By Henry Lin ' October 17th, Firstly, noticed that coke is available everywhere as compared to Pepsi.
Stephen, The graph above best describes the normal curve of a product life cycle. Coca Cola has too many brands to be evaluated in the most accurate manner, hence in this product life cycle, the top and most well-known brands shall be considered which can potentially as well generate a significant turnover for Coca Cola.
Here are few of the list: Coke lemon, Diet, caffeine freecherry, lime, vanilla etc. Pepper recently purchased off of Cadburys Schweppes 3.
Dasani various flavors of water 5. Sprite lemon and lime carbonated soft drink 6. Fanta Diet, Berry burst, fruit twist, apple splash.
Product Development This is the stage where there is the occurrence of the majority of the marketing planning. The product is being selected and developed by the marketing. The marketing also identify and select the target market as well as the ones responsible for the marketing mix and marketing plan.
Although it is considered to have a pre-launch so that there will be attempts to build a good awareness among customers most particularly if such product they released is a radical new innovation. It is expected at this point in time that Coca Cola may not be making profit at this point of time as a lot of investment is going on the promotion of the product, the costs of setting up and production.
The design of the product and planning of the product are proceeding on this stage as well as the market research.
Introduction Stage When the product is first launched and has been made known in the public starts the introduction stage of the product sales and revenues are probably low at this point in time, customers on the other hand have not had much contact with the product and can be slow to recognize the product as a superior to previous offerings.
Advertising cost is expected to increase It is expected to have high advertising cost such as companies are trying to increase their levels of awareness of the customers as well as the acceptance of the customer of the new product.
Announcing the product before it is being launched is one of the best strategy that can be used by the company to build up anticipation of the product although the risk of alerting competitors who can develop products that can compete.
As such, this strategy is intended often only done when a company has a unique offering, computer game, new film, computer game or technologically superior device such as the iPod or iPhone. Growth Stage Once customer awareness and acceptance of the product has grown, the growth stage has been commencing and hence there will be a phenomenon that an ever increasing customers being to buy the product and thus there will be a rapid growth of revenue.
The self-reinforcement cycle happens during this stage: It is the stage were growth could be experienced in a gradual manner in Coca Cola. At this stage, the product is still not making a lot of money gained from sales as being injected back into the promotion of the product.
At this stage the product is becoming well known and beginning to pay back some of the setup costs. Maturity Stage Customer demand is generally more stable when a market reaches maturity, and thus this stage is actually the stage where Coca Cola is expected to be most profitable as the company as generally established its position in the market and its share in the market and can work things out to exploit it.
There is less incentive for new entrants to enter the market as the rate of sales growth slows in this phase and therefore the incumbent can concentrate on the maximization of profits.
This will be helped by strong levels of brand awareness built in the growth phase, which mean that companies do not need to advertise as much.
However, competitive pressures may still be strong as existing incumbents battle for market share and continue to try to demonstrate the superiority of their product. As the market develops to competing products will become increasingly similar as companies understand better the demands of the customer and being to reproduce the most successful product.
This can result to the strong focus of Coca Cola towards the differentiation of products from competing offerrin as well as the encouragement of customers to switch to their offerrings. For Coca, there is now a fulfilled initial demand, of which it cannot just sit back and relax now because of competition is nw going in to come into the market to share a price of their pie.
There is now a reduction in the sales increases as well as an indication of a profit drop. Saturation and Decline Stage Sales levels eventually will begin to fall as the level of competition may be starting to increase as high as Coca Cola had started developing new products to attract out of the market the customers.
The product may become obsolete in one way or another, in addition, and the taste of the customer has a high chance of changing.Coca Cola Marketing Strategy essays The Coca-Cola Company is the world's leading manufacturer, marketer, and distributor of nonalcoholic beverage concentrates and syrups.
Its world headquarters is based in Atlanta, Georgia. The company and its subsidiaries employ nearly 31, people around. The Coca-Cola has adopted a more dynamic and well-structured marketing strategy for its products. The company has classified its market and developed planned initiatives for every distribution channel or customer segment.
Coca Cola owns and market four of the top five non-alcoholic sparkling beverage brands in the world such as Coca-Cola, Diet Coke, Fanta and Sprite. Coca Cola seeks growth opportunities and efficacies in line with its Vision strategy. Coca-Cola: Marketing Plan Words | 7 Pages. Coca-Cola: Marketing Plan Introduction [pic] The Coca-Cola Company was originally established in by Dr.
John Styth Pemberton, since then the company has developed into one of the largest companies in the world and accomplishing more than they could ever imagine such as becoming the worlds number one manufacturer of soft drinks, operating.
Marketing Plan for Coca Cola Essay example Words Oct 1st, 8 Pages Executive summary The principal activities of the Coca-Cola Company are the manufacture, distribution and marketing of nonalcoholic .
Marketing Strategy Analysis of Coca Cola Essay Sample. INTRODUCTION. This report serves as a comprehensive marketing audit of Coca-Cola.
This audit examines the internal and external operating environment, the varied strengths, weaknesses, and other market forces driving change at Coca-Cola.