Milestone 1 Made Up Product

I HAVE ATTACHED MY PREVIOUS
PAPER, I GOT AN F. I WILL LEAVE MY COMMENT FROM MY PROFESSOR RIGHT HERE
“Hello Jaclyn-for this course you are adding a new product or service to
the companyâ??s current portfolio. Your paper seems to analyze current
strategies they are employing. I encourage you to resubmit with an
additional service or product to offer.” I NEED A NEW PRODUCT THAT
COCA-COLA CAN OFFER (I.E. NEW SOFT DRINKS OR SOMETHING ALONG THAT
NATURE) This needs to be a made up product!!! Not something that Coca-Cola already sellsMy Company that I chose is on Coca-Cola
This milestone establishes your chosen organizationâ??s direction within
the market place. This is important because it drives the subsequent
activities, milestones and the final project. Without a strong sense of
the organizationâ??s purpose within the market place, knowledge of
consumer trends, and how to meet target market needs at the appropriate
price, management is less likely to maximize the efficiency of business
activities and more likely to miss fully meeting the needs of its chosen
target market. This milestone establishes how the organization will
differentiate itself from its competition through branding with a unique
product or service offering designed to meet specific consumer needs or
desires that are shaped by their demographics, personality, or buying
style. Specifically, the following critical elements must be addressed SectionTwo: Branding and Idea Context
1.)Corporate mission and how the new product or service aligns with it
2.)Defining features of the product/service 3.)How the product will be
marketed internally and externally 4.)How the company is differentiating
from competition Alignment of pricing with market position and
corporate mission 5.)Your substantiated opinion of brand effectiveness Section Three: Defining Product or Service Need For your idea,
1.)Behavioral and/or lifestyle demographics of the targeted consumer or
buying style of organizational buyer and why they are a good choice
2.)What unsatisfied need the product/service fulfills 3.)How the
customer/buyer seeks information to fill the need 4.)How the product is
purchased(characterize the buying situation) 5.)Why your chosen target
market is the best choice Section Six: Pricing 1.)
Explain the fixed and variable costs and how these fit with the
companyâ??s short and long-term goals. 2.) Use a narrative with a table to
show calculations for cost categories. 3.) Provide reasonable estimates
for each of the categories. 4.)Specific or in-depth financial analysis
is not necessary. 5.)Examine competitorsâ?? pricing and explain reasoning
for differences 6.)Estimate how much you think the target market is
willing to pay for your product/service. 7) Is this due to preferences
for social responsibility, ethical behavior or other intangibles 8.)What
pricing strategy (skimming, penetration, economy or premium) is most
appropriate and why?Guidelines for SubmissionMilestone
One should utilize double spacing, 12-point Times New Roman font,
one-inch margins, and discipline appropriate citations It should be 8-10
pages in length and follow all APA formatting requirements
cocacola_introduction__milestone_1_.docx

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Coca-Cola
Jaclyn Hurley
Southern New Hampshire University
May 20, 2018
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Abstract
Coca-Cola is a multibillion-dollar corporation which is dedicated to Refreshing
thousands of worldwide consumers. Coca-Cola operates in many countries, where it produces
several soft drinks brands. The company operates by targeting every consumer in each country
where it is present, this is by having several brands depending on the consumer preferences.
According to the Coca-Cola Company, Its success can be attributed to having set a five strategic
actions that propelled it to the current status, this action includes focusing on the growth and
sustainability, investing more in its business and especially the company brands, investing in
efficiency and performance focusing on the Coca-Cola core business models among other. With
the above strategies and the company vision and mission, eventually, it was able to be driven
where it is today.
Branding and Idea context
Coca-Cola company mission is well drafted to ensure that every product that company
produces is well aligned with it. The company mission statement states the companyâ??s purpose
and its standards under which it operates that is to create value that makes differences, to refresh
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the consumer world and finally through refreshing it enables the consumer to be able to be
inspired and eventually being happy. The company follows its strategic actions in order to make
sure that the products and the services it offers to its consumer are guided by its mission, (Arthur,
2016). This is by making sure they deliver high quality product brands that meet every
customerâ??s need and also following some innovative strategies such as making use of its bottles
so to avoid wastage and environmental degradation, adding values to the products and also the
people life where it operates, ensuring that product and service design is at the peopleâ??s heart
among other ways that the company ensure that its product aligns with its mission and vision.
Coca-Cola marketing strategies
Coca-Cola employs a number of strategies in order to ensure that its market share
has increased and also to increase its product coverage in different countries and states. Being the
world leading soft drink maker, the company already has the prevalence, but in order to produce
the required revenue needed to maintain the company then it has employed a number of
marketing strategies such as marketing segmentation, where the company is able to refine its
product in order to meet specific customer needs, and this is by developing new product that
meets the new market identified. This achieved by employing several positioning strategies and
also by using the available marketing strategies such as SWOT analysis among others, (Bhasin,
2017). Other than those marketing strategies outlined above the company uses 30 percent of its
revenue in its marketing as a way of increasing its coverage in both local and also in other
countries. Over