Value of Marketing Research
The president of Ocean Beverage believes that, due to the success of the organization's current product line, marketing research is not needed as the company decides to move into the health and energy beverage market. Therefore, his preference is to gear up quickly and prepare for a marketwide launch of the company's new energy beverage.
As vice president of marketing, you feel that you must convince the president of the need for a marketing research project. Write a 2-paragraph memo emphasizing the value of marketing research and providing an explanation of how marketing research data will improve the marketing mix and thus the effectiveness and efficiency of the new product launch. Post your memo in the discussion forum and solicit feedback from your classmates.