Marketing research for Coca Cola
“Describe how marketing research information is used by one of the organisation to understand the behaviour of customer, competitors and marketing environment”
A) Marketing research basically aims to help the business, by this it will make sure that the organisation makes successful decisions. They would make good efficient decisions by the information that is provided for the decision- making process. Market Research has three sectors that are called customers, competitors and overall marketing environment that are know as the themes of marketing research.
Coca- Cola conducts marketing research by using the themes of marketing. They make sure what the customer wants. For example they do research such as questionnaires to find out what flavours people like and what they don’t like. Coca-Cola also have to do their research on their rivals, the reason for this is so they have an idea on the comparison of products, prices, distribution methods and promotional methods. The last research they have to do is on the market environment, Coca-Cola will do this so they know what the market size is for their product.
Also they will look at the economic, social, technological influences.
B) The difference between qualitative and quantitative data, qualitative data is basically where you
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C) Primary research is original data that is directly relevant about the product and market. This means that the data has never been collected or used before. Businesses like to use this method of research because the data is accurate and is original.
Another reason is that the information is up-to-date and is obtained by marketing research that can be of enormous value to an organisation in gaining its competitive edge. The limitations of primary research are that the information can be difficult to collect, it could also take a long time to collect, and it’s expensive to collect the data and may provide miss-leading results.
D) Secondary research is research that has already been carried out by somebody else for some other reason or marketing project. Secondary research involves the analysis of secondary sources of data. Businesses use this method of research because it is less expensive. Another reason is because the process to find out the data can be completed very quickly usually in 2 to 3 weeks. The limitations of secondary research are the following that the information and data may not be accurate, the data maybe old and out-of-date and the data can be vague and may not really help companies with decision making.
E) The purpose of primary research is so to answer questions so the business can get the relevant information that they wanted to know about. There are varieties of methods that are available to considering doing some primary marketing research. Here are the following methods and the advantages and disadvantages to these methods of research: Observation: The method of observation is basically where someone collects data without asking any questions being asked of the participants. This involves watching or analysing their reactions.
The advantages of this method are that the information is accurate as you are analysing their reactions, another is that the Refusal rates are not a problem. Although there are the down side to this method such as Time consuming, the cost of this method, and sometimes you the Observer can misinterpret the person. Telephone Surveys: This is basically where an employee will phone up customers and ask those questions. The questions are usually computer controlled so they will appear on the screen for the employee to ask to the customer. The advantages to this method are that you will get the feedback very quickly.
It is also more accessible to everyone and there is that pressure on the customer to answer the questions. The disadvantages of this method are that the customer can loose interest in the questions. Also as it is over the phone visual aids cannot be used and the Respondent has little time to consider questions. Postal Surveys: Postal surveys are used by many organisations for research; this is where the business sends surveys to selected respondents to get their feedback or opinions. The advantages of this method are that it covers wide area, the cost of this method is low and also you would have to travel so there’s no cost for this.