NEW PRODUCTS FROM MARKET RESEARCH CASE KELLOGG’S
QUESTIONS: 1. Describe the purpose of market research. A market research is a specific and very important part of marketing strategy. It tries to known what are the things that consumer need and how the company has to design and advertise the product to the consumers will buy it when it will be launched. This type of research is used by businesses to increase the likelihood that the products will be well received by consumers when they are launched. In conclusion, the purpose of market research is get important information about market need, market size and competition to get a successful product.
2. Explain the difference between primary research and secondary research. First of all I have to say that this two types of researches are very important when a company want to do a market research. If the company want to do a well-done market research, it has to do primary and secondary researches. The difference between this types of research is that the primary research consist on get information directly from the consumer (obtaining feedback from the consumers) and it tries to know the consumer’s opinion, however the secondary research is information that it has been collected by other organisations.
3. Analyse why an organisation like Kellogg’s would use both qualitative and quantitative data. To beginning with the answer I think that I have to talk about qualitative and quantitative and explain the definitions of these kinds of information. These kinds of information are valuable in understanding what consumers want or need. The difference between these kinds of data is that qualitative data is concerned more about opinions, feelings and attitudes while quantitative data is numerical information and usually it may involve the use of scales. After that explain the objectives of these types of data I can say that an organisation like Kellogg’s would use both types because when it does a market research it...
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