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Marketing research

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Introduction

Marketing Market research, one of the key factors to a businesses success in its industry. The primary function of market research is to identify the customers needs and views, also allows a business to access thorough information of the industry it's planning to work within, it also allows the company once its analysed the information to adjust how its run to cope with demand and other aspects which could affect the outcome of their profits at the end. Market research can be carried out through primary research, secondary research or both. It is also the promotion of the product/service, which a company is selling; promotion is vital to a company's success due to the fact that, if the public doesn't know that a product exists how will they buy it? Most large company's have their own marketing department to deal with all the necessary information which they receive from their sales figures and market research, also they process this information, interpret it and distribute the information the way they see best fits the situation. Primary research Primary (also known as field) research means asking someone for his or hers views or opinions. You will have to ask appropriate questions to find out the information you need. In market research this is called a survey. ...read more.

Middle

Marketing, Cadbury Schweppes Cadbury Schweppes, as a global corporation they depend on the effective use of marketing in every aspect from sales to market research. This was shown in 2002 when they upped they're marketing expenditure by a considerable amount from the year before (2001); "Our total marketing expenditure in 2002 was �547 million. At constant exchange rates this represents an increase of 12% over total marketing spend in 2001. Our marketing to sales ratio increased to 10%, the sixth consecutive year of increase in this key indicator of marketing investment." (Taken from the Cadbury Schweppes website, www.cadburyschweppes.com) This information shows how increased marketing expenses and effective use of it can increase a company's performance and its sales. Marketing is important for a company such as Cadbury Schweppes because it is such a large company, which depends on precise information so its able to run effectively, also different types of research are needed for their different products because after all Cadbury Schweppes in a confectionary and beverages provider to the world. Being such a large company and also having such a large marketing expenditure (as show above) you would expect Cadbury Schweppes to have marketing campaigns all over the place, but they've smartly used their resources effectively by incorporating information from their research into their products, like no GM products are found in their food now, this appeals to many customers nowadays as they require healthier and safer alternatives. ...read more.

Conclusion

"In September 2003, McDonald's announced a sponsorship deal involving the pop star Justin Timberlake. He will appear in five advertisements throughout the English-speaking world, promoting the company's products. The company also will sponsor the singer's world tour, but refuse to say how much they are paying him although some experts suggest it's in the region of $6 million (�3.6 million). The marketing campaign will be entitled 'I'm Lovin' It' and the associated tour of 35 European cities is entitled the "McDonald's Presents Justin Timberlake 'Justified' World Tour 'lovin' it' live"." (Taken from www.bized.ac.uk) Another sort of promotion McDonalds has been trying is sponsoring, by doing this McDonalds has funded local schemes such as the "grassroots football", but at the same time its promoting itself as a very charitable company and this may appeal to customers and convince them to eat out at McDonalds By effectively using their resources and the research, which they gathered, they produced an effective and quick campaign to boost their sales again in the US and other countries where sales lacked for a small period. From the "I'm lovin' it" scheme alone they boosted sales within a year in 2003 to once again gain some profit from sales, also to improve on sales figures McDonalds improved there current menu by adding a more wider range of meals and also made adjustments to current meals on the menu. ...read more.

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