GENERAL KNOWLEDGE

Detailed explanation-1: -Before introducing the new coke, Coca cola finished a marketing research of new beverage taste test involving almost 200, 000 respondents in United States. And most of respondents preferred the new formula rather than original formula and Pepsi (Coca Cola, 2012).

Detailed explanation-2: -What is marketing information management? Marketing information management is the process of gathering and handling marketing data, like consumer data, competitive intelligence and marketing research. This data can help companies perform successfully in their market.

Detailed explanation-3: -Test marketing is a method that aims to explore consumer response to a product or marketing campaign by making it available on a limited basis to test markets before a wider release. It’s important to note that customers exposed to the product or campaign may be part of a test group without the customers’ knowledge.

Detailed explanation-4: -Test marketing is a strategy companies use to check the viability of their new product or a marketing campaign before it is launched in the market on a large scale. It is used across the business world to find out what consumers want and need in their everyday lives.