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Campbell Soup Case Study Assignment Help
Section I
The Campbell Soup Company is an America based processed food company. It is one of the largest processed food businesses in United State. The prime product of company is canned soup, although it has a grid of products to offer to its customer. Over the years it has acquired a number of other food processing brands such as Pepperidge Farm, Synder’s and Swanson. The company came in to existence in 1869, when a fruit vendor Joseph Campbell and Abraham Anderson came together to create a company. Abraham Anderson was a icebox manufacturer, they both started to produce canned soups, tomatoes, vegetable, minced meat etc. Later Anderson parted ways with Campbell to leave the partnership and company. The iconic Campbell Red colour was inspired from Cornell University’s Jersey which was adopted by company in 1898. A MIT graduate and chemist Dr. John T Dorrance joined the company in 1897 when at a minimum wage of $7.50 per week (Campbell, 2020). He worked in a laboratory at Campbell and invented the formula for condensed soup which reformed the canned soup industry. Dr Dorrance later came to become the president of the company from 1914 to 1930.
Section II
Hypothesis or cause
How can the company expand and improvise its market research methods in order to get better results?
Section III Analysis of Alternatives
Alternate 1: Outsource the Market research
This alternative suggests that Campbell should contract out the task of market research to a third party marketing firm. Outsourcing the research will have a positive impact on the process due to the expertise and experience of the firm (Sharma, G. M., Pereira, M. & Williams, 2015). A marketing firm has a professional and trained staff whose core competency is research which results a far superior report. With this alternative Campbell will get completed report. However outsourcing the research task will incur high cost to Campbell in fees of the marketing firm. Campbell Soup Case Study Assignment Help
Alternate 2: Outsourcing selected jobs like Questionnaire development etc.
Campbell in order to conduct an expert market research can outsource selected tasks to an expert firm and remaining work should be assigned to internal team. This arrangement will be helpful for the company as it can identify the tasks at which the internal team is lacking and hence outsource it (Mesch et.al., 2014). Campbell can contract out the jobs of questionnaire development, survey, customer review, arrangement and sorting of data to an external firm, which will hand over the research report to the company. Subsequently the internal team can analyse the report to form conclusion in regard to the customer satisfaction or demand, their mindset etc.
Alternate 3: Widen the scope of research
Campbell can ask Bob Woodard to conduct a new research focused on the retail stores rather than just customer needs and mindset. This will help the company in understanding the operating methods of the retail stores and the ways in which customers perceive their products at different stores. It is also significant for Campbell to identify the retail stores which are more preferred by the customers which will help the company to select and pitch their canned product to.
Alternate 4: Conduct surveys with internet technology
Conducting surveys is comprehensive process, with use of internet Campbell can conduct rapid and easier survey on Emails. The company can use this alternate to produce more results in lesser time with to the vast reach of the internet. In addition to that Campbell is use tools like Google trends and Google forms to analyse trends and create surveys which can reach a large audience. This is also a cost effective process as most of the services given by Google are open sources hence do not carry any charge.
Alternate 5: Use social media for engagement
Social media is a powerful tool for businesses in current times due to vast usage and ever growing users. Campbell can utilize this platform to its advantage in order to increase its engagement with its customers and find the popular opinion, their requirements, current trends and even their standing against their competitors.
Alternate 6: Review and recommendation on online site
The company should run a review and recommendation embedded in its website, this will help Campbell in interacting directly with its customers (Sarstedt & Mooi, 2014). Through recommendation, the company can get a clearer picture of the requirements and needs of the customers.
Alternate 7: Add experts to internal panel
Another alternative to improve market research can be to employ experts in the internal panel instead of outsourcing the research task (Berghoff, Scranton & Spiekermann, 2012). This will help in enhancing the quality of market research along with lesser cost to the Campbell than outsourcing the whole research. Campbell Soup Case Study Assignment Help
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