These are the slides used in the library workshop for modules BM4501 Marketing Practice and BM4502 Marketing Principles for Kingston University business students. It shows how to embed research found from marketing databases into your writing.
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New product development presentation Kingston University 1st year business undergraduate
1. NPD Workshops | Library Business Team | 2015
Product Research
NPD Workshop
2015
2. NPD Workshops | Library Business Team | 2015
The following slides are examples
of how to transfer the information
you find in the market reports to
your writing.
3. NPD Workshops | Library Business Team | 2015
According to Key Note (2014) Hot Beverages
report, tea continues to be a popular hot drink
in the UK with approximately 165 million cups
consumed each day.
Sales of standard black tea have declined in
the last 3 years but consumption of fruit and
herbal teas has grown(Key Note, Hot
Beverages, 2014).
Executive Summary
4. NPD Workshops | Library Business Team | 2015
Market Sector
This table shows that
from 2009/10 to
2013/14 the value of
the market increased
steadily from £46.5m
to £62.6m.
Source: Key Note (2014) Hot Beverages
5. NPD Workshops | Library Business Team | 2015
SWOT Analysis
Key Note (Hot Beverages, 2014) point out that
there are opportunities for fruit and herbal teas
which can be linked with health benefits.
6. NPD Workshops | Library Business Team | 2015
Buyer Behaviour
According to Key Note research (Hot
Beverages, 2014) younger age groups drink
the least amount of tea and coffee. People in
the 45 to 54 age group drink are the highest
consumers of tea including fruit and herbal
varieties.
8. NPD Workshops | Library Business Team | 2015
At the end of your work you must
provide a list of References. The
next slide gives examples for the
3 market reports databases.
9. References
Key Note (2014) ‘Hot Beverages′. Available at:
http://www.keynote.co.uk (Accessed: 5 October 2015).
Mintel (2014) ‘Tea and Other Hot Drinks′. Available at:
http://academic.mintel.com (Accessed: 5 October
2015).
Passport (2013) ‘Tea in the United Kingdom’. Available
at: www.portal.euromonitor.com (Accessed: 7 October
2015).
10. NPD Workshops | Library Business Team | 2015
These slides will be available on
our Business Blog:
http://blogs.kingston.ac.uk/buslib
Editor's Notes
You will be asked to write about a new product idea. Adding information from the market reports to your writing shows that you have researched the market for your new product.
However, it is important to be selective about what you choose to include in your writing. You will have a word limit.
Here are some tips…
Use the executive summary to refer to how the market is performing – is there growth or decline?
It is very important to indicate in your writing where the information was taken from. As shown here, you must add the database, the report title and date of the report.
These are not direct quotes. Direct quotes would require quotation marks around the text.
Use market size to write about the volume of sales or the financial value of a market.
You can copy and paste a small number of graphs and tables from the market reports but always label them clearly and add your own analysis (as shown here).
Use SWOT and PEST from the reports to show that you understand the issues that will affect your product.
Use buyer/consumer behaviour information in the market reports to show that you know who consumes/is likely to consume the product. It will help you decide on the target market for your new product.
Use the 3 databases shown to you today. These databases will all have a different ‘look’ and they may not use exactly the same headings (e.g. Buyer Behaviour may be called Consumer Behaviour). Don’t be put off!
Business/trade magazines are also acceptable sources for this research – with news and stories about products and product development. Your lecturer is keen for you to look at this magazine The Grocer. Copies of The Grocer are available in PRINT in the journals section of the Nightingale Centre. Come in and take a look. (It can be accessed online (Google) but you wont get the full text of the articles).
You should also be aware of advertising (TV, magazines, outdoors) and advertising spend for products. Go to iCat > Database list >Nielsen Media Research to locate spreadsheets with quarterly advertising spend for a brand category e.g. Tetley teabags
You must refer to the market reports in your writing AND you must also provide References to them at the end.
References to the reports that you have written about, must be included at the end of your writing under the heading References. You will see that that the references here all follow a similar format. This is called the Harvard style of referencing. The layout and punctuation is important!
the name of the database
the year of the report
the name of the report
the website
the date you accessed the report.
Use these examples as templates.
