AGB 456, Food Product Innovation and Development--Assignment 10 ADD YOUR NAME (double click in this area, delete this part once you’ve added your name) Title here—you can use this document to prepare your Assignment 10, just save it, write in it, and delete all text that’s not yours Carola’s title (delete for your own document): Consumer perception of fat free chocolate – Evaluating potential market success of ChocNoChub Abstract Your text here. Summing up what you did. I could write: Obesity becomes increasingly an issue for consumers. Looking for healthier snacks some might be interested in fat free chocolate. This study investigated how the fat free chocolate ChocNoChub would be perceived. Results from a consumer survey show that a majority is in favor of the product, however, consumers are concerned about the taste. The current name is not preferred compared to more popular brands such as Hershey’s or Cadbury. Those more involved and familiar with chocolate were more skeptical towards the product compared to consumers less familiar and involved. Female, middle aged, high income consumers are more likely to purchase the product compared to male, young, low income consumers. [Note I made this up to have an example for you. You can look at other journal articles for examples of abstracts.] 1. Introduction Your text here. You can start by describing the product. The material from assignment 1 can be included in this. Usually, start with a problem and motivation that leads to research question and objective of the study. Finish with what’s coming next. Please note: you can use journal articles to see how a classic research paper is structured. You could look for example at the American Journal of Agricultural Economics, Agribusiness: An international journal, European Review of Agricultural Economics, Food Policy, Food Quality and Preference. 1 AGB 456, Food Product Innovation and Development--Assignment 10 ADD YOUR NAME (double click in this area, delete this part once you’ve added your name) For my product: Obesity is increasingly an issue. Consumers like to snack. Is there a market for guilt free candy? If so, could ChocNoChub be the answer? The objective of this research is to investigate what is important to shoppers buying chocolate. Are there certain attributes that are more important than others? If so, how important is fat content? How often do they buy chocolate? Are there differences between consumers that are: more familiar, more knowledgeable and more involved with chocolate and those who are not? Most importantly how do consumers perceive fat free chocolate? Would they want to buy it? And if so, what would be a good brand name? All of these things are then related to certain consumer characteristics. In order to investigate this and answer the research questions I conducted an online consumer survey researching consumers’ perception of the fat free chocolate innovation ChocNoChub. Results show that a certain consumer segment would be likely to buy the product, however, the name was not appealing. The remainder of the paper describes the theoretical background, explains the methods used, presents the empirical results, and finishes with some concluding remarks. Note: This is only an example, in your assignment this will most likely be longer. Also, it is common to use references in this part. For example, I would have to prove the claim about obesity. I should also add some market data about chocolate, varieties, brands, prices etc. You can also include your hypotheses here. Research questions are usually more general and not so many specific questions like I used in my example. You can use Assignment 1 to write this section. 2. Theoretical Background Your text here. Week 3 covers this. Since my example is on perception and involvement, I would describe some theoretical background using references in this section. The power point lecture in Week 3 provides you with background. 2 AGB 456, Food Product Innovation and Development--Assignment 10 ADD YOUR NAME (double click in this area, delete this part once you’ve added your name) You can use Assignment 4 to write this section. 3. Methodological Background Your text here. Weeks 2, 4 and 5 cover this. Because I want to measure perception and involvement I include certain methods. The methods I used in my example are explained in Week 4—Question 6 is a word association test (free elicitation technique) to elicit consumers’ perception (e.g., Grebitus, 2008). I would learn how my participants think about fat free chocolate in general. Question 8 is measuring the attitudes that consumers hold towards chocolate and how much they know about it (Joiner, 1998). Question 9 is an involvement scale, more specifically, the Personal Involvement Inventory (PII) by Zaichkowsky (1994). You can use Assignments 2, 3, 5, 6 to write this section. 4. Empirical Results 4.1 Sample description Your text here. Describe how you did your survey, how many people you interviewed, and how they are characterized in terms of socio-demographics. You can use Assignment 2 and 3 to write this section. 4.2 Descriptive Analysis Your text here. 3 AGB 456, Food Product Innovation and Development--Assignment 10 ADD YOUR NAME (double click in this area, delete this part once you’ve added your name) Week 6 covers this. I could display for example a table that lists how many of the participants have mentioned certain words in Question 6. I could make a table or figure using questions 5 and 7. 