QS170079- PHẠM THỊ BÍCH DÂN

Task: The marketing research process has several very distinct and important stages that need to be

followed. In your opinion, which are the two stages that you think are most important? Justify your

view on it.

In today's modern developed society, the marketing research process is one of the important and

indispensable processes for every company. Any company that wants to release or launch a new product

must have marketing research. No matter how big or small the product is, any product requires marketing

research because the company needs to know what vision customers have for its product and whether its

product is right for them. goods or not. Indeed, marketing research is very important to every company

because it is the systematic design, collection, analysis, and reporting of data relevant to a particular

marketing situation that an organization may face. must face to face. Or to put it more simply, the process

of finding answers to the questions: What is the customer's desire? Who are your company's competitors?

How to make your product popular with customers? Marketing research consists of 4 main stages

Defining the problem and research objectives, Developing the research plan, Implementing the plan, and

Interpreting and reporting the findings. But in my opinion, the two most important stages are Defining the

problem and research objectives and Developing the research plan.

Defining the research problem and goal is an important core stage that determines the success of a

company's new product launch. This is the most important step. Marketing must work closely together to

define the problem and work towards the research goal. It is necessary to clearly understand what

information is needed and collect information. After the problem has been identified in a specific and

precise way, the researcher will move on to setting research objectives. Research objectives can be one of

three target categories: Exploratory research, Descriptive research, and Causal research. Thus, if the

problem is wrongly defined and the target research is inaccurate and ambiguous, all the following stages

are vain and worthless. There is a proverb that says: The limit is the sky. If you are a great leader, what
happens when you launch a new product? In fact, quite a lot: You can succeed wildly, but you can also

fail miserably. In 2011, according to Harvard professor Clayton Christensen, who researched and said: On

average, more than 30,000 new products are launched each year, but 95% of them are failures(1).

According to Professor Inez Blackburn of the University of Toronto, the failure rate of new grocery store

products is 70% to 80%(2). Big companies like Coca-Cola, Colgate are no exception..In 1985, Coca-Cola

launched New Coke to replace Classic Coke products. Because of the process of defining the problem and

the research objective of this enterprise, the researchers forgot to ask an important question: "How will

consumers feel if the company gives New Coke Replace the Classic Coke product?" It was that mistake

that made Coca-Cola pull New Coke out of the soft drink market and immediately replaced all with the

Classic Coke that people loved at first sight(3). If they had defined the problem and research objective

correctly, they wouldn't have spent millions of dollars reinventing themselves and suffered a catastrophic

marketing failure. If they ask the right questions, Coca-Cola will know that Classic Coke is already the

best version of their company. Colgate in their product development career wanted to break into the real

business. A ready-to-eat frozen product called Colgate's Kitchen Entrees. This decision made Colgate

bitterly see the purchasing power of Colgate toothpaste products decrease significantly. Colgate failed

with that idea because they didn't define their problem from the start: Colgate was known to consumers as

toothpaste - something that couldn't be swallowed, not a treat. It is because of that mentality of consumers

that makes Colgate fail(4). It's not just Coca-Cola and Colgate, but many large businesses fail with

products right from the get-go because they make mistakes in problem identification and market research.

Once the research problem and objectives have been identified, market researchers move on to the

equally important stage of developing a research plan. The research plan is the heart of a research project

because it helps a company define the focus, methods, and goals of its product and outlines the research

project from start to finish. That's why it's like the path that the researchers have outlined for the company

to follow. The research plan includes the following elements: Management problem, Research objectives,

Required information, and How the results will help with budgeting and management decisions. As we
can see the elements of the proposal of the research plan play a key role in the success of the forthcoming

release of a particular product. If at the first stage it is necessary to define the problem and research

objectives, then at this stage those objectives must be translated into specific information needs. Suppose

that the world's leading famous energy drink brand Red Bull wants to expand its products and launch Red

Bull Coca. Then researchers need to collect information during the planning process. Research such as

demographic, economic, and lifestyle characteristics of current Red Bull customers, Characteristics and

usage patterns of the majority of users of fortified water, and Retailer responses to the influx of water.

proposed new product and sales forecast of both new and existing Red Bull products. If one of those

pieces of information is formulated wrong, then the company's product is sure to be in the 95% of

products that fail every year. A good example of making mistakes when developing a research plan is

google. In June 2011, Google + is a social network was created by Google with the expectation that

Google+ can achieve the same number of users as Facebook or MySpace. However, this social network

never lived up to that expectation. Unclear sections of the site and unattractive features make Google+

unattractive to users. This application also did not improve much until it was closed in April 2019.

Google made mistakes right from the start by not developing a research plan, they didn't collect

information about the customer's wishes, and they didn't ask the question: Will the features and items in Is

my new website suitable for customers? That's why when Google+ launched, it received a lot of customer

complaints along with its failure.(6)

In summary, the above two stages are extremely important. Any company, big or small, when it comes to

products, needs to fully and accurately identify and understand these two stages. Only then can the

company's new products, when launched, be suitable and well-received by consumers. Every failure has a

price to pay. But if you know how to turn that failure into a success, that's admirable. A simple

adjustment can successfully succeed. We need to rethink ideas carefully because the gap between failure

and success is not far, changing the target audience can easily turn the concept of failure into something

more successful. Like Elbert Hubbard(10)- American writer, publisher, artist and philosopher. As he once
said, "A little more persistence, a little more effort, and what seemed like hopeless failure can turn into

brilliant success."

Reference:

1. Christensen, Clayton. "." inc.com. https://www.inc.com/marc-emmer/95-percent-of-new-

products-fail-here-are-6-steps-to-make-sure-yours-dont.html .

2. Blackburn, Inez. "." inc.com. https://www.inc.com/marc-emmer/95-percent-of-new-products-

fail-here-are-6-steps-to-make-sure-yours-dont.html .

3. Cola, C. (NaN, NaN không xác định). . Lấy từ https://genk.vn/bai-hoc-tu-that-bai-marketing-lon-

nhat-cua-coca-cola-dung-co-thay-doi-ban-than-chi-vi-cho- rang-moi-nguoi-se-thich-

20201225075322109.chn

4. Colgate, C. (NaN, NaN không xác định). . Lấy từ https://www.saga.vn/that-bai-cua-colgate-bai-

hoc-cho-cac-doanh-nghiep-muon-da-cheo-san~34524.

5. Google+, G. (NaN, NaN không xác định). . Lấy từ https://zingnews.vn/10-san-pham-that-bai-cua-

google-post1246960.html

6. Hubbard, E. (NaN, NaN không xác định). . Lấy từ

https://www.tudiendanhngon.vn/danhngon/dn/itemid/8631