NESTEA Marketing research

June 24, 2018 Marketing

Product Research. Product tests, of course, directly relate to use of the product. Good examples are tasting tests used to pick the most popular flavors. Iii. Brand Analysis. Brand research has similar profiling features (“Who uses this brand? “) and also aims at identifying the reasons for brand loyalty or fickleness. Check for Nestle loyal customers and also check competitive brand. Assess brand share of mind, share of vice & share of heart among other market players. Iv. Psychological Profiling.

Psychological profiling aims at construction profiles of customers by impermanent, lifestyle, income, and other factors and tying such types to consumption patterns and media patronage, what factors drive consumers to purchase ART D tea in EGYPT. V. Scanner Research. Scanner research uses checkout counter scans of transactions to develop patterns for all manner of end uses, including stocking, of course. From a marketing point of view, scans can also help users track the success of coupons and to establish linkages between products. Vi. Database Research.

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Also known as database “mining,” this form of research attempts to exploit all kinds of data on hand on customers-?which recently have other revealing aspects. Purchase records, for example, can reveal the buying habits of different income groups & according to the new segmentation designed by marketing department replacing old segments. 2. Availability: a. There’s already available information related to the current target segment. Whether old or new targeted one b. We need more information regarding our new target segment. C. As mentioned in the previous points.

In addition to the available information, we’ll need to collect more information using Marketing Research tools. 3. Timing: a. Time needed for our Marketing Research will be about 3-4 months axiom. B. The ART D already suffers a failure in being positioned and targeted and we need to put it in the right position as soon as possible. C. Already action plan will take time in execution, so we need to end our Marketing Research as soon as possible to leave time achieving the aimed market share. 4. Resources: a. Regarding the adequate resources needed to get information.

We’ll hire a local Egyptian Marketing Research company that’s already an expert in studying the Egyptian customer & has wide knowledge of Egyptian market and his needs. 5. Cost-Benefit Analysis: a. Marketing Research in this case requires high costs due to the new segmentation strategy adopted. B. But once the product targets the right segment, the potential market will be ready to achieve the projected market share and re-position the RD in the Egyptian Market. C. This’ll cost a lot despite acquires high benefit by putting the brand in the suitable positioning to regain expected sales forecast and achievements.

Marketing Research Utilization: As we know that Instrumental utilizations is the kind of Marketing Research procedure needed in this case as we need a direct and straightforward use of Marketing research to achieve the original and disclosed objectives which are: Problem diagnosis of NOT achieving projected market share while other products sales are increasing. Increasing the Egyptian market penetration as well increasing the market share in RD market. Attract Egyptian customers to NESTED by different positioning and brand image after successful marketing research problem diagnosis and entrepreneurship.

Examples: 1. Product test: We want to set up a stand in the supermarket in order to make tasting to the supermarkets clients. The stand should represent the brand with the color of the company to make the customers familiar with the brand (share of voice/ earth/mind), also before the launch of our product, all the customers at the supermarket will receive a sample of “NESTED” for free at the cashers including a voucher which explains the game to win a trip to PARIS and the customers feedback will be taken into consideration (NEW PRODUCT DEVELOPMENT). . Price sensitivity study: Apply discounts during the launch of the product and their effects on the customers and on the product sales. 3. Promotion effectiveness: Promotional offers during the year: If a client buys a box of 150 bags, he will get a free cup or a spoon. If he buys a box of 250 bags, he will get a free box of tea.

International Marketing Research: The Multinational marketing research is evident in this case, as the company NESTLE (international company) where they have already a form of business entry (progressively evolving into food, beverage, nutrition, health, wellness, and touching lives of people- Nestle has strong brands like Magi, Ensnare, Cereal. It has set up “Cafe Ensnare “and “Coffee Corners” in mini metros) will hire a multinational company to conduct a marketing research: As they are more familiar with the customers habits and traditions.

As well the probability of acceptance of new product iced tea as it’s known in this region Egypt), they like only (the hot tea) and they never hear about the iced tea. Introduction of new concept and how will be accepted. Ethical Marketing Research problems:- Almost all studies on ethics in marketing research have focused on either delineating the responsibilities and obligations of researchers to respondents and clients or exploring whether various groups perceive certain marketing research practices to be ethical or unethical.

Generally marketing activities often pose significant ethical problems in business, the major ethical problems that business people wanted to eliminate: 1) Gifts, gratuities, rib’s, and “call girls,” 2) Price discrimination and unfair pricing, 3) Dishonest advertising, 4) Miscellaneous unfair competitive practices, 5) Cheating customers, unfair credit practices, and overselling.

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