MARKET RESEARCH

Market Research

Executive Summary

This paper aims at analysing the market research conducted by Kellogg's. The company is one of the most successful breakfast cereal companies. The company is conducting market research because it wants to launch a new kind of cereal. As the company is market oriented it has to make sure that the product is according to the needs and wants of the consumers and they also have to make sure that the product matches the consumer's trends. The company has conducted research in four stages which has helped it in launching the product successfully.

Table of Contents

INTRODUCTION4

PURPOSE OF MARKET RESEARCH4

DIFFERENCES BETWEEN QUALITATIVE AND QUANTITATIVE RESEARCH4

KELLOGG'S RESEARCH METHOD5

ANALYSES OF THE FOUR STAGES5

Stage 15

Stage 26

Stage 36

Stage 46

Suggestions6

FINDINGS FROM MARKETING RESEARCH7

Customer Needs, Wants, Expectation or Trends7

Product attributes or characteristics7

Changes in the Marketing / Advertising8

New Kellogg's brands8

Marketing Research Techniques8

CONCLUSION9

Market Research

Introduction

Market Research is very helpful for companies who are looking to launch a product or are entering the market for the first time. Companies that are looking to launch a product will make sure that they conduct a thorough research which will help the company in successfully launching the product. This paper will discuss the case of Kellogg's, a leading cereal manufacturer company. The company has a wide global presence, but even today it is conducting a market research before launching a new type of breakfast cereal. This is the reason the company has been successful (Kumar, Et. al, 2002, pp. 35).

Purpose of Market Research

Kellogg's is a market oriented company which means that the company launches products according to the needs of the market and the consumer trends. For a market oriented company, it is very necessary that market research is carried out because the products are launched according to the consumer needs and trends; therefore, market research is essential.

Differences between Qualitative and Quantitative Research

The difference between the two types of research can be understood better, if the difference is explained according to how research is carried:

Question Design: The qualitative research method will have indirect and open ended questions, whereas, the quantitative research includes structured, direct questions.

Data Collection: Qualitative research will have a small number of respondents, but will be interviewed in detail, whereas, in quantitative studies, includes interviews of various people from questionnaires (Imms and Ereaut, 2002, pp. 20).

Analysis & Interpretation: Qualitative analysis is done while keeping in mind the responses of the majority of the people while quantitative analysis is done on the basis of every response from individuals.

Kellogg's Research Method

Kellogg's requires a research method which includes both, qualitative, as well as, quantitative. The reason behind this is that the company is a market oriented product; therefore, it needs to analyse the consumer trends in depth. It should be able to make sure that the market is researched thoroughly and the market competitors are also studied so that such strategies can be formulated which will help the company in being successful (Crimp and Wright, 1995, pp. 25).

Analyses of the Four Stages

Stage 1

The discovery stage of the research helped the company in determining ...