Coca Cola Case Study
5) Marketing Research
• Market research helps you 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 target new customers.
• In addition to the insight that you’ll gain into customer needs, market-research studies can help you avoid costly mistakes, such as introducing an unpopular line of goods or developing a service that no one really wants
Example
• Coca-Cola 's introduction of New Coke in the 1980s demonstrates what happens when decisions aren 't supported by solid research. Coke revised the formula of its traditional brand of soft drink and lost millions in sales. By performing a study and determining what people thought of the new formula, the company could have avoided public-relations headaches.
Some basic guidelines can be followed before conducting a market research.
• Use the right sample.
• Mirror the market.
• Get quantifiable results.
Couple of research methods can be used by Coca Cola Company Such As: PRIMARY Research
• Questionnaire.
• Direct interview of retail shops and consumers.
SECONDARY Research
• Internet Sites
• www.google.com
• www.Coca-Cola.com
• www.thecoca-colacompany.com
Various research techniques can be adopted for example:
Primary research
• Collecting information from field specifically meant for launching O2 coke.
• Questionnaires were designed for 20 potential customers to identify the target market needs.
• Questionnaires were based on the basic marketing mix (product, price, place & promotion).
Secondary research
• Gathering and analysis of existing information available
• Information from the local library including industry research report and magazines.
• Information from journal articles, newspapers and the Internet.
Executive summary
The Coca-Cola Company is a global business enterprise and one of two main soft drink sellers. Study of this report
• Market research helps you 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 target new customers.
• In addition to the insight that you’ll gain into customer needs, market-research studies can help you avoid costly mistakes, such as introducing an unpopular line of goods or developing a service that no one really wants
Example
• Coca-Cola 's introduction of New Coke in the 1980s demonstrates what happens when decisions aren 't supported by solid research. Coke revised the formula of its traditional brand of soft drink and lost millions in sales. By performing a study and determining what people thought of the new formula, the company could have avoided public-relations headaches.
Some basic guidelines can be followed before conducting a market research.
• Use the right sample.
• Mirror the market.
• Get quantifiable results.
Couple of research methods can be used by Coca Cola Company Such As: PRIMARY Research
• Questionnaire.
• Direct interview of retail shops and consumers.
SECONDARY Research
• Internet Sites
• www.google.com
• www.Coca-Cola.com
• www.thecoca-colacompany.com
Various research techniques can be adopted for example:
Primary research
• Collecting information from field specifically meant for launching O2 coke.
• Questionnaires were designed for 20 potential customers to identify the target market needs.
• Questionnaires were based on the basic marketing mix (product, price, place & promotion).
Secondary research
• Gathering and analysis of existing information available
• Information from the local library including industry research report and magazines.
• Information from journal articles, newspapers and the Internet.
Executive summary
The Coca-Cola Company is a global business enterprise and one of two main soft drink sellers. Study of this report