Bachelor of Business Year 3

Applied Marketing

Market Power Analysis

And

Blind testing

Submission date: 26th November 2008

Executive Summary

In this report we present an evaluation of the Irish bread market and its current position in
today‟s economy. We have evaluated some of the main competitors in the Irish bread market
and conducted market research on the industry by means of a survey and blind testing
analysis.

We defined the bread market within the Irish industry. We identified the main competitors in
the Bread Market, such as Gallagher‟s, Johnston Mooney& O Brien, Pat the Baker, O‟Hara‟s
and Irish Pride.

We carried out a survey on fourteen different stores across County Sligo. We collected data
to enable us comprise the information into statistics of the market share and the relative price
held by each of the brands across Ireland. By analysing the relative pricing and the market
share of each brand we have estimated their market power. Pat the Baker has the highest
market power in the market for white sliced pan.

We carried out blind testing on the various different brands i.e. Pats Pan, Milford, O‟Hara‟s
etc, to assess whether the price differentials are linked to measurable quality differences.
From our results; Taste Test 1: Participants tried to identify their chosen “favourite” brand.
Taste Test 2: Participants had to rate out of ten each of the seven brands. Pat the baker
ranked number one. Taste test 3: Participants had to re-taste each of the brands with
knowledge of brands identity. Pat the Baker came out on top again.

We kept an account of the timetable of work which included the minutes and the star rating.

From our marketing analysis study it became clear that “Pat the Baker” was the leading brand
name in terms of market share. In terms of relative price analysis, it varies between each shop
outlet however those leading brand names such as “Pats Pan” with a higher market share
were being sold at a much more expensive price than those with less of a market share and
„Own Brands‟ held a relatively large share of the market with 11%. The result of our blind
testing showed Tesco brand bread coming out as one of the most popular. However on a basis
of market share investigation Tesco was shown to have a low market power. This would lead
us to the conclusion that perceptions of people will inevitably undermine quality.

2
Table of Contents

1.0 Introduction ..................................................................................................................... 4

2.0 Analysis........................................................................................................................... 5

2.1 Definition of Market.................................................................................................... 5

2.2 The main competitors in the Bread Market are as follows: ........................................ 6

2.3 Market Share Analysis ................................................................................................ 8

2.4 Relative Pricing Analysis ............................................................................................ 9

2.4.1 Own Brands ......................................................................................................... 9

2.4.2 Correlations .......................................................................................................... 9

2.5 Market Power Analysis ............................................................................................. 12

2.6 Blind Testing ............................................................................................................. 14

3.0 Conclusion .................................................................................................................... 17

4.0 Appendix ....................................................................................................................... 19

5.0 References ..................................................................................................................... 25

3
1.0 Introduction
Despite the decline of the family owned bakery, the value of the Irish bread market continues
to grow. For those bread manufacturers producing a high Quality, consistent product at a
competitive price, a shareholding of the Irish market is a valuable asset.

Recent market research has shown that bread is no longer perceived as a single product, but a
range of products serving varying needs and demands in niche markets. The market is mature
and saturated. It has suffered from changing lifestyles, eating habits and other difficulties,
such as huge competition and rising costs, especially in terms of energy and raw materials.
Over the years, the market has faced up to impeding challenges and managed to retain
momentum, owing to investment in marketing studies and new product development by both
manufacturers and retailers alike.

Bread has been an important staple food product to many cultures over the centuries. It is
convenient, adaptable, nutritious and tasty and is arguably the ultimate convenience food.

As a group of third year Business Studies students we have evaluated the Irish bread market
and its current position in today‟s economy. For our study we have evaluated some of the
main competitors in the Irish bread market and conducted market research on the industry by
means of a survey and blind testing analysis, to name a few.

As a group we also carried out a survey on numerous different stores across our locality to
evaluate the market share and pricing analysis held by each competitor in the industry. All
relevant data was compiled into statistics of the market share and the relative price held by
each of the brands across Ireland. These statistics would then allow us to gain a better
understanding of the bread market while also enabling us to assess trends that may influence
the market power in the industry.

4
2.0 Analysis

2.1 Definition of Market

In today‟s world consumers tastes and demands are forever changing. In Ireland the bread
industry is highly competitive, with bread also being a major competitor in the Irish Food
Industry. There is so much competition out there with huge household brands competing for
shelf space and sales in the Irish market. Such brands include Pat the Baker, Milford,
Brennan‟s, O‟Hara‟s, Gallaghers, Irish Pride Johnston Mooney & O‟Brien‟s and Hovis.
Others include own brands such as Dunnes and Tesco sliced pans.

