Questions
1. What part does market research play in the marketing concept? (hint: the marketing concept is to: identify, anticipate, satisfy and meet needs profitably”)
Market research plays into the marketing concept by finding out what people want, and what they want to see what benefits them.
2. How will market research help Coca-Cola to develope an appropriate marketing mix for one of its products, e.g. Powerade?
Market research will help Coca-Cola to develope an appropriate marketing mix for one of its products by finding out what people want of out the product. For example, if they are diabetic, health concious etc.
3. Why is it important to identify different segments of the soft drinks market through market research?
It is important to identify different segments of the soft drinks market through market research by finding out what type of soft drinks people like and choose. Its also important to figure out what brands they're buying, considering people think that just because something says ''0 Calarie" OR ''0 % Transfat'' on the lable, they are more likely to buy that product. Observe the small details!
4. Market research carried out by Coca-Cola revealed a growth in the number of smaller households. How did this market research information help to inform product design?
This market research information helped to inform product design by finding out what people is smaller house holds like out of a product.
5. Why does Coca-Cola sometimes use quantitative market research rather than qualititave research?
Coca-Cola sometimes use quantitative market research rather than qualititave research because they would rather find out the numbers and statistics. This is easier to estimate the larger population demands then a qualititve reasearch would.
6. Why does Coca-Cola sometimes use qualititive market research rather then quantitive research?
Coca-Cola sometimes uses qualititive market research rather then quantitive research because they are looking for reactions, responses and feelings towards their products.
7. What are the benefits of carrying out a simulated test market before going for a full launch?
The benefits of carrying out a simulated test market before going for a full launch is that they do not want to waste time money and effort and it not make a revenue.
It show's the reality of what people would want in the real world.
8. Coca-Cola Vinilla was already established successful product in the U.S. Then why was it necessary to research the feelings of the market about Coca-Cola Vinilla before launching the product in the U.K?
It was necessary to research the feelings of the market about Coca-Cola Vinilla before launching the product in the U.K because being in this region and the U.K is totally different. People are such opposited between the U.K and the U.S.
Europe is more refined and conservitive and relaxed, while Americans are more open minded and willing to try just about anything.
-Leah
Leah - absolutely excellent answers! You hit the nial on the head about the reasons for the different research - it makes sense why they use different types and why they use test markets. Out of all the differences between products (UK and USA) Coke and Pepsi products were very similar to what we are used to! It is amazing that they are since most other products are modified a bit - e.g. potato chip flavours.
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