The Coca Cola Company requires ideas on the development of a new fizzy Coca Cola Drink. It must utilise the flavours and styles of existing Coca Cola Fizzy Drinks, but capture a currently untapped or unfulfilled market segment.
You need to consider the current market, find a suitable segment and develop a marketing strategy for your idea.
Market research -
Identify the most appropriate sources of primary and secondary data and consider which will provide you with the most effective information.
Collect secondary data on the market including demographics, trends, segments and competitors. Refer to the usefulness of marketing information databases for this process.
Use primary sources of information (such as a survey using a questionnaire) to help you come to a decision about your product. Explain why you chose to use a particular method.
Consider the validity of the information you have gathered. Summarise your findings clearly.
Marketing models -
Product Life Cycle
Using these models, assess The Coca Cola Companies current portfolio and consider a range of alternatives for the development of product lines and markets.
SWOT and PESTAnalysis -
Assess The Coca Cola Company through the use of a SWOT analysis and comment on the results of your findings.
Undertake a PEST analysis in order to gain an understanding of the external environment in which The Coca Cola Company is operating. Explain how these relate to the development of your strategy.
Marketing Mix -
Your findings should now enable you to develop a detailed marketing mix for your chosen product.
What is the product (including packaging)?
What is the pricing strategy and are there alternatives?
Where is the place it will be sold (including distribution)? What promotional mix will you use?
Briefly summarise your strategy and identify some of the potential problems that may occur if your idea was put into action.
Present one aspect of your marketing plan to an informed audience.
The Coca Cola Company has employed me to devise a new fizzy Coca Cola drink that will fulfil an untapped area of the drinks market. I plan to devise a questionnaire to ask members of the public which flavours they 'hope' that The Coca Cola Company will introduce in its famous 'Coca Cola' drinks range. I will then analyse the findings and produce several charts and graphs to show the flavour that the public want to see available on the market.
The Coca Cola Company is a limited company. It has the opportunity to become larger than the other forms of private business organisation. It is allowed to raise capital through the medium of the Stock Exchange, which quotes their share prices, and this creates a fullness of financial possibilities. The initials "PLC" (or plc) appear after the name of the public limited company. Only two people are needed to form a public limited company and there is no stated maximum of shareholders. In The Coca Cola Company's case it is owned by many shareowners, some of whom are members of staff.
The Coca Cola Company's business advantage is:
Â· Shareholders have limited liability, so it means that the shareowners lose what they put in the business and they receive annual dividends.
Â· It is easier to raise finance from banks, because The Coca Cola Company has many assets, which means banks are insured their money back or The Coca Cola Company's assets instead of the money.
Â· Since it has many assets, it is possible to operate on large scale, which means more production and promotion for the product. This leads to The Coca Cola Company's objective to grow the business and also to operate in a wide range of markets. This leads The Coca Cola Company to have a high income, which is a success to The Coca Cola Company's...