...Erik Benjamin Student ID 5255640 MGT 240 Marketing and Sales Assignment 1: Market Research 1. Let’s say you have developed a new, all natural granola style cereal. You want to see the reaction of a range of people to the product, so you decide to set up focus groups to sample the cereal. In one to two pages, describe how you would carry out a focus group review of the cereal. a. How many people would be included in the focus group? A focus group is used to gain feedback and opinions from potential customers. My focus group will consist of a small group no less than six and no more than twelve participants to conduct a taste testing of the natural granola style cereal. By selecting less than six participants could lead to limited conversation and reactions to the product. Selecting twelve participants for the focus group will have more diversity within the group. Also, by selecting twelve participants account for any participants who decide not to show for the focus group. By having a small focus group, it minimizes the chance of losing important thoughts, ideas and reactions to the cereal of the participants. b. How would they be selected? There are many of methods to select participants for sampling. Participants shouldn’t be randomly selected in this focus group because the group should consist of participants that will provide the best information for the sampling of the cereal. Selecting the participants will be based on the purpose of the focus group...
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...STRATEGIC RETAIL PLAN a. Define the Mission To be a leader enterprise in providing different creative rice meals and snacks that are big in size, generous in quantity of flavorings and toppings, healthy and unique, and convenient giving those consumers who don’t tend to pre plan their meals a new meal alternative. b. Conduct External and Internal Analysis • Market factors Internal Factors Our leadership style and the styles of other business management impact organizational culture. The positive or negative nature, level of family-friendliness, effectiveness of communication and value of our employees are cultural implications that result from our leadership approaches. Other business often provides formal structure or direction with mission and vision statements. These will be our forward-looking statements that provide our business for c decisions and activities. The strength of our employees is another crucial internal business factor. Motivated, hard-working and talented workers generally produce better results than unmotivated, less-talented employees. Our business processes and relationships within and between departments and employees also significantly impact business effectiveness and efficiency. External Factors This include socio-economic factors relate to the values, attitudes and concerns of our target customers and their economic abilities to afford our products. The legal, ethical and political environments generally relate to our need to abide by...
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...ASSIGNMENT CONSUMER BEHAVIOUR Submitted to: Submitted by: Mr. Harsh Verma Pankaj Gupta Varun Sehgal Swati Mehta Why Kinetic-Honda Company failed? 1.) Kinetic seemed to miss the pulse of the market, which was fast moving towards motorcycles. Kinetic had no motorcycles to offer - mainly due to the Honda joint venture stipulations. 2.) Miscalculated the purchasing power of the Indian Middle class due to this they couldn’t grow. 3.) Financial Position of the company - operating margin was the lowest in the industry because of the high import content of raw materials. 4.) Issues between Kinetic and Honda over - introduction of new models, advertising expenditure, marketing strategies, etc. As a result, the company suffered in terms of growth and profitability. 5.) Kinetic as an Umbrella brand not being as promoted - Consumers associated the name Kinetic with scooters and 'Luna' with mopeds, but did not see them as belonging to the same business house. 6.) Less Advertising Expenditure on newspaper and television of introducing a new product. 7.) The cost of making the Kinetic scooter was higher than the cost of manufacturing a motorcycle, the selling price of the latter was Rs 10,000 more. What can be done to increase the sales 1.) Promotion of Kinetic brand on both Television and Newspaper ad campaign. 2.) Public awareness camp and scooter service campaign about the...
