Kellogg 's Case Study : Describe The Purpose Of Market Research?

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Kellogg’s Case Study

Describe the purpose of Market Research?

Market Research Helps to:
• Identify items consumers need to obtain from a particular product.
• Design products which satisfy their consumers.
• Identify what consumers might want in the future, thus making more informed choices to be one step ahead of their competitors.
• Gather information about its potential and current customers, this helps to understand the customer, improve their services and make more informed decisions hence reducing risk.
• Identify the opportunities, to monitor how well the company is doing and understand how marketing works overall.

Explain the difference between primary research and secondary research?

Primary research. This has to be gathered first and to answer certain questions that are related to the project; therefore it is more time consuming and expensive. Primary research is considered to be a reliable source of information as it is coming directly from consumers.

The four main methods of conducting primary research are:
• Survey Research.
• Depth Interviews.
• Observation Techniques.
• Experimental Techniques.

Secondary research.
This is existing research that has been gathered previously either by the firm itself or by other organisations. This type of research is collected quicker and cheaper as it has been already archived. Secondary data is normally found in internal and external sources.

Internal sources:
Consist of data that is found within the company. Such

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