Cadbury chocolates would like to introduce a new slimming chocolate bar onto the Australian market. Which type of research methods would you recommend Cadbury chocolates use? Is primary data or secondary data more important?
The biggest challenge facing existing companies globally is sustaining continued growth and expansion. The two main methods that can be adapted by companies to expand their operations are the introduction of new products in the market or expanding organically by updating on the already existing product. The Cadbury Chocolate Company has decided to use the former method whereby the company wants to introduce a new slimming chocolate bar into the Australian market. The Cadbury Chocolate Company was founded in 1932 and it remains the biggest manufacturer of chocolate in products in the world. The company has other product portfolios and other famous brands like snack, dairy milk range, time out bars, milk tray, crème egg and crunchie. To ensure that the customers become aware of the new slimming chocolate bar that the company is introducing in the market, intensive market research need to be carried out(Stone & Desmond, 2007).
The type of market research methods
Market research is simply the collection and analysis of data to ensure that the customer needs and wants are satisfied. Market research helps in decision-making and reduces the risk the Cadbury Chocolates Company may encounter when introducing the new slimming chocolate bar. Market research is vital in every business because the marketing executive learn about potential customers, potential competitors, consumer wants and consumer needs. Consumers have different tastes and preferences, which determine the needs and wants. Carrying a market research will help the company to establish a target market hence providing a focus for marketing activities. The company will also be able to estimate the correct amount of the new slimming chocolate bar to manufacture and supply in the market. The type of research methods that would be the most appropriate for the Cadbury chocolates to use will be the primary data. Primary data collection method is more focused and effective than the secondary research method. Primary research can be conducted by use of questionnaires, contacting consumers directly and carrying out general market observation (Grbich, 2004). There are various methods that can be used to conduct a primary market research and they are discussed below.
This is the most common method that is associated with market research. The interview can be face-to-face, telephone or over the internet. The advantage of telephone interviews is that it can cover a wide geographical area and it is cheaper than face-to face interviews. On the other hand, face-to-face interviews are conducted between a market researcher and a respondent. Conducting market research using this method ensures that the researcher gets a lot of information. Face-to-face also allows the use of pictures and products that need to be introduced in the market. The Cadbury chocolate company can also use internet whereby individuals who access the company’s website are requested to fill electronic questionnaires (Stone & Desmond, 2007).
In most countries, the most appropriate method to use for the collection of primary data is mail survey. The Cadbury chocolate company can design questionnaires and mail them to a number of respondents. To improve the level of response from the respondents the company may prompt or remind the respective respondents.
A focus group is made up of respondents who are based together in the same room. The market researchers from the Cadbury chocolate company should work with the focus group to gather in depth qualitative feedback. The focus group can be composed of 20 to 30 respondents. Personal opinions, discussion...