Nov 26, 2020 in Management

Company

Tefal

Ford Motor Company

The Coca-Cola Company

The objective of the research

The purpose of the study was the evaluate the efficiency of the marketing approaches applied by the company. Also, the research was exploratory in nature and aimed at collecting provisional information. The study was designed to identify problems and test hypotheses more accurately (Shani et al. 2008). Therefore, the study was carried out as a prophylactic measure, without a pressing need, but it was very efficient and helpful.

The company wanted to know the opinion of the buyers about a new line of cars Thunderbird, released in 1955. Although the company reached a good level of sales, its management still believed that there was room for improvement. Therefore, the research aimed to find out the demand for the product in different strata of the population as well as determine the changes to be implemented into the design of the car. The manufacturer wanted to create the perfect car that would attract customers in all respects (SolidWorks 2010).

The goal of this study was to determine the possible effects of changes in the volume of sales, the company's strategy, and the elements of a complex marketing mix: product, price, point of sale, and advertising. The research was conducted to achieve a greater certainty regarding sales; get a more accurate picture of the feasibility of market segmentation; and detect errors in the marketing mix. This experiment aimed at determining how many buyers of a particular segment are fans of the drink, thus the drink's popularity among the young population.

The approach used and its result

Tefal has chosen a poll as a research method in this particular case. It includes the interaction between the interviewer and the respondent on a subject by obtaining responses to advance questions. In each case, the poll suggests a direct appeal to the respondent and is aimed at determining those aspects that are not suitable for direct observation.

The research was crucial in revealing important flaws in the company's marketing approach to advertising a frying pan. The company for a long time believed that the major motivation for the customers to buy a frying pan with Teflon coating was the fact that such frying pans did not require oil for food preparation. However, according to the survey, the main incentive for the respondent's purchase was that, with such a coating, the pan is easy to clean because the food does not stick to its surface. As a result, the contents of the campaign changed, which greatly increased its efficiency in the long run. Thus, due to the direct interaction with its customers achieved through the poll, the company obtained valuable information, which other research methods could not provide.

Vehicles belonging to the category of products that are the most common subject of qualitative marketing research. The company Due to the method of focus groups, it was revealed that the customers wanted to see a more spacious vehicle with a rear seat. The manufacturer decided to provide an improved 4-seater model and presented a 4-door Thunderbird. As a result, the elegant sports car model was replaced by "one more typical car." Later, it was reported that the company Ford would upgrade this line to return it to the original model.

The company applied a marketing experiment, which is causal market research to check a real process of sales and study the factors affecting its course. The experiment was conducted by the German representative of The Coca-Cola Company (Banutu-Gomez 2012). The essence of the experiment was that the readers of youth publications were offered to send an SMS with a photo of a Coke logo taken on a mobile phone camera or make a post. Using special technology, the company would send a game for a mobile phone - Home Turf- to the user. If a person's phone were not compatible with Java, a picture would be delivered to such a device. Thus, according to the data provided by Managing Director Hartmut, marketing studies have shown that the share of posts for Coke has exceeded the number of ordinary SMS messages in the same market segment. He also noted that after such a marketing experiment, several advertising agencies decided to launch similar experiments in different countries.

Advantages of the method

The advantage of this method is its simplicity, efficiency, and economy. Conducting the poll does not require high costs as surveys can be carried out directly in the shop that sells a product or even on the Internet, on the manufacturer's website, or social networks. Using this method allows getting the assessment information directly from the customers. Moreover, information from the poll helped to define what the main characteristics of the product are and focus on them when developing the advertisements. Focusing on the aspects that attract customer attention will lure more buyers and increase profits.

The positive aspects of this method are that making a test drive for a focus group can be regarded as a kind of advertising course. Also, this approach makes it possible to understand the attitude of the consumers to the product that is only going to the market and is in the "finalization" stage. Determining the pros and cons of the product allows making the needed amendments to meet the requirements of different buyers.

The ability to minimize losses from the inefficient changes in the elements of a complex marketing mix is the main advantage of this method of research. It is also possible to obtain data on actual changes in consumer behavior with changes in advertising or marketing policy of the product: price, positioning, or advertising.

Disadvantages of the method

The method applied has proved rather efficient and caused more positive than negative outcomes. In this case, the company has made the right conclusions based on the obtained results. It had changed its marketing campaign and increased profits. However, the company had to abandon the original concept that offered customers to save the cost of oil and replace it with an easy-to-use and pragmatic frying pan.

The results of this study affected the original idea of the manufacturer. The company had to abandon the production of luxury sports cars and sell ordinary family cars (Haas-Kotzegger 2013). Although the original idea was good and brought the company a good income.

The method is related to significant time costs, which are among the main weaknesses of the method. It is especially evident when it is necessary to reveal the results, such as an advertising campaign (Euromonitor International 2013). The weaknesses include the high cost of the method and the complexity of the process. Also, there is a possibility of information leakage about the upcoming changes in the company's marketing strategy.

Conclusion

To avoid unpredicted changes in the marketing approaches used, the company should understand the criteria important to the buyer and focus on them. The information obtained via research can be used as a powerful tool to get ahead of the competitors.

To overcome the negative side of such investigations, the manufacturer must have a clear understanding of the market demand, the company's positioning on the market, as well as the target buyer, thus choosing the correct market segment. The information obtained helps the company get an understanding of important marketing aspects. For example, if it wants to sell a unique car, it must ensure that its product is highly appreciated by a few. A typical product will appeal to many customers, but it cannot cost more than similar products on the market.

Competent preparation and organization of the experiment will help to exclude weaknesses of the method. Analyzing all the negative possible scenarios and being ready for them will help the company to avoid losses as a result of the experiment. The information obtained is valuable in understanding the situation on the market in terms of the number of readers and the popularity of particular mobile devices.

Do you have only a couple of days or even hours to prepare you essay writing? Our writers will cope with your order in timely manner!

Related essays