Despite the huge consumption of bread in Ireland, the industry has not always been viable.
This was due to a number of factors:

 The sheer number of bakeries in operation led to negative competition and price wars.
 There was a need for a different management focus – a lack of management and
market information hampered decision-making processes.

Most bakeries operated manual ordering and distribution systems – new technology would
reduce product wastage and allow bakeries to respond to market needs at a greater speed.
New and more efficient technology meant that the quantity of bread produced could be as
close to the quantity sold as possible.

Bread is among the largest of Ireland‟s grocery market – it is estimated to be worth €315m at
retail prices per annum, with an average of five loaves purchased per household per week.
Sliced pans account for nearly 70% of the total bread sales and are a “must by” on most
family‟s weekly shopping list.

However, Ireland‟s bread consumption is nowhere near that of her European neighbours.
Ireland‟s per capita consumption is estimated at 107g, whereas French eat 150g per day and
the German‟s consume 200g daily. With the increasing popularity of speciality breads (Naan,
Pitta, Bagels) morning goods (croissants, brioche etc) and bake-off (frozen breads which
allow the retailer to bake fresh bread on their premises) the Irish bread market is set to
experience steady growth over the next few decades.

5
2.2 The main competitors in the Bread Market are as follows:

Gallagher’s

Gallagher‟s is located near Ardara in Co. Donegal. It is ideally placed to serve markets in
both the Republic of Ireland and Northern Ireland. The bakery has excellent road links to the
west and midlands of Ireland, along with Northern Ireland. Gallagher‟s understand the
importance of maintaining a first-rate delivery service. They thrive on the quality and
freshness of their products and they aim to satisfy their customer needs by delivering on time
every time. It is a family run business with the skills passed down from generation to
generation. Gallagher‟s is ranked among the most progressive and most successful bakeries
in the country

Johnston, Mooney & O’Brien

Johnston Mooney & O‟Brien has been in operation for more than 171 years in Ireland. Their
aim is to provide their customer with a range of traditional bread to suit every need. The
company operates from 2 bakeries in Ireland, one is a dedicated bun and morning goods
bakery and the other is a dedicated bread bakery, both plants are based in the north-side of
Dublin. Johnston, Mooney & O‟Brien is currently one of the leading manufacturers of
hamburger buns in Europe. Their promise is to offer an excellent overall service to all their
customers by continuing to achieve high quality products

O’Hara’s

Running since 1951, established in Foxford, Co. Mayo. The kneading of quality ingredients
and technological know-how has resulted in a well-balanced product range of over 100
confectioneries and some 40 breads both wrapped and speciality breads. O‟Hara‟s is known
not only for their variety of breads but is the number one cake manufacturer in Ireland. It has
won numerous awards including “The Supreme Award” which is the overall winner of all

6
manufacturing companies in Ireland. O‟Hara‟s delivers nationally and has developed in both
the UK and USA.

Irish Pride

Irish Pride is one of the largest bakery companies in Ireland. It has grown significantly over
the past number of years. Irish Pride bakeries are located in counties Mayo and Wexford.
They manufacture a range of wrapped bread, speciality breads and soft rolls. Its main
bakeries include Irish Pride, Lydon House, Kiely‟s and Keatings.

Pat the Baker

Pat the Baker is Ireland‟s champion baker for bread. Over 50 years in business, with over 400
employees and offices throughout Ireland, Pat the Baker brand name is known in every
household across the country. Pat the Baker was founded in 1953 in Granard, Co. Longford.
Since then the bakery has been continuously expanded to meet growing demand. The
freshness is reflected in their slogan “So fresh, it‟s famous” which is now part of the
corporate logo and is readily identifiable with the company.

All of the above are huge competitors constantly fighting and competing with each other for
sales and shelf space in the supermarkets. All bread companies are continuously innovating
and trying to come up with the “next best thing” in the bread market. As consumers tastes are
constantly changing it is necessary to keep up with change and people‟s preferences and
tastes.

For our project we have decided to focus our study on white sliced pans as they account for
nearly 70% of the total bread sales. The competitors listed above are part of a brand market in
the market for bread. Brand markets exist where there are many competitors but the company
has built market power by product differentiation and controlling the customer relationship
through developing the brand loyalty. A Brand is a product name and logo owned by a firm
and used to identify the firm‟s products in the marketplace. Each bakery brand carry a range

7
of the traditional white sliced pan and supply it to the market in every outlet the brand is
available in.

