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The research project assignment on market research delves with the international market in respect of flavoured water had an estimation of reaching 7.5 billion litres, having an average growth of 5% per annum forecast for the next 5 years. Irrespective of an escalating number of options for drinks marketed in respect of consumers, the category of flavoured water is continuously thriving as well as growing in many regional markets, maintaining the interest of the consumers with the help of reformulations, new flavours, redesigning of brands as well as new pack formats among other pioneering efforts and the fruit juice market in the UK stating that that the fruit juice consumption reduced to less than 1 billion litres in 2014, additional ground was lost by the smoothies with a reduction of 6% to 48 million litres in 2014, and the fruit juice consumption in the UK likens to an average of just 41ml per person each day.
The objective of the research is to identify the market share of the flavored water market in the UK and Ireland as well as the market share of the fruit juice market in the UK and Ireland.
In 2015, the international market in respect of flavoured water had an estimation of reaching 7.5 billion litres, having an average growth of 5% per annum forecast for the next 5 years. Irrespective of an escalating number of options for drinks marketed in respect of consumers, the category of flavoured water is continuously thriving as well as growing in many regional markets, maintaining the interest of the consumers with the help of reformulations, new flavours, redesigning of brands as well as new pack formats among other pioneering efforts. A statistical report showcased the fact that the leading flavoured water brand in the UK in 2015 was Volvic Touch of Fruit that was used by an estimated 3.5 million individuals and in the second position was Oasis with 2.37 million users and in the third position was Tesco with 2.28 million users. (Abdulkadiroglu, 2015)
In terms of value sales, Danone Waters, Nestle Waters as well as Highland Spring were on the podium in 2015. Off trade value sales were led by their classic brands Volvic, Evian, Buxton as well as Highland Spring. It has been considered a winning strategy for partnering with sport. Evian is sponsoring Wimbledon, Highland Spring is partnering British Tennis and Buxton is the official supplier of the English Cricket Team, at the same time as Volvic is sponsoring the progressively more popular endurance event Tough Mudder. This strategy has been proved to be successful in an environment that is considered to be increasingly conscious regarding health. With the continuous boom regarding bottled water, there is an expectation of increasing number of players in having the involvement particularly regarding flavoured as well as functional bottled water that are the categories that can be accessed more easily by the soft drinks companies. (Berghoff, 2012)
The flavoured water market can be segmented into three categories such as bottled water, carbonates as well as dilutables.
Bottled Water – These are considered to be still, sparkling as well as lightly carbonated, natural mineral waters, spring waters as well as bottled drinking waters packaged in sizes of 10 litres or below, water in respect coolers in sizes of 10.1 and above. Major facts from 2014 reveals that the total bottled water volume had a growth of 9.3% to 2,580 million litres, there was an increase in the volume of coolers for a second consecutive year that rose by 4.9% to over 280 million litres, the 500ml bottle, both single as well as multi-pack are continuing to be the most popular size of pack and lastly, on premise sales is continuing to recuperate despite the fact that the growing demand for tap water in restaurants is continuing to pose as a threat in respect of sales.
Carbonates – This is associated with ready to drink carbonates, that takes into consideration draught as well as home dispense, regular, mid, low and no calorie, sparkling juices, cola, lemon that includes lemonade, lemon-lime, energy drinks, mixers that include tonic and bitter drinks, orange, shandy as well as others that consists of other carbonated fruit flavours, sparkling flavoured water, health drinks as well as herbal drinks. Major facts from 2014 reveals that 49% of carbonates sold in 2014 were low and no calorie, there was a slender fall in total volume to 6, 380 million litres, the developing mid calorie market is presently accounting for 6% of all carbonates sold and lastly, it can be stated that fewer than half the carbonates in the UK market are regular drinks. (Abdulkadiroglu, 2015)
Dilutables – These comprise of squashes, cordials, powders as well as other concentrates in respect of dilution for tasting by consumers, adding 4 parts water to 1 part product in respect of single concentrate or 9 parts water to 1 part product in respect of double concentrate. The rates of dilution regarding super concentrates are varying. In a typical way, 50-70ml bottle is making 20-30 servings which are equal to 5-7 RTD litres. Major facts from 2014 reveals that 74% of dilutables drinks are low as well as no calorie, consuming dilutables reduced by 2.3% to 3.4 billion litres in ready to drink volumes, the value of the market dropped by 4.5% to under ?1.1 billion and lastly, super concentrate squashes have taken dilutables into the ‘on-the-go’ sector.
