Market Research Analysis | Report

Running Head: MARKET RESEARCH ANALYSIS
Market research analysis
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MARKET RESEARCH ANALYSIS
Market research analysis
Introduction
This paper endeavors to demonstrate the difference between a management decision
problem/challenge and the marketing research problem/challenge. To achieve this, the paper
evaluates a brand product and examines its marketing viability in line with emerging
competitions.
Product overview
The brand product that will be used in this paper is the Ferrero golden gallery advent
calendar produced by Ferrero corporate. Its emergence as the winner of the 2019 best new
product awards in the food and beverage category has informed the choice of the product.
Ferrero golden gallery advent calendar can be described as a refined gallery comprised of
confectionery masterpieces that have been crafted in a masterly manner by Ferrero. To access the
product specification, one can visit https://www.ferrero.com/products/ferrero-pralines/golden-
gallery
Problem definition
The new product has already achieved the market awareness requirement since it has won
itself an award. The product cannot be described as mature since it has only been in the market
for a short time; by it is facing severe price completion from complementary products (Lee,
Dokyun, Hosanagar, Kartik and Harikesh, 2018). The management decision problem is this
research include what would Ferrero do to improve sales. The marketing research question will
focus on the potential of the product market asking whether the market will grow or shrink in the
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MARKET RESEARCH ANALYSIS
future. In terms of relationship, whereas the management decision problem is action oriented and
focuses on symptoms, the marketing research problem is information oriented and focuses on
underlying causes.
Perceptual map of Ferrero pralines
Assignment 2, Part A: Secondary sources
The source of the data to be used in this research will be the past literature. The choice of
the literature will be based on the various factors that affect the marketability of a product.
Additionally, the literature on emerging trends and their impact on the product’s market will be
of great significance (Zhu and Zhang, 2010). Empirical research where a survey will be
conducted will form a critical source of data to the research (Schneider, Matthew and Gupta,
2016)
Assignment 3, part B: Focus group
The main reason for using a focus group is to deliver in-depth qualitative information.
According to Lee, Thomas, Bradlow and Eric (2011), It is used where there is a requirement to
identify and explore processes, behaviors and attitudes. In the research at hand, the primary
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