Hot N' Ready Essay

Submitted By schwaraj
Words: 3383
Pages: 14

Hot’n Ready Sandwiches

Market Research Report:

Hot’n Ready Sandwich Product Line

Table of Contents Page Number

Executive Summary……………………………………………………….....................................3

Introduction………………………………………………………………………………………..4

Research Methodology……………………………………………………………………….…4-5

Background..……………………………………………………………………………………6-7

Findings…………………………………………………………………………………………...7

Limitations………………………………………………………………………………………...8

Conclusions………………………………………………………………………………………..8

Recommendations…………………………………………………………………………………8

Appendix………………………………………………………………………………………9-14

Executive Summary

The inspiration for our initial hypothesis was improved packaging to be more ascetically pleasing so that the Hot N’ Ready product would standout in what we saw as a crowded market. Our research was conducted targeting only people who frequent the University of Cincinnati campus. This hypothesis was then tested through a focus group. The results from this research method showed promise in that respondents said they would be more likely to purchase the product if improvements were made to the packaging. However, respondents varied as to which improvements would increase consumer intent to purchase the most. Our team decided to use an in- depth- interview with a student at the university. This student was an exploratory major who frequented different buildings throughout the campus, served as an ideal candidate because of his high exposure to different campus food sources. From the IDI we began to shape our hypothesis around the potential sales increases associated with creating a technology friendly product. After brainstorming and taking in the information gained from both research methods we formed the hypothesis; the use of innovation and technology on an enhanced package will drive consumer interest on college campuses. Packages that include smart-phone friendly barcodes and phone applications will drive customer sales.

This hypothesis was then tested through the use of a Zoomerang survey. The survey results showed some positive results; however, limitations of the initial survey lead us to create a second, condensed survey. This survey was no non- sense and used two basic questions to obtain the likelihood a respondent would have to purchase the product as it comes now compared to their likelihood to purchase the product with the improved QR code addition. This new survey showed increased consumer intent to purchase with the addition. The results were not dramatic but the noticeable percentage increase led us to recommend that continue research should be done as to the potential benefits. It is our recommendation that a bigger more diverse sample size would lead to data that better represents true customer opinions.

Introduction

The following is the analysis of a market research study conducted for Advanced Pierre’s, Hot’n Ready Sandwich product line. Advanced Pierre desires to understand why sales of their Hot’n Ready Sandwiches on college campuses are not matching sales within the rest of the market place. To gain knowledge of the research problem, primary sources (qualitative research techniques) and secondary sources (literature reviews) were utilized. After establishing a basis for research, a hypothesis was developed, and a quantitative study was conducted with the launch of an internet based survey.

Research Methodology

Research Design:

In the first phase of the research an exploratory design was used to identify potential causes as to what may be the cause of the lower sales of the Hot’n Ready sandwiches on college campuses. The Art of Packaging Part-1, by bhatnaturally on July 23, 2009, was a literature review that inspired the pathway to the research conducted. This article, speaks…