For this assignment I have been asked to produce a new marketing strategy for an existing product. The product that I have decided to study and research is Coca Cola this is because Coca Cola is my favourite drink and I would like to know what other peopl

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IntroductionFor this assignment I have been asked to produce a new marketing strategy for an existing product. The product that I have decided to study and research is Coca Cola this is because Coca Cola is my favourite drink and I would like to know what other people think about it. I have been asked to obtain primary and secondary data relating to Coca Cola. Firstly I have been asked to carry out a questionnaire and analyse my result using graphs. Then I have been asked to investigate the secondary data, places where I would look to find this data is the Internet and magazines.I have been asked find out what are the external influences affecting Coca Cola. I have also been asked to carry out a PEST and SWOT analysis of the market. I will state how important are these external influences to my strategy.I will find out how the marketing mix been used to create the marketing mix and write a justification of my marketing mix. I have been asked to evaluate the different type of marketing models used in this assignment. I will assess the reliability and validity of the models. Lastly I will present one aspect of my strategy to an audience.Dr. John S Pemberton in Atlanta, Georgia invented Coca Cola on 8th May 1886. The name ‘Coca-Cola’ was suggested by Dr Pemberton’s bookkeeper, Frank Robinson. He penned the name Coca-Cola in the flowing script that is famous today. ‘Coca-Cola’ was first sold at the soda fountain in Jacob’s Pharmacy in Atlanta. During the first year, sales of Coca-Cola averaged nine drinks a day, adding up to total sales for that year of $50. Today, products ofThe Coca-Cola Company are consumed at the rate of more than one billion drinks per day in around 200 countries.The secret formula used to make Coca-Cola is made by using a unique combination of natural flavourings. The formula for ‘Coca-Cola’ is a closely guarded secret and it is stored in a bank vault in Atlanta, Georgia, USA.Coca Cola first arrived in Great Britain in the 1990. Coca Cola was first sold in Great Britain. In the last few years the number of brands of Coca Cola has increased. Some of Coca Cola’s existing product range are the followings:➢ Coca Cola➢ Diet Coke➢ Cherry coke➢ Fanta➢ Sprit➢ Lilt➢ Five alive➢ Doctor pepper➢ OasisTask 1 AA collection of necessary Primary and Secondary researchMarketing research means a research estimate of market size and location and consumer attitudes, it also means research into all of an organisation’s marketing activities, such as pricing, advertising, selling and distribution policies. All organisations must do what the market wants in order to be successful. Marketing research provides information that helps organisations to recognise and respond to market opportunities and to develop suitable products to meet market needs. It enables organisations to find out which goods and services people want, the price they are prepared to pay, where they prefer to buy the product and how products should be promoted. Ultimately, by carrying out marketing research, the organisation can identify key factors, which relate to customer satisfaction at three levels. These are: the essential (or core) benefits associated with a product, I.e. what the customer seeks to obtain by buying it, the product specification, including branding, packaging and quality and the additional benefits associated with after-sales service, advertising, customer advice, financing and delivery.There are two type of researches that I will be covering in this task these are Primary research and secondary research.Primary researchPrimary research is known as field research. Date collected through primary research is fresh and original information. Primary research is about getting peoples point of views. Primary research is manly collected by the followings:➢ Experiment- e.g. tasting a new product in a supermarket to see how it tastes.➢ Observation- audit, recording e.g. meters recording TV viewing, watching e.g. measuring the flow of traffic passing the advertising poster.➢ Surveys- questionnaire this could be done face-to-face, postal, telephone. Consumer panel and interviews such as personal and group interviews.In order to collect my primary research I will do a questionnaire. I will give my questionnaire to 100 people in order to get good results to analysis. After completing my questionnaire by asking 100 people I will analysis my results using graphs. The use of the questionnaire is to find out the characteristics of the product in terms of who buys the product, where, how often, how much they spend or the cost they pay for the product. By doing a questionnaire I will find out what age group, gender, social group and ethnic group likes drinking Coca Cola.Secondary researchSecondary research is known as desk research. Secondary research is research that already published. Secondary research is the gathering and analysis of already available information. This type of research is the cheapest form because the data already exists. It is also easier and quicker to find. The problem with secondary research is that information already available is partly out of date, however some times information might not be out of day.I will collect my secondary research by many different ways. I will look at the followings in order to find useful information on Secondary research:➢ Internet➢ AVCE Business book➢ Magazines➢ New papers➢ Leaflets➢ CD-ROM➢ Keynote➢ Coca Cola student handbookWhich data is better?Primary data is better as it normally more accurate, and as it has been carried out just for your purpose it will have more specific information. Also the information that is collected is of a neutral viewpoint.Random or quota sampling which one is better for me to use?Random sampling- this is when every one in the country has an equal chance of being picked. People are picked at random often by computer to complete a survey. The advantage of this is that very one has an equal chance of being picked, but there is there a chance that some of the people that are picked do not use your product or service.Quota sampling- this is where the people picked to do a survey are chosen because they meet certain characteristics, such as age, gender, ethnicity, where