Explore BrainMass
Share

A New Product Based on Olive Oil

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Throughout the course, you will be developing a marketing research proposal. For this unit, complete the following tasks:

Create your sampling design.

Create your data collection, measurement instrument(s), and data preparation design.

MKT 430
Marketing Research and Buyer Behavior
Unit 1 IP 1
Yolanda M Zetar

A New Product Based on Olive Oil

Contents

1. Introduction.........................................................................3
2. Objectives...........................................................................3

3. Research approach.................................................................3

4. Time required.......................................................................5

5. Cost involved........................................................................5

Introduction:
Olive oil is extremely useful for the human body. It is a mono-saturated fat which decreases low density Lipoprotein (LDL) cholesterol that is responsible for heart diseases. It is a good source of Vitamin E that is a natural antioxidant and Vitamin K that has an important role in blood clotting. It is easier to digest as compared to the other fat. The advantage that is offered by olive oil over the other products of its kind is that it has a higher shelf life.
As more and more peoples are getting conscious about their health therefore, the company is planning to introduce a new product based on olive oil. Before introducing the new product in the market company wants to do a market research. This research proposal involves the objectives, methodology used that is related to this issue.
Research objectives:
The objectives behind this market research proposal are as follows:
1. To estimate the domestic use of olive oil.
2. To identify the competitors that is expected to be faced.
3. Promotional platforms that is required for acquiring the product.
Research approach:
The approach which we would use to perform this market research involves both qualitative and quantitative techniques. This approach would help us to identify:
1. How many households are currently using Olive oil?
2. What is the main use of olive oil?
3. What are the current prices charged?
4. What are the bottle sizes?
5. What are the promotions that are currently used?
6. Who should be the target?
Qualitative research:
Qualitative research used would help to identify the factors that could spoil the olive oil, place where the olive oil could be kept safely, current use of olive oil, division of customer on the basis of consumption.
Quantitative research:
Quantitative research would be conducted by the help of telephonic interviews that are based on the following sample questions:
1. Do you use olive oil?
2. Are you aware about the benefits of olive oil?
3. What is the average monthly consumption?
4. Are you happy with the current price of olive oil?
5. What are the other changes you required in the packaging and pricing of olive oil?
Division of activities:
Activity Expected duration required for completion
Identifying research objective 2 days
Staff selection 7 days
Qualitative research 7 days
Quantitative research 5 days
Analysis (cost etc.) 2 days

Analysis:
The time required to complete the entire market research is 23 days.
The expected cost that would be involved in this market research would be around $20,000.
Conclusion:
This market research proposal would help in identifying the expected cost and time that would be involved in completion of the market research. It also helps in making a rough estimation of all the problems and activities that are associated with the introduction of new olive oil product in the market.

Human Resource Administration
Unit 2 IP 1
Yolanda Zetar

There are a countless number of assessment test that are used to analyze a variety of aspects about prospective candidates. These tests are used to identify their abilities, character and appropriateness for the available position. There are cognitive-ability test that measures candidates' flexibility, learning ability, attention to detail and ability to multi-task. Cognitive ability assessment is a leading global assessment measuring a candidate's potential aptitude. With the current skills shortage crisis, employers are using psychometric assessments that measure cognitive ability to hire more people who can produce 40% more. By doing this, employers actually need fewer people to do the same amount of work! (http://www.onetest.com.au/home/products/assessments/cognitive.cfm)

The rationale of using varieties of assessment tests or screening tests is to review the aspects of a candidate's capability and personality to determine their suitability for the position rather than decisions solely based on his qualifications from experience and formal education. The tests help the selection professional to observe in depth views of the candidate's personality.

These tools are an instinctive part of the pre-screening process of candidates to have cleared the preliminary or minimum job requirements for the job. After these requirements are met, they are screened on other aspects to be selected for a final interview. These assessments can be customized to receive comprehensive information about the candidate to the interviewer.

The employment interview is probably the most commonly used assessment tool. The interview can range from being totally unplanned, that is, unstructured, to carefully designed beforehand, that is, completely structured. The most structured interviews have characteristics such as standardized questions, trained interviewers, specific question order, controlled length of time, and a standardized response evaluation format.