These comprise of squashes, cordials, powders as well as other concentrates in respect of dilution for tasting by consumers, adding 4 parts water to 1 part product in respect of single concentrate or 9 parts water to 1 part product in respect of double concentrate. The rates of dilution regarding super concentrates are varying. In a typical way, 50-70ml bottle is making 20-30 servings which are equal to 5-7 RTD litres. Major facts from 2014 reveals that 74% of dilutables drinks are low as well as no calorie, consuming dilutables reduced by 2.3% to 3.4 billion litres in ready to drink volumes, the value of the market dropped by 4.5% to under ?1.1 billion and lastly, super concentrate squashes have taken dilutables into the ‘on-the-go’ sector.
As per recent reports, the consumption of bottled water drinks in UK grew to 8.2% in 2015 for reaching almost 3.3bn litres, having a retail value exceeding £2.5bn. In the past 15 years, volumes have more than doubled and the per person consumption is currently standing at more than 51 litres per year. In 2015, there occurred an increase in flavoured, functional as well as juicy water plus drinks by 5.7% to a volume of 486m litres. (Abdulkadiroglu, 2015)
In respect of flavours, the citrus variants are still considered to hold the top position in traditional markets but there is the emergence of more variety. In the recent years, mixed flavours as well as berry combinations have made strong inroads and the manufacturers are also drawing on herbs as well as botanicals for tapping into increasing demand of consumers in respect of ‘natural’ ingredients as well as flavourings. There is also the emergence of limited edition as well as seasonal variants like Spendrups’ gingerbread water, Ondrasovka’s orange as well as cinnamon concoction and Danone’s coconut and pineapple flavours. (Berghoff, 2012)
The market share of fresh fruit juice was around 27.8% for the total consumption of fruit juice in 2007 that rose to 44.3% by 2015. Certain major facts regarding the fruit juice market in the UK states that the fruit juice consumption reduced to less than 1 billion litres in 2014, additional ground was lost by the smoothies with a reduction of 6% to 48 million litres in 2014, and the fruit juice consumption in the UK likens to an average of just 41ml per person each day. (Abdulkadiroglu, 2015)
The variety of fruit juices comprises of high fruit juice (25-99% fruit content) as well as juice drinks that include juicy water having 5-30% fruit content. There occurred a rise in the volume of juice drinks by 0.7% to 1, 480 million litres, and a major fact in this regard is that 36% of juice drinks are mid, low as well as having no calories. (Abdulkadiroglu, 2015)
There has been a steady growth in the industry for juice bars in the last 5 years. In the UK, the juice bar industry is considered to be comparatively new in comparison to the other developed markets like the US. There is an estimation of the revenue of the industry for expanding at a compound annual rate of 7.4% over the 5 years through 2015-16 to ?61.6 million, even though its development got initiated from a very small foundation that comprised of forecast growth 0f 4.2% in the present year.
(Abdulkadiroglu, 2015) Growth has been driven by increasing awareness regarding health as well as demand of consumers in respect of beverages that are considered to be healthy as well as convenient.
The research methods that have been used are known as qualitative research method as well as quantitative research method. The focus of qualitative research is on values, attitudes, beliefs as well as motivations such as focus groups, in-depth interviews, movie reviews, discussions on opinions, observation, panels of consumers, trade and retail audits, pre & post testing, feelings, attitudes as well as family trends.
Quantitative research is associated with the gathering of statistically valid data that can be numerically measured normally with the help of a survey that includes surveys, questionnaires, data methods collections, details of recordings and based on numbers.
Qualitative research is providing a perception of how and why things are as they are. For instance, a market researcher might be stopping a consumer who did the purchasing of a specific kind of flavoured water or fresh fruit juice questioning him about the reason for choosing the specific kind of flavoured water or fresh fruit juice. There exists no fixed set of questions but in its place there takes place the use of a topic guide for exploring different in-depth matters. (Wenzel, 2012) The discussion amongst the interviewer as well as respondent is mostly determined with the help of individual thoughts and feelings by the respondent.
