Exam 2017, answers PDF

Title Exam 2017, answers
Course Barchelor's of Business Management
Institution Moi University
Pages 5
File Size 119.9 KB
File Type PDF
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Clover Valley Dairy Company Case Study Part I Purpose of the Research The purpose of the case study is to increase Clover Valley Dairy Company’s overall profits by developing the least expensive packaging for its yogurt that is accepted by its customers (Ladik, Kent, & Nahl, 2007). In addition to accepting its customers, it also aims to maintain high levels of sales. Research Objectives Research objectives is to increase the company’s overall profit by developing the least expensive packaging for its yogurt that will be accepted by its customers and maintains high levels of sales. The objective of our study is to determine if the multipack carrier’s new package will sell as effectively as the single cups within this market and should be released. We will use a descriptive research approach for this study (Ladik et al. 2007). The research aims to determine whether customers in this market are receptive to the multipacks, whether they are receptive to the single cups and what they think the product should be changed. Research Design The market test will be carried out at Bill's Market to determine the opinions and attitudes of consumers regarding the new packaging and the multipack vs. the single cups. In order to reduce the reactions of specific consumers to our product, It is important that we keep our tests within a narrow geographical area, so it is a good idea to limit the study to Bill's Market during this initial phase of testing.

It is very important to carry out a test like this before the product is released, because it can help us to determine whether our customers are receptive to this product and whether changes need to be made before it is launched to meet our customers ' needs. This can help us to avoid significant financial losses if this market is not well received. Sampling Methods and Selection To determine whether the multipack carrier passes or fails, we will do so by evaluating the responses of consumers obtained during our market test. We want to gain consumer insight into any issues with packaging (Aaker, 2010). If we receive most unsatisfactory reviews, this would be a packaging failure. On the other hand, if the majority of reviews are positive, indicating the packaging is effective and accepted, this will constitute a success. The proposed test will be very useful if the new multipack carrier is to succeed in our market (Ladik et al. 2007). Mr. Mr. Krieger suggests that we use Bill's Market as our test location, which will allow us to use this market as a sample and to narrow down its market characteristics and its reactions to our product. Data Collection Method The collection of data in this case will be through both primary and secondary method. Secondary data are data collected by someone but the researcher himself. These data can be collected from public records, books, trade associations, national or international institutions, statistical agencies, and so on. Research conducted using this information readily available is called secondary market research. Data Analysis and Presentation

If we only deliver the multipacks in the first two weeks, we will independently measure the sales of this product. In addition to the multipacks, the single cups will be delivered in the third week. This allows us to compare the popularity of the multipacks with the single cups and to see how the sales of the multipacks are affected by the addition of the single cups. Mr. on the third weekend Krieger suggests that an employee should be stationed in the milk case. You will see whether shoppers choose individual cups or multipacks. If you have chosen the multipack, the employee will ask why you have made this choice (Aaker, 2010). If they select the single cup on the other hand, the employee will ask them why they have not selected the multipack. This helps to identify any problems that customers have with the multipacks, so that they can select the single cup instead. While this is a great strategy to test our new packaging and to identify what needs to be changed, the test should be extended to provide information that is more accurate. The customer survey should be more comprehensive. The design of the research study is cost-effective because it is carried out over a relatively short period of 3 weeks and requires minimal labor costs for employees, with one employee stationed in the dairy case for the third weekend (Ladik et al. 2007). With this short, focused study, we will obtain very valuable information about our customer opinions on our multipack carrier. In view of this, it is necessary to incur the minimum costs involved in obtaining this valuable information. Part II Questions for Discussion Should the new multipack carrier be tested?

The packaging method was the main problem for Clover Valley Dairy Company. There was a lack of an applicable packaging system within the company, which had increased but reduced sales and competitive advantages of the company. The cost per unit of yogurt was not in line with the aggressive market when the company introduced the single packaging system. There is, however, one option that could help the company gain more profit by reducing the cost of packaging, and that is the multipack carrier. To find out the sales results, the company is better off testing its new Multipack carrier, which is suitable for families of employees to find out what they think about this type of packaging (Aaker, 2010). It is important to test the new multipack carrier on the market to see if it is capable and suitable for customers ' needs and requirements. If the multipack carrier is not tested on the market, we will not be able to analyze the market's value and benefits. However, this test by the multipack carrier can improve market share costs and reduce growth. This will also help to analyze the strength and weakness of the growth of the company in the competitive market for the long term. If a test is judged necessary, what should be criteria for success or failure? It is very important that a Clover Valley Dairy start testing the new multipack carrier, so that its management can implement it with great effort, whether it influences the needs and requirements of the customers or whether it remains the same. At this point, some good management strategies would be useful to implement on the market in order to succeed. The company should start by developing from multipack carriers 5000 to 10000 units at a cost of 7.5 cents per 6 oz cup. In addition, they should select a specific target market and shops to sell the Multipack yogurts to consumers. However, regular market surveys will help to test the multipack carrier. To conduct surveys, the company should appoint its survey team to ask some questions directly from consumers about the packaging method during the purchase of the products. At the same time,

you can find out what the consumer feels about the new multipack carrier and get feedback for further improvements (Aaker, 2010). I believe that this process should go on for one month to ensure packaging environment is being successful or not. How useful is the proposed test in addressing the management problem? What changes, if any, would you recommend? The evaluation of the cost or value of the research is one of the main and important parts of this case due to its requirements for the successful case study to be carried out. The costs include the long-term success of this case study and require the market to know exactly what is happening and the company's position. References Ladik, F., Kent, L., & Nahl, P. C. (2007). Test Marketing of New Consumer Products. Journal Of Marketing, 24(4), 29-34. D. Aaker, G. D. (2010). Marketing Research: 10th edition. Hoboken, NJ: John Wiley & Sons....


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