New products from market research
вЂў Market research
вЂў Types of research
вЂў Quantitative and qualitative
вЂў Product development
Kellogg's with a sales value of ВЈ68 million*. In 2003 the Crunchy
Nut brand created a brand extension. This engaged using the The Kellogg Company is the world's leading maker of cereals.
Crunchy Nut name to launch a fresh product referred to as Crunchy Nut
Its products are designed in 18 countries and sold in even more
Clusters. This kind of variant features two kinds, Milk Chocolate Curls and
than 180 countries. For more than 100 years, Kellogg's is a huge
Honey and Nut. Both of them have allowed the brand to get to a
head in health insurance and nutrition through providing customers with a
larger group of customers. This brand extendable is now really worth
wide variety of foods. These are designed to be part of a
ВЈ21 mil in total annual value revenue. *
well balanced diet and meet the distinct tastes of shoppers. Kellogg's targets sustainable growth. This involves continuously looking
This case study concentrates on the importance of market research
to get ways to satisfy consumer requirements by growing the food business
through the development and launch of Crunchy Nut Bites, a more
and expanding its item portfolio.
recent extension for the Crunchy Nut brand. The purpose of this innovation was to offer a new taste and texture for buyers,
Market research is a specific part of marketing that informs
supporting Kellogg's expand its discuss of the breakfast cereals industry.
businesses just like Kellogg's about the things customers need, how *IRI revenue data
far better design items to answer individuals needs and how to
advertise these products to consumers. Market research goes
past finding out what consumers are considering today. It could identify what consumers may want in the future. In this way market research will help a business to generate more knowledgeable choices. This kind of reduces the potential risks for any cool product development (NPD). It also boosts the likelihood that products will be well received by customers when they are introduced.
Kellogg's launched Crunchy Nut Cornflakes in the UK in 1980.
Sustainable progress: Developing the
business to meet the requirements of
consumers today, although respecting the
needs of future years.
New product creation (NPD):
Expression used to describe processes
involved in setting up a new product.
Revenue value: The significance of sales manufactured
over a fixed period of time.
Manufacturer extension: The use of a well
noted brand to launch a new and
Since then, it may be one of the most important brands for
Variant: Substitute for the primary product
presented by the manufacturer of the brand.
Kellogg's | New products by market research
For what reason carry out market research?
Of the a huge selection of products released every year in consumer
products markets, very few reach significant market share. In order
Many organisations are referred to as product directed. This
to reduce risks, researching the market is, therefore , essential.
means they produce a product and then look for a industry to sell to. Kellogg's is usually market directed. This means that the complete
A product file format is a significantly less risky way of increasing market share
organisation concentrates on the requirements of its consumers. It is therefore
by providing customer products with new features underneath an
necessary that it identifies and anticipates changing consumer
existing brand. New product plug-ins give even more choice to
needs prior to development of new items.
consumers and help them to experience more favourably about the
Mar ainsi que orientated
Seeking an industry
f a product
to get the
Building bu iness
Building a business
throughout the needs of