Britvic Market Research

3 Explain why market research and the information gathered are important to an organisation like Britvic.

Market research and information is vital to a company. This information can boost a company if correct and ruin sales and profit if it is wrong. By conducting research using various methods a company is able to build a profile of its customer base and ultimately supply a product that will sell. It is also able to find out what or who the company is in direct competition with whether it’s another company or product.

4 Explain how Britvic might collect and use market research information. Include one quantitative and one qualitative research technique in your response.

Information can be collected using various methods. Questionnaires, focus groups, telephone surveys, and customer interviews are just a few examples of how a company might collect information. The information collected will be used to create a product that the company is not selling but the customer is demanding, it could be used to improve one of its current products, or even remove a product from the market due to a poor customer response. Quantitative research surveys regarding preferences towards certain brands or products, which give a large mass of data that can be used to give numerical value to the company. This type of research can be very accurate as it is based on number and not a person’s opinion. Qualitative research could be a questionnaire to the consumer, it can target anyone however as result s are personal to the individual he or she may not give accurate results, due to not understanding the question, or not wanting to be bothered so just putting down any results instead of answering the questions honestly.