an increased awareness of the health benefits of asparagus
Using appropriate marketing terms and concepts, write a 500-750 word business communication summarizing your findings from the assignment, Market Analysis Data Form Download Market Analysis Data Form. NOTE: The content of your brief should be appropriate reading for an experienced manager in the ready-to-eat breakfast food industry. Do not write at too basic a level. Do communicate that you know something about the industry, but do not assume you know more than your manager.
Header: Begin with a memo-style header.
Introduction: In a paragraph or two, introduce the subject of your brief, including your research methods and sources. Include information about your store visit.
Findings: In a section headed “Findings,” provide a four to five paragraph summary of the data you collected about the industry, the market demand, relevant trends, and any insights you have uncovered. Save your interpretation of the data for the next section.
Conclusion: In a section headed “Conclusion” or “Conclusions,” write a two to three paragraph section that provides meaning and interpretation of the data. What insights can you begin to draw? In the last paragraph, provide a hypothesis about consumer behavior that, if true, could provide an opportunity for your company. Briefly support your hypothesis. In the same paragraph, suggest a way your hypothesis could be tested.
Example of a Hypothesis:
H1: There is an untapped consumer demand for asparagus-fortified cereal.
Due to an increased awareness of the health benefits of asparagus, over the past three years there has been a 15% increase in the average annual household consumption – in both fresh and dehydrated/powdered forms. Currently, no known breakfast food contains asparagus.
Prior to product development, a survey could be conducted to assess the demand for an asparagus-fortified cereal. Additionally, the survey could identify the optimal form, flavor profile(s), and product name.
((Appendix: Attach a copy of your assignment, Market Analysis Data Form, as an appendix to your brief.
References: Include a reference page. Also, be sure to include any in-text citations.))