2.3 Market Share Analysis

In our study we carried out a survey on fourteen different stores across County Sligo. We
collected data to enable us comprise the information into statistics of the market share and the
relative price held by each of the brands across Ireland.

(Please see (fig 1.1) to (fig 1.09) for all statistical data)

By bringing all the results from the initial research together it was possible to analyse the data
as follows…

By viewing (fig 1.1) you can see the results of market share among the fourteen researched
stores. Here it is visible that “Pats Pan”, or “Pat the Baker” is the leading brand in terms of
market share, with a 16% share of shelf space through the fourteen stores. After that comes
“Gallaghers” bread with 13%.

It is worth noting that the brands that scored 0%, did so as a result of having a percentage of
market share lower than 1%. These brands as well all those who scored under 4% are all
brands who were only available in one of the fourteen stores visited. In comparison, “Pats
Pan” was available in ten stores, as was “Gallaghers”. Thus the two brands with the highest
market share were available in the most stores, and the brands with the lowest market share
were available in only one.

The approach to calculate market share was based on the amount of stores in which the bread
was available. This approach gave each store “one fourteenth” of the overall market share of
bread available. This approach was taken as although Tesco, for example, may have a larger
allocation of space available for bread than a small corner shop, the percentage of shelf space
allocated to bread in both shops will be similar. So although Tesco may have more bread, and
more customers than a smaller shop, this may be in part due to the fact that Tesco is a much
larger shop.

8
2.4 Relative Pricing Analysis

Looking at (fig 1.2) illustrates the prices among the different brands throughout the fourteen
stores. It is notable that some stores have quite a mark up on the bread. For example,
Costcutters charged €1.29 for Milford‟s bread, whereas Centra and Londis charged €2.07.

Through all the fourteen different stores, the average price of bread in general, taking into
account all nineteen brands observed, is €1.66. This is much lower than what some of the
brands with a higher market share are being sold at, with Pats Pan selling at an average of
€1.90. This is an indication that the more sought after brands, with a higher market share are
the more expensive ones, whereas some of the cheaper ones have less market share; See
“Correlations” for further information.

2.4.1 Own Brands

By looking at the results for the Own Brand breads, it is clear that they hold a relatively large
market share of 11%, making them fourth out of those studied. As well as this, the price of
the Own Brand is substantially lower than the other brands with similar market shares, being
over 18% cheaper than any of the other top ten brands with the most market share, and being
over 25% cheaper than any of the top seven brands.

Although the Own Brands are not the cheapest brand seen on the market in the study, they
have the lowest average price of any brand available in more than one store. With eight of the
fourteen stores selling their own brand of bread, this makes store brand bread more widely
available than for example McCann‟s which is cheaper, but is only available at Lidl.

2.4.2 Correlations
By comparing each brands price to their relative market share a correlation was calculated
on…

1. All brands
2. All brands with over 4% market share
3. All brands with over 10% market share

9
This was done as it may not be fully accurate to try to get a correlation on the market using
information from all brands. This is because several brands are were only observed in only
one store and do not although they may have had a shelf space percentage in the store they
were in, up to 50% in some cases, their overall market share may be low as a whole because
of being in less stores.

By calculating the correlation between price and market share on all brands with over 4%
share, this eliminates most one store brands, and the correlation on those with market share
over 10% gives us the results for the market leaders.

1. All Brands
 The result when calculating the correlation of all nineteen brands was
0.16381496 (fig 1.3).
 This means that there exists a weak positive correlation between the price of
the brand and its market power. This means the relationship between price and
market share is relatively low, thus in this situation the price has only a small
influence on the market share of a product.
 A scatter diagram of this relationship can be seen in (fig 1.7)

2. All Brands with over 4% market share

 The result when calculating the correlation of all brands with a market share of
over 4% (eleven brands) was 0.3253851 (fig 1.5)
 Here there exists a stronger correlation than in point 1. By removing the
weaker brands from market and leaving the competitive ones a slightly more
defined answer can be achieved. A correlation of over 3 would be considered
modest, showing a positive relationship between price and market power. This
means that the as price goes up, so does market share.

10
  This revelation can be taken to mean either…
 As the price of a brand of bread increases customers link this to an
increase in quality and therefore choose the more expensive brand
pushing that brands market share up
 As a brand gains power in a market, it achieves a higher level of
customer loyalty and can therefore charge slightly higher prices
without losing customers. Less powerful brands however have to sell
bread for cheaper in an attempt to increase sales and achieve a higher
market share.
 (fig 1.8) portrays this relationship in a diagram.

