Statement of Project Rationale and Proposed of Coca Cola Company

        The project will be carried out with a clear objective and rationale in order to enhance success chances. Project objectives will relate to all activities carried out within the project in order to align all these activities and ensure the accomplishment of project goals. For this purpose, some important objectives and goals are developed in the project. The prime purpose of this project is to carry out such activities which can provide a better understanding of the targeted and customer market of a client company (Sekaran & Bougie, 2016). How customers of that particular company react towards offered products and how often they buy these offered products from the company to fulfill their need or desires. Furthermore, the project rationale is to enlighten all the possible research methods which can be utilized to reach the conclusive arguments and findings. The key proposed objectives of the project and report are enlisted below:        

To highlight key areas containing importance for the agency in developing a robust proposal.

To obtain information about market specifications including brands

To collect information about the trends of beverages taking for coca-cola customers

To demonstrate the buying habits of Coca Cola customers

To describe the market size for the Coca Cola Company.

To select the most appropriate method of research for Coca Cola Company

            All these objectives related to the project and report will be taken into consideration throughout the whole project. All the important information discussed above will enable the market research agency to understand the specific details of their clients market. Although, the accomplishment of these objectives will benefit the Coca Cola Company in understanding their customers and selecting the best action plan for future marketing and business-related operations in the studied geographical areas and demographic segments.      

Possible Research Methods of Coca Cola Company

             Conducting research in the targeted geographical and demographic segments of Coca Cola Company is important for the company to understand the current trends and requirements of their targeted customers. Considering the importance and requirement of Coca Cola Company there is a need to utilize the best also possible research method to accomplish all proposed activities and developed action plans. Market research methods somewhat represent the methods and ways through which an organization can collect primary or secondary data regarding their selected market (Sekaran & Bougie, 2010). The methods and ways through which primary and original data can be collected are known as Primary research methods. Besides, the methods through which research market agencies can collect secondary data are entitled as secondary research methods. The research techniques and ideas used for primary and secondary research method are quite different from each other. Some specific details and techniques regarding both research methods primary research method as well as a secondary research method are presented below:

Primary Research Method of Coca Cola Company

Primary research method collects original information and direct responses of customers or selected market. The primary research method ever collects information from the original source rather than relying on secondary sources such as published data in articles and academic books. The primary research method includes several techniques of studying selected market a few of these are direct observations, interviews, and survey data collection (Stone, et al., 2004).     

 Secondary Research Method   of Coca Cola Company

           Secondary research method obtains information from available information pools and secondary information sources. Some techniques and ideas used to generate secondary research data are internet information pools, existing results of previously done market surveys, and analysis of the customer databases or stock lists (McQuarrie, 2006).          

     Furthermore, research methods are also classified as a quantitative research method and qualitative research method based on the difference in the collected data or information.

Quantitative Research Method of Coca Cola Company

        The quantitative research method is related to the collection of numerical information and statistical information. The numeric data collected from this method usually relates to sales figures, financial trends, the survey on customer return frequency, frequency of buying a particular product, and consumption ratio of a product by the customers. Such information can be obtained through the online or phone questionnaire as well as direct feedback collected related surveys carried out by the organization (Housden, 2007).   

Qualitative Research Method of Coca Cola Company    

        The qualitative research method provides views and attitude related to subjective information about the targeted customer market. The qualitative research includes focus groups and formal conversation with customers, and reviews of competitor companies. Qualitative research method does not provide enough details about the sales and other numeric information although it can support in understanding the attitude and overall behavior of the buyers and proposed customers.