The paper "Pringles Market Overview" is a good example of a marketing case study. This market research project seeks to collect market data in order to gather more information regarding Pringles. In conducting this research, it is anticipated that the information gathered will be of great assistance in the marketing strategies to be employed. In order to initiate a successful marketing strategy, a market research is of paramount importance. This helps in initiating informed decisions on the business marketing research hence reducing the cost of irrelevance on the research plan.
Cost-cutting and prudence in market research are key for product and effective result. Any business that wants to reduce its loss and increase its sales and market research is the only tool in business that can ensure such results are achieved. This research plan seeks to map out a plan that will enable the sales of Pringles to increase significantly based on data collected on the ground. Market Research Plan • Objective This market research plan entails the following objective: To define and understand the problem To uncover the issues causing the problem Finding solutions Understanding the data Making an informed business decision • Findings New markets are available for the sale of Pringles Pringles is only accessible to 20% of the entire global population The market share in the snacks and fast foods industry is highly competitive Pringles have kept up with the emerging market trends The Kellogg comes second after PepsiCo. • Recommendations on timing and budget This research will be done by the team members and it is anticipated to take three to four weeks to hand in a conclusive report.
The budget for the research is estimated to cost about US$ 1000 or less depending on other unforeseen factors. Introduction & background This is market research for Pringles, a food product that has been in the market for quite some time.
The research is particularly focused on some of the marketing problems associate in with the product. This will involve consumer perceptions, available alternatives, competition, distribution and costing. These are fundamental issues that affect a product’ s market significantly. Pringles were originally a product of Procter and Gamble and it was first introduced in the market in 1967 (McKee 2013). However, the brand was acquired by Kellogg in 2012 and still runs under the company to date.
The plan seeks to advise the marketing team on the best available options in terms of market target, advertising and consumer retention strategies. All of these recommendations will be based on thorough market research undertaken to support the recommended claims. • Market Overview Owned by the Kellogg Company, Pringles have gained popularity in the US and this has consequently translated to increased sales of the product. In terms of distribution and product presence, Pringles are sold around 140 countries (McKee 2013). In monitory value, the product accumulates a yearly turnover of US$ 1.4 billion for the company in estimates (McKee 2013).
The growth in the total market share of Kellogg was greatly influenced by its acquisition of the Pringles brand. Its market share tripled in 2012 soon after it had acquired the brand. This acquisition process hurled the company to a second place in the global snack market (KnowThis. com: Planning for Marketing Research 2014). The leading company in the market remains to be PepsiCo. According John Bryant, the CEO of Kellogg, the company has more potential to become the leading company in the market.
The company’ s success is greatly attributed to its strategy of employing young and new talents. This has significantly helped in developing new markets especially in Europe, Latin America and the Asia pacific (McKee 2013). Kellogg is doing better than some of the already existing players in these regions