MARKETING RESEARCH METHODS5
THE LINK BETWEEN PRINCIPLES OF MARKETING AND MARKETING RESEARCH7 CONCLUSION7
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
By market environment they use the news report method because there you can find very useful data, to understand customers better.
Source – BTEC National Business Book 1
Marketing research methods
The purpose of marketing research is to help organisation make effective decisions by providing information on consumers, competitors and the market. The two main types of marketing research are primary and secondary research.
Primary research obtains new information. Secondary research makes use of research already carried out by someone else for another project. An organisation wanting to gauge the reaction to be a proposed new advertising idea would not be able to find the answer from existing research sources and would therefore have to carry out some primary research. Primary research
Primary research is carried out to answer questions that are beyond the scope of the secondary research currently available. A variety of methods are available to a marketing manager considering doing some primary marketing research.
The coca cola company use surveys as a primary research method. They use questionnaires to collect data by face-to-face interviews, using the post, email or internet. They use to obtain data about what kind of flavours they prefer, awareness, motivations and lifestyle. Easy to administer but respondents may be unwilling or unable to answer. Can be used to gather data on own organisation as well as competitors. It needs to be asked a significant number of people before conclusions about overall market environment can be drawn.
Nowadays websites can reveal plenty information of useful information for example which products of coca cola are being viewed by surfers and from where such Holland or France. Much consumer information can be obtained when surfers are asked to register to access special areas on a site. If they then buy something a record of interest can be collected with some sites making suggestions about...