Quantitative research is numerically oriented, requiring considerable attention for measuring the phenomena of the market as well as frequently having the involvement of statistical analysis. For instance, a flavoured water brand might be asking its customers for rating its entire service as excellent, good, poor or very poor. This will be providing quantitative information whose analysis can be made statistically. The major rule in relation to quantitative research is that all the respondents are being asked similar type of questions. It is a very structured approach and generally having the involvement of large numbers of interviews or questionnaires.
Difference between Qualitative and Quantitative Method
Methods are including focus groups, in-depth interviews, as well as reviews
Methods include surveys
Primarily inductive method for formulating theory
Primarily deductive process for testing pre-specified concepts, constructs, as well as hypotheses making up a theory
These methods are more subjective describing a problem or situation from the viewpoint of those experiencing it
These methods are more objective providing observed effects regarding a program in respect of a problem or circumstance
These methods are text-based
These methods are number based
There occurs unstructured or semi-structured response options
There occurs fixed response options
There occurs no statistical tests
There occurs the use of statistical tests to analyze
Time expenditure is lighter on the planning end and heavier during the analyzing phase
Time expenditure is heavier on the planning phase and lighter on the analysis phase
The aim is a complete, detailed description
The aim is classification of features, counting them as well as constructing statistical models for explaining what is observed.
Researcher is the data gathering instrument
Researcher is using tools, like questionnaires or equipment for collecting numerical data
Data is in the form of words, pictures or objects
Data is in the form of numbers as well as statistics
Qualitative data is considered to be more ‘rich’, time consuming as well as having less ability to generalized (Slater, 2012)
Quantitative data is more efficient, having the ability to test hypotheses but might be missing out on contextual detail (Zikmund, 2013)
Researcher tends to become subjectively immersed in the subject matter
Researcher tends to remain objectively separated from the subject matter.
The three philosophies of Ontology, Epistemology and Axiology are existing outside the onion research model. To understand as well as choose a philosophy is a significant step to plan as well as carry out research.
This philosophy is associated with the nature of reality, requiring researchers forsaking themselves the way by which the world is operating, in what ways the construction of society occurs and in what ways will this be influencing everything around. There exist three philosophical positions that are generally functioning under an ontological worldview such as objectivism, constructivism as well as pragmatism.
This is associated with the aspect of addressing the facts about the acceptable knowledge. This philosophy is commonly used regarding scientific research for its searching of facts as well as information that can be proved without uncertainty to a certain extent than situations as well as outlooks that are changing. For further explanation of this philosophical aspect, there is a need for looking at the philosophical positions in relation with it, which is known as positivism, critical realism as well as interpretivism.
This is allowing the researcher for understanding as well as recognizing the roles that are played by their values as well as opinions for collecting as well as analyzing research to oppose the elimination or balancing its impact. (Krueger, 2014)
This layer is containing the philosophical stances in association with the philosophies. Every probable choice at this level is having the requirement of sincere thought as they are providing structure, guidance as well as probable restrictions for following decisional aspects and finally the process by which a researcher will be collecting as well as analyzing data towards the creation of findings that are considered valid. These include objectivism, constructivism, positivism, realism, interpretivism, as well as pragmatism.
This layer is containing the terms deductive as well as inductive. A decision regarding this level will be having a strong indication of the decisions made at the earlier level or there might be the requirement for assessing the aim of the research, the limitations as well as individual viewpoints for deciding which process will be working most effectively in relation to the work. There are two parts of this layer such as deductive as well as inductive. (Zikmund, 2013)
This layer is associated with the strategic aspect such as experiment, survey, case study, action research, grounded theory, ethnography, as well as archival research.
This is the layer for deciding whether qualitative method will be used or quantitative method will get used or both the methods will be used collectively. Quantitative research is having the involvement of the numbers. It is concerned with quantity as well as measurements. Qualitative research is associated with rich data like personal accounts, viewpoints as well as descriptions. (Hollensen, 2015)
Methods are the means through which data is actually designed as well as collected. There are three types of methods such as mono-methods, mixed-methods as well as multi-methods.
