Identify & Evaluate Marketing Opportunities
Assessment 1 Online Case Study
1) There are several marketing opportunities mentioned throughout the case study that Coca Cola have generated over the coure of their 125 year history. Please identify at least five examples and categories them according to the type of marketing opportunities (eg. New product development)
Coca-Cola contour bottle, an iconic package design recognized worldwide and one of the few packages granted trademark status by the U.S. Patent Office. The bottle had a modest beginning in 1894 when a store owner began bottling the popular new fountain soda called Coca-Cola in a cork capped Hutchinson glass bottle. It wasn’t until 1915 that a contour shaped bottle designed by The Root Glass Company was approved. According to popular belief, the cocoa pod inspired the rounded shape of the bottle. In fact, the first prototype’s middle was larger than the base, making it unstable on conveyor belts. It wasn’t until the bottle was put on a diet that the distinctive curvy shape we are familiar with today emerged.
* Expending world wide as well as into pop culture;
* Mythologies that keep the people talking may have come from employees themselves to keep the name going; * Loaning out the logo around 40$ million;
* Free Coke voucher campaign;
* Atlanta’s Coca-Cola museum;
2) Explain why is it important for an organization to seek out new marketing opportunities and provide an example of the benefits one of Coke’s marketing opportunities has provided the company?
* They firmly believe if you want to establish a clear image in the minds of consumers, you first need a clear image in your own mind. * Since the major competitor is Pepsi Co. so Coca-Cola has focused on neutralizing the competition. * The coca cola marketing team maintained their focus strongly on the product itself. When they changed bottle shape, many people started buying bottles instead of the drink itself. * They specified the criteria for each product offered because if you don’t specify the criteria for choosing consumers will develop their own, which is dangerous. 3) What do we learn from the article in terms of how Coca-Cola generates new marketing opportunities?
Recently they have realized that their marketing strategy that has worked well for them for decades needed to evolve and as such they are moving from Creative Excellence to Content Excellence Creative excellence has always been at the heart of Coca Cola’s advertising and they have decided that content is now the key to marketing in the 21st century on a social web.
* New product developments;
* To create value and differences;
* Market development;
* Product overness;
4) If Coca-Cola as a Head of Innovation employed you, what are three additional methods you would employ to generate new marketing opportunities?
5) Articulate and explain the seven key stages all ideas pass through before they get taken to market.
The process of creating, and evaluate the problems that the business is facing.
Companies use idea screening to make good decisions that are in line with the company’s objectives. For example if a company wants to introduce a new product in the market, the management collect new ideas they can use, so among those many ideas they have to look at each one of them closely, evaluate and scrutinizing them and eliminate those that are not effective, in order to remain with the most effective idea.
Concept development is a process driven by a set of customer needs and target product specifications, which are then converted into a set of conceptual designs and potential technological solutions. These solutions represent an approximate description of form, working principles, and product features. Often, industrial design models and experimental prototypes that help in making...
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