Essay
UNIT 10 - MARKET RESEARCH IN BUSINESS - D1
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D1 evaluate the market research method used by a selected organisation
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For the distinction point I will write a report that evaluates the market research methodsused by Coca-Cola Company.
For this assignment I will evaluate Coca-Cola Company and their development using market
research on their product, which is Diet Coke. In addition to this, I will evaluate the findings
that were gained from the research method used by the researchers at Coca-Cola Company.
The information used in the report was gained from several different sources such as P4
questionnaire and M2 table of various data collection methods.
The Coca-Cola Company uses primary research such as first-hand collected data
(investigation, surveys, interviews, experiments) and secondary research which is data that
has already been collected (government records, newsletters, trade publications, websites,
etc.)
The questionnaires used in P4 task were presented face to face and included a variety of
closed and open questions so we could gain enough information in order to find out what
was the problem with the Diet soda.
The primary research helps the company determine how successful their product is and
whether they need to improve it in a certain way and the secondary research helps the
business by offering general background information of a product or proves a theory in a
certain way. Using different market research, Coca-Cola Company can find out what are
their customers’ expectations for now and for the future.
On the first hand, Coca-Cola Company uses primary research in order to find out if
customers prefer other competitors because of their prices or because of the quality of their
products. They also want to find out if customers think that their products ‘packages are
uncomfortable or if they have an inappropriate aspect. They use different market research
methods such as surveys, interviews and experiments in order to find out why their sales
figures were decreasing.
I will contrast and compare my method of surveys to other data collection methods used by
the Coca-Cola Company. The data collection method I have used was questionnaires. This
was different to the methods highlighted in the Coca-Cola Company’ records: such as Focus
Groups and interviews. The difference between them was that focus groups and interviews
tend to have more qualitative data, as people will express their opinions and views in
person, which can enable the market researcher to get a better insight into whether the
people wanted real time information about their ingredients into the company’s website.
This would be different to my chosen method as questionnaires are most often considered
due to the level of quantitative and qualitative data within the responses, which can be
quite effective in terms of gathering information about Coca-Cola products. The qualitative
data received would be used efficiently so get a better understanding of their market
research objectives which are to see an improvement within their ingredients.
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