Market research can be defined as a systematic plan and efforts to gather information about customers or the market. A well-conducted market research provides essential information about the organization and individuals. The information gathered will be interpreted using statistical and analytical methods and techniques to aid in decision-making. For the purpose of this research, we had two tools of conducting research to obtain viable and accepted result. For instance, we have taken online surveys and phone surveys. These two while they might serve a similar purpose are different in other ways, and the information could vary from one to another. Online surveys provide an easy display of information that previously was only available on the face to face or focus groups, something that is not available for the phone surveys.
The Coca-Cola Company has a huge internal database that contains relevant data for the new product (Hard Coke). With the existing information, we were able to obtain a lot of information regarding the products that worked and those that failed hence facilitating the introduction of Hard Coke. Challenges that are likely to occur during the process is changes in policy and activities making the comparison between the new program and past in the impractical or challenging, there are restrictions due to confidentiality, and some of the data may be too old, incomplete, or inaccurate” (Prove and Improve.org, 2013).
For the introduction of the new product, it became viable to introduce the survey as a technique. This included face-to-face surveys and written surveys. Face-to-face surveys provided a better environment for open-ended questions to take place. Written surveys will be applied to the clients willing and who felt at ease filling them. Written surveys do have the advantage of anonymity, they are inexpensive, and they can be self-administered. Face-to-face surveys are further personalized over written surveys, they offer visual prompts, have the capability of using pre-coded or open ended questions, can generate detailed free responses, and feelings can guarantee a fuller discussion (Prove and Improve.org, 2013).
To come up with a wise decision evidence should be provided to support the company’s decision. The market researchers the results of their findings to the Coca-Cola company which plays the role of using this information to determine the right path for the launch of the new Hard Coke. The two methods that Coca-Cola have chosen to use are web surveys and phone surveys. . Coca-Cola is one of the world’s major soft-drink manufacturers and has a vast customer database. It is not a hard decision to give these customers access to an online survey to help shape this new campaign and product. The survey is cheap and quick to set-up and allows for fast accurate responses. The second choice made is the use phones as a research tool. Phone will make it possible to create apps and conduct phone surveys; they also facilitate immediate quick response. The phone gives customers the chance to interact and respond to given questions and problems. Determining whether a customer will never participate is easier particularly when they take long to provide feedback. That is why Coca-Cola has chosen to use these two tools for the marketing research campaign.
In conclusion, marketing research is vital. Each organization needs to select the best research that fits them and provides them with information. For the research team to stay focus and work towards the right direction, they must get inputs required for the research process. Hard work and determination on the task provide the best result.