INTERACTIVE VIDEO

Get ready to explore the world of business with this interactive video. Once launched, you'll dive into interactive activities, master case study analysis, and challenge your knowledge with a multiple-choice quiz
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OVERVIEW

Are you interested in learning about the importance of market research for businesses? In this interactive video, we'll explore why market research is essential and the risks of not doing it. We'll take a look at what market research is and the various tasks involved in completing the process.

Using Enigma Electrical LTD as an example, we'll look at the consequences of failing to conduct market research. Enigma Electrical LTD focused on manufacturing and distributing reasonably priced 3D Televisions across the UK, but without market research, they were unable to spot the decline in the 3D TV market. As a result, they had to pivot their focus to other products.

Throughout the video, we'll explore how market research helps businesses easily spot opportunities, lower risks, create relevant promotional materials, know where to advertise, compete with rivals, and improve their aims and objectives. By the end of the video, you'll have a clear understanding of why market research is crucial for businesses to succeed and the consequences of not doing it. Get ready to dive into the world of market research and learn how it can benefit your business!
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  • DETAILED EXPLAINER VIDEO
  • 10 QUESTION MULTIPLE-CHOICE QUIZ
  • 6 INTERACTIVE ACTIVITIES
  • INTERACTIVE CASE STUDY
  • SUPPORTING STUDENT WORKSHEETS

CASE STUDY ANALYSIS
COCA COLA

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  • The interactive case study explores how Coca-Cola's decision to change its formula in the 1980s and introduce New Coke as a response to Pepsi's market share growth became the most costly marketing mistake ever. The company conducted market research to develop a new formula that would taste sweeter than both old Coke and Pepsi. However, they failed to account for the emotional connection and brand loyalty people had towards the original Coke, resulting in massive customer backlash and financial loss.

Teacher Resources

Below you can find a range of teaching resources, from printable PDFs to Google Forms, along with an uninterrupted video to play to the entire class.
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