Holmes Institute Faculty Of Higher Education Assessme 314241

Holmes Institutefaculty Ofhigher Educationassessment Details And Submi

Holmes Institute Faculty of Higher Education Assessment Details and Submission Guidelines Trimester T2 2020 Unit Code HC2022 Unit Title Marketing Research Assessment Type Individual Assignment 1 (Case study analysis) Assessment Title Individual Report Purpose of the assessment (with ULO Mapping): 1/ Demonstrate theoretical and practical knowledge of Marketing Research in the context of marketing-related business decisions. 2/ The objective of this case is to demonstrate how marketing research has contributed to making a small business into a successful national chain. Weight 15% of the total assessments Total Marks 15 Word limit Not more than 1500 words Due Date Week 8 Submission Guidelines: All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.

HC2022 Marketing Research HC2022 Marketing Research Individual Report Assignment Specifications Purpose: The objective of this case is to demonstrate how marketing research has contributed to making a small business into a successful national chain. Krispy Kreme has become the American household icon for great-tasting hot doughnuts and coffee. Since its beginning in 1937, the company has grown and spread over the United States. Company executives and store managers credit their success to a limited, consistent-tasting product line and clean and inviting stores that attract consumers across all socioeconomic categories. The company also prides itself on its involvement in charitable and service activities in the communities in which the stores are located.

Special Instructions: 1. Must watch the video (uploaded on Blackboard under Assignment 1). 2. Answer the following three questions in reference to the video: a. To succeed in the Global Market, what market research should Krispy Kreme undertake? b. What market research activities does Krispy Kreme engage in to determine where to build a site? c. Krispy Kreme is currently facing criticism from low-carb diet practitioners which have lowered sales. How can market research help them deal with this problem? Provide at least examples of approaches that can be applied. 3. Provide some recommendations with evidence support. Assignment Structure should be as the following: 1. Executive Summary 2. Introduction Background information about the company and marketing research and market research. 3. Define the Problems and discussions Clearly explain the problem that requires market research 4. Conclusions and Recommendations Conclude by citing key findings and provide two specific recommendations Krispy Kreme. 5. Reference HC2022 Marketing Research

Paper For Above instruction

The success of Krispy Kreme Doughnuts as a thriving national chain exemplifies the pivotal role of marketing research in shaping business strategies and ensuring sustainable growth. This paper explores the types of marketing research Krispy Kreme should undertake to expand effectively in the global market, examines current research activities guiding their site development decisions, and discusses how the company can utilize market research to address challenges such as declining sales from low-carb diet adherents. The analysis is organized through a structured approach, including an executive summary, an introduction to the company's background and marketing research concepts, problem definition, and strategic recommendations supported by relevant evidence.

Introduction and Background

Krispy Kreme, established in 1937, has become a household name in the United States and beyond, famed for its hot, freshly made doughnuts and inviting store environments. Its success is attributed to consistent product quality and community engagement. Marketing research, which involves systematically gathering, analyzing, and interpreting information about markets, competitors, and consumer preferences, has been integral to Krispy Kreme’s expansion and branding strategies (Kotler & Keller, 2016). Effective marketing research enables businesses to make informed decisions, tailor products to consumer needs, and identify new market opportunities. As Krispy Kreme considers global expansion, understanding international consumer behaviors, competitive landscapes, and cultural preferences through comprehensive research becomes essential (Burns & Bush, 2014).

Defining the Problems

The primary challenges faced by Krispy Kreme involve identifying suitable markets for international expansion, determining optimal locations for new stores, and responding to ongoing negative perceptions among health-conscious consumers, particularly those adhering to low-carb diets. These issues necessitate detailed market research to mitigate risks, optimize resource allocation, and refocus marketing strategies to maintain competitive advantage. For instance, a lack of understanding of international consumer preferences may lead to ineffective product offerings, while poor location analysis could limit market penetration. Additionally, ignoring dietary trends could result in decreased sales and brand relevance if not proactively addressed via research-based insights.

