The 12 Ingredients of Successful Market Research
Posted: Sun Apr 27, 2025 4:42 am
Study of a hypothetical example of a frozen vegetable industry that needs market research
Case Study: Frozen Vegetable Industry “Fictional name: Frozenaki”.
Business History
“Frizenaki” is a food industry specializing in the production of high-quality frozen vegetables. Its headquarters are located in Attica, while its products are available through large supermarkets and retail stores throughout Greece. The company has been operating in the market for over 15 years and has acquired a stable customer share. However, the management observes recent challenges that affect its growth.
The Problem
Frozenaki has seen a decline in sales over the past 12 months, while it is phone number data seeing increased competition from foreign companies entering the Greek market with frozen products at lower prices. It has also identified a growing demand for products labeled as “organic,” but is unsure whether it should introduce a corresponding product line.
Objective of Market Research
The market research will focus on the following:
Understanding the reasons for declining sales.
Analysis of demand for organic frozen vegetables.
Evaluation of the competitiveness of existing products in terms of quality and price.
Investigation of frozen food market trends in Greece.
Identifying opportunities for new product categories or strategy adjustment.
Components of Market Research
Case Study: Frozen Vegetable Industry “Fictional name: Frozenaki”.
Business History
“Frizenaki” is a food industry specializing in the production of high-quality frozen vegetables. Its headquarters are located in Attica, while its products are available through large supermarkets and retail stores throughout Greece. The company has been operating in the market for over 15 years and has acquired a stable customer share. However, the management observes recent challenges that affect its growth.
The Problem
Frozenaki has seen a decline in sales over the past 12 months, while it is phone number data seeing increased competition from foreign companies entering the Greek market with frozen products at lower prices. It has also identified a growing demand for products labeled as “organic,” but is unsure whether it should introduce a corresponding product line.
Objective of Market Research
The market research will focus on the following:
Understanding the reasons for declining sales.
Analysis of demand for organic frozen vegetables.
Evaluation of the competitiveness of existing products in terms of quality and price.
Investigation of frozen food market trends in Greece.
Identifying opportunities for new product categories or strategy adjustment.
Components of Market Research