There exists the choice of two time horizons such as cross-sectional as well as longitudinal. Cross-sectional is considered to be a short term study whereas longitudinal research is carried over a longer time-period.
This is considered to be the ultimate layer of the onion which is moving the research design more into the reality regarding collection of data as well as evaluation including decisions on sample groups, questionnaire content as well as questions that are required to be asked in interviews and many more.
For fulfilling the research objectives of identifying the market share of the flavored water market in the UK as well as the market share of the fruit juice market in the UK, both primary data as well as secondary data have been taken into consideration.
Primary data is considered to be the data that is collected specifically for a particular purpose, directly from a source that is considered relevant. This kind of data is also known as SPECIFIC. In respect of fulfilling the research objective, primary data was collected in the form of reports, thesis, company annual reports, emails, telephone calls, and data from surveys. (Arvanitis, 2012)
Secondary data is considered to be the data that has already been gathered as well as assembled in respect of other purposes or general reference. This kind of data is also known as GENERIC. In respect of fulfilling the research objective, secondary data was collected in the form of books, encyclopedias as well as newspapers.
There is the availability of many well-developed techniques for the analysis data that is considered to be appropriate. This is required for analyzing the various types of data in both conceptual and statistical manner that can be gathered.
In respect of qualitative data, data analysis techniques that are used related with the development of taxonomies or rubrics in respect of the comments of other individuals whose collection is made with the help of questionnaires. For supplementing the narrative interpretation of such observations, frequency data as well as chi-square analysis can be used. (Gregg, 2013)
In respect of quantitative data, data analysis is done through the availability of different statistical tests, which ranges from the simple (t-tests) to the more complex ones like the utilization of analyzing the factor towards the development of scales.
Tesco, is required operating in an immediate microenvironment that is consisting not just the customers but also comprises of competitors, suppliers, distributors, shareholders as well as other stakeholders in the organization.
In respect of the microenvironment, there will be common economic players such as financial management or establishments as well as factors such as economical trends, there will also be factors in relation to technological aspects such as the growth of e-commerce, also social factors that might be including values, languages, as well as religions and finally political factors will be considered that will be including governments, trade unions, as well as different legal factors. (Hague, 2013)
The effective areas in this respect are market research, product research, price research, sales promotion research, distribution research as well as customer research.
In this respect, the Kotler’s market research process has been used that is associated with defining the problem and research objectives, developing the research plan, collecting the information, analyzing the information, presenting the findings as well as making the decisions.
It can be recommended that for effective market research, there is the requirement of using seven effective characteristics such as scientific method, research creativity, multiple methods, interdependence of models and data, value and cost of information, healthy scepticism, as well as ethical marketing intelligence.
The Gantt chart was made for a 10 months period.
This assignment is discussing about market research where it can be stated that there will be common economic players such as financial establishments as well as factors such as economical trends, there will also be factors in relation to technological aspects such as the growth of e-commerce, also social factors that might be including values, languages, as well as religions and finally political factors will be considered that will be including governments, trade unions, as well as different legal factors.
Abdulkadiroglu, A., Angrist, J. D., Narita, Y., & Pathak, P. A. (2015). Research design meets market design: Using centralized assignment for impact evaluation (No. w21705). National Bureau of Economic Research.
Arvanitis, A., Deligiannakis, A., & Vassiliou, Y. (2012, October). Efficient influence-based processing of market research queries. In Proceedings of the 21st ACM international conference on Information and knowledge management (pp. 1193-1202). ACM.
Berghoff, H., Scranton, P., & Spiekermann, U. (2012). The Origins of Marketing and Market Research: Information, Institutions, and Markets. In The Rise of Marketing and Market Research (pp. 1-26). Palgrave Macmillan US.
Gregg, A. P., & Klymowsky, J. (2013). The implicit association test in market research: potentials and pitfalls. Psychology & Marketing, 30(7), 588-601.
Hague, P. N., Hague, N., & Morgan, C. A. (2013). Market research in practice: How to get greater insight from your market. Kogan Page Publishers.