4.3 Statistical Analysis Your text here. Week 7 and the final week cover this. 5. Conclusion Your text here. Summarizing your findings, making conclusions and discuss limitations and future research. Look at your introduction, what did you want to find out? For example, how do the results support your hypotheses? Do the results match your expectations? Are there any limitations to your study? For example, did you notice that next time you should use other methods in addition to what you did to be able to answer the question more precisely? Is there a recommendation you could make for future research? For example, I could suggest that the next study should look at willingness to pay for ChocNoChub to see if there is really a market for this product. References. Grebitus, C. (2008). Food quality from the consumer’s perspective: An empirical analysis of perceived pork quality. Cuvillier Verlag, Goettingen. 4 AGB 456, Food Product Innovation and Development--Assignment 10 ADD YOUR NAME (double click in this area, delete this part once you’ve added your name) Joiner, C. (1998). Concept Mapping in Marketing: A research tool for uncovering consumers’ knowledge structure association. Advances in Consumer Research, 25, 311-317. Zaichkowsky, J. L. (1994). The Personal Involvement Inventory: Reduction, Revision, and Application to Advertising. Journal of Advertising, 23(4), 59-70. 5 Questionnaire Techniques Using the right technique to conduct the research is very important since it helps to collect all the useful information and it gives more insight on what should be done before launching the product so it can be successful in the market. the techniques that I employed are Likert scales, health and taste attitude scales, and free elicitation technique. a) Likert scales- this is a technique that is used to represent the attitudes that people have on a certain topic. A Likert scale will normally have between five questions to nine questions that a respondent is supposed to disagree or agree to. This method was preferred because it gives opinions, behaviors as well as perceptions that are reliable. b) Health and taste attitude scales- been a food product, it is very important to understand what people’s preferences are in terms of taste and health. Currently, people are leaning more to healthy food which brings the need to understand what people attitudes are. The scales will contain questions that are related to health issues as well as taste. For instance, whether people prefer to have salted chips or not. It will help to come to a conclusion about the flavors that chips should have. c) Free elicitation technique- this technique is used basically to gather information about people. It involves collecting the information directly from people other than from written materials. This will help to understand people’s preferences. It will be important to tailor make the product to people’s preferences or even know how to go about the marketing of the product. Analyze the data that you collected with your questionnaire, using some of the methods covered in class. For example, perform and interpret the output from a cluster analysis. Write a short empirical paper. You can write in the example document I created. To write the paper, you can use a lot of the material you prepared in the previous assignments. The paper should be: • About 6 pages 1.5 spaced • 1" margins on all sides • 12pt Times or 11 pt Arial The topic of this paper has to be related to a product to be developed or a recent innovation. The product has to be a food/agribusiness product. When collecting data about the new product, Cass Chips, it is imperative that the firm considers some of the data collection methods. There are two major methods that can be used including quantitative and qualitative methods. The method to be applied in this case is quantitative data collection method. The method has several pros and cons that would affect the survey. One of the major advantages is that data can be collected quickly thereby enabling the analysis to be conducted in a timely manner. The method is also highly cost-effective thereby leading to huge savings that could be used to expand various aspects of the business. Despite the advantages that are associated with the method, there are also several backsides to the method. First, it does not offer specific details about the target audience (Harrell & Bradley, 2014). Such lack of specificity affect the analysis and lead to strategies that do not promote the sales of the product. This can also lead to generalizations that may affect the plans that are being developed by the business for the market. A firm thereby needs to consider its position and the nature of the product before choosing the data collection method to be employed. There are four major methods that can be used for the survey. They include face-to-face, written, online, and phone questionnaires. There are several advantages and disadvantages that are associated with each method. Face-to-face questionnaires are quick to undertake and have a highly likelihood to deliver correct answers. However, the method can be highly time- consuming. Written questionnaires can provide great insights about the thoughts of the customers thereby providing more feedback. However, the method can be expensive and take a long time to complete the survey. Online surveys can attract many participants thereby creating credibility for the results that are produced from the survey. The backside of online surveys is that they are expensive since a website has to be created for people to participate in the survey. On the other hand, phone questionnaires are considered to be boring by many people and this would have a detrimental impact on the survey. The most appropriate method for the survey is the face-to-face questionnaires. The method is most suited for the survey since the interviewer can ask many questions regarding the product and what the consumers expect in the future. This may be used to deliver products and services that are tailored to meet the needs and preferences of the consumers in the long-term. Reference Harrell, M. C., & Bradley, M. A. (2014). Data collection methods: Semi-structured interviews and focus groups. Santa Monica, CA: RAND.
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