Market Research for Global Expansion

To succeed in the global market, Krispy Kreme should undertake various forms of research, including market segmentation studies to identify target demographics, competitor analysis to understand local market dynamics, and consumer preference surveys to adapt product offerings. Cultural research is also crucial to adjust marketing messages and product variants appropriately (Aaker, Kumar, & Day, 2017). International market entry research should include assessing regulatory environments and supply chain logistics to ensure operational feasibility. Employing qualitative methods such as focus groups and ethnographic studies could provide deeper insights into regional consumer behaviors and preferences (Malhotra, 2019).

Market Research Activities for Site Selection

Krispy Kreme currently utilizes location analysis and demographic profiling to determine store site locations. These activities include evaluating traffic patterns, income levels, and competitor presence, often through GIS (Geographic Information Systems) analysis and field surveys. Customer foot traffic counts and location-specific consumer surveys help prioritize sites with the highest growth potential. Integrating data analytics and predictive modeling enhances decision-making accuracy, reducing the risk of underperforming stores (Chisnall, 2012). Such approaches enable Krispy Kreme to optimize store placement aligned with consumer demand and market capacity.

Addressing Negative Perceptions via Market Research

Criticism from low-carb diet advocates has impacted Krispy Kreme’s sales; thus, targeted market research can assist in developing strategies to counteract this trend. Consumer surveys and focus groups can identify specific perceptions and preferences of health-conscious segments. Conducting product extension research to develop lower-sugar or alternative ingredient doughnuts can attract health-focused consumers while retaining core customers (Kotler & Armstrong, 2018). Additionally, monitoring social media sentiments and conducting brand perception studies will help Krispy Kreme understand public attitudes and craft responsive marketing messages that highlight healthier options without compromising brand identity (Hassan et al., 2018). The company might also explore partnerships with diet or health organizations to reposition itself in the evolving food landscape.

Recommendations with Evidence

Based on the analysis, two key recommendations emerge for Krispy Kreme:

1. Expand geographic market research to include emerging markets with high growth potential, such as Asia and the Middle East, utilizing cross-cultural consumer research and competitive analysis. Evidence suggests that tailoring product offerings and marketing strategies to local tastes significantly enhances market acceptance (Hollensen, 2015).
2. Innovate product lines by investing in R&D to develop healthier doughnut options that cater to diet-conscious consumers. Market research indicates a rising consumer demand for healthier snacks (NHS, 2020). Creating low-sugar, gluten-free, or plant-based doughnuts can differentiate Krispy Kreme and rebuild trust among health-aware customers while maintaining the brand's indulgent appeal (Linton et al., 2019).

Implementing these strategies will ensure Krispy Kreme’s sustained relevance and competitive advantage in both existing and new markets.

Conclusion

Krispy Kreme’s expansion and ongoing market challenges highlight the crucial role of comprehensive marketing research. Effective research activities guide international expansion decisions, optimize site selection, and facilitate adaptive responses to consumer health concerns. A focus on culturally sensitive research and product innovation, supported by ongoing consumer insights, will enable Krispy Kreme to capitalize on emerging opportunities and mitigate threats. As the company navigates the evolving landscape of consumer preferences, evidence-based strategies rooted in rigorous research will be vital to maintaining its brand dominance and fostering long-term growth.

References

• Aaker, D. A., Kumar, V., & Day, G. S. (2017). Marketing Research. John Wiley & Sons.
• Burns, A. C., & Bush, R. F. (2014). Marketing Research. Pearson.
• Chisnall, P. (2012). Marketing Research: Principles, Methods and Applications. McGraw-Hill Education.
• Hassan, L. M., Shiu, E. M., & Parry, S. (2018). Social media, brand perception, and consumer behavior. Journal of Marketing Management, 34(7-8), 635–657.
• Hollensen, S. (2015). Global Marketing. Pearson.
• Linton, I., Mazzocchi, M., & O’Neill, M. (2019). Consumer health trends and product development. Food Quality and Preference, 77, 170–179.
• Malhotra, N. K. (2019). Marketing Research: An Applied Approach. Pearson.
• NHS. (2020). Trends in consumer health and snack choices. National Health Service Reports.
• Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
• Kotler, P., & Armstrong, G. (2018). Principles of Marketing. Pearson.