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...to Coke Brand Identification on Taste Perception (JC, LK, SS, ND) 1. Abstract Short abstract, which describes the core of your study and main findings. 1. Introduction Here you describe why your study is interesting/ important; your problem statement and research question. 1. Theory Theory This study aims at affirming that the taste perception of the participants will be highly influenced on whether they are exposed directly to the brand-label, are only aware of the brand or blindly tested. A previous study about the “ Influence of Beer Brand Identification on Taste Perception” proved that in a blind taste, beer drinkers “could not distinguish the taste difference among the brands on an overall basis” (Allison&Uhl, 1964, p.37), moreover did the study conducted by Allison and Uhl highlight that beer drinkers were not able to identify their favorite brand of beer in a blind beer comparison test. Another study conducted by Plassmann, O’Doherty, Shiv and Rangel about how “ Marketing actions can modulate neural representations of experienced pleasantness” also identified that when participants are not presented with any particular information about the wines they had to taste in their blind test, participants were not able to report any major “differences among the wines”. (Plassmann et. All., 2007, p. 1051) Based on these findings the first hypothesis of the study is (1) Participants tested in the blind test will taste no major difference among the...
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...manipulating the consumer perception through advertising and other marketing techniques, the product can increase market share. Our experiment measures the effects marketing and taste on brand preference and perception of our subjects in regards to various brands of pure milk chocolate. Chocolate has become a staple in the childhood of young Americans. For as long as children can choose what they eat, chocolates and sweets have been the favorable options. Therefore, brand preferences have been chosen years ago and brand loyalty has been established at an early age. We have put this brand loyalty to the test by offering a blind chocolate-tasting experiment. By conducting this blind taste-test, our subjects will choose their favorite chocolates based purely on taste, eliminating the marketer-driven factors such as advertising and brand value. The subjects will have no knowledge of which chocolate they’re taste, resulting in an even playing field for the different brands. Without the factors of advertising, brand value and other marketer-driven variables, chocolate preference can truly be chosen based on taste alone. This experiment will help us determine the effects of these factors by comparing the preferences of taste with prior brand preferences. Our hypothesis of this blind taste-test was developed through our evaluation of marketer-driven factors. We believe the chocolate-tasting experiment will result in a discrepancy between the subjects’ favorite brand of chocolate...
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...the beginning * In late 1950’s coke outsold Pepsi by a ratio of more than 5 to 1 * But there was an unexpected turn in mid-1970’s when Pepsi conducted a blind test and majority of consumer’s liked the sweeter taste of Pepsi over Coke and began communicating this message through their “Pepsi Challenge” campaign and launched their ad campaign. This lead to slow and steady decline of coke in soft drink category. * But Coke’s market share was same and Pepsi was growing(in terms of new customers) but Pepsi had a better distribution channel and more vending machines * In 1980,Coke wanted to retain their market share and there was a risk of Pepsi growing very fast. So management in order to respond to Pepsi’s campaign began researching about Coke’s new formula. * Having produced its new formula, Coke conducted 200000 blind taste tests to see how it fared and the results they got were very good. The respondents not only liked the new taste of Coke but they preferred new coke over Pepsi. * So coke decided to scrap its old coke and decided to launch new coke in the market. But after a few days, sales of new coke was low and there was public outrage that original coke was not available. Potential reasons for failure * Coke just concentrated their efforts on competing with Pepsi on improving the taste and competing with the “Pepsi challenge” but they forgot there could be other reasons why they were shifting towards Pepsi. Consumers may be buying Coke due to...
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...important to understand the right way to conduct research (KnowThis,2013). Coca-Cola is the world most recognized brand. There are intense competition between Coca-Cola and Pepsi. Coke has always been ahead until Pepsi repositioned itself as youth brand and successfully catch-up to Coke. In 1970, Pepsi introducing Pepsi Challenge, where they blind testing customer to see if they preferred Pepsi or Coke taste. Surprisingly, customer preferred Pepsi formula rather than Coke. Coke then started working on new formula and conducted 200,000 blind taste test to see how it fared. The result is people preferred the “new coke” rather than the original taste. Based on this research, Coke decided to throw away the original coke and introduced the new coke on its place. The new coke was launched to the market but people started to boycott the product. Sales of the new coke were low and people are angry because the original coke is not available anymore. Coke then had no choice to bring the original coke back. Coke’s marketing research fail to recognize the emotional attachment to the original coke because the test that had been carried only assesses taste preference. This story shows us the importance of selecting the best data collection method best...
