www.thetimes100.co.uk

New products from market research

Programs Topics

• Market research

• Types of research

• Quantitative and qualitative

• Product development

Kellogg's with a sales value of ВЈ68 million*. In 2003 the Crunchy

Introduction

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

contrasting product.

GLOSSARY

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.

EDITION

15

www.thetimes100.co.uk

Kellogg's | New products by market research

53

www.thetimes100.co.uk

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

existing brands.

Product directed

Product orientated

Market directed

Mar ainsi que orientated

Observe

Seeking an industry

f a product

to get the

dt

Building bu iness

Building a business

throughout the needs of

around...

Tags:

Discovery of Antibiotics Essay

The Atlantic Computer Circumstance Essay