Done by: Trupti Kalekar
The Managing Director of Better Life Corporation (BLC) seems convinced that there is a great opportunity was in the area of marketing branded bottled water, given the prevailing market conditions. He is attentive of the safe drinking water awareness in the general public. Especially, people with children, housewives and mothers take all steps necessary, to ensure that the drinking water at home is safe. There is rising demand for water purification systems like Aquaguard and mineral water like Bisleri. These market conditions convinced the MD of launching marketed branded bottled water. However, his partners want a Market Research to be conducted to determine whether BLC should enter the market, based on the studies. The MD is not persuaded to do marketing research, as he felt that market research was a killer of ‘Big Ideas’ because market research agencies did not understand the concept of latent potential or market creation.
According to me, a marketing research should be conducted to determine the following:
1. Market Research would enable to study the target market to launch Branded Bottled Water. As mentioned in the case, water purification awareness is in large scale among people with babies and younger children; housewives and mothers.
2. There is increasing brand responsiveness for mineral water brands like Himalayan, Bisleri, Aquafina etc. and water purification systems like Aquaguard. A marketing research would help determine the space for new brand introduction in the market.
3. Market study would also help in understanding the scope of marketing and development of the new product. This would enable the company to advertise its product in an efficient manner
4. Market research would enable to understand for the real demand and supply position of packaged drinking water in the market. Studies would help locate the eagerness and purchasing power of people.