A Market Research Report on Launching 'Bouble UP' for Virgin Cola

This report presents a market research analysis for Virgin Cola's new product, 'Bouble UP,' focusing on attracting customers and improving profitability. The research outlines the company's mission, market research methodologies, and the role of market research in identifying customer needs and market opportunities. It details the steps involved in market research, including defining the problem, developing a research plan, collecting and analyzing data, and taking marketing actions. The report also highlights the background to the problem, the challenges faced by Virgin Cola, and the SMART objectives set for the new product launch, such as maximizing sales and increasing market share. Furthermore, it explores customer segmentation, research plans, and the significance of the research. A literature review discusses the importance of launching new products, benefits of the new product for Virgin Cola, and strategies for increasing market share and achieving a competitive advantage against competitors like Pepsi and Coca-Cola. The report provides a comprehensive overview of the market research conducted for the successful launch of 'Bouble UP'.

Market Research

Table of Contents
TITLE..............................................................................................................................................1
Introduction .....................................................................................................................................1
Conclusion.....................................................................................................................................17
Recommendation ..........................................................................................................................18
REFERENCES .............................................................................................................................19

TITLE
“To launch a new product Bouble UP to attract customers for improving the
profitability of an organisation”. A case study of Virgin Cola.
Introduction
Virgin Cola is a mostly defunct brand name of carbonated cola soft drink manufactured
of Silver Spring and Virgin group. It is available in bottles and cans. This business was
introduced in 1994 by Richard Branson in United Kingdom. Mission of the company is to be the
user champion with the support of their brand value, which are value for good quality, money,
innovative, brilliant customer service, competitively challenging and fun (Cheng,White and
Chaplin, 2012). Company has decide to lunch new product in marketplace which will help them
to easily attract large number of customers and improve their profitability.
Market research
Market research is identify as an effective process that relates the customers, producer,
and end consumers to the market via data followed to define and identify marketing
opportunities and issue. In the organisation, market research play vital role for identifying needs
and wants of customers and marker. It will also essential for the company to easily understood
about the political, social, technological, environmental, technological and legal situation of
country.
Role of market research: Market research is an effective process and includes different steps
which are determined as under:
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Step 1: Define the Problem: It is a first step in which marketing manager set a research
objectives and identify possible marketing actions. In this research main problem is lack f fund
and resources while lunching new product at marketplace.
Step 2: Develop the research plan: In this step, marketing manager play an effective and essential
role about collecting information from the respondents about the research topic. In this primary
data is used to collect accurate and appropriate information from the respondents.
Step 3: Collect relevant information: There are basically two types of data collection methods
such as primary and secondary. In case of primary source, investigator need to prepare a
questionnaire which will support in accumulating accurate response from the respondents. On
the other hand, secondary source, different books, journals, are used to collect proper
information from the respondents.
Step 4: Develop Findings: In this stage, investigator analysis the information about the research
topic and present all findings in appropriate manner.
Step 5: Take marketing actions: It is a last part which is important for the researcher to make
valid conclusion and recommend to the organisation about how to implement new product at
marketplace.
Background to the problem:
Virgin Cola decide to implement new product such consuming flavoured water in
marketplace in which they face different issues about the channel of promotions. Lack of
knowledge about their brand and many other issue. All these are highly impact on business
performance while they lunch their new product or service at market. There are different
challenges are faced by Virgin Cola while they decide to innovate new product at marketplace.
Some issue such as social challenges, technical challenges, Legal and Regulatory Challenges,
Distribution Challenges and Promotional Challenges. All these will hinder on business
performance and profitability in a direct manner.
