Marketing Research and Analysis

In this chapter, we will address the following questions:

  • 1. What are the components of a modern marketing information system? (Page 59)
  • 2. How can companies collect marketing intelligence? (Page 60)
  • 3. What constitutes good marketing research? (Page 61)
  • 4. How can companies accurately measure and forecast market demand? (Page 66)
  • 5. What are some influential developments in the macroenvironment? (Page 69)

Marketing Management at Campbell Soup Company

The Campbell Soup Company’s iconic red-and-white soup can represents one of the most famous U.S. brands. Recently, though, overall consumption of canned soup has declined 13 percent, and the firm’s market share has dropped from 67 percent to 53 percent. To help stop the sales slide, Campbell’s set out to better understand the habits and tastes of 18- to 34-year-olds. Executives visited “hipster market hubs” to observe Millennials during “live-alongs,” where they shopped and ate at home with young consumers, and “eat-alongs,” where they dined with them in restaurants. The key insight: Millennials love spices and eat more exotic food than their parents—they just can’t cook it at home! The solution: a new line of Campbell’s Go! Soupready-to-eat, boldly-flavored meals sold in pouches (and at a price more than three times the basic red-and-white line). Since the target market is tech-savvy, the product line was promoted entirely online on music and humor sites, gaming platforms, and social media.1

Virtually every industry has been touched by dramatic shifts in the economic, sociocultural, natural, technological, demographic, and political-legal environments. In this chapter, we consider how Campbell’s and other firms can collect and store information, conduct marketing research, develop good forecasts to support marketing management, and analyze trends in the macro environment.

 
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