An evaluation of marketing research presentation — New Coke Essay Example
Mаrkеting Rеsеаrсh Рrеsеntаtiоn — Nеw Соkе
0Mаrkеting Rеsеаrсh Рrеsеntаtiоn — Nеw Соkе
5th November, 2015.
An Evaluation of Marketing Research Presentation – New Coke
The case study presented shows the responses of the consumers when the New coke was introduced to the market. The journey that was travelled when the New Coke was being introduced right to when it the idea of the New Coke was abandoned. The case presents the possibilities of what could have gone wrong in the introduction of the new Coke to the extent that, the manufacture of the New Coke was discontinued and the company reintroduced the Old Coke. What made the consumers of Coke dislike the idea of the New Coke or rather prefer the Old Coke to the New Coke. One of reasons as to what made consumers dislike the New Coke as indicated in the case is the methods which were used during the research process when the new coke was being introduced to the market which did disregarded the attachment that consumers have with the Old Coke. Consumer preferences in marketing are among the determining factors of whether a product fails or succeeds in penetrating the market.
How the topic has enhanced my understanding of Market Research
One of the lessons learnt through the New Coke case study is that, consumers are the key to whether a product succeeds of fails in the market. If consumers reject a product, then the product is bound not to succeed as is seen in the discontinuation of the New coke and the reintroduction of the Old coke. A product has to satisfy the consumers for whom the product is intended to (Schindler, 1992). It became hard for consumer to break their preference of the old coke over the new coke as taking the old coke had become like a culture or the norm and thus the introduction of the new coke did not amuse the customers. Marketers can therefore learn that, it is not easy to change the culture of consumers and therefore, proper market research has to be done when a new product is being introduced to the market.
Consumer’s have attachments with the products that they consume. This saw the reintroduction of the old coke in the market after the new coke failed. One of the major lesson to learn is that, when introducing a new product, it is not wise to leave anything to chance as seen in the market research when the new coke was being introduced. The company failed to research whether consumers would feel bad if the old coke was removed from the market. The company assumed that, taste was the determining factor when it came to buying coke and undermined the emotional attachment that the customers have with the old coke. The market research failed to acknowledge that, the old coke had become a part of the culture of the people and therefore not easily replaceable.
During market research especially when a new product is being introduced in the market, it is advisable to ask clear questions which the consumer can give first hand answers without much confusion (Foong & Ki, 2015). For instance, in the market research to introduce the new coke, the questions would have been directly framed as to whether the consumer would prefer the new coke flavor or the old coke flavor. However, asking consumers whether they would feel it is the old coke was discarded made them react emotionally for they had a strong attachment to the old coke more than the new coke and thus the failure of the new coke launch in the market. Unclear questions leads to unclear answers and therefore, no definite conclusions can be made from unclear questions to consumers (Schindler, 1992). If the questions were more definite and direct, the company would have had definite answers which could have guided them as to whether the consumers preferred the new coke to the old coke.
Above all of the lessons learnt from the market failure when introducing the new coke, the overarching lesson is that, in marketing, the consumer is the king. Market research has to focus on the emotional value the consumer has with a product, the tastes and preferences of the consumers and that proper market research has to be conducted when a new product is being introduced. Companies cannot rely on only one valuable in this case, how coke relied on the tastes to predetermine that the consumer prefers the new to the old coke.
Other Readings on the same topic that have been identified
Other readings which have been identified includes but not limited to;
Consumer preferences in determining the success of a product
Emotional attachment of consumer to a product is evaluating whether a product fails or succeeds in the market.
Consumers preferences vary from time to time depending on the value that they have placed on a product, for instance, initially, the consumers preferred the taste of the new coke than the old coke. However, this changed over time due to the culture and the emotional attachment that they had created with the old coke.
Companies should use various research methods in evaluating market feseability of a product, more so for a new product.
Foong, J., & Ki, K. (2015). New Coke: How Market Research Can Fail. Presentation, University of Canberra.
Schindler, RM (1992), ‘The Real Lesson of New Coke: The Value of Focus Groups for Predicting the Effects of Social Influence’, Marketing Research, pp. 22-7, viewed 22 August 2015, <https://archive.ama.org/archive/ResourceLibrary/MarketingResearch/documents/9602193014.pdf>
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