Secondary research involves the use of data that already exists in reference books, government reports and, increasingly from sources on the internet. It can be obtained from a variety of sources such as government statistics, trade journals, commercial research reports and the media
An advantage of secondary research is that it can be undertaken quickly, which means early decisions can be made. Secondary research is also very cheap form of market research. Another advantage of secondary is that it can pro vide information on the entire market including over seas customers. However, a disadvantage of secondary research is that the information may be outdated and of limited value. Also, the secondary data may not meet the precise needs of the business. Another, disadvantage of secondary research is that some business reports containing secondary data are expensive, for example ï¿½5000 per report.
‘Jupiter Sports’ is undertaking government statistics. So we could look at the ‘Annual Abstract of Statistics’ and ‘Social Trends’, these are the two main publications from the government and its agencies, such as the Department of Trade and industry’, who produce vast amounts of detailed information. We can also undertake information from the ‘Trade journals’. Trade journals contain detail information on the developments of the specific industries they cover. For example, magazines such as Construction News and The Grocer regularly feature information on the firms in the respective industries that they report on as well as the consumers’ behaviour in those industries.
Lucozade Energy is an energy drink containing glucose syrup and caffeine. First manufactured in England in 1927 as Glucozade, the name changed to Lucozade in 1929. It was initially marketed as an aid to convalescence. For many children Lucozade was seen as a special treat to offset the discomfort and distress of illness. For others it was less welcome than the illness. It was sold in glass bottles with a yellow cellophane wrapper. The brand is still marketed this way in Africa, claiming to aid recovery from numerous conditions as diverse as measles and colds. It tastes slightly different to the British version.
In the 1980s Lucozade was re-branded as an energy drink, and the original packaging was changed to polyethylene terephthalate (PET) bottling. The phrase Lucozade aids recovery was abandoned due to the public’s perceived association of the word aids with AIDS, and was replaced by Lucozade replaces lost energy. The company made a notable UK advert featuring the decathlete Daley Thompson with a soundtrack of the Iron Maiden song, Phantom of the Opera.
My competitors in my market are millionaire companies like ‘Coca Cola’ but I am directly in competition with ‘Lucozade Sports’ because they are energy drink company like ours. These companies are very large in the market they are almost monopoly like, so we have to survive first in the market and then develop as we go. ‘Lucozade Sports’ for example are very large company so they can advertise on television and sponsor famous people and teams but we are just a small business so we can only advertise on leaflets or posters.
‘Lucozade Sports’ produces variety of energy drinks. Their drinks contain high in energy and very rich in vitamins & nutrients. Lucozade Sport is an isotonic sports drink, designed to improve sporting performance. It delivers a boost of carbohydrate energy to the working muscles and supplies fluid fast. Together these help to maximise sporting performance and endurance.
‘Lucozade Sports’ normally costs around 79p or 89p, but it depends on where it is sold and how much ml there is. ‘Lucozade Sports’ uses various excellent strategic methods to promote their product. They mainly use advertisements to promote their product. They use advertisements on televisions mainly on sports channels; they sponsor famous players and teams. This increases their brands’ awareness among the public, so their sales increase. Another main factor they succeed in this market is that they develop new products on regular basis. The promote various flavours of ‘Lucozade Sports’, they do vitamin tablets of ‘Lucozade Sports’, even ‘Lucozade Sports’ bars. These types of development would surely increase the awareness and increase sales. It is our desire to compete against big firms like them in the future. ‘Lucozade Sports’ place their products all over the shops in various places as they produce energy drinks, sweets, bars, etc. ‘Lucozade Sports’ place their products in mainly newsagents as they believe it will attract general public to buy the products. ‘Lucozade Sports’ is generally distributed from producers to wholesalers to retailers and then to customers.
Lucozade Sport is a major sponsor of events, teams, and athletes in the UK including the England Rugby Football Union, The Irish Soccer Team, The London Marathon, Michael Owen, James Cracknell, and Jonny Wilkinson. As Lucozade is a large organisation it can afford to sponsor big events and stars and also by doing this they can increase customer awareness so their sales and revenue will increase in the future.
The website below shows the statistic I obtained about my local council.
The government statistics are relevant to our product because it gives us information about how to target our product. For example from the 2001 census, I was able to indicate that there were 46638 teenagers in Greenwich. This data will help me because I now know that there are many people who are teenagers and teenagers are my target group. I also found out that there are 5174 students in Greenwich, students are also part of target market as they fall in the category of teenagers, so I have to target specifically at them. The trend in activities each individual does and the hobbies each individual has affects my business immensely because I have segmented the market according to the lifestyle of people. So if the people take part in sporting activity ‘Jupiter Sports’ will be very useful to them as it is an energy drink.