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Transcript of Boomerang
PHIL GOLFI, GERRIT VERMEER, JOHNNY DAROCHA, ADAM JABOURI, DREW PRINSEN
FRIDAY, OCTOBER 5TH, 2012 Boomerang Juice Company Grew from 4 to 26 employees Developed a recyclable dispense drink Began exploring new markets in Asia International market research project
Singapore Not enough money to:
Purchase data reports
Hire an outside research firm
Conduct excessive taste tests Participated in 5 trade shows throughout Asia Boomerang hired a team of in-house researchers Distribution channels in Japan are held by large manufactures, research demonstrated large hurdles in securing a channel for the short-medium term Some Japanese families don't drink juice at breakfast, although have an appetite for low priced organic products large part of the sales are from vending machines Limited marketing budget prohibited Boomerang from competing with the American, Brazilian and Mexican companies. labeling allowed on pre-packaged foods in English Did not have the budget to conduct further market research 800 Supermarkets Weak contacts Population is concentrated, health conscious, large number of English speaking people No label changes required Distributors not only import, but re-export Found a partnership through trade shows QUESTION #1
What types of market intelligence did the Boomerang Juice Company carry out during the course of their limited budget, in-house research? What general types of market intelligence were not conducted? QUESTION #2
How did Boomerang use market intelligence to make their decision to partner with the distributor in Singapore? QUESTION #3
Based on the evidence provided in this case study, did Boomerang's researchers thoroughly investigate the market potential within Singapore? QUESTION #4
What would you recommend as a next step for the Boomerang Juice Company in terms of market research? ANSWER
Researchers identified the country as the "ideal starting point"
Target market was strong and concentrated
More competition in larger markets
WHAT THEY DID NOT ANALYZE
No proof of cost comparison analysis
Lack in identifying their competitive advantage
Consumer behavior ANSWER:
Rigorous selection process which included ranking the distributors by logistics, expertise and export ability.
Selected the country which best suited their current abilities.
Selected a distributor with a large logistics base and 7 years of experience with a ability to export. RECOMMENDATIONS:
Re-invest new capital into Asian market
Focus on Hong Kong
New capital will provide the budget for more effective product labels
Boomerang can conduct further market research for a more suitable Chinese name IN HOUSE RESEARCH:
Allowed for Market Determination
Exposed risks WHAT RESEARCH FOUND:
Japanese juice market was saturated, laws and regulations
Label and packaging barriers in Hong Kong
Singapore's official language is English RESEARCH THAT WAS MISSED:
Real Estate (Start up costs)
Ease of Business The Role of Marketing Research (Chapter 1)
Identify potential opportunities and problems
Generate or assess marketing actions
Monitor marketing performance Key Strategic Questions in International Market Research (Chapter 3)
Which country or countries to enter?
What characteristics to consider?
Which mode of entry and marketing? strategy should be adopted?
What should be the timing of the entry?