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

Secondary Research for A Consumer Food Product

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.

Secondary Research for A Consumer Food Product

• One use for secondary data is to provide information about a product category for a situation analysis

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

Situation Analysis for A Consumer Food Category

• Category trends in a category•Price•Place•Promotion•Product

•Consumer Demographics

Situation Analysis for A New Consumer 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

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

Product Sales Trends• Examine trends over time in the product category by using Lexis-Nexis on Library Home page)

•Web search•Other sources

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.

Promotion

• Consumer promotion through the use of sampling,couponing, special events• Public relations• Promotion to retail buyer

• Consumer advertising expenditures by media type

PromotionSources

• Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com)• Web search

• Lexis-Nexis, and other sources

•Advertising Age (HF5801 .A276 (Per))

PlaceDistribution

•Choose one of the top 20 markets listed in Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

•Examine retail outlet segment of the market

Retail Market

•Describe all consumer demographics in market using Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

•Describe retail segment of the market•Food store sales•Food stores•Total supermarkets

Retail Market Economy

•Use •Markets of the U.S. for Business Planners (Ref HC 106.8.m333•Chamber of Commerce Home Page information•Lexis Nexis sources

•Describe economy and business conditions in market area chosen for test market

Consumer Profile in Category

•Examine •Age•Education•Income•Race•Employment•Gender

•Describe consumer demographics for the typical category consumer based on Simmons Study of Media and Markets (HF5415.2 .S554 (Ref)).

Consumer Comparison

•Examine •Age•Education•Income•Race•Employment•Gender

•Compare the demographics of the test market to the demographics of the typical category consumer

Summary and Conclusions

• Summarize key findingsSummarize key findings

• Describe anticipated trends of the Future Describe anticipated trends of the Future in the categoryin the category

• Describe why the new product is Describe why the new product is anticipated to be a success based on the anticipated to be a success based on the situation analysissituation analysis

Next!

Primary Research to evaluate new product idea!