SMART Objectives:
This is a main part of the market research which is essential and useful for the company
to set Smart objective. It is essential for business managers to get the procedure of setting
objective accurate, as inadequately formulated objectives or aims could lead a team, organisation
and an individual in the wrong direction (Moore and et. al., 2012). Measurable and specific
objectives give a definition of the progress of a initiative or project. Realistic and achievable
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objectives motivate and engage individuals. At last time bound objectives see that entire
stakeholders agree or accept when it is to be attained. Three main SMART objectives about
growth and success and company at market are explained as under:
 To identify the importance of lunching a new products of Bouble UP to attract large
number of customers.
 To maximise sales of Bouble UP up to 20 % within 1 year.
 To achieve long term sustainability within 2 years.
 To analysis benefits of lunching new product for Virgin Cola.
 To increase their market share by 20% share within 1 year of time period.
 To provide 10 different flavours of drinks to compete with Pepsi and Coca cola and
attainment of competitive advantage within 6 months of time period.
 To improve quality of drink to increase customer base and loyalty by 5% through
implementing innovative technologies within 1 year of time period.
Customer will buy Product of Virgin Cola: Virgin cola is a famous brand name that
decode to produce new product to the customers. Bouble UP is a quality and affordable product
for the all level of customers.
Problem faced: One of the major issue faced by customer is lack of advertisement,
suppliers and many other.
Segmentation: In this 14 to 60 years people are segmented to buy Bouble UP.
Research plan: It is an effective and essential part for the researcher to collect proper
information from the respondents. This process includes some steps which are determined as
under:
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Collect information: It is a role of researcher to collect accurate information from the
respondents. In this they should used primary source of data collection and prepare a
questionnaire.
Process information: It is another part through which investigator need to analysis information
about the process regarding how to complete all activities within predetermined time period.
Analyze information: In this researcher analysis best information which support an investigator
to complete all activities of research in given time period.
Interpret Findings: In this, researcher interpret all finding which is found with the help of
questionnaire. This it is useful and appropriate for the researcher to analysis accurate response of
respondents about the topic.
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Draw Conclusions: At this level, investigator draw a valid conclusion which help them to
accomplish better results and done each and every activity of research within predetermined time
duration.
Report to management: In this, marketing manager report the top level management about the
information which is gather by the respondents.
Research Aim:
It is another section of market research which is more important and essential because
entire activities of research is depend on research aim. Main aim of market research is “To
launch a new product Bouble UP to attract customers for improving the profitability of an
organisation”. A case study of Virgin Cola.
Significance of the research
Market Research is identify as one of the main and essential part for the each and every
organisation to analysis market issue and tools of overcoming that issue in an effective manner.
This research is more essential and important for the company to analysis importance of lunching
new product at marketplace (Bougoure and et. al., 2016). With the help of market research,
organisation also analysis different ways about how to achieve better outcomes within
predetermined time period.
Rational of the research
Main reason behind conducting market research is to launch a new product Bouble UP to
attract customers for improving the profitability of an organisation . This is more essential and
significant for the researcher to identify ways of success and progress at market. With the assist
of market research, company will be maximise their market share by 20% within one year. It will
also essential for the organisation to compete their challengers by providing 10 different flavours
in drinks. Thus, it will highly essential and significant for the Virgin Cola to achieve competitive
advantages within 6 months of time period (Broderick and et. al., 2013). Market research is also
beneficial for the organisation to attract large number of customers and maintain their loyalty by
implementing advanced technology and improving product quality. Therefore, research is more
essential for the business to maintain their brand value and awareness across the world.
Literature Review
This is most important and essential section of the research which is a type of review
article. It is a kind of scholarly paper which covers current understanding about substantive
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findings, as well as methodological and theoretical contributions to a research topic. It is a
secondary source and do not report original and new experimental work. This section is based on
research objectives in which different authors and writers are give their opinion about how to
overcome all issues systematically (Liao and Cheng, 2014).
Importance of lunching a new products to attract large number of customers.
Concept of new product is more essential and important for the growth and success of an
organisation. Beside this, Virgin Cola decide to innovate consuming flavoured water that is made
up of healthy content. It is also essential and important for the organisation to maximise
customer base in the enterprise. With the help of this concept, business can easily complete their
challengers and achieve better outcomes within predetermined time period.
