Kellogg’s Case Study
Describe the purpose of Market Research?
Market Research Helps to:
• Identify items consumers need to obtain from a particular product.
• Design products which satisfy their consumers.
• Identify what consumers might want in the future, thus making more informed choices to be one step ahead of their competitors.
• Gather information about its potential and current customers, this helps to understand the customer, improve their services and make more informed decisions hence reducing risk.
• Identify the opportunities, to monitor how well the company is doing and understand how marketing works overall.
Explain the difference between primary research and secondary research?
Primary research. This has to be gathered first and to answer certain questions that are related to the project; therefore it is more time consuming and expensive. Primary research is considered to be a reliable source of information as it is coming directly from consumers.
The four main methods of conducting primary research are:
• Survey Research.
• Depth Interviews.
• Observation Techniques.
• Experimental Techniques.
Secondary research.
This is existing research that has been gathered previously either by the firm itself or by other organisations. This type of research is collected quicker and cheaper as it has been already archived. Secondary data is normally found in internal and external sources.
Internal sources:
Consist of data that is found within the company. Such
Secondary research is done to research the data collection through the study of information which has already being researched from the hospital websites, articles, discharge and intake records or through primary research.
Primary data is when you collect and gather the data first hand in the form of a questionnaire, survey, telephone or interview. This data is specific to the company and did not exist beforehand. Sometimes referred to as field research.
Secondary data using existing data, as related to new data that is being gathered or have been recently gathered. Information already exist on the topics that are being studied. In quantitative approaches, it is this knowledge that assists one with finding the hypothesis to be examined in the new research. It opens the door for the researcher to further explore and generate new questions for the study. This also allows the researcher to find gaps in the research process. Secondary data sources can be acquired via the
Secondary Research is research about information from someone, (like my client), that already exists or produced. I will probably use textbooks and the Internet, for Secondary Research.
| Relate with customers to get their opinion of where the company is going, see trends to see which areas could be expanded.
Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.
Develop an action plan of strategies and tactics to be implemented. Finalize the marketing plan.
Primary data- this data does not exist, it requires the researcher to communicating with people or making observation about people and situation in order to generate the data. Although it is much harder and time consuming compare to secondary data, it is the most valuable resource for the company since it targets the specific problem that the company has.
Primary and secondary sources are ways in which data can be retrieved. As Serakan (2006) stated, “Primary data refer to information obtained by the researcher on the variables of interest for the specific purpose of the study”. Various evidence suggesting to what methods of primary research can be conducted and which are most effective for the previously mentioned problem description are stated in this chapter.
* To have the confidence of the information that should be given to customers, advice them and offer a better customer service.
Secondary marketing research is based on information previously gathered by an individual, the government, and other agencies. “Secondary sources are those sources of information that have been collected previously by other individuals or organizations. Secondary sources of information can help you to identify other sources of information, it can help you to get an overall picture of your market or it may provide more detailed information on a specific segment of the market” (Karen Paiyo). There are also various research tools used when conducting secondary research. Secondary research can be acquired from previous reports, public sources, newspapers, magazines, commercials, educational sources, and websites. Secondary research is often easy to find and generally free. It is much more inexpensive than primary research. An example of secondary research is a general manager, of a professional baseball team, gathering a summation of statistical information (of a player whose contract is expiring) from previous
Secondary data is the data which is already collected by someone. The secondary data was collected from annual reports, company past Records, journals, magazines and company website.
Kellogg is $14.2 billion American multinational food manufacturing organization based in Battle Creek, Michigan, USA. The food manufacturing giant has production units in 18 countries and it markets more than 1,500 products in over 180 countries all over the world. Over the time Kellogg has come out as a successful brand known for its packaged breakfast food items.
They can also measure this through sending out a survey to customers who did not accept the organizations quote. Survey questions can include reasons for the quote being rejected, such as cost, quote turnaround time, and delivery lead time. One of the major advantages of primary data is that it can be “more specific to the problem being studied” (Kerin, R.A., Hartley, S.W., Berkowitz, E.N., and Rudelius, W., 2006) and one of the main disadvantages is the cost associated and time associated with collection. So what is the difference between primary and secondary research?
Secondary research is the process of searching published reports, articles, and books for information other people have collected.