Secondary Research for A Consumer Food Product

1. 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

2. Secondary Research for A Consumer Food Product

3. 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.

4. Secondary Research for A Consumer Food Product • One use for secondary data is to provide information about a product category for a situation analysis

5. 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

6. Situation Analysis for A Consumer Food Category • Category trends in a category • Price • Place • Promotion • Product • Consumer Demographics

7. Situation Analysis for A NewConsumer 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

8. 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

9. Product Sales Trends • Examine trends over time in the product category by using Lexis-Nexis on Library Home page) • Web search • Other sources

10. 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.

11. Promotion • Consumer advertising expenditures by media type • Consumer promotion through the use of sampling,couponing, special events • Public relations • Promotion to retail buyer

12. PromotionSources • Advertising Age (HF5801 .A276 (Per)) • Hoover’s Handbook of American Business (Ref HF5030.H661997 and www.hovers.com) • Web search • Lexis-Nexis, and other sources

13. PlaceDistribution • Examine retail outlet segment of the market • Choose one of the top 20 markets listed in Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

14. Retail Market • Describe retail segment of the market • Food store sales • Food stores • Total supermarkets • Describe all consumer demographics in market using Trade Dimensions 1998 Marketing Guidebook (Ref HD 9321.3.975 1998)

15. Retail Market Economy • Describe economy and business conditions in market area chosen for test market • Use • Markets of the U.S. for Business Planners (Ref HC 106.8.m333 • Chamber of Commerce Home Page information • Lexis Nexis sources

16. Consumer Profile in Category • Describe consumer demographics for the typical category consumer based on Simmons Study of Media and Markets (HF5415.2 .S554 (Ref)). • Examine • Age • Education • Income • Race • Employment • Gender

17. Consumer Comparison • Compare the demographics of the test market to the demographics of the typical category consumer • Examine • Age • Education • Income • Race • Employment • Gender

18. Summary and Conclusions • Summarize key findings • Describe anticipated trends of the Future in the category • Describe why the new product is anticipated to be a success based on the situation analysis

19. Next! Primary Research to evaluate new product idea!