Benefits of lunching new product for Virgin Cola.
There are different benefits of lunching a new product to the organisation. Some benefits
are determined as under:
Increase productivity: Lunching a new product will support an enterprise to maximise
their productivity. For this business should try to produce quality products at reasonable price to
the customers. Thus, it will assist Virgin cola to achieve better outcomes within predetermined
time period.
Maximise customer base: Concept of new product development also beneficial for the
Virgin Cola to attract large number of customers. Today, customer's are more passives towards
quality products so it is the responsibility of company to give quality products to the clients.
Retain long run sustainability at marketplace: Company decide to lunch new product in
marketplace which is essential for them to retain long run sustainability at marketplace. It will
also support an enterprise to achieve better results in given time period.
To increase their market share by 20% share within 1 year of time period.
In US marketplace, company has 0.5% share which is not sufficient for the success and
growth of company. Beside this, company wants to increase their market share by 20% in 1 year
of time period. For achievement of this, Virgin Cola use different strategies which are
determined as under:
Build a referral program: As per the point of view of Cheng, White and Chaplin, (2012)
it is identify as one of the main strategy for the Virgin Cola to increase their market share within
I year by 20% (Effective Ways to Increase Market Share, 2018). It is a role of business manager
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to build a referral program which will help the customers to understand about the business
products, services and process. In this company can provide information through social media,
email and website. All this will help an enterprise to maximise their market share and retain long
run sustainability at large scale.
Increase engagement with customers: It is also identify as a main and effective tool
which will be use use by Virgin Cola to increase their market share up to 20%. For this, manager
of company play vital role in engaging customers which will help them to maintain their current
share ans move more new clients into loyal buyers. They should communicate all information to
the customers via email and social media in frequent basis. For maximise share, Virgin Cola
should also send a survey after each and every order asking clients for feedback regarding the
delivery, ordering process and many other issue.
To compete with Pepsi and Coca cola and attainment of competitive advantage within 6 months
of time period.
Coca-Cola and Pepsi, both are famous brand across the globe. Both business are highly
impacted on growth and success of Virgin Cola. In order to compete both challenger and attain
completive advantages company should try to provide 10 different flavour in its drinkable
products. Various flavour in coke will support an enterprise to achieve better results and outputs
within predetermined time period. For achievement of competitive benefits, company should
increase flavour in their coke products. It will be essential and important for the success and
development of company at large scale. There are another ways to compete their challengers,
some are determined as under:
Provide 10 flavour in drinks: In order to compete with challengers and achieve
competitive advantage, company decide to lunch different flavours of drink. In this they
includes, Mint-flavored soft drink, orange drink, citron- flavoured, Strawberry soda, Romanian
soft drink, Jarritos tamarind soda and so on. All these flavours are help and support Virgin Cola
to easily compete their challenger and retain long lasting position at marketplace.
Know the competition: It is a role of business manager to find out their competitors and
what they are providing to the customers. As per the point of view of Moore and et. al., (2012) it
is a one of the best area to compete their challengers and achieve long term goals and objectives
in given time period.
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Know the customers: When economic condition of the country are unstable, expectation
level of customer's are change on the basis of dramatic. In this business manager play vital role
for identifying the needs of customers about product and pricing strategy used by company.
Thus, it will help them to compete their competitors and gain competitive advantages within
predetermined time duration.
To increase customer base and loyalty by 5% through implementing innovative technologies
within 1 year of time period.
