Institute for Financial Management and Research
- My Experiments with Truth
Bewilder the Intrepid Geeks
My Experiments with Truth:
Market Research Event
The nuances of Market Research have just become all the more interesting. You may have
done it in the past, but this time this event is back with a difference – for a change,
everything is real about it, from the product to the prize money. Are you ready to sweat it
out in the market and feel the pulse of the customer? Coz today “The Customer can even
dismiss the CEO.”
First Prize : Rs. 10000
Second Prize : Rs. 6000
Stage I: The product details such as Product Name, Value Proposition, Positioning
Statement (if any) and the Objective of the Market Research is uploaded on the website
The Participants will be required to send their executive summary as a soft copy on or
before 5th January 2007.
The executive summary should broadly contain the following aspects:
• Type of Research
• Sample size taken for research
• Target Customers
• Research Procedure
Stage II: The first round results will be announced on or before 07 January 2007.
Stage III: The short listed teams are required to submit their complete report on or before
18 January 2007. They will be invited for a presentation to be held on January 20th and
21st 2007 at IFMR, Chennai campus. They will present before the judges from industry and
participants will have to defend their Research work in front of some of the best brains
Rules and Regulations:
• There is no Registration for the event.
• Maximum of four students per team.
• No participant can be part of more than one team.
• There can be multiple entries from the same college.
• The Answers should be mailed to email@example.com with the subject line
as <Team Name>-<College Name>.
• The mail should contain Team Member names, email IDs and individual Phone
• Organizers are not responsible for non-receipt of email submission due to the failure
of email network providers before deadline.
• The executive summary should be in Times New Roman font, Size 12 with single
• The front page of the document should contain the names of the participants, their
mobile number and email ids. The identity of the participants should not be revealed
in any other part of the document.
Market Research Case:
THE MMM SPICES AND SOUPS COMPANY
MMM is one of the leading players in spices and soups market of the United States
for the last 25 years. The company was started in the year 1980 with an investment of
$2000 by Mr. Michael Spice in Kentucky. Over the years the company grew well becoming
the market leader within a period of 5 years and sustaining its position till date. The
company’s USP is premium fresh spices and soups. The spices and soups are known for
their high quality and thus attracted a huge premium over the other players.
As years went by, more and more players entered the market, promising the same
quality at a much lower price. So Mr.Spice had to think of expanding the business to other
countries. He thought India would be an ideal market to start its expansion with because
the people of India use spices extensively in their food and the soups market is also
growing. Also, it was easy to tap the Chinese and south east Asian markets once the
company establishes itself in India well
However, Mr.Spice was skeptical about the success of the brand given the fact
that the spices and soups market in India is highly competitive. He also had his doubts
whether a foreign brand would be able to strike a chord with the Indian customers or not.
He decided that he would deploy the fresh talents from some of India’s premier B-
Schools to conduct a research and make a presentation to him. The spices and soups were
about to be launched in the name of MMM soups/ MMM spices. The Spices range of
products contained Chilly powder, coriander powder, pepper powder and turmeric powder.
The soups range contained tomato, sweet corn, baby corn, mushroom and sea food tofu.
Mr.Spice had many a doubts lingering in his mind. Whether the range of products is
sufficient, does he need to knock off or add any products into his range? What should be
the ideal price at which he should sell his products? Should he position his brand as a
premium or value-for-money brand?
Mr.Spice being a systematic person is a very tough customer. He would not buy
any recommendations unless he is thoroughly convinced about the methodology of the
study, the type of tests that were deployed and also the justifications for each and every
step of the research work.
Mr.Spice thought Abhyudaya 2007 – the annual B-School fest of IFMR Chennai
would be an ideal forum to hear to the presentations by the students. Being an event
where the management students from all over the country participate, he could not think
of a better place. Could he? He very well knows that quality talent and quality ideas are
not easy to come by. So he has announced attractive prize money as well. Who are the
students who are going to crack this problem? Which is the B-School that will come to the
limelight is some thing we have to wait and watch.
Sunny Gupta + 91 98843 81551
Aji John + 91 98425 87579