The following marketing plan forms the basis for the introduction of an innovative new product by the Coca-Cola Company. The analysis allows us to outline the best strategies to follow for the achievement of the company’s strategic goals. “Bubble buzz” will be marketed as a unique functional drink while striving to reinforce the company’s status as the leader in innovation and successful product launches. The marketing strategies will enable to reach a market size of an estimated 10 milion people (targeted) with a forecasted sales growth prospect of 10% over the next 5 years (tk100 crore profits), while satisfying the needs of the still-unserved market for ready-to-drink bubble tea. Success will be reflected by a sizeable capture of market shares within this market, while strategically carrying the company up to the top spot as the market leader in the functional drinks segment of soft drinks. Y-buzz of coca cola will be served in Bangladesh . COMPANY OVERVIEW
(BriEF DESCRIPTION OF THE COMPANY)
Brief description of the company
The Coca-Cola Company’s core undertaking is to benefit and refresh everyone it reaches. Founded in 1886, we are the world’s leading manufacturer, marketer, and distributor of non-alcoholic beverage concentrates and syrups, which are used to produce nearly 400 beverage brands that make up for our wide portfolio. Our corporate headquarters are established in Atlanta, and we are holding local operations in over 200 countries around the world. Our activities cover all sectors of the beverage industry. We are the second leading player in functional and Asian specialty drinks, while ranking number one in value for the ready-to-drink tea sector . Brief description of the new product, & strategic role in the future position of the company “Bubble tea” will be a bottled beverage and will be positioned as the only ready-to-drink Bubble Tea product available on the market. The beverage will have a green tea base with enhanced fruit flavors i.e. passion fruit, strawberry and lime. It will bring an entirely unique drinking experience to its consumers. It will present itself as a funky and unusual alternative to traditional tea while providing the great taste of authentic fruit juice in an attractive and convenient packaging. The strategic role of y-Buzz for The Coca-Cola Company is centered around three objectives: ❖ To become the market leader in the functional drinks segment with increased market shares. ❖ To stay at the forefront as the market leader in innovative product introductions and successful product launches; ❖ To strengthen and satisfy the needs of the more adventurous young generation (14-29 age group) consumers with a new eye-catching and Functional product;
Consumption: The sales volume for the functional drinks segment in bangladesh has reached tk 920 crore in 2009 for a volume of 92 million liters .This product segment has shown a steady growth since 2000: an increase of 15% over a period of 9 years . The growth of this particular market is largely due to a slow shift in consumer trends. Trends: Through the early 1960s, soft drinks were synonymous with “colas” in the mind of consumers. In the 1980s and 1990s, however, other beverages (from bottled water to tea) became more popular. Today, while the soft drink industry’s value has increased in 2009, the volume sales of carbonated soft drinks has declined due to a large proportion of consumers who are moving for the trend towards healthier alternatives in the functional drink segment such as energy drinks, milk & juice drinks, sports drinks as well as bottled juices and water. New flavor introductions and health-conscious formulations have been launched in an attempt to counter the decline in carbonated soft drink sales. The functional market is expected to show a steady growth and consumer interest in the future years as consumers are now demanding more healthier products. Profitability &...