Customer are major and important part for the development and success of company at
different places. Thus, it is the role of manager to maintain long lasting and strong relation with
the customers. According to the Bougoure and et. al., (2016) smart objective of Virgin Cola is to
maximise number of customers and their loyalty by 5%. For achievement of this, company
should provide quality in their product to the customers at reasonable rate which will help them
to improve their success at market. There are some aspects which will help an enterprise in
maximisation of customer base and loyalty by 5% within 1 year of time period are determined as
under:
Improve quality of drinkable product: It is a role of business manager to enhance quality
of their products which will help them to maximise customer's base and long term relation with
customer. Virgin Cola should includes different flavours in their drinkable products and give it at
reasonable price. Thus, it is more effective and beneficial for the success and progress of
company within 1 year. Along with this, business should try to provide all information about
their services, products and process to the customers on daily basis. Thus, it will help an
organisation to increase customer loyalty and number which will further support the business to
accomplish better outcomes.
Implementation of advanced technology: It is another important and essential way
which is used by Virgin Cola to attract large number of customers and maintain loyalty with
them. Beside this company decide to implement mobile technology in their organisation. With
the help of this technology, company easily provide their all information which will support an
enterprise to maximise base and loyalty of customers.
Research Methodology
This is another more essential and significant part of the research which is use by
researcher in order to collect data from the respondents (Xie and Heung, 2012). Research
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methodology is the specific process and tools used to select and evaluate information regarding
the topic. There ate different methods which are applied by the researcher to gather accurate and
relevant amount of information from the respondents. Some methods are determined as under:
Market research Instrument: There are two types of research instruments such as questionnaire
and mechanical. Both re essential and valuable for collecting accurate information and data from
the participants. Under mechanical instrument, checkout scanners, people meters and
physiological measure are includes. On the other hand, questionnaire is another method for
collecting information from the respondents. It is useful and valuable method for the investigator
to collect proper information from the respondents.
Research Paradigms: It is based on qualitative approach which is identify as a scientific
approach of observation in order to collect non-numerical information. This kind of research is
refer to the meaning, characteristic, concepts definition, symbols, metaphors and description of
things. It is also important and essential way of collecting accurate data and information from the
respondents.
Research strategy: It is refer as a step-by-step plan of action that provides an accurate
direction to their efforts and thoughts. In this they enable to conduct research activity in
systematic manner and on schedule to offer quality outputs and detailed reporting. There are
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seven types of research strategies such as experiments, survey, case studies, ethnography,
grounded theory, action research and archival research (Jameson and et. al., 2013). Along with
them, research strategy is based on inductive and deductive approach. As per the research topic,
researcher use inductive approach because it will assist them to draw valid conclusion.
Sampling approach: In order to answer the research question, it is uncertain that
investigator should be capable to gather information from entire cases. Thence, there is a
requirement to choose a sample. There are mainly two type of sampling approach one is
probability sampling and other one is non-probability sampling. In case of probability sampling,
there are different methods such as simple random, stratified random, cluster sampling,
systematic sampling and multi stage sampling. On the other hand, under non-probability
sampling, there are also different methods including Quota sampling, Snowball sampling,
judgement sampling and convenience sampling. All these are useful and valuable but as per the
research topic, researcher only apply probability sampling method. With the help of this,
researcher select sample size by 30 respondents through simple random method.
Data collection techniques: Data collection is important and useful for the researcher to collect
accurate information from the respondents. There are different techniques of data collection,
some are determined as under:
Questionnaire and survey: This is identify as an effective process collecting, analysing
and aggregating the responses from the research question. Questionnaire can de classified as both
qualitative and quantitative method which depend on the question nature (Allen and et. al.,
2013). Survey is another important part of gathering data from the respondents about the
research topic.
Interviews: It is another type of data collection technique which is applied by researcher
to gather right information from the respondents. It is also essential and useful for the researcher
to collect data in accurate and proper manner.
All these are useful but as per this research, investigator only use questionnaire and made
different themes. This method is more appropriate because it include maximised speed of data
assumable, requirement of low or no cost etc.
Data analysis methods: For collecting accurate and proper amount of data, there are basically
two types of essential method. One is primary source and second one is secondary source of data
collection. Both are more significant and useful method for gathering accurate information from
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