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...Fall/Winter 2013 13BMKT17H | Marketing Research | 13BMKT17H | Marketing Research | Module Leaders: Dr Aida Nakhla Ms Ahella El Saban Module Leaders: Dr Aida Nakhla Ms Ahella El Saban Table of Contents Introduction……………………………………………………………………… Section 1: Problem Recognition………………………………………….. 1.1-Problem Recognition…………………………………………………………… 1.2- New Coke Problem Recognition……………………………….……….. 1.3- Critical Analysis on New Coke…………………………………………… Section 2: Know the Approach……………………………………………….. 2.1- Research Approach…………………………………………………………… 2.2-New Coke Research Approach…………………………………………… 2.3- Critical Analysis on New Coke…………………………………………… Section 3: Research Design and Formulation………………………….. 3.1- Research Design and Formulation……………………………………... 3.2- New Coke Research Design………………………….………………….... 3.3- Critical Analysis on New Coke…………………………………………….. Section 4: Data Collection………………………………………………………. 4.1- Data Collection…….……………………………………………………………. 4.2- New Coke Data Collection..……………………………………………….. 4.3- Critical Analysis on New Coke…………………………………………….. Section 5: Analysis of Data……………………….………………………………. 5.1- Analysis of Data………………………………………………………………… 5.2- New Coke Analysis of Data………………..………………………………….. 5.3- Critical Analysis on New Coke………….…………………………………….. Bibliography………………………….………………………………………..……. Introduction The birth of Coca Cola all started out in 1889, when original founder of the formula John Pemberton had developed the...
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...This research aims to analyze and evaluate the perception that each of the 3 strongest Juice brands carry – Shezan All Pure, Fruitien and Nestlé Fruita Vitals. A survey was conducted of a 100 respondents in Islamabad to assess the Perceived and Actual Value of the said brands. The methodology and the findings are elaborated in this research paper. Consumer Brand Perception A comparative study of consumer Brand Perception of Shezan All Pure, Fruitien, Nestlé Fruita Vitals BBA – 2k11 – B Abeera Ahmad – 91 0|Page Mohammad Ibrahim Khan – 19 Zain Ul Abideen – 45 Contents 1. Acknowledgements .................................................................................................. 3 2. Executive Summary ................................................................................................. 4 3. Introduction............................................................................................................. 5 I. Shezan International Limited: ............................................................................. 6 II. CitroPak Limited ............................................................................................... 8 III. Nestlé Pakistan Ltd ......................................................................................... 10 4. Literature Review ..........................................................................
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...Coca-Cola announced its decision to change the almost century-old recipe -- and the flavor -- of the company's flagship brand product; the old Coke would be taken off the shelves and replaced by the new Coke. Within six weeks, however, widespread consumer protest was making the news, and by July of that year, the company reversed itself and kept the old Coke in production and sales. Within five years, sales of the new Coke were infinitesimal, and was it eventually dropped? This decision was later called the "marketing blunder of the decade". How could a company known for its marketing savvy have so misread the market and made such a bad decision? At that time, consumer researchers with Pepsi were discovering that, in blind taste tests, a majority of consumers preferred the taste of Pepsi to that of...
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...Taste Test: Part I Following our survey findings that KOI was rated as the best tasting bubble tea among its competitors, we set out to test whether the taste perception of consumers were influenced by brand. In order to do so, we conducted a blind taste test. For our taste test, we used 3 brands of bubble tea which is KOI, Gong Cha and Each-a-Cup as they were associated together most of the times. Our test object was Milk Tea with Pearls as it was the most popular drink for all the three brands. We intended to use the random sampling method to select our experiment subjects from the general public; however, circumstances do not allow us to conduct the taste test in public or to arrange for the members of the public to congregate in an enclosed setting. Thus, our subjects were chosen from the SMU student population. We mitigated the sampling bias by picking students from diverse races and ages while keeping a balance between gender sizes. We used a within-subjects design as there were only 33 subjects. Lastly, the subjects were given a sip of water after each tasting to mitigate the influence of the taste of one drink over the other through quick, repeated tasting. During the test, subjects were not informed of the individual brands of bubble tea. Three cups (labeled A, B and C) of Milk Tea with Pearls were served to each subject. The order of the cups presented to them were randomly arranged to prevent any order bias. Ample time was given to the subjects to taste the bubble...
