Coca-Cola is a carbonated soft drink, which sold in machines, restaurant and supermarkets. The company has many introduced brand such as diet coke, zero coke and coco cherry (Coca-Cola, 2014). According to the research, there are 136 brands of products in Coca-Cola Company. It sort into three different categories, carbonic drinks, juice and energy drinks and water (Coca-Cola, 2014). Market segmentation refers to divide the whole market into various submarkets, which have similar trait. It also defined as the organizations or individuals have similar features make the remarkable determination in business strategy (Fahy & Jobber, 2012). There are several benefits for make the market segmentation for Coca-Cola Company. It enhances the opportunities of growth and the profitability. The Coca-Cola company introduced a new product of fruit flavor to increase the consumer groups towards young generation and combined low calorie to meet the healthy population. The market segmentation also improved the customer’s retention and make communications more effective. The new product give customers more selection and the customer’s feedback can help the company get more communication with different groups of customer. All the beneficial of market segmentation is for better matching the correct group and satisfied their needs (Strydom, 2004). The new products is mainly towards the carbine soft drinks and making market segmental strategies can expand or change the market orientation, for example, Coca-Cola Company used to produce the cherry flavor soft dinks, however, the new product increase more fruit flavor and decrease the calories contents in it. Therefore, the market position and strategy has change towards young and healthy generation.
The Market needs involves what customers want rather than the competitors and what the product can benefited for themselves in the market place (Wellington, 2010). The new product of Coca-Cola creates...
References: Fahy, J., & Jobber, D. (2012). Foundations of marketing (4th ed.). Maidenhead: McGraw-Hill Education.
Strydom, J. (2004). Introduction to marketing. Cape Town, South Africa: Juta.
Wellington, P. (2010). Effective customer care. London: Kogan Page.
Pepsi report (2013). 2013 Annual report.
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