they etc.My method of research- the method that I will use is random sampling in the local area. This is so that I can see what a wide range of people think and want in the local area. This is so that I get data that is relevant to me. I will use primary research, in the form of questionnaires. This is because the primary research will be accurate, and more relevant, as it is being carried out for a specific purpose. The reason that I am using a questionnaire is that it allows to gather very detailed information. There some limitations to my research methods, the major one being that it will take a long amount of time.My plans for my new strategy:The flavour that I have decided to launch is banana and I would like to launch a fizzy drink. However before coming to this conclusion I will have to do marketing researches to see if consumers are willing to buy the product I will launch. If consumers state that they want a different flavour I will have to change my decision and make it the flavour they want, so that I can make a profit.Before researching my primary research I will have to consider some important points, these are:Initial considerations:▪ The type of information required▪ The type/ nature of respondents who are to be surveyed▪ The method(s) by which the survey is to be administeredLimited factors including;▪ Overall research objectives▪ Type of data analysis used▪ Budget restrictions▪ Time constraintsFormat▪ Face to face▪ Postal▪ TelephoneLayout▪ Paper quality▪ Size▪ Spacing▪ Typeface▪ Responding methodQuestions content▪ Are the questions necessary?▪ Will the respondent understand the questions?▪ Will the questions elicit the required date?Question phrasing▪ Clear simple and unambiguous words▪ Questions length▪ Biased, leading and double- barrelled questions▪ Negative questions▪ Question containing estimateSequencing▪ Use the initial question to gain interest▪ Move from the general to the specificEnsure that there is a logical flowResponse format▪ Open-ended▪ Closed-ended: multiple-choice, check lists, scaled responsesPre-test and revise▪ Need to be prepared to revise several times▪ Use a sub-sample of the intended respondent groupReliability and validity▪ Reliability = consistencyValidity = degree to which the questionnaire measure what it is suppose to be measuringQuestionnaire1. How old are you?15 ''   20….     21 ''   30….     31 ''   40….2. What is your gender?Female….     Male….3. Do you drink Coca Cola?Yes….     No….If yes go on to question 44. Where do you buy Coca Cola from?Cash and Curry….     Supermarket….     Local shop….     Any others please state fromwhere…………………………..5. What size Coca Cola do your prefer to buy?Can….     Small bottle….     Large bottle….6. How often do you drink Coca Cola?Once in a month….     Once a week….     Twice a week….     Nearly everyday….7. How do you find the taste of Coca Cola?Delicious….     Very nice….     Not bad….     Could be better….8. Are you looking forward for a new product of Coca Cola to be introduce?Yes….     No….9. Do you think it would be a good idea to launch a new flavour of Coca Cola?Defiantly….     My favourite flavour already exists I believe there is no need….Not really….Answer question 8 if you think it would be a good idea to launch a new flavour of Coca Cola10. What flavour would you prefer Coca Cola to do new?Strawberry….     Banana….     Raspberry….     Blackcurrant….     Pineapple….Coconut….11. Do you prefer this new flavour to be a soft drink or a fizzy drink?Soft drink….     Fizzy drink….12. Does the price of Coca Cola affect you buying it?Yes….     No….I feel that I have asked effective questions that most of the public will be able to answer. I will be able to gain the required information for my new strategy from it. If people do not agree with my chosen idea than I am ready to change it in order to make good profit.Analysis of questionnaireI gave my questionnaire to 100 people and I got very useful results. Here is an analysis of my results using graphs and explanations:1. How old are you?By looking at the bar chart I can see that out of 100 people that I gave my questionnaire to 49 were at the age group of 15 to 20 this was because most of the people I asked were students. 31 people were at the age group of 21 to 30 these included teachers and friends. Lastly 20 people were at the age group of 31 to 40 these were family friends.2. What is your gender?By looking at this bar chart I can see that out of 100 people that I gave my questionnaire to 52 people were males and 48 people were females.3. Do you drink Coca Cola?By looking at this chart I can see that out of 100 people that I gave my questionnaire to 72 people drink Coca Cola and 28 people do not drink Coca Cola. Having more people drinking Coca Cola is an advantage for me as I can get a lot of information from each person that drinks Coca Cola.The questionnaire that I gave out to 100 people had changed at this stage this was because 28 people stated that they did not drink Coca Cola and they could no longer carry on with the questionnaire. After this point all the analysis will be on 72 people not 100.4. Where do you buy Coca Cola from?By looking at this pie chart I can see that the place that most people I gave my questionnaire to, buy Coca Cola from local shops. 39 people buy Coca Cola from local shops, 15 people buy Coca Cola from supermarkets and 5 people buy Coca Cola from Cash and Curry. 13 stated others, which was pub and restaurant.5. What size Coca Cola do your prefer to buy?By looking at this chart I can see that out of 72 people 34 people prefers to buy Coca Cola in a can, 28 people prefer to buy Coca Cola in a small bottle and 10 people prefer to buy Coca Cola in a large bottle. I believe that the reason why most people prefer to buy Coca Cola in a can is because most of these people are students and young people. These people have stated that the reason why they buy Coca Cola as a can is because they eat it with a small meal. Reasons for people buying small bottles of Coca Cola is because they can drink some of it and close it until they want to drink it again. Reasons for people buying Coca Cola in large bottles is mainly for people that buy for their family and friends.6. How often do you drink Coca Cola?By looking at this chart I can see that out of 72 people 4 person drinks Coca Cola once a month, 13 people drink Coca Cola once a week, 28 people drink Coca Cola twice a week and 27 people drink Coca Cola nearly every day.7. How do you find the taste of Coca Cola?By looking