Market research - Essay ExampleOne of the easier methods of new product development is brand extensions. In 1980, the company launched cornflakes in the UK market. Buoyed by its huge success, it has been regularly expanding this market through the strategy of brand extensions. Crunchy Nut clusters launched in 2003 was followed by Crunchy Nut Bites which hit the market in 2008. All these brands have been hugely successful for Kellogg’s. This paper traces the success story of Kellogg’s. It outlines the importance of marketing research, provides for a critique on the four-stage research process at the company and also presents the salient findings from marketing research undertaken for the Crunchy Nut Bites and the new Coco Pops brand. 2.0 Introduction Kellogg’s is a world leader in the cereal market. With nearly 500 successful brands in its portfolio, it believes in a domineering market presence through the all-important strategy of innovation complemented by marketing clout.
