Market Research for Krispy Kreme

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Moreover, some key activities are shown regarding to time in the period from the beginning of 2011 until the end of this year.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Certainity and doubt both play a role in one’s life decision making. Certainty focuses on absolution, allowing one to focus on their path and accomplish what they desire. Doubt, however, focuses changing one’s mindset, allowing anyone or themselves to change their mindset and stray away from their goal. Certainty can lead one to success while doubt can stray one away from their goal because certainty allows one to focus on their goal while doubt allows other people, or themselves, to stray one away from their goal.

Marketing research defined is “the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company” (Kotler & Keller, 2009, p. G6). Juice Guys methodology to obtain

Today people are led by what they think rather than what they know. It is our human nature to fear the unknown and it makes sense that we want to be certain of what's coming to be prepared. Having certainty allows a person to have satisfaction and confidence in what there doing, but if we were certain of everything would we doubt anything? Doubt is an interesting concept because it means one might have doubts on what's certain. Doubt is the key to knowledge, without doubt everything would be certain, if it hasn't been proven wrong that who says it isn't right. Doubt is what enables us to question and challenge the perfection of certainty. A person should have the ability to see the faults and weaks spots in things that seems perfect, they

While forced to live in an unpredictable world, a little “heads-up” may be greatly appreciated when facing daily trials and tribulations. Being warned about upcoming traffic or the difficulty of a final exam can make life a little easier and brace us for an upcoming challenge. People’s actions are based on what they perceive to be the extent of a challenge. If a challenge is said to be easy, depending on the person, they may be more inclined to relax and stress less when compared to being told that the challenge is difficult. Forewarnings help bring a person’s attention to the event being addressed in the warning, while the person’s personal attributes effects the way they react in response to the forewarning.

There always seems to be a debate about the relative values of certainty and doubt. People often misunderstand that they have to choose only one, certainty or doubt, to achieve their goals. Some people believe certainty can help reach their destination, while others think it impossible, and having doubt is an obstacle in their way of achieving their goal. Others think having too much certainty can make people ignorant and close-minded and, a healthy measure of doubt will help them stay on the right path. However, in enlightened people, doubt and certainty coexist. A person with both certainty and doubt can stay on the right path while making the right choices to accomplish what he or she wants.

KRISPY KREME, one of the successful companies in the food-service industry, began as a single doughnut shop in the early 20ths. The rapid expansion of its business scale made the corporation suffer its first economic crisis by the early 1980s. A group of franchisees later took charge of the heavily-debt company bringing new management ideas which helped the KRISPY KREME find way back to the game and become the role model in the industry. KK generated revenues through four primary sources: on-premises retail sales, off-premises sales, product mix and

As Wall Street Journal stated, Krispy Kreme grew too quickly and diluted its cult status by selling its doughnut in too many outlets. They could not anticipate when the demand decreased due to low-carbohydrate diet trend issues. It can be seen clearly that interest expenses also increased for the year ended Feb 2, 2003 to the year ended Feb 1, 2004 as the debt increased.

     Krispy Kreme went from being a wholesale baker to a specialty retailer. They used their marketing skills by stressing the ¡§hot doughnut experience¡¨ that customers knew them by. It was known that by changing the company¡¦s traditions and style as was done when Beatrice Foods took over in the 1970¡¦s that customers do not take a liking to change. Krispy Kreme knows that they always have to look to see what the customers want and appeal to them. Krispy Kreme spends very little on advertising. They rely on word of mouth of their customers, local media publicity, and product giveaways.

The American marketing association: www.marketingpower.com defines market research as: "The systematic gathering , recording, and analysis of data about problems relating to the marketing of goods and services". Consumer analysis is an important part of this marketing research.

Uncertainty avoidance is a dimension that captures a society’s way that they deal with ambiguity. The anxiety of an unknown future can lead to a societal out pour that creates beliefs or institutions to try to avoid this anxiety (Hofstede & Hofstede, 2005). In the Czech Republic, the older generations tend to want to avoid uncertainty and are reluctant to take risks. This can most likely

Marketing research also known as consumer research comprises an element of applied sociological case study which focuses on understanding consumers the behaviors, notions and preferences. This mostly deals with the present and future of consumers in an economy that depends on the market. Marketing research is done by companies to study their customers and other businesses. It seeks to find the best methods of connecting with consumers and a commodity, with the expectations that the customer will buy. This involved assessing the present marketing presently being undertaken for that commodity or similar products created by the same firm.

Marketing Research plays a very significant role in identifying the needs of customers and meeting them in best possible way. The main task of Marketing Research is systematic gathering and analysis of information. It can be defined as "the function that links the consumers, customers, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process,