at this chart I can see that out of 72 people 44 people find the taste of Coca Cola delicious, 23 people find the taste very nice, 3 people believe that the taste is not bad and 2 people state that the taste of Coca Cola could be better.8. Are you looking forward for a new product of Coca Cola to be introduced?By looking at this chart I can see that out of 72 people only 1 person was not looking forwards for a new product of Coca Cola to be introduced and 71 people are looking forwards for a new product to me introduced.9. Do you think it would be a good idea to launch a new flavour of Coca Cola?By looking at this bar chart I can see that out of 72 people 62 people defiantly believe that it would be a good idea to launch a new flavour of Coca Cola, 9 people stated that there favourite flavour already exists and that there is no need and only 1 person said not really10. What flavour would you prefer Coca Cola to do new?By looking at the graph I can see that out of 72 people 41 people wanted Coca Cola to do a blackcurrant flavour drink, 6 people wanted strawberry, 7 people wanted banana, 3 people wanted raspberry, 13 people wanted pineapple and 2 people wanted coconut. I can see that the flavour that the majority people wants Coca Cola to do new is blackcurrant.11. Do you prefer this new flavour to be a soft drink or a fizzy drink?By looking at this graph I can see that out of the 72 people 39 people wanted the new flavour to be a soft drink and 33 people wanted the drink to be a fizzy drink.12. Does the price of Coca Cola affect you buying it?By looking at this graph I can see that 45 people stated that the price of Coca Cola affect them from buying it and 27 people sated that the price of Coca Cola does not affect them from buying.Task 1 BAn explanation on how I collected by Primary and Secondary research and how I know my information is correctI found my Primary research by doing my questionnaire. I gave my questionnaire to 100 people, the information that I collected was very useful, I analysed my results by using graphs and explanations of each question I asked. My primary research is reliable information this is because I collected it by myself. An advantage for having a primary research is that the information I collected was not out of date.I found my secondary research by the following methods:|Sources                 |Why?                   |Advantage               |Disadvantage               |Judgement                 ||Internet               |Internet has the most   |Coca Cola’s website has |Some information might not |I believe that the         ||                       |useful information,     |useful information this |be reliable because you     |internet was useful it had||                       |Coca Cola has its own   |includes its history,   |don’t necessarily know who |useful information about   ||                       |website with useful     |range of drinks, what   |wrote it. Some information |the history of Coca Cola. ||                       |information.           |countries sell Coca     |was out of date.           |However I couldn’t find   ||                       |                       |Cola. It’s quick, easy   |                           |information about the     ||                       |                       |to use and cheap.       |                           |market share and sales.   ||Business AVCE Book     |To get general         |The book is more         |The book has out of date   |I believe that the book   ||                       |information. The book   |reliable because before |information that is not     |was only useful to give me||                       |contains some           |it gets published the   |really useful. The book is |an idea of what general   ||                       |information about what |information inside the   |irrelevant to Coca Cola it |marketing is about.       ||                       |secondary research is   |book has to be checked   |self. The book is also     |                           ||                       |and what sources I     |by several people.       |expensive.                 |                           ||                       |could use.             |General information     |                           |                           ||                       |                       |given of marketing.     |                           |                           ||                       |                       |                         |                           |                           ||Business Magazines     |To find relent         |Magazines get refreshed |Information was not         |Overall I believe that     ||                       |information on Coca     |nearly every week; it is|reliable and irrelevant to |business magazines are     ||                       |Cola e.g. financial     |up to date and cheap.   |the product.               |good because they are up   ||                       |matters and             |                         |                           |to date however I couldn’t||                       |advertising.           |                         |                           |find specific
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information ||                       |                       |                         |                           |about Coca Cola.           ||Coca Cola student       |I believe that this     |All the information is   |Some information is out of |I believe that this       ||handbook               |book will contain       |on Coca Cola, and there |order.                     |handbook is very useful as||                       |useful and relevant     |is a wide range of       |                           |it contains many           ||                       |information on Coca     |information.             |                           |information on Coca such   ||                       |Cola.                   |                         |                           |as packaging, brand,       ||                       |                       |                         |                           |history, manufacturing     ||                       |                       |                         |                           |etc.                       ||News papers             |In contains information|The information where up|The newspaper didn’t       |I believe that the         ||                       |about market ...

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