MARKETING RESEARCH Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    650

Marketing Research Presentation

Introduction

The aim of marketing research by Mars Bars is to help solve the problem of declining sales, increasing competition and impact of the firm on consumer’s lives. This research attempts to investigate the behavior and decisions of consumers which can be achieved through revision of elements of marketing mix. Qualitative and quantitative methods were used to obtain data and relevant information on perceptions and opinions of customers regarding Mars Bars. Specifically, focus groups interview schedules and questionnaires were used because they not only gave direction of the sample frame but also established trends (Smith, 2015). The results of the study indicated the need to establish new packaging, slogan and recipes.

The marketing research enlightenment

To start with, the issue of market research on Mars Bars has provided a connection between theory and practice with regard to problem identification, listing goals, identifying suitable methodologies and posting results. The company realizes that the target market for its products is between 25-20 years and consumes traditional food but still uses about $2.08 billion on advertisement (Smith, 2015). To confirm the target market, I found that it was important to use surveys to analyze raw data and open-ended focus groups to mine data. The benefit of quantitative and qualitative methods was that it allowed for information to be obtained on shopping studies and to analyze the sampling frame through interactions (Overton et al. 2008). I learned that Mars Bars was able to reconfigure the marketing strategy because the analysis provided for statistic-supported trends. Besides being accessible for Mars, the company was able to obtain a solution for its dwindling sales. I realized that the suitable qualitative method was use of focus groups discussion and quantitative measure of open-ended questionnaires. I learned that it was easier to obtain trends and at the same time offer a perspective of the sampling frame. The methods were able to provide the required solutions to the problem by providing indication on packaging, recipe and slogan (Smith, 2015). Specifically, the results favored traditional feel, mature mass market and refined tastes for healthy recipes. I feel that although market research mirrors any other research, it is unique since it requires viable solutions and recommendations that will help turnaround the situation.

Other readings identified

Organizations use marketing research to solve problems relating to declining in sales and profitability as well as to understand the power of suppliers, customers and competitors (Adams & Cox, 2008). Quantitative and qualitative methods are exploited to provide direction on study sample, sampling procedures, and data collection instruments and data analytical measures. A market research of Mars Bars should identify a problem and list objectives or goals to solve the problem or an opportunity (Smith, 2015). The results of the market study should reflect and respond to the goals listed. According to Nasser-McMillan and Borders (2002), focus groups discussions explore the problem area more broadly while questionnaires adopt a structured approach. Similarly, focus groups, surveys and questionnaires in market research improve the understanding of the market and customers (Overton et al. 2008). For example, survey questionnaires can be improved using focus groups because the later has many benefits of gathering qualitative data (Wolf et al. 2005). This implies that both methods were suitable for use in Mars Bars market research.

References

Adams, A. & Cox, A.L. (2008). Questionnaires, in-depth interviews and focus groups. In: Cairns, Paul and Cox, Anna L. eds. Research Methods for Human Computer Interaction. Cambridge, UK: Cambridge University Press, pp. 17–34.

Nasser-McMillan, S.C. & Borders, L.D. (2002). Use of focus groups in survey item development, The Qualitative Report. 7(1): 45-60.

Overton, C., Volkman, C. & Silver-Pacuilla, H. (2008). Understanding consumer needs through market research, Assistive technology outcomes and benefits. 5(1): 4-15.

Smith, L. (2015). Mars Bars. Presentation, University Of Canberra.

Wolf, B., Knodel, J. & Sittitrai, W. (2005). Focus groups and surveys as complementary research methods: A case example. Routledge.