This report outlines and analyses the consumer decision process encountered when purchasing biscuits in relation to primary market research completed targeting one particular demographic of the possible market. The purpose of market research is to ensure that a businesses focus is on producing a product that meets the needs and wants of consumers, therefore it is essential to identify a potential target market and create a product that is able to be successful at all stages of the consumer decision cycle (Armstrong, Adam, Denize, Kotler, 2010, pp. 74-146). The report will explore the effects within the biscuit industry of various external factors influencing their products. Political and legal regulations, socio-cultural trends, economic shifts and the natural environment all impact a consumer’s decision making process and in turn the necessary actions of the businesses. Additionally, there are various demographic, geographic, behavioural and psychographic traits and trends of the target market that are inextricably linked to the circumstances within a marketplace and are analysed (Armstrong, Adam, Denize, Kotler, 2010, pp. 74-146).
In order to assess the traits of a potential target market and the various trends and influences of the biscuit industry an interview with a member of one of the potential target markets will be analysed to identify the problems found within the market, motivations behind biscuit buying and the general wants and needs of this target market. This report focuses on primary research in the form of an interview that aims at discovering the specific issues and decisions made by individuals at each step of the consumer decision making process. The interview focuses on current trends within ...
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...oup of consumers. Through assessing the needs and wants of a major group of consumers, generation X, the biscuit company would be able to further their research and more specifically identify the niche they are required to fill. Due to the general motivations of generation X in buying biscuits as being consistent, fresh and reliable with a strong brand name and reputation, but not necessarily being the cheap alternative there is room for a new business to focus on these ideals and create a successful biscuit catering to their needs.
Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
Eric H. Shaw, 2012, ‘Marketing strategy: From the origin of the concept to the development of a conceptual framework’, Journal of Historical Research in Marketing, Vol. 4, No. 1, pp. 30-55
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