Assignment:
Case study problems
As marketing manager for Rich's Products in a new geographic market of your choice from those in the case:
1. Conduct a 5Cs and SWOT analyses for Rich's Products including consideration of the characteristics and trends of the healthy eating product category and consumer market, and future opportunities. Justify your analysis using appropriate sources and supporting evidence from the case and other relevant secondary research.
2. From your research of the case and other relevant secondary data sources, how do you perceive the future market for healthy foods for your geographic market? Identify two consumer segments that Rich's Products could target (either in the case or not). Describe each segment (e.g., size, growth, etc.) and create a Buyer Persona describing for each, the segment's profile, activities, preferences, motivations, and pain points. For the identified segments and personas, summarise how they are different or similar from each other. For each Buyer Persona, , how can the consumer perceptions researched and presented by you be addressed by which Rich's Products? For each segment, evaluate the competitors of healthy eating products and brands who may have entered or have the potential to enter the geographic market. Use elements of consumer behavior and market segmentation, targeting and positioning (STP) theory to inform your response.
3. How can Rich's Products proceed and what STP strategy or strategies would you recommend for Rich's Products based on your findings to Q1 and Q2? What one target market from Q2 do you recommend Rich's Products focus on going forward and why? What value proposition, positioning strategy and product(s) would you recommend for this target market? Craft a perceptual map and positioning statement linking the products to your recommended positioning strategy for this target market being mindful of what ethical concerns should be considered when marketing healthy eating products and how Rich's Products should tackle these. How do consumers understand various terms about dietary habits? Are "healthy eating," "organic foods," and "local sourcing" always the same thing? Are consumers themselves clear about these terms? What importance does this have for Rich Products?
4. What other marketing research methods do you recommend to senior management as a follow-up to the ethnography conducted to strengthen the understanding of the healthy eating lifestyle in your geographic market? Provide a detailed research proposal for one of these marketing research methods, including the research process design, research problem/objectives, data analysis procedures and expected marketing insights it should produce. Support your research proposal with relevant theory and justification for your selected marketing research method. In your Appendix (i.e., excluded from the word limit), provide the instruments to be used.
Your arguments need to be supported by your understanding of the company's strategy, strengths, weaknesses, and competitive advantages identified in Q1, in combination with your expectation of the market identified in Q2, with supporting justifications from the case, other sources, relevant theory, your analysis, and acknowledgement of any assumptions. In other words, your solutions to the problems identified in each question should draw on evidence and insights from the case and other relevant sources, and show strong integration across the questions of insights and understanding gleaned from your analysis.
Case Study: Rich's Products and Healthy Eating Consumers: Corporate Ethnographic Techniques
Barretta, Paul G. & Barrett, Molly (2016) Rich's Products and Healthy Eating Consumers: Corporate Ethnographic Techniques. SAGE Publications: SAGE Business Cases Originals.
The case study can be found within the Assessment 1 resources.
Links to other supplementary information that you could use:
Rich's Products Website: www.richs.com