Mintel's Market Data Reports offer a quick and in-depth look at a market, providing Market Sizes, Market shares, Industry insights and 5 years forecasts. Trends in the dining experience, menu optimization and new flavors, ingredients or food preparation methods. Trend tracking, analysis and interpretation of changes in culture markets, brands and consumer behavior. Mintel Consulting delivers a fresh viewpoint supported by rigorous data on brand, innovation, strategy and consumer insight.
Mintel Field Services provides authentic consumer reporting with data that monitors competition and informs sales strategy. We are a team of food and packaging experts that sit within the Technical Division, our mission is to support the business to drive customer-focused innovation and passion for product.
At present, my particular role is focused on delivering our annual Food Trends Book and coordinating our Graduate Food Training courses. Our objectives within the Food Academy are to lead on product and packaging research, food training and foresight and passion. Food training is about investing in the continuous development of all our colleagues, and foresight and passion is how we stimulate creativity and facilitate cross-category product development.
GNPD is a great tool, and I often use it to support some of the work we do for the categories. When used properly, it can stimulate creativity and generate new ideas, verify if any new ideas we come up with have already been launched elsewhere, and illustrate how other brands and retailers are solving specific customer needs or interpreting trends.
We sit outside the categories and so when we are running a workshop or course for a particular area of the business, the Mintel Annual Reports are a great tool for getting you a feel for the dynamics of that specific category. Whether it be market or consumer data or a look at who is innovating, a quick read of the report is very valuable.
The way in which the reports are presented means you can jump straight to the sections that are most relevant to you, or indeed just read the Executive Summary. One of the most useful services that Mintel provides for us is pulling together bespoke pieces of work to support our projects. This ranges from them collating flavour trends data tailored to specific categories to support our trend book to them coming in and presenting at some of our cross category Blue Sky innovation workshops.
In my role, I mainly use GNPD, the annual reports, Mintel Trends and bespoke services tailored to our needs, such as presentations at our internal workshops. Last year, we ran a cross category Blue Sky innovation workshop focused on a certain part of our food offer. Our aim was to unlock market leading development opportunities and differentiate our range. This would have a great impact on Tesco as it holds information of millions of customers and the amount of money Tesco would have to pay each customer would be a very large amount, leaving Tesco in loss and affecting its Marketing Plans such as: Although Tesco aim to provide an excellent customer service, they cannot achieve this by using this type of research.
Surveys could be a bad idea too as they can be costly to create a questionnaire, but once set up can used for a large sample. It could also lead to Tesco not actually getting their surveys back from customers. Setting up a focus group can be very expensive and needs to take place in a specific location. The information gathered for market research is very useful and reduces the chances of the business making the wrong decision.
Before coming up with a marketing play Tesco must always conduct research in order to have an ideas of whether the plan is an appropriate thing for the company. Accessed September 14, We will write a custom essay sample on McDonalds or Tesco specifically for you. Leave your email and we will send you an example after 24 hours If you contact us after hours, we'll get back to you in 24 hours or less. McDonalds or Tesco Essay. How to cite this page Choose cite format: How about make it original?
Transcript of Market Research- Tesco Primary Research -Primary research is research carried out by the marketing team of the business to find out new/update information effecting the business.
Tesco PLC Report contains more detailed discussion of Tesco marketing strategy. The report also illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis and McKinsey 7S Model on Tesco.
Conclusion Tesco is committed to maintaining itself as a global retailing leader and its use of scientific research methods enables it to keep growing and expanding. Management research. Advances in business marketing and purchasing. Review of marketing research. Any available previous research on Tesco. Comments of Tesco customers on the Company's official website. Major marketing magazines. Newspapers.
Our objectives within the Food Academy are to lead on product and packaging research, food training and foresight and passion. Product and packaging research spans from macro food trends to new ingredient/packaging technologies that will enhance our customers’ experience of the Tesco brand. Explain the limitations of market research in terms of helping the development of a marketing plan for either McDonalds or Tesco (M2) Tesco uses primary type of research to gather information about its customers, competitors and the environment.