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................................................. 6 SWOT ANALYSIS OF FROOTI......................................................................................................... 7 COMPETITION ............................................................................................................................8 CHANNEL....................................................................................................................................10 CONSUMER ................................................................................................................................11 PILOT STUDY ............................................................................................................................. 11 BLIND TEST ............................................................................................................................... 12 CONSUMER SURVEY...
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... * However Coca-Cola is seen not only as a beverage but also as a brand. It has a very significant market share for a long time and loyal customers are not very likely to try a new brand beverage. Threat of Substitute Products: Median to high pressure * There are many kinds of energy drink and soda products in the market. Coca-cola doesn’t really have a special flavor. In a blind taste test, people couldn’t tell the difference between Coca-Cola coke and Pepsi coke. The Bargaining Power of Buyers: Low pressure * The individual buyer has little to no pressure on Coca-Cola * The main competitor, Pepsi is priced almost the same as Coca-Cola. * Consumer could buy those new and less popular beverages with lower price but the flavor is different and the quality is not guaranteed. * Large retailers, like Wal-Mart, have bargaining power because of the large order quantity, but the bargaining power is lessened because of the end consumer brand loyalty. * There are many kinds of energy drink and soda products in the market. Coca-cola doesn’t really have a special flavor. In a blind taste test, people couldn’t tell the difference between Coca-Cola coke and Pepsi coke. * People are getting concerns of negative effects of carbonated beverages. Increasing number of consumers begin to drink fruit juice, lemonade and tea instead of soda products. The Bargaining Power of Suppliers: Low pressure * The main ingredients for soft drink include carbonated water, phosphoric...
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...marketing campaign, targeted the young and “young at heart”, this action helped Pepsi narrow Coke’s lead to a 2-to-1 margin. In 1960s, Coke focused on overseas markets, Pepsi battled Coke aggressively in U.S. doubled its U.S. share between 1950 to 1970. b. The Pepsi challenge. In 1974, Pepsi launched the “Pepsi Challenge”, in blind taste tests, Pepsi tried to demonstrate that consumers prefer Pepsi to Coke, they prefer sweet one. Successfully eroded Coke’s market share.(video) c. Coke’s New coke test. Coke found that consumers prefer New Coke than Pepsi. In April 1985, Coke announced that it had changed the 99-year-old Coca-Cola formula. The product and the brand had a declining share in a shrinking segment of the market. The reformulation prompted an outcry from Coke’s most loyal customers, and bottlers joined the clamor. Three months later, the company brought back the original formula under the name Coca-Cola Classic, while retaining the new formula as its flagship brand under the name New Coke. Six months later, Coke announced that it would treat Coca-Cola Classic as its flagship brand. a. Failure in taste tests. Coke put more attention on New Coke’s taste, ignore other factors, like brand image and customer loyalty. b. Ignore brand core value. Coca-Cola Classic represents American culture, it means American value, it contains people’s emotion and memory. c. Ignore the cost of consumer psychology switching, just consider the cost of economic...
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...and Pepsi-Cola. First, there will be a discussion on how each corporate culture differs from the other. Second, I will then analyze three ways that each unique culture has benefited by the other’s competition. Finally, I will hypothesize how each would continue to thrive if its current corporate culture would need to change in the near future. Determine how each corporate culture differs from the other: The people’s two favorite soft drinks have always been Coke or Pepsi for many years. There are a few culture similarities between Coke and Pepsi. They both were aimed to serve as a recreational drink associated with social gathering, entertaining, or just an individual preferred drink. They both have the same color and have a similar taste. The culture difference between the two is their history in advertising their brand to develop a distinct...
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