Market research is vital for a new venture (e.g. product introduction, capital investment, new market). The information gained from market research is analyzed to set the stage for the business decisions to follow.
Our company has undertaken a number of market research studies, obtaining original data for analysis. Recently, we assessed the potential for food innovation in Canada through a nationwide survey of stakeholders such as technical directors of food companies, managers of independent R&D services, university and college professors involved in food research, government personnel involved in research and in supporting industry research, etc. We looked at the key factors involved in supporting or impeding innovation. We also compared the Canadian experience with other centres of innovation, most notably Food Valley in the Netherlands. This study, which integrates our knowledge of food technology with that of the business environment, has increased our understanding on how best to help our Canadian food companies.