Research Problem of Coca-Cola Case Study Example | Topics and Well Written Essays - 1000 words - 1

Research Problem of Coca-Cola - Case Study Example Therefore, this called for a change of strategies by Coca-Cola and their option was to introduce a new product that offered the same feature like their competitors. In this case, they had to conduct a research in order to introduce a new product to market. Â  After the investigation, they identified that Pepsi was offering a product that had a sweeter taste and this contributed to a growth in the preference resulting in increased market share. Coca-Cola commenced a research project, whereby they spent two years and $4million prior to settling on a new formula. They conducted 200, 000 taste test on the final formula and a blind test, whose results were sixty percent of the consumers choosing the new formula over the old one. In fact, fifty-two percent of the customers choose it over Pepsi, and this was an indication that new coke would assist in dealing with the problem of losing the market share to Pepsi. Â  There was a narrow definition of the research problem by Coca-Cola, given that the research emphasized on the taste only and ignored the feelings of the customers in relation to replacing the old Coke with a New Coke. Therefore, Coca-Cola Company should have investigated on other intangibles such as the band name, history, packaging, cultural heritage, and reputation. In fact, they forgot that the symbolic meaning of coke was more important to the consumers than the taste. Moreover, Coca-Cola should have focused on the conducting a marketing research considering these emotions. Furthermore, there was a poor judgment during interpretation of research planning strategies by the managers. Â