The rationale of employment interviewing is used in the extent to which the interview is structured. The skill of the interviewer can make a difference in the quality of the information gathered. A skillful, trained interviewer will be able to ask job-relevant follow-up questions to clarify and explore issues brought up during the interview pertaining to the vacant position

Assessment instruments may provide you with important employment-related information about an individual. However, no assessment tool is 100% reliable or valid; all are subject to errors, both in measuring job-relevant characteristics and in predicting job performance. Moreover, a single assessment instrument only provides you with a limited view of a person's qualifications. Using a variety of tools to measure skills, abilities, and other job-relevant characteristics provides you with a solid basis upon which to make important career and employment-related decisions and minimizes
adverse impact.

References:

http://www.callcentermagazine.com/shared/article/showArticle.jhtml;jsessionid=NQATTDJHRN4IYQSNDLRCKH0CJUNN2JVN?articleId=59300858
http://www.careertools.org/pdf/99-testassess.pdf

© BrainMass Inc. brainmass.com October 24, 2018, 10:03 pm ad1c9bdddf
https://brainmass.com/business/marketing/a-new-product-based-on-olive-oil-146889

Attachments

Solution Preview

The response addresses the queries posted in 1190 words with references.

//Before writing about the research objective for the given topics, it is essential to know about the role of 'Olive Oil'. One should know about the uses of olive oil, which further will aid in analyzing the research objectives, in an effective manner.//

Contents

1. Introduction.........................................................................3

2. Objectives...........................................................................3

3. Research approach.................................................................3

4. Time required.......................................................................5

5. Cost involved........................................................................5

Introduction:

Olive oil is extremely useful for the human body. It is a mono-saturated fat which decreases low density Lipoprotein (LDL) cholesterol that is responsible for heart diseases. It is a good source of Vitamin E that is a natural antioxidant and Vitamin K that has an important role in blood clotting. It is easier to digest as compared to the other fat. The advantage that is offered by olive oil over the other products of its kind is that it has a higher shelf life.

As more and more peoples are getting conscious about their health therefore, the company is planning to introduce a new product based on olive oil. Before introducing the new product in the market company wants to do a market research. This research proposal involves the objectives, methodology used that is related to this issue.

//Above is the discussion of role of Olive Oil. Moving to the next part of the directions, explanation about the Research objectives, Research approach, Qualitative research and Quantitative research is to be thrown light upon.//

Research objectives:

The objectives behind this market research proposal are as follows:

1. To estimate the domestic use of olive oil.

2. To identify the competitors that is expected to be faced.

3. Promotional platforms that is required for acquiring the product.

Research approach:

The approach which we would use to perform this market research involves both qualitative and quantitative techniques. This approach would help us to identify:

1. How many households are currently using Olive oil?

2. What is the main use of olive oil?

3. What are the current prices charged?

4. What are the bottle sizes?

5. What are the promotions that are currently used?

6. Who should be the target?

Qualitative research:

Qualitative research used would help to identify the factors that could spoil the olive oil, place where the olive oil could be kept safely, current use of olive oil, division of customer on the basis of consumption.

Quantitative research:

Quantitative research would be conducted by the help of telephonic interviews that are based on the following sample questions:

1. Do you use olive oil?

2. Are you aware about the benefits of olive oil?

3. What is the average monthly consumption?

4. Are you happy with the current price of olive oil?

5. What are the other changes you required in the packaging and pricing of olive oil?

// Above is the discussion of Research objectives, Research approach, Qualitative research and Quantitative research. Now, as per the directions, explanation about the Division of activities and Analysis is to be taken into account.//

Division of activities:

Activity Expected duration required for completion

Identifying research objective 2 days

Staff selection 7 days ...

Solution Summary

The response addresses the queries posted in 1190 words with references.

$2.19
See Also This Related BrainMass Solution

Real Wage for Net Domestic Products

1. Describe the different phases of the business cycle, and outline how unemployment, inflation, and GDP growth will change in the different phases of the cycle.

