Marketing Research Assignment : PDB

Added on - 24 Apr 2021

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Running head: MARKETING RESEARCHMarketing ResearchName of the Student:Name of the University:Author’s Note:
MARKETING RESEARCH1Table of ContentsAnswer to Case Study Question:.....................................................................................................2Reference List..................................................................................................................................5
MARKETING RESEARCH2Answer to Case Study Question:Market research is defined as the activity of collecting, analyzing and interpretinginformation regarding a specific market regarding a product or service which is going to beintroduced in the market (Babin and Zikmund, 2015). The research also collects and analyzeinformation about the past, current and potential future customers of the product. Theinformation set of the customers include data regarding the characteristics, ability to spend andpreferences of the customers. This in turn helps the organizations to determine the target marketwhere it will introduce the product and determine the target audience for the product in aneffective manner (Xieet al., 2017). Presently market research is considered to be the backboneof all new successful business ventures.In the context of the given case study the key problem of PDB was regarding thepositioning of its newly acquired product Crescent Pure. Some people of the management teamsuggested that as Crescent contains some energizing ingredients it should position its products inthe energy drinks segment. On the other hand, some of the other people suggested that Crescentshould be introduced in the sports drinks segment as it contains hydrating elements. Now thevice president of Portland Drake beverages (BDB) is credited with the responsibility ofdetermining the benefits and drawbacks of the available positioning strategies and determiningwhich will be the appropriate segment where launching Crescent would be beneficial for PDB.The data obtained by conducting a market research on the energy drinks market suggestthat, the market was expanding and since 2010 to 2012 the market has expanded by more than40%. It was projected that the market for energy drinks will reach $8.5 billion in 2031 in theUnited States and it will be worth of $13.5 billion by 2018.
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