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A Risk Versus Reward Approach to Market Research
內容大綱
King’s Hawaiian Bakery, West Inc. (King’s Hawaiian), a beloved and highly regarded company, produced a line of bread products dating back to the 1950s and was inspired by a Portuguese sweet bread. The business had grown over time, adding more production facilities and expanding from Hawaii to the mainland United States in 1977. King’s Hawaiian had done minimal consumer research related to its development of new products before it hired Troy Figgins as its new head of consumer insights. In October 2018, Figgins was tasked with creating a new consumer insights department; what this department looked like and how it functioned were entirely up to him. He was eager to design a best-in-class insights team to work with new strategies, tools, and partners. King’s Hawaiian knew it had to conduct market research to uncover insights to keep pace with evolving customer needs—but how? Figgins considered his problem and possible solutions to deliver great insights.
學習目標
This case is suitable for undergraduate- and graduate-level courses in marketing, market research, and the use of digital technology for learning. It focuses on identifying and implementing a marketing research program within a consumer packaged goods company, which would enable ongoing insights and learning about the brand. After working through the case and assignment questions, students will be able to do the following:<ul><li>Explain how to consider and secure access to innovative market research tools to enhance new product initiatives and strengthen a business.</li><li>Identify the worthwhile trade-offs to gain reliable and accessible information about investment spending, time to obtain insights, and agility of implementation.</li><li>Detail actions a company can take to connect with technology to build insights.</li><li>Propose a course of action to implement a consumer insights department within a consumer packaged goods organization.</li></ul>