Research Results for Potential New Ice Cream Products

The purpose of this assignment is to compare key types of marketing information including internal data, competitive intelligence, and marketing research and how they influence the marketing strategy, explain the role of marketing research in helping organizations understand and reach customers, and discuss why marketing metrics can provide necessary information to marketers. Once you complete this assignment you will complete MLOs 4.4, 5.5, and 9.2.

Instructions

In this exercise, read through the situational overview below. Using the information presented in Module 4, answer the following questions. Your answers should use a 12 point font, be double spaced, and use APA formatting to cite references on the last page of your assignment (if you use any external sources). It should be submitted as a Word or PDF document.

Situational Overview

The following case study summarizes the results of research for a potential new product - lavender flavored ice cream. An outside research firm conducted a randomized taste test to learn more about what consumers thought. The goal was to learn whether consumers liked the product as is or if the formula of the product needed to be changed prior to launch. Take some time to analyze the findings of the taste-test to help you determine if you think the product is ready as it is currently produced. The firm conducted the test with 1,000 participants with both genders included and a variety of ages (between 7-55). The respondents tasted the proposed lavender ice cream and an unbranded competitor ice-cream with a similar flavor profile.

Product A - proposed lavender ice cream

Product B - competitor ice cream

Survey Results

Question Results Scale

How much did you like Product A? 3.2 1-5

How much did you like Product B? 3.9 1-5

Did you prefer Product A? 40% Out of 100%

Did you prefer Product B? 60% Out of 100%

How would you rate the taste of Product A? 5.1 1-7

How would you rate the design of Product A? 2.9 1-7

How would you rate the boldness of Product A? 4.2 1-7

How would you rate the smell of Product A? 6.0 1-7

Would you buy Product A if it was available in the store? Yes = 25% Yes / No

How often would you buy Product A if it was available in the store? Every 2 weeks Daily, Weekly, Quarterly, Annually

Answer the following questions:

Which of the two products did the participants prefer based on the indicators above?

What are the strongest positive preferences for Product A? What are the biggest negatives?

What are some other questions that should have been included in the research study? List three additional questions.

What would you do if you had to make the decision to launch the product or to reformulate it? Why?

Explain why this type of research is important for marketers when they are launching new products in the market.