3. All brands with over 10% market share

 This test was carried out to see the relationship between price and market
share among the top performers in the market.
 A correlation of 0.43184896 was calculated (fig 1.6)
 Again as the market becomes more defined, the relationship between price and
market share becomes stronger.
 Each of the top three brands have an average selling price of over €1.90,
making them relatively more expensive than the other three brands in this
example.

The same conclusion as that in the previous point can be made, that those brands with the
highest market share can charge more and still have a higher market share.

In all the results, a positive correlation was found between price and market share. That as
price increases, so does market share. The reason for this may be brand loyalty; people are
willing to pay more for, say, Pat the Baker, because they feel it is better quality. Therefore if
that brand was to increase price slightly it would probably not affect their market share. This
is based on the fact that it is already more expensive than other brands yet is still more
popular.

11
2.5 Market Power Analysis

By analysing the relative pricing and the market share of each brand we have estimated their
market power.

Pat the Baker has the highest market power in the market for white sliced pan. Their Market
power is very high because they have built it up through product differentiation and by
controlling the customer relationship through developing the brand loyalty. This means that
that the product is different or at least perceived as different from competing products. This is
often a result of successful branding which is supported by advertising. Pat the Bakers song is
a key success factor to their advertising campaigns. The line from the song „so fresh its
famous‟ is their slogan which is known by everyone across Ireland and the recent campaign
they are currently running called „sing it your way‟ increases their brand recognition.

Other brands with high market power in the selected market are Gallagher‟s, Milford, O
Haras and Brennans bread. Like Pats Pan they too have been building on customer loyalty
and product differentiation. The variation from the highest to the lowest price of these brands
is within the range of €0.20 of each other. Their profit margin will therefore be quite similar
as the slight discrepancy in relative price to market share will generate comparable turn over.

Building market power results in the company generating higher profit margins. The market
power is important in dealing with retailers, especially chains. The strong brand with high
market power will rarely be “de-listed” by retailers because loyal customers will demand the
product to be stocked. This explains why Pat the Baker is available in ten of the fourteen
stores compared with the weaker brands, with low or no market power, only being stocked in
one or two retail outlets.

The companies with a strong brand have a significant degree of control over its selling price
and can set prices at a level to generate adequate profits. This can be demonstrated by
comparing the price of a leading brand, such as pat the baker at an average price of
€1.90,with that of the comparable own brand, such as the Tesco‟s, which retails at €0.84.
Strong Brands, by establishing customer loyalty, gives companies a degree of power over the
selling price of their product.

12
Brands with a relatively high market power have an inelastic demand curve. The more
inelastic the demand curve the greater the customer loyalty and the greater the ability of the
business to charge a price above the range of competitor prices. By looking at and comparing
market share and relative price (fig. 1.3 ) we can see that the market for bread is relatively
inelastic (in terms of different brands), meaning that a change in price of one brand is
unlikely to greatly affect the demand for that brand or affect its market share. This is based on
the fact that competing brands are offering bread for cheaper yet it is still the more expensive
brands that have the highest market share.

Some of the brands that we have establish to have low market power in the market for white
sliced pan are the own brands, Devine Big 8, Johnston, Mooney and O‟Brian, Riding Lodge,
Mc Canns, Mr Toasty, Good Morning and O' Donnells. Most of these brands were found to
have relatively low market share but on average their price was on the higher scale of the
market. Firms with weak brands, or no customer loyalty, can have their product “de-listed”
and removed from the shelves of the supermarket. This is why they were found to be supplied
in fewer stores than the high market power brand and the relatively high power brands of
Irish Pride and Hovis. The threat of being removed from shelves hangs over all weak brands.
The price in a weak brand, low market power market will be in line with costs of production
with a low profit margin. Most firms selling with this low market power will make low profit
margins generally below 5%

The Own brands however were ranked in 4th for market share but this is a combination of
each shops own brands. Their prices are very competitive compared with the other brands
available on the market. Own brands, which have no customer loyalty, compete on a price
basis and their price must be below the range of competitor prices or else they will suffer a
major reduction in sales.

