True Earth Case Study
Contents
1. EXECUTIVE SUMMARY 1
2. INTRODUCTION 2
2.1 MARKET RESEARCH TERMINOLOGY DEFINITION 2
2.2 IMPORTANCE OF MARKET RESEARCH 2
2.3 TRUEARTH PROFILE 3
3. MARKET OPPORTUNITY 3
4.PRODUCT DEVELOPNMENT 5
5. FORECASTING PIZZA SALES 6
5.1. STEP 1/ESTIMATE THE TRIAL VOLUME 6
5.2: STEP 2/ESTIMATE THE REPEAT PURCHASE VOLUME 7
5.3: STEP 3/ESTIMATE THE TOTAL PURCHASE VOLUME 8
6. CONSUMERS’ VIEW OF REFRIGERATED PIZZA COMPARED TO OTHER SUBSTITUTES 9
6.1 IMPACT OF TRUEARTH PIZZA ON OTHER CHOICES 10
7. COMPARISON BETWEEN PIZZA AND PASTA CONCEPT TEST RESULTS 11
8. IS THERE A FIRST-MOVER ADVANTAGE IN PIZZA SIMILAR TO FRESH PASTA? 12
9. IN-HOME PIZZA TEST RESULTS 14
10. TO LAUNCH PIZZA OR NOT? 15
11. CONCLUSION 16
12. APPENDIX 16
12.1 TABLES 17
13. REFERENCES 20
1. EXECUTIVE SUMMARY
Topics covered include: consumer marketing, market research, new product introduction, and quantitative analysis. TruEarth Healthy Foods, a maker of gourmet pastas, sauces, and meals, wants to build on its successful introduction of fresh whole grain pasta by introducing a similar product concept for pizza. In an increasingly competitive market, TruEarth is focused on beating its competition and wants to act quickly and decisively. The company conducts extensive market research, first using focus groups to test the concept and then following up with take-home trials.
2. INTRODUCTION
2.1 MARKET RESEARCH TERMINOLOGY DEFINITION
Market research involves the marketing function that links the consumer, the customer, and the public to the marketer through information. It involves the methods used to gather information, analyze it, and report the findings related to marketing goods and services which can be applied to any aspect of marketing.
2.2 IMPORTANCE OF MARKET RESEARCH
Marketing information that is retrieved from market research is used to identify marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing
1. EXECUTIVE SUMMARY 1
2. INTRODUCTION 2
2.1 MARKET RESEARCH TERMINOLOGY DEFINITION 2
2.2 IMPORTANCE OF MARKET RESEARCH 2
2.3 TRUEARTH PROFILE 3
3. MARKET OPPORTUNITY 3
4.PRODUCT DEVELOPNMENT 5
5. FORECASTING PIZZA SALES 6
5.1. STEP 1/ESTIMATE THE TRIAL VOLUME 6
5.2: STEP 2/ESTIMATE THE REPEAT PURCHASE VOLUME 7
5.3: STEP 3/ESTIMATE THE TOTAL PURCHASE VOLUME 8
6. CONSUMERS’ VIEW OF REFRIGERATED PIZZA COMPARED TO OTHER SUBSTITUTES 9
6.1 IMPACT OF TRUEARTH PIZZA ON OTHER CHOICES 10
7. COMPARISON BETWEEN PIZZA AND PASTA CONCEPT TEST RESULTS 11
8. IS THERE A FIRST-MOVER ADVANTAGE IN PIZZA SIMILAR TO FRESH PASTA? 12
9. IN-HOME PIZZA TEST RESULTS 14
10. TO LAUNCH PIZZA OR NOT? 15
11. CONCLUSION 16
12. APPENDIX 16
12.1 TABLES 17
13. REFERENCES 20
1. EXECUTIVE SUMMARY
Topics covered include: consumer marketing, market research, new product introduction, and quantitative analysis. TruEarth Healthy Foods, a maker of gourmet pastas, sauces, and meals, wants to build on its successful introduction of fresh whole grain pasta by introducing a similar product concept for pizza. In an increasingly competitive market, TruEarth is focused on beating its competition and wants to act quickly and decisively. The company conducts extensive market research, first using focus groups to test the concept and then following up with take-home trials.
2. INTRODUCTION
2.1 MARKET RESEARCH TERMINOLOGY DEFINITION
Market research involves the marketing function that links the consumer, the customer, and the public to the marketer through information. It involves the methods used to gather information, analyze it, and report the findings related to marketing goods and services which can be applied to any aspect of marketing.
2.2 IMPORTANCE OF MARKET RESEARCH
Marketing information that is retrieved from market research is used to identify marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing
References: 1- Rangan, V. Kasturi, and Sunru Yong. "TruEarth Healthy Foods: Market Research for a New Product Introduction." Harvard Business School Case 094-065, December 2009 2- Wikipedia website, http://en.wikipedia.org/wiki/Market_research , retrieved on 21/10/2012 3- Market research website http://www.msearch.com/services_products.aspx, retrieved on 21/10/2012 4- Small Business, Chron,Consumer and Customer definitions, http://smallbusiness.chron.com/customer-consumer-definitions-5048.html retrieved on 20/1/2012