preview

Essay on Simulation Title: Market Research

Decent Essays
Open Document

SIMULATION DESCRIPTION: As the manager of TriState Dairies market research department, you need to determine what to do with the Dairies' surplus milk. You earned 69 percent. Background TriState Dairies is a food processor that packages and sells dairy products. At present their core business is selling 1) pasteurized, skimmed, and plain milk, and 2) yogurts and yogurt drinks. They want to expand their market, particularly for milk. They can easily convert surplus milk production to the production of flavored milks. At the moment the flavored milks sales overall are low and the market small. The bulk of flavored milks are sold to parents who buy them for children. The marketing department thinks that there may be untapped …show more content…

YOU CHOSE OPTION 2 Present data on the trends in the sales of all milk to adults over the last 10 years, as this indicates the size of the adult milk market. You got off to a bad start. It doesn't do any good to examine data or seek information before you design the problem that had to be solved. The VP of Marketing had to step in here, which isn't good. Feedback Defining the Problem You hold a meeting with the head of marketing and various VPs in order to define the main thrust of research. Which of the following questions would best serve TriState Dairies at this time? YOU CHOSE OPTION 1 Can we use up our surplus capacity most usefully by producing flavored milks? You defined the problem well, realizing that TriState's major problem is how to use the surplus capacity. Defining the Research Objectives After defining the problem that Marketing wants solved, you need to determine the main thrust of the research. Which of the following research directions would best serve to provide an answer to the business problem that you decided upon? YOU CHOSE OPTION 1 Research into which customers would be interested in buying flavored milk. Defining the Research Plan You are now tasked with developing a research plan that would best support the research objectives that you have just chosen. You consider your options and narrow them down to the following three. YOU CHOSE OPTION 1 Research into the

Get Access
Related
Get Access