Marketing Research Report
Executive Summary
This market research report highlights the trends in the environmental market for Bonnie Bio Certified Compostable plastic alternatives company. The report highlights some of the questions of the study and gives a detailed analysis of the market status. The hazards of plastic use are highlighted, and why firms should turn to non-plastic materials are also provided. The report also identifies some critical stakeholders in manufacturing, sales, distribution, and consumption of plastic alternatives. The research was conducted on a sample size of 15 people who were mainly defined based on their different demographics. In the end, a way forward for the company is given based on the historical data obtained.
Introduction
Bonnie Bio is an international firm offering solutions to plastic pollution. The bio-oriented firm deals with cornstarch products essential in reducing plastic effects on the environment. Bonnie bio’s developments are internationally certified and sold worldwide through its established branches (Barclay, 2021). Most of its solutions are based on the FMCG consumables and trade packaging products which nevertheless do not pollute the environment when disposed of. Therefore, the firm aspires to create an environmentally clean atmosphere.
This research seeks to understand the trend in sales of these alternatives. The market research will establish some of the marketing strategies used and those that ought to be used by Bonnie Bio to sell products. The statistical analysis offered in this report is essential in decision-making. Therefore, the report’s main aim is to issue checks and balances on how plastic alternatives are used and modified to solve environmental problems.
Focus Group
The survey was both qualitative and quantitative, and it involved questionnaires administered to prospective customers, suppliers, environmentalists, and other companies. Data obtained from the two methods of data collection, questionnaires and interviews, was first quantified to allow statistical analysis, which would eventually establish the trend in sales volumes of the firm.
Questionnaires are usually preferred for their ability to reach many people within a short time. Some of the questions asked during the interviews and in the questionnaires were;
- In your view, how are Bonnie Bio’s products essential in protecting our environment?
- Do you think the sales for the company are increasing or decreasing?
- Where do you see the firm in the next five years?
- What is the current marketing strategy used by the firm? Is it effective? What can be done to improve it?
- Apart from cornstarch products, what other items would be used as alternatives to plastics?
Answers to these questions would provide insights into the situation of environmental pollution in the world.
The survey’s participants had needs that they wanted the study to fulfill. They needed to know the alternative methods of producing plastic alternatives and the measures that would increase the firm’s sales volume. The participants also needed to understand the implications of the new commodities on the environmental businesses. Many believed that trading activities would increase with the insertion of new modern products and services into the platform. Finally, most concluded that Bonnie Bio Certified Compostable would likely experience higher future sales and gain more entry into the international market.
The focus group consisted of people of different ages, races, religions, and ethnicity and people with other marital statuses and gender. While issuing interviews, level of education, work experience, and income levels played critical roles in understanding the trends in non-plastic product use. The study involved a sample size of 1000 individuals who responded through the questionnaires and interviews. Therefore, owing to these demographic factors, the research findings are deemed to be factual and provide correct insights into the sales phenomenon of the firm.
Survey Activity
We also introduced a survey whose main objective was to introduce Bonnie Bio Certified products in Publix Supermarket in Martin County, FL, to be available for sale to their customers and shelves since it offers compostable products only. In this case, Publix Supermarket must introduce new developments in its inventory. Some of the answers expected to be heard from the respondents are whether they are open to buying and trying the latest products and whether they are aware of the environmental benefits that come with the use of such products.
Focus Group
The study had ten respondents whose ages ranged between twenty to sixty years. The respondents had different racial backgrounds, which enhanced the likelihood of identifying various perspectives concerning the topic of interest. The respondent group in the study was made up of male and female participants, and their income levels ranged between sixty thousand to one hundred and fifty thousand dollars. This also enhanced the likelihood of identifying people’s perspectives from different social classes regarding the research topic.
Survey Results
80% of respondents in the study responded that they were aware of the dangers of plastic non-compostable goods in the environment. On the other hand, 20% of the participants indicated a slight idea of the dangers, while none of them stated that they did not know anything.
Figure 1: Responses
60% of the respondents in the study indicated that they were willing to start using compostable products rather than plastic if that means they will end up playing a role in protecting the environment. On the other hand, 40% of the participants indicated maybe as their answer, with none of them responding using no and I do not know.
90% of the participants in the study indicated that they preferred recyclable bags more than plastic ones. On the other hand, 10% of the respondents stated maybe as the answer to the question.
Quality was one of the problems that a high number of respondents indicated having a problem with when it comes to using recyclable products. Respondents stated rate as the problem, while two highlighted the costs involved. Two showed accessibility as their most significant problem, while two highlighted cost and accessibility.
90% of the respondents indicated that plastic bags are an excellent issue for the environment, while 10% indicated that it was not an issue.
70% of participants in the study responded that the stores they visit regularly had compostable non-plastic products for sale. On the other hand, 10% indicated that their stores did not have the effects.
30% of the respondents indicated that they believed compostable products were costlier than plastic ones.
50% said compostable products were cost-effective when they had environmental benefits. 10 % indicated that compostable and plastic products’ prices are equal. 10 % considered compostable products to be cheaper than plastic ones.
70% of respondents indicated they would be willing to try the product if they saw its logo at the Publix Supermarket, while 30% gave maybe as their response.
Data Analysis
The following sales data was obtained from the marketing research on Bonnie Bio Certified Compostable products.
| Bonnie Bio Sales Volume | |
| Year | Sales Volume (B) |
| 2011 | 6 |
| 2012 | 10 |
| 2013 | 14 |
| 2014 | 21 |
| 2015 | 21 |
| 2016 | 25 |
| 2017 | 30 |
| 2018 | 32 |
| 2019 | 43 |
| 2020 | 47 |
| 2021 | 48 |
