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Unit 10: Market Research in Business
D1: Evaluate the market research method used by a selected organisation
In this task, I am going to go through the different market research methods Coca-Cola uses
and evaluate why they would use these to their benefit
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There are many advantages towards test marketing, as the customers have the prototype
product to try, so therefore the customer is more likely to give an informed answer which is
more accurate, and therefore the market research gained can be worked on from the
customers opinion
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When Coca-Cola try to bring out a new product, they have to complete rigorous market
research tests to ensure that the product checks the boxes to which the focus groups have
set, through sharing their opinion by trying the test product, so therefore all the advantages I
stated before can be applied, so if there is any potential faults with the product, they can
make relevant changes and prevent this from impacting the end product
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Due to the disadvantages I have identified, as stated before, Coca-Cola competes rigorous
tests to ensure they get a large sample size of opinions, so that the information is more likely
to be representative due to different factors of the focus groups
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The advantages of a street
survey is that they can be easy to carry out, as you just need to approach people on the
street and take their answers, so with that, it is also rather cost effective, as you just need to
pay one person to carry out the questionnaires
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Coca-Cola want to hear people's opinions about their products, so they use street surveys
effectively, to hear people's direct opinions about their products, so they can make changes
to suit people’s needs to make sure people still buy the product
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e
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Through using this
method, there is more personal interaction, and so people on the street can then see that
Coca-Cola are aiming to make changes to suit the consumer needs, and this can also
function as good PR, as this shows that they care about what the consumers think about
them
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Also, some people may be in a rush, so they may not give
accurate answers, so therefore the information wouldn’t be as useful to the brand due to
inaccuracies
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To combat the disadvantages as stated above, Coca-Cola would have teams designated to
collect this information, as they are such a large organisation, that they would have large
budgets to account for collecting this information, meaning they have as much time as they
need to collect the most amount of information which will benefit their brand and products in
the long term
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Firstly,
website surveys can be completed very fast, so therefore, interviewees are more likely to
carry them out, as there is no human interaction, and they can do them when they want,
from the comfort of their own home, so therefore they are more likely to carry them out, to a
much higher standard, giving their opinions
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Website surveys would be used to find out people's opinions about Coca-Cola products, so
they can make changes to suit people’s needs to make sure people still buy the product
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However, as stated before, the information may suffer due to questions asked, so if there are
only close ended questions (yes/no), you may not get people's real opinions, so you may be
missing out on brand information, due to the survey not taking into account the real opinions
of the consumers
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For example,
they may look at rival drink brands, to see why they where they may be better, and they may
look at their accounts to see their money is going to ensure that they stay at the top
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From this they may look at their sales,
compare it to their own
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They may also look at marketing expenditure, as if Coca-Cola are spending much more than
Pepsi in this area, it would help to explain why they are so different in terms of scale and
profit, Coca-Cola will make changes to how they operate in order to gain an advantage
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They are a
common marketing practice in terms of research as they see specific products people like,
and they can collect vasts amounts of market research from people worldwide, so therefore
brands depend on cookies to advertise to people in order to promote their brand and
products
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The only issue with internet cookies is that people need to consent to them when they enter
the website, and most people are against websites collecting information about them, so this
is the only issue that rises up, as they may not get as much information as they want to help
them advertise due to internet laws preventing them from getting as much information as
they need to help them advertise in the future, however, the fact that there are so many
people on the internet, means this isn’t as much of an issue, as the sample sizes are still
going to be huge, even if a certain percentage has decided to turn cookies off when they
enter the Coca-Cola website

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