2. a. If the CPI in 2005 is 134.5, and the CPI in 2006 is 140.5, what rate of inflation has occurred between 2005 and 2006?

b. The survey of spending in Athena shows that people consume only olive oil and grapes. In 2005, the year of the survey and also the base period, the average household spent $80 on olive oil and $50 on grapes. The price of olive oil in 2005 was $8 per bottle, and the price of grapes was $10 per gallon basket. In 2006, the price of olive oil is $8 per bottle, and the price of grapes is $12 per gallon basket. Calculate the following:
i. the cost of the CPI basket in the base period

ii. the percentage of the average household budget spent on olive oil in the base period

iii. the CPI in 2006.
3. State whether each of the following is a consumption good, an investment good, or both, and explain your choice.
a. the Mackenzie pipeline
b. a loaf of bread
c. a taxi-cab
d. a tennis racquet
4. In one day, Canada can produce either 200 tonnes of wheat or 90 tonnes of copper ingots. In one day, Chile can produce either 120 tonnes of wheat or 175 tonnes of copper ingots. Based on these numbers,
a. calculate Canada's opportunity cost of one tonne of wheat.

b. calculate Chile's opportunity cost of one tonne of copper ingots.

c. who has a comparative advantage in producing copper ingots? Why?

d. how many tonnes of wheat and how many tonnes of copper ingots will be produced if each country specializes?
5. Explain how each of the following events will influence the demand or supply of beef, and predict the change in equilibrium price and equilibrium quantity.
a. A major health study implicates beef as a prime source of cholesterol that contributes to heart disease.

b. A new breed of cattle is developed that processes food more efficiently in gaining market weight.

c. Consumers' incomes increase.

d. China and Japan start buying much more beef.

e. Land used for cattle grazing is now used for raising soybeans and hemp, and for dude ranch tourism.
6. The following table gives Canada's national accounts in 2004.
Item (in billions of dollars) Amount
Consumption expenditure 379

Government expenditure 99

Interest and investment income 48

Profit of corporations and government enterprises 80

Income from farms and unincorporated businesses 40

Gross investment 176

Net exports 14

Wages, salaries, and supplementary labour income 365

Capital consumption allowance 60

Indirect taxes less subsidies 75

a. Calculate GDP using the expenditure approach.
b. Calculate GDP using the income approach.
c. Calculate net domestic product at factor cost.
7. Calculate the real GDP in each year, assuming that the nominal GDP was $559 billion in the base year, $577 billion in year one, and $605 billion in year two; and that the price index rose from 100 to 104.5 in the first year, and up to 108.3 in the second year. If the price index 20 years before the base year was 41.2, and the nominal GDP for 20 years before the base year was 191.0, what was the real GDP for that year? Show your work in all cases.

8. Calculate the real wage for 2004 and 2005 based on the following:
• the nominal wage in 2005 increased from $19.50 per hour to $21.00 per hour
• the real wage in the base year 2003 was $18.00 per hour
• the GDP deflator was 103.6 in 2004 and 106.7 in 2005.
Comment on the different growth rates of nominal and real wages in that three year period.

9. Explain four sources of bias in the CPI, and the two main consequences of this CPI bias.

10. Statistics Canada reported that in July 2004, the Canadian labour force was 19.65 million, Canadian employment was 18.32 million, and the Canadian working-age population was 27.13 million. Calculate
a. the number of people unemployed in July 2004
b. the unemployment rate in July 2004
c. the labour force participation rate in July 2004.
11. Draw an aggregate demand/aggregate supply diagram for each of the situations below. In each diagram, predict the shift of AS and/or AD (label the axes fully), and explain why you have chosen each shift. Assume that you are at full employment as the starting point in each case.
a. The Bank of Canada decreases interest rates.
b. The Canadian government increases spending on new programs.
c. A booming economy in the United States increases Canadian exports.
d. Canadian corporate tax rates are reduced.
e. Canadian personal income tax rates increase to help fund the public debt.

View Full Posting Details