The paper "Introducing New Product in the Market - Potato Bread " is an outstanding example of a marketing case study. The research report gives a report that is aimed at introducing a new product in the market, the Potato Bread. The plan provides adequate information about the product and the need for the consumers to adopt and get the taste of the new Potato Bread instead of the regular wheat bread. The proposal provides a rough description of the four principles of marketing, which include a promotion, price, people, and place that are important to ensure the success of the product in the market.
The research methods, data collection, and analysis are critically discussed in the report. Literature Review Bread is the most popular and the oldest food that has been served from historical times. The main recipe for baking bread has always been wheat, and now a time has come when new raw materials have to be used in baking bread (Hertzberg & François, 2007, 142). In the Middle East, Europe and North America, bread have always been considered a staple food because these regions are good for wheat farming.
The question is what of those regions that are not able to produce wheat to make bread that can serve the whole population? Some regions such as Japan and central Africa produce a good quantity of sweet potato that can be dried and ground into a powder and the flour used to bake bread (Balch, 2003, 42). A research conducted by the World Food Program (2014) in Macedonia alone revealed that the region consumes an average of 680,000 per day.
The data was only collected from the big companies producing bread. In Europe, the brand factories produce over 3.5 million bread per day, and 3.3 million are consumer per day. With the small bakeries that keep coming, the number was expected to triple the figure (Oakshott, 2006, 132). Everywhere in the world, the common meal that people take for breakfast is definitely wheat bread. Therefore, bread can be said to be one of the fastest-selling consumer product globally. With this proposal, the adoption of potato bread to add a more nutritious menu on the breakfast table that people can enjoy not only in the morning but also throughout the day (Wiid & Diggines, 2009, 16). Objective To promote the consumption of potato bread in Australia To launch a new nutritious and healthy bread in the market To promote healthy living by avoiding the use of GMO, that affect people’ s lives To promote a healthy society and create employment Research question How can potato bread be successfully introduced and adopted by consumers in the competitive market? Methodology Conducting marketing research for the potato bread is important for the business stakeholders in making decisions that will ensure the success of the business in the competitive market.
Conducting research and collecting data is also important to help reduce the risk related to business decision making (Gupta, 2003, 16). However, the data collected will not make decisions for the business. The successful introduction of Potato bread requires creativity and comprehensive judgment together with understanding for the product demand to gain popularity (Zikmund & Babin, 2007, 98). Therefore, collecting data for potato bread is client-based research that keenly factor in the correct data collection method, time, level of customization, value addition, and the target clients.
In order to gather information concerning the perception and success of potato bread in the market, various data collection techniques are deployed (Jackson & Furnham, 2000, 52).
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