Introduction: This report outlines and analyses the consumer decision process encountered when purchasing biscuits in relation to primary market research completed targeting one particular demographic of the possible market. The purpose of market research is to ensure that a businesses focus is on producing a product that meets the needs and wants of consumers, therefore it is essential to identify a potential target market and create a product that is able to be successful at all stages of the consumer decision cycle (Armstrong, Adam, Denize, Kotler, 2010, pp. 74-146). The report will explore the effects within the biscuit industry of various external factors influencing their products. Political and legal regulations, socio-cultural trends, economic shifts and the natural environment all impact a consumer’s decision making process and in turn the necessary actions of the businesses. Additionally, there are various demographic, geographic, behavioural and psychographic traits and trends of the target market that are inextricably linked to the circumstances within a marketplace and are analysed (Armstrong, Adam, Denize, Kotler, 2010, pp. 74-146). In order to assess the traits of a potential target market and the various trends and influences of the biscuit industry an interview with a member of one of the potential target markets will be analysed to identify the problems found within the market, motivations behind biscuit buying and the general wants and needs of this target market. This report focuses on primary research in the form of an interview that aims at discovering the specific issues and decisions made by individuals at each step of the consumer decision making process. The interview focuses on current trends within ... ... middle of paper ... ...oup of consumers. Through assessing the needs and wants of a major group of consumers, generation X, the biscuit company would be able to further their research and more specifically identify the niche they are required to fill. Due to the general motivations of generation X in buying biscuits as being consistent, fresh and reliable with a strong brand name and reputation, but not necessarily being the cheap alternative there is room for a new business to focus on these ideals and create a successful biscuit catering to their needs. Reference List: Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest Eric H. Shaw, 2012, ‘Marketing strategy: From the origin of the concept to the development of a conceptual framework’, Journal of Historical Research in Marketing, Vol. 4, No. 1, pp. 30-55
Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing research (9th ed.). Hoboken, NJ: John Wiley & Sons.
Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing Research (9th ed.). Hoboken, JN:
Once the target audience had been established, a benchmark survey was then conducted. It showed that only 30% of influencers agreed that healthy snacks were offered by Frito-Lay and that less than one third of influencers knew that Frito-Lay products w...
According to Irmak, C., Block, L. G., & Fitzsimons, G. J Journal of Marketing Research, published in (2005), XLII (November)
of Philip Morris, said “People could point to these things and say, ‘They’ve got too much sugar, they’ve got too much salt […] well, that’s what the consumer wants, and we’re not putting a gun to their head to eat it. That’s what they want.” (Moss 267) However, consumers are being unconsciously forced to fund food industries that produce junk food. Companies devote much of their time and effort into manipulating us to purchase their products. For instance, Kraft’s first Lunchables campaign aimed for an audience of mothers who had far too much to do to make time to put together their own lunch for their kids. Then, they steered their advertisements to target an even more vulnerable pool of people; kids. This reeled in even more consumers because it allowed kids to be in control of what they wanted to eat, as Bob Eckert, the C.E.O. of Kraft in 1999, said, “Lunchables aren’t about lunch. It’s about kids being able to put together what they want to eat, anytime, anywhere” (Moss 268). While parents are innocently purchasing Lunchables to save time or to satisfy the wishes of their children, companies are formulating more deceiving marketing plans, further studying the psychology of customers, and conducting an excessive quantity of charts and graphs to produce a new and addictive
Market research and information about the industry is very important to the organization because it will allow the organization to position itself well in terms of sourcing chocolate raw materials and in identifying the market for its products. For example, understanding that some chocolate product purchases are seasonal, e.g., at Christmas; around Mother’s Day; and, on Valentine’s Day, allows the organization to have more product on hand and to create displays, in store, that will increase purchases and attract more customers when existing customers tell their friends about the availability of high end products, at reasonable prices, in their store.
Although United Cereal’s products are diversified into many different types of foods and beverages, its main source of revenue remains the breakfast cereals market. The real challenge of this market is clearly seen in the European market, where the national tastes and breakfast traditions vary between countries. As a result, its approach in Europe is more complex than in the United States, which causes higher costs and slower processes.
By changing the photos with lighting devices, picture editing, food staging for exaggeration, and celebrity endorsements, the food industry has been able to expand economically with their misrepresentations of the breakfast food. Consumers need to be more aware of what they are buying, and not just for the appearance of the box. Therefore, shoppers should do their research on a product before falling for the food business
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Marketing is not just about selling and advertising products and services. In general, marketing is associated with identifying the particular wants and needs of a target market of customers, and then working to satisfy those customers better than the competition. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution or place (Bethel, 2007). Understanding ways to identify the target market is crucial in developing market strategy. This paper is intended to define target marketing and examine a market analysis of Stacy's Pita Chip Company.
Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub..
The principal to any successful marketing strategy is to understand the customer and their needs. The ability to satisfy customers' needs better than the competitors, will first be, as PepsiCo builds customer loyalty and increases sales (Business Link, 2007). Marketing research uses many methods to obtain results. PepsiCo will use external census data and marketing survey data collected by outside marketing research firms, as a method of understanding customer wants and needs. Computer-aided methodologies will also be used to collect data on the competitors of PepsiCo, such as Coca Cola, Jones Soda, and Mott’s Company.... ...
The McDonald’s Corporation case study take a comprehensive look into the competitive market of the fast food industry. Particularly, McDonald’s and some of it greatest fast food competitors. In this analysis I will be revealing the marketing strategies of McDonald’s and other fast food companies. Identifying the trending tastes of consumers in this market, tactics used by McDonald’s competitors such as Wendy’s and Burger King to one up the marketing strategies of McDonald’s. I’ll also be assessing the strength, weaknesses, opportunities and threats of McDonald’s in this market segment. Evaluating the consumer purchase decision process and purchase type in the food industry. Lastly, I’ll explore which growth strategies I believe would make the
What do the statistics reveal about the product? This reveals that the market for the two products is present, and combining them will result in a profitable business. This paper is a report on targeting and segmenting the new liquor-filled chocolates as a potential business. To begin with, it is crucial to appreciate the meaning of segmentation and targeting, because these two terms lay the foundation for this report. Consequently, segmentation is dividing a market, into groups of consumers with homogenous traits in order to provide each group with the desired product.
Every company wants to understand why people decide to buy its products or others. Firstly, we have to understand why people buy certain kind of product. People buy products because they need them. A need is activated and felt when there is a sufficient discrepancy between a desired or preferred state of being and the actual state. (Engle£¬Blackwell and Miniard. 1995. p407 ) For example, when you feel hungry, what you needs is some food. It is very important for marketer to understand the needs of consumers. All the consumers may have the same needs, but the ways which they satisfy what they need are different. Here is a example, Chinese people would choose rice when they feel hungry, whilst British people may choose bread to satisfy their needs.