Primary Secondary Data

Topics: Marketing, Coca-Cola, The Coca-Cola Company Pages: 2 (311 words) Published: June 24, 2015
Secondary data is gathered via secondary research and involves information that has already been collated/interpreted by someone else for another purpose- for example: Census data
Australian economic growth figures
Tourist numbers
Books, newspapers, magazines, internet articles on a certain subject

There are two types of secondary data:
Internal: data that has already been collected from internal sources such as internal sales data, consumer feedback and other research reports External: published data from outside the business including magazines, newspaper articles and ABS data

STEP 1: Situational analysis

STEP 2: Market research

STEP 3: Market objectives

A marketing objective is a statement of what a business expects to achieve through its marketing activities

Examples include:
Increase market share by 5%DNT tell her (chris)
Expanding the product mix/ product portfolio
Improving customer service
Improving customer loyalty/retention
Expanding into new markets

Marketing objectives vary based on the sixe of a business, strength versus competitor’s and overall marketing conditions.

STEP 4: Identifying Target Market
A target market is where a business clearly establishes who the consumers of the product are, then aims its efforts to get sales in that market.

Way more efficient to focus your marketing resources on a specific group or market segment – cheaper, better return for your money.

Think of coca cola- they market a number of beverage brands: Coca-Cola
Diet coke
Sprite
Fanta
Lift
PowerAde

What do you think are the target markets for these brands?

Target markets can be divided into:

Primary target markets: those markets where the business will focus its main marketing activities Secondary target markets: less important targets where fewer marketing resources will be devoted.

French Connection

Demographic:

Gender: Male & Female
Age: 20-30
Ethnicity: Any
Income: Average
Occupation:...
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