13
2.6 Blind Testing

As stated previously as part of our Market power analysis project, we were asked to examine
the market power held by all the competing brands in a chosen branded consumer goods
market. The good that we chose for the basis of our analysis as we now know was bread and
more specifically sliced white bread. As part of our analysis we were required to carry out
blind testing on the various different brands i.e. Pats Pan, Milford, O‟Hara‟s etc to assess
whether the price differentials are linked to measurable quality differences

Below is an account of the methods we used when carrying out our blind testing and a
detailed evaluation of our findings.

First of all we made a decision as to what seven brands we were going to include in our blind
testing The seven brands we decided upon were the following;

1. Brennan‟s
2. Milford
3. Gallagher‟s
4. Pat the Baker
5. O‟ Hara‟s
6. Tesco
7. Johnson, Mooney and O‟ Brien

Next we randomly selected six willing volunteers to aid us with our research .As a group we
felt that it would be appropriate to have three males and three females to participate in our
test as this would facilitate us in reaching more accurate and fair results.

Our main objective in carrying out our blind test was to find out if our participants were able
to differentiate between our seven brands of white sliced bread and more importantly whether
or not they were able to identify their preferred brand of white bread.

We established certain safety measures before we began our blind testing.

Firstly it was decided that only one participant at a time would be allowed in to the testing
room. Secondly as each participant completed each of the tests they were sent to a separate
room to the remaining participants waiting to be tested. Each participant also was provided
with a glass of water to drink from between each bread sample testing in order to remove any
lingering aftertastes. We felt that this would give a fair chance to each of the breads being

14
tested. We took these measures ensure that nothing and know one (i.e. that our participants
could not influence each other) could distort our findings.

Taste test one involved each of the participants being individually brought into the testing
room and sat down at a table. They were subsequently presented with our seven different
brands of bread. All of the participants were asked to taste each of the bread samples and try
to identify their stated “favourite” brand (before we began our testing we took a record of
each participants perceived favourite brand).Below is a list of the participants preferred
brands.

Participant’s Favourite Brand

Participant 1 Pat the Baker

Participant 2 O‟ Hara‟s

Participant 3 Pat the Baker

Participant 4 Johnston, Mooney &O‟Brien

Participant 5 Pat the Baker

Participant 6 Brennan‟s

In Taste test two the same process was repeated but this time the participants were asked to
taste each of the bread samples and rate them out of ten, with ten being the highest.

Taste test three then involved a slightly different approach. We decided it would be
interesting to ask our participant‟s to sample and rate each of the breads again with the
exception that this time around we would inform each participant of which brand of white
sliced bread they were tasting. We as a group wanted to see if our participant‟s perceptions of
the breads i.e. there previous ratings would change when they knew which brand they each
were.

The results of our blind testing were as follows:

15
Taste Test 1- This test as stated previously involved the participants trying to identify their
chosen “favourite” brand. Only participant two, three and five were able to successfully
identify their stated preferred brand.

Taste Test 2- In this taste as we know the participants were asked to rate out of ten each of
the seven brands when they were unaware of which brand they were tasting. Pat the baker
ranked number one, With O‟ Hara‟s coming in at second place. In joint third we had
Gallagher‟s and Johnston, Mooney & O‟Brien. In fourth place then came Tesco‟s, with
Brennan‟s and Milford coming in joint last.

Taste test 3- This test required the participants to re-taste each of the brands with the
exception that they now had knowledge of the identity of the brands they were testing. The
results of the test were as follows. There was no change to the number one spot with Pat the
Baker once again coming out on top as was the case with O‟Hara‟s which stayed firmly in
second place. Tesco‟s moved up to third place, pushing Gallagher‟s down to fourth. Milford
moved up a spot to fifth place. Leaving Johnston, Mooney &O‟Brien ranking sixth, with
Brennan‟s finishing last once again.

16
3.0 Conclusion
As a result of our study and market research we, as a group, have evaluated the Irish bread
market and therefore gained a better insight into the trends that influence the market power,
market share and price analysis of the industry.

The results of our findings are as follows:

Market Share Analysis

 From our marketing analysis study it became clear that “Pats Pan” or “Pat the
Baker” was the leading brand name in terms of market share with a 16% share
of shelf space throughout fourteen different stores, followed closely by
“Gallaghers” with a share of 13%.

 These figures had led us to the belief that these two brands were obviously the
most popular.

Relative Pricing Analysis

 Throughout all fourteen stores we, as a group noticed a great variation of price
in a small number of Breads. For example: Costcutters charged €1.29 for
Milford‟s bread, whereas Centra and Londis charged €2.07.
 It became apparent that those leading brand names such as “Pats Pan” with a
higher market share were being sold at a much more expensive price than
those with less of a market share

Own Brands

 It became evident that Own Brands held a relatively large share of the market
with 11%. Also the price of the Own Brand was substantially lower than other
brands with a similar market share.

