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Secondary Research for A Consumer Food Product

Secondary Research for A Consumer Food Product. AGB 405 Agribusiness Marketing Research Dr. Marianne McGarry Wolf Group Secondary Research Due: Week 3 Presentation: Oral and bound hard copy Grading: 15% of Final Grade, peer review, 100 point scale.

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Secondary Research for A Consumer Food Product

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  1. Secondary Research for A Consumer Food Product AGB 405 Agribusiness Marketing Research Dr. Marianne McGarry Wolf Group Secondary Research Due: Week 3 Presentation: Oral and bound hard copy Grading: 15% of Final Grade, peer review, 100 point scale

  2. Secondary Research for A Consumer Food Product

  3. Secondary Research for A Consumer Food Product • Secondary data is data which was collected for some project other than the one at hand. • While primary data is data which was collected for the project at hand.

  4. Secondary Research for A Consumer Food Product • One use for secondary data is to provide information about a product category for a situation analysis

  5. Situation Analysis for A Consumer Food Category • A situation analysis is used to describe the market climate in a product category, such as • Dairy • Wine • Beer • Soft Drinks • Produce • Beef • Pork • Produce • Poultry

  6. Situation Analysis for A Consumer Food Category • Category trends in a category • Price • Place • Promotion • Product • Consumer Demographics

  7. Situation Analysis for A NewConsumer Food Product • Use the situation analysis to identify a new product possibility for an existing brand in a food product category • A new product can be a • A new flavor • A new form • A new package • An innovation

  8. Product • Identify the brands in the category using • Encyclopedia of American Industries (Ref HC 102.E53.1998) • Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com) • Market Share Reporter (Ref HF5410 .M33 and Lexis-Nexis on Library Home page) • Web search • Other sources

  9. Product Sales Trends • Examine trends over time in the product category by using Lexis-Nexis on Library Home page) • Web search • Other sources

  10. Price • Use the same sources used to examine product • And, examine brand pricing by visiting at least six local outlets. • Create a spread sheet for the product category which shows the price of each brand in each outlet. • Calculate the average price for each brand across all outlets.

  11. Promotion • Consumer advertising expenditures by media type • Consumer promotion through the use of sampling,couponing, special events • Public relations • Promotion to retail buyer

  12. PromotionSources • Advertising Age (HF5801 .A276 (Per)) • Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com) • Web search • Lexis-Nexis, and other sources

  13. PlaceDistribution • Examine retail outlet segment of the market • Choose one of the top 20 markets listed in Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

  14. Retail Market • Describe retail segment of the market • Food store sales • Food stores • Total supermarkets • Describe all consumer demographics in market using Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

  15. Retail Market Economy • Describe economy and business conditions in market area chosen for test market • Use • Markets of the U.S. for Business Planners (Ref HC 106.8.m333 • Chamber of Commerce Home Page information • Lexis Nexis sources

  16. Consumer Profile in Category • Describe consumer demographics for the typical category consumer based on Simmons Study of Media and Markets (HF5415.2 .S554 (Ref)). • Examine • Age • Education • Income • Race • Employment • Gender

  17. Consumer Comparison • Compare the demographics of the test market to the demographics of the typical category consumer • Examine • Age • Education • Income • Race • Employment • Gender

  18. Summary and Conclusions • Summarize key findings • Describe anticipated trends of the Future in the category • Describe why the new product is anticipated to be a success based on the situation analysis

  19. Next! Primary Research to evaluate new product idea!

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