for A Consumer Food Product. AGB 405 Agribusiness Marketing Research Dr. Marianne McGarry Wolf Group Secondary Research Due: Week 3 Presentation: Oral and bound hard copy Grading: 15% of Final Grade, peer review, 100 point scale.

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Secondary Research for A Consumer Food Product

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Secondary research for a consumer food product

Secondary Research for A Consumer Food Product

AGB 405 Agribusiness Marketing Research

Dr. Marianne McGarry Wolf

Group Secondary Research

Due: Week 3

Presentation: Oral and bound hard copy

Grading: 15% of Final Grade, peer review, 100 point scale


Secondary research for a consumer food product1

Secondary Research for A Consumer Food Product


Secondary research for a consumer food product2

Secondary Research for A Consumer Food Product

  • Secondary data is data which was collected for some project other than the one at hand.

  • While primary data is data which was collected for the project at hand.


Secondary research for a consumer food product3

Secondary Research for A Consumer Food Product

  • One use for secondary data is to provide information about a product category for a situation analysis


Situation analysis for a consumer food category

Situation Analysis for A Consumer Food Category

  • A situation analysis is used to describe the market climate in a product category, such as

    • Dairy

    • Wine

    • Beer

    • Soft Drinks

    • Produce

    • Beef

    • Pork

    • Produce

    • Poultry


Situation analysis for a consumer food category1

Situation Analysis for A Consumer Food Category

  • Category trends in a category

    • Price

    • Place

    • Promotion

    • Product

  • Consumer Demographics


Situation analysis for a new consumer food product

Situation Analysis for A NewConsumer Food Product

  • Use the situation analysis to identify a new product possibility for an existing brand in a food product category

  • A new product can be a

    • A new flavor

    • A new form

    • A new package

    • An innovation


Product

Product

  • Identify the brands in the category using

    • Encyclopedia of American Industries (Ref HC 102.E53.1998)

    • Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com)

    • Market Share Reporter (Ref HF5410 .M33 and Lexis-Nexis on Library Home page)

    • Web search

    • Other sources


Product sales trends

Product Sales Trends

  • Examine trends over time in the product category by using Lexis-Nexis on Library Home page)

    • Web search

    • Other sources


Price

Price

  • Use the same sources used to examine product

  • And, examine brand pricing by visiting at least six local outlets.

    • Create a spread sheet for the product category which shows the price of each brand in each outlet.

    • Calculate the average price for each brand across all outlets.


Promotion

Promotion

  • Consumer advertising expenditures by media type

  • Consumer promotion through the use of sampling,couponing, special events

  • Public relations

  • Promotion to retail buyer


Promotion sources

PromotionSources

  • Advertising Age (HF5801 .A276 (Per))

  • Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com)

  • Web search

  • Lexis-Nexis, and other sources


Place distribution

PlaceDistribution

  • Examine retail outlet segment of the market

  • Choose one of the top 20 markets listed in Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)


Retail market

Retail Market

  • Describe retail segment of the market

    • Food store sales

    • Food stores

    • Total supermarkets

  • Describe all consumer demographics in market using Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)


Retail market economy

Retail Market Economy

  • Describe economy and business conditions in market area chosen for test market

  • Use

    • Markets of the U.S. for Business Planners (Ref HC 106.8.m333

    • Chamber of Commerce Home Page information

    • Lexis Nexis sources


Consumer profile in category

Consumer Profile in Category

  • Describe consumer demographics for the typical category consumer based on Simmons Study of Media and Markets (HF5415.2 .S554 (Ref)).

  • Examine

    • Age

    • Education

    • Income

    • Race

    • Employment

    • Gender


Consumer comparison

Consumer Comparison

  • Compare the demographics of the test market to the demographics of the typical category consumer

  • Examine

    • Age

    • Education

    • Income

    • Race

    • Employment

    • Gender


Summary and conclusions

Summary and Conclusions

  • Summarize key findings

  • Describe anticipated trends of the Future in the category

  • Describe why the new product is anticipated to be a success based on the situation analysis


Secondary research for a consumer food product

Next!

Primary Research to evaluate new product idea!


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