Application Process of Market Research (Coca-Cola Company)
Application Process of Market Research
(Coca-Cola Company)
Vas Gergő
Teacher: Zsófia Kárász Whether your goal is to expand into new markets, introduce a new product or service, or gauge customer reactions, even the smallest businesses can benefit from a simple but well-planned market-research study. Market research helps you to understand your market, your customers, your competitors, and larger industry trends. High-quality research will reveal details about your current customers and will help you to target new customers. Even in case of the establishing of a new market research for the Coca Cola Company every aspect of the marketing plan must be critically examined and thoroughly researched. This consists of examining market research, auditing business and current situation (situation analysis) and carefully observing the soft drink industry and possibilities for Coca Cola in the market. Once Coca Cola have carefully analyzed the internal and external business environment and critically examined the industry in general the most suitable marketing strategies will be selected and these strategies will be administered by effectively and continually monitoring external threats and opportunities and revising internal efficiency procedures. Situation analysis: The market analysis investigates both the internal and external business environment. It is vital that Coca Cola carefully monitor both the internal and external aspects regarding its business as both the internal and external environment and their respective influences will be decisive traits in relation to Coke’s success and survival in the soft drink industry. The internal business environment and its influence is that which is to some extent within the business’s control. The main attributes in the internal environment include efficiency in the production process, through management skills and effective communication channels. To effectively control and monitor the internal
(Coca-Cola Company)
Vas Gergő
Teacher: Zsófia Kárász Whether your goal is to expand into new markets, introduce a new product or service, or gauge customer reactions, even the smallest businesses can benefit from a simple but well-planned market-research study. Market research helps you to understand your market, your customers, your competitors, and larger industry trends. High-quality research will reveal details about your current customers and will help you to target new customers. Even in case of the establishing of a new market research for the Coca Cola Company every aspect of the marketing plan must be critically examined and thoroughly researched. This consists of examining market research, auditing business and current situation (situation analysis) and carefully observing the soft drink industry and possibilities for Coca Cola in the market. Once Coca Cola have carefully analyzed the internal and external business environment and critically examined the industry in general the most suitable marketing strategies will be selected and these strategies will be administered by effectively and continually monitoring external threats and opportunities and revising internal efficiency procedures. Situation analysis: The market analysis investigates both the internal and external business environment. It is vital that Coca Cola carefully monitor both the internal and external aspects regarding its business as both the internal and external environment and their respective influences will be decisive traits in relation to Coke’s success and survival in the soft drink industry. The internal business environment and its influence is that which is to some extent within the business’s control. The main attributes in the internal environment include efficiency in the production process, through management skills and effective communication channels. To effectively control and monitor the internal