Potential Market for Veal Production in UK

95250-74930000Potential Market for Veal Production in UK Your Name Course Tutor Date Contents TOC \o "1-3" \h \z \u 1.0 Executive Summary PAGEREF _Toc10232775 \h 22.0Opportunity Identification Perspectives PAGEREF _Toc10232776 \h 22.1 Opportunity as a Creation PAGEREF _Toc10232777 \h 22.2 Neo Classical Perspective PAGEREF _Toc10232778 \h 43.0 Analysis of Potential Market for Veal Production in UK PAGEREF _Toc10232779 \h 43.1Welfare for the Rearing of the Calves PAGEREF _Toc10232780 \h 74.0 Basic Marketing Intelligence PAGEREF _Toc10232781 \h 75.0Qualitative and Quantitative Market Research PAGEREF _Toc10232782 \h 85.1Advantages of Using Qualitative Research PAGEREF _Toc10232783 \h 85.2 Disadvantages of Qualitative Data Analysis PAGEREF _Toc10232784 \h 85.3 Advantages of Quantitative Data PAGEREF _Toc10232785 \h 95.4 Disadvantages PAGEREF _Toc10232786 \h 96.0 Research Method to Be Used PAGEREF _Toc10232787 \h 97.0 Future Research PAGEREF _Toc10232788 \h 10 1.0 Executive Summary McLennan Traditional Foods Ltd is a company located in the UK that majors in the production of traditional foods. The company specializes in the production of the traditional foods which is later distributed to different restaurants in UK. Veal is one of the common meals produced by the company. In most countries such as the UK, the production of veal is closely associated with the dairy industry. Most of the male dairy calves are used in the production of veal since they are considered unsuitable for the production of beef. The veal industry has been affected by legislation due to welfare of the animals. However, there is still a demand for veal meal in the UK. Before 1997, there were over 400,000 calves exported to UK for the production of veal. However, due to the enactment of legislation to support animal welfare, BSE was enacted which led to a lower demand for the veal products. The purpose of this report is to carry out a market evaluation to evaluate the possibility of expanding veal production in the UK. The report will identify the appropriate academic models that were used in the identification of the market opportunity and the different reasons why we do believe that there is still a market opportunity for veal production in UK. 2.0Opportunity Identification Perspectives 2.1Opportunity as a Creation This perspective was well explained by Shackle (1961) who said that through imagination, one can create a market opportunity that never existed before. The opportunity is in the mind of an individual and the individual needs to put the idea about the opportunity into action. Creativity is also recognized as an important factor in the identification of these opportunities. Creativity involves forming a combination of different resources that are already existing in the environment to form a superior product that is then presented to the marketCITATION Det04 \l 1033 (Detienne & Chandler, 2004). The entrepreneur will not only introduce the new product or service in the market but they will also be required to change the market conditions surrounding the production of the product CITATION Sha61 \l 1033 (Shackle, 1961). In relation to veal production, this perspective requires us to have a deep look at the veal market in UK and identify the exi...