MARKETING RESEARCH 4
MARKETING RESEARCH METHODS 5
PRIMARY RESEARCH 5
SECONDARY RESEARCH 6
THE LINK BETWEEN PRINCIPLES OF MARKETING AND MARKETING RESEARCH 7
In this assignment I’m going to describe how the marketing research information is used in order to understand customers, competitors and the market environment in a company like Coca Cola. I’m also going to describe how the link between the principles of marketing are applied within the Coca Cola Company and the marketing research activities used by the same organisation.
The marketing research aims to help organisation make effective decisions by providing information that can inform managers. Research provides information about customers, competitors and the overall market environment that require a reaction. This information is then used to develop new products, devise promotional campaigns, pricing policies and select places where the product can be bought by customers.
Customers: consumer trends that can be used for forecasting future customer needs and preferences. The customers can tell what they like, such as what kind of flavours they like in their coke. They also can tell what kind of handy packaging they want etc.
They use e-marketing method to understand the customer needs, because nowadays almost everybody is on the internet and there they can find useful research information about Coca Cola.
Competitors: competitors of products, prices distribution methods and promotional methods. Profit and overall financial position, likely reaction to competition – how they will respond if another company increases advertising
The government static’s method gives Coca Cola an overview of how your competitors are working and to analyse the business activity.
Market environment: market size and market shares.
Economic influences, Social influences and Technological influences... [continues]
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