In this assignment I’m going to describe how the marketing research information is used in order to understand customers, competitors and the market environment in a company like Coca Cola. I’m also going to describe how the link between the principles of marketing are applied within the Coca Cola Company and the marketing research activities used by the same organisation.
The author puts out with direct and indirect measuring approaches. Both of them are for measuring how the customers know about their brand. Once they handle that if the customers are familiar or understand this brand very well, they can manage this kind of
The purpose of this study is to understand the factors that led to the declining of a brand which was once doing very good. The study also aims to measure the brand equity of the chosen brand and then to do a segmentation and positioning analysis of the brand. Finally, the study aims to recommend an STP strategy for the brand. The brand that I have chosen for the study is Lotte Lacto King.
Increasingly multi-national marketers are designing and selling global brands and need research to guide their decision making across an increasingly diverse and disparate world. Sound and timely marketing research becomes even more critical for firms as they compete in the 21st century
Brand awareness is the most important indicator of the consumers’ knowledge about a brand. Brand awareness and customer loyalty go hand in hand. Loyalty of a customer is an emotional attachment to the brand. This attachment is driven by brand image and brand awareness. Brand awareness and brand image should develop an affection similar to a friendship. When buying a product for the first time, brand awareness is key. It is what gets the consumer to purchase that product. Measuring brand awareness is another key part in relating it to consumer buying behaviors. Three ways to measure brand awareness are spontaneous brand recall, top-of-mind recall, and aided recall. The ways that measure brand awareness are key in successfully marketing your product. Brand awareness is a starting point for all customer satisfaction.
Consumer’s decisions are mainly influenced by how well they know the product. The appearance of the product too influences the consumer’s choice and behavior. This makes the firms to use branding as a way to increase customer’s awareness on their products. Branding is tending to be inevitable for the firms these days. Branding has a great influence on consumer’s decisions. Firms are getting a greater challenge to ensure that they continuously remain up to date when it comes to different forms of advertisement and marketing strategies. This ensures that they acquire consumer’s loyalty, increase the market share of their brands and increase the volume of their brands they sell. In my research, I will use interview as a methodology that I can use to get more information from the consumers. I will use interviews to conduct research to come up with a summary of how well branding impacts the decisions of a consumer.
It has been acknowledge (Romaniuk & Sharp 2004) that Brand salience can be defined as the propensity of the brand to be thought of by buyers when they are in a buying situations. A brand awareness strategy depends on how well known the brand is, Brand Salience is forming image to refresh their memory about the brands that can linked to consumer mind as well as the quantity and quality of the cue to brand links (Olson & Peter 2005), it is very important that consumer can connect to their mind as many cues as possible . The level of consumers’ brand awareness necessary to induce purchase varies depending on how and where they make their purchase decision for that product category or form. The brand attitude is focus on evaluating the brand, according to Schiffman and Kanuk (2007) “attitudes are relevant to purchase behavior are formed as a result of direct experience with the product, word-of-mouth information acquired from others, or exposure to mass-media advertising, the internet, and various forms of direct marketing”
Intel realized the advantage of partnering with IBM and initiated projects like “Crush” and “Checkmate” to counter Motorola to ensure microprocessor supremacy. With the success of securing IBM contract along with more wins, Intel was on set on track to ensure industry dominance.
Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to the marketing situation facing Arimount (Kotler & Keller, pg. 98, 2012). Marketing research will aid Arimount in gaining insights of customer expectations and requirements, competition and performance of current brands manufactured by Arimount to help them plan a successful launch of this new product. There are five established ways of conducting market research: observation, focus groups, surveys, behavioral data, and experiments (Kotler & Keller, 2012). Arimount will utilize some data that already exists relative to the deodorant industry, i.e. most consumers in the United States, nearly 67% utilized a stick type of deodorant, which is the predominant medium for long lasting deodorants (Mintel, 2012). The production of quantitative research in the deodorant
The research in consumer behavior and psychology shows that the brand related information determines the probability if the customer will select a particular brand (Mitchell 100). Companies have learned to play with the psychology and emotions of consumers and have succeeded in attracting even those consumers that were not motivated by the traditional advertisements. Companies these days are focusing on the basic psychological principles to understand how to plan and execute the advertisement.
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the