March 19, 2015
Research Term Paper
Sprite soft drink has been around for many decades and it is one of the best selling drinks in the United States. It has done well in trying to target there market and there segment in order to continue to strive and bring in new customers. Sprite has been doing well as far as bringing in profit and revenue. It has decline in its sales but The Coca Cola Company is trying to reposition the product were it will be target by the type of consumer that the company want to attract. The are developing marketing plans in order to keep the product relevant and in lead of other competitors.
They are competing with numerous of competitors in order to keep ahead of the soft drink industry. The most competitive soft drink that is in the lead is 7Up which is causing tension between the brands among others. They are trying to regain their consumers as well as other countries by developing different types of campaign that will have certain celebrities that will help the product and the Coca Cola Company to strive to there full potential in the industry. Sprite has continued to strive for a bigger audience and not just stopping with one product under there brand. The have continuously put out different types of item to increase there product extension and to appeal to more people in a diverse way by producing extension on there product. History of Sprite
The Coca Cola Company was producing and selling many different types of fruit drinks that was under the name Sprite in the 1950’s. In 1961, The Coca Cola Company had started to produce the first bottle in the market that was name Sprite. Due to this transformation, Sprite as been the leading flavored soft drink in the lemon category. It is also the third highest selling carbonated soft drink after Pepsi and Coke. It is being distributed in a 188 countries through out the world. The name Sprite came from the name Sprite Boy which was created to symbolized and reinforce the image of Coke for Coca Cola. (Shortnotes of History)
In the year 1996, Sprite was declining in its sales, which made the Coca Cola Company change the slogan because they wanted to change the image of sparkling soda. They decided to change the slogan from “I Like the Sprite In you” to “Obey Your Thirst”. They were looking for a slogan that was fresh, hip, and will appeal to a younger audience. After the changes were made to the slogan, advertisement and sales has increase more than before. The sales increase by 9%, especially in younger adults which allow Sprite to regain there position. (Remzi Sprite) Sprite Target Market
The Coca Cola Company is currently working on enhancing Sprite with improved formula. At this present time, Sprite only has one flavor and that is lemon. The Coca Cola Company is going to make Sprite flavor more diverse with different taste such as orange, mango, and pineapple just to name a few. The Sprite soft drinks are currently declining in different countries as far as profit and revenue. In the first stage, Sprite will implement low prices to attract more consumers to buy and like there products. When that price strategy improves, they will increase the prices but still take in account the market condition that is currently happening at that time. (UKEssay)
Sprite will promote in various ways to help the product continue to grow. They will produce campaigns that will initiate during certain sport games such as cricket, football, and other games that will help sponsored the campaign, They will have different seminars and work shop that is issued by the government as well as college and university that will also sponsored the product. They will also have special promotions such as buy two and get one free and bulk discount as well. Sprite will be distributed to many retail stores such as supermarkets and shops that will allow consumer to view the product in person. Sprite will be...
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