Market research Essay Example | Topics and Well Written Essays - 2000 words

Market research - Essay Example One of the easier methods of new product development is brand extensions. In 1980, the company launched cornflakes in the UK market. Buoyed by its huge success, it has been regularly expanding this market through the strategy of brand extensions. Crunchy Nut clusters launched in 2003 was followed by Crunchy Nut Bites which hit the market in 2008. All these brands have been hugely successful for Kellogg’s. This paper traces the success story of Kellogg’s. It outlines the importance of marketing research, provides for a critique on the four-stage research process at the company and also presents the salient findings from marketing research undertaken for the Crunchy Nut Bites and the new Coco Pops brand. 2.0 Introduction Kellogg’s is a world leader in the cereal market. With nearly 500 successful brands in its portfolio, it believes in a domineering market presence through the all-important strategy of innovation complemented by marketing clout. Truly, a transnatio nal corporation, it has manufacturing facilities in 18 countries which enables it to cater, far and wide, to over 180 countries, globally. Kellogg’s introduced Crunchy Nut Cornflakes in the UK market in 1980. Over the next two decades, this brand generated huge sales of around ?68 million. In 2003, Crunchy Nut Clusters, a product extension, was launched in two varieties – Milk Chocolate Curls and Honey and Nut. This strategy was highly successful as it enabled Kellogg’s to garner annual revenues of ?21 million. Riding on this success, in 2008, Crunchy Nut Bites, arrived in the market. Achieving a record of nearly ?7 million in its very first year of full sales, the newest launch was also a major hit. The most critical factor in the success of Kellogg’s new product initiative is its elaborate, marketing research. Research is, unfailingly, undertaken for every single step of the way right from idea generation to market commercialization. Primary as well as Secondary research is carried out. Both forms of research, namely, qualitative and quantitative research is given due importance. A unique four-stage approach commencing with discovery and leading onto selection of the best product idea, is followed by transforming the idea into a complete new product and concludes with a forecast of sales for the new product. This comprehensive research framework has stood the company is very good stead, over the years. It enables it to maintain constant interaction with the most important stakeholder of any organization, irrespective of form, nature and size, the consumer. This consumer-marketer interaction and interface enables Kellogg’s to regularly tap the consumer’s pulse and identify their wants and needs. This mode of consumer empowerment translates into strong consumer advocacy of the Kellogg’s brand and goes beyond customer satisfaction leading to consumer delight. Consequently, consumer retention becomes easier and ne w customer attraction is also facilitated through product promotions and other marketing efforts. In days of reduced market research spending (Quelch 2009), its reliance and stress on the need and efficacy of marketing research, has paved the way for a sustained competitive advantage (Porter 1965), for Kellogg’s. 3.0 Contents Innovation refers to creation or introduction of something new. Though innovation and creativity is used synonymously, innovation is greater than

Obesity Essay Example | Topics and Well Written Essays - 1500 words - 1

Obesity - Essay Example The carbohydrate limitations in the diet programme stimulate early loss of weight through reductions in the amount of body fluid and micronutrients. The loss of micronutrients (e.g. calcium), as well as essential antioxidants, is possibly the most risky aspect of the New Atkins Diet. Dr. Atkins himself identified this risk and prescribed mega-supplements, particularly those he produced (Westman et al. 2010, 66). This essay analyses the various aspects of the New Atkins Diet, specifically, (1) the plan, (2) calorific intake, (3) reasons why this plan may be successful or unsuccessful, and (4) whether the plan is safe, nutritionally balanced suitable for steady long-term weight loss. The Plan The New Atkins Diet has four stages, namely, (1) induction, (2) ongoing weight loss, (3) pre-maintenance, and (4) lifetime maintenance (Murray, Pizzorno, & Pizzorno 2006, 10). The first stage is the initial, and most prohibitive. Intake of carbohydrate is restricted to 20 net grams daily, and a hi gh portion of it should be obtained from vegetables (Westman, Phinney, & Volek 2010, 82). The prescribed foods are vegetable oils and butter, low-carb vegetables, hard cheese, eggs, poultry, seafood (e.g. shellfish), and meats. Alcoholic drinks are prohibited throughout this stage. It is advised to take daily multivitamin minerals (Murray et al. 2006, 10-11). Nevertheless, merely monitoring a dieter’s weight is effective. Loss of weight will differ by individual. The second stage, the Ongoing Weight Loss (OWL), involves additional intake of carbohydrate, but only at quantities where loss of weight takes place. The target in OWL is to hit upon the ‘critical carbohydrate level for losing’ (Bowden 2004, 70) and to accurately identify in a regulated manner how high-carb foods influence a dieter’s control over craving. At the early phase of OWL, one should increase daily consumption of induction recommended vegetables. At the later phase of OWL, one should stic k to the carbohydrate structure Dr. Atkins formulated for this stage and include fresh dairy. The structure has nine levels and must be followed sequentially. The levels are like this (MobileReference 2007, 6): Induction acceptable vegetables. Fresh dairy Nuts Berries Alcohol Legumes Other fruits Starchy vegetables Grains In the pre-maintenance stage the intake of carbohydrate is raised once more, and the primary objective in this stage is to uncover the ‘critical carbohydrate level for maintenance, (Atkins 2002, 170)’ which is the highest amount of carbohydrates a dieter can consume daily without adding pounds. The lifetime maintenance stage, which is the last one, is designed to continue the routines attained in the earlier stages, and put off the usual habit of going back to earlier routines and earlier weight (Atkins 2002, 170). Organic, unrefined food consumptions are stressed, with the opportunity to return to a previous stage if one starts to gain weight. Calorif ic Intake Dissimilar from the conventional food pyramid, the New Atkins Diet focuses on foods rich in protein rather than unprocessed grain foods (Insel, Turner, & Ross 2009, 298). Furthermore, this new diet programme does not restrict the quantity of food a dieter consumes. It merely restricts the kind of food a dieter consumes. Moreover, this diet plan is distinct from many other diets in the sense that a dieter does not have to monitor his/her calorific intake. Actually, numerous individuals on Atkins get much