Bussiness Catagery

q.1 For What Purpose does your organization use market research how yours chosen market does use market research?

 Definition of market research

Marketing research is a process to gathering data to convert useful information in order to assist managers to make better marketing decision.

My chosen marketing research company is cocacola

 Introduction of coca cola

Cocacola is a largest seller company in soft drinks. it's a Great Britain company who offers more than 20 brands. it offers a range of products to fulfill customers needs. but for new products they do market research.

Market RESEARCH

Market research

First it looks at its market. It divides this into slices or segments to identify different groups of consumer needs. Market research then finds out what each segment wants.

Market research may be:

* primary - using new data or

* secondary - using sources that have already been published.

Stages

Research by Coca-Cola Great Britain is carried out in five stages:

1. Desk research to see where there might be a gap in the market.

2. Detailed research using small groups of 'typical' consumers. This is to see exactly what might be wanted. For instance, it might look at a new product or pack size. This is an example of qualitative research.

3. Large scale surveys to collect information to see which type and design of product is likely to have the most appeal. This is an example of quantitative research.

4. Trials in a test market to see if the consumer likes the product.

5. Tracking the success of the product once it is launched.

www.thetimes100.co.uk/download-brief--...

q.2 how has market research contributed to the organization development of new products and services?

Coca cola always research always wants to alive their marketing and continuously line of refreshment to get this goal they do continuously marketing research so they fulfill customer needs and they can get got profit for company .

New products

For getting a good profit coca cola has been grasping the idea to introduce new products for instance cock zero carries no carbohydrate and calories , , Coke carbohydrates or calories and was not quite meeting the expected profits in the United States, but Coca-Cola started to advertise