17
Blind Testing

The blind testing evaluation provided the most interesting result of our research. Taking the
above into consideration the results of our blind testing analysis proved that market power
shows relevance to popularity even in a situation where the person is unaware of the brand.

Also with relevance to Own Brands, the blind testing analysis provided evidence that a study
of just market shares and market power is not sufficient.

The result of our blind testing showed Tesco brand bread coming out as one of the most
popular. However on a basis of market share investigation Tesco was shown to have a low
market power. This would lead us to the conclusion that perceptions of people will inevitably
undermine quality.

18
4.0 Appendix
(fig 1.3) Market Share and Price Analysis
Sorted By Share
Pats Pan 16% €1.90
Gallaghers 13% €1.93
Milford 12% €1.91
Own Brand 11% €1.29
O Haras 10% €1.78
Brennans 10% €1.73
Irish Pride 6% €1.74
Hovis 6% €1.59
Devine Big 8 4% €1.95
JM+OB 4% €1.99
Riding Lodge 4% €0.60
Mc Canns 2% €0.95
Mr Toasty 1% €2.00
G. Morning 1% €1.39
O' Donnells 1% €2.15
Mulhalls 0% €2.00
Vogels 0% €1.49
Big Toast 0% €1.47 Correlation
Irwins 0% €1.66 0.16381496
______________________ ______ ______ _____________
Total Percentage 100%
Average Price €1.66

19
(fig 1.4) Market Share and Price Analysis
Sorted By Price
Riding Lodge 4% €0.60
Mc Canns 2% €0.95
Own Brand 11% €1.29
G. Morning 1% €1.39
Big Toast 0% €1.47
Vogels 0% €1.49
Hovis 6% €1.59
Irwins 0% €1.66
Brennans 10% €1.73
Irish Pride 6% €1.74
O Haras 10% €1.78
Pats Pan 16% €1.90
Milford 12% €1.91
Gallaghers 13% €1.93
Devine Big 8 4% €1.95
JM+OB 4% €1.99
Mulhalls 0% €2.00
Mr Toasty 1% €2.00 Correlation
O' Donnells 1% €2.15 0.16381496
______________________ ______ ______ _____________
Total Percentage 100%
Average Price €1.66

20
(fig 1.5) Brands With Market Share Above 4%
Pats Pan 16% €1.90
Gallaghers 13% €1.93
Milford 12% €1.91
Own Brand 11% €1.29
O Haras 10% €1.78
Brennans 10% €1.73
Irish Pride 6% €1.74
Hovis 6% €1.59
Devine Big 8 4% €1.95
JM+OB 4% €1.99 Correlation
Riding Lodge 4% €0.60 0.3253851

(fig 1.6) Brands With Market Share Above 10%

Pats Pan 16% €1.90
Gallaghers 13% €1.93
Milford 12% €1.91
Own Brand 11% €1.29
O Haras 10% €1.78 Correlation
Brennans 10% €1.73 0.43184896

21
(fig 1.7)

Scatter Graph For (fig 1.3)

€2.50

€2.00

€1.50
Axis Title

Y-Values
€1.00
Linear (Y-Values)

€0.50

€0.00
0% 5% 10% 15% 20%
Axis Title

(fig 1.8)

Scatter Graph For (fig 1.5)

€2.50

€2.00

€1.50
Axis Title

Y-Values
€1.00
Linear (Y-Values)

€0.50

€0.00
0% 5% 10% 15% 20%
Axis Title

22
(fig 1.9)

Scatter Graph For (fig 1.6)

€2.50

€2.00

€1.50
Axis Title

Y-Values
€1.00
Linear (Y-Values)

€0.50

€0.00
0% 5% 10% 15% 20%
Axis Title

23
Original Survey Data

Name of Researcher: Name of Shop:

Date: Time:

Brand Name Number Of Loaves Price (€‟s)

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Total Number of
Loaves in Shop (

24
5.0 References
Websites

www.oharasoffoxford.com

www.patthebaker.com

www.irishpride.com

www.gallaghersbakery.ie

www.jmob.com

www.marketresearch.ie

Books

Donal Rogan (2007), Marketing, An Introduction for students in Ireland, 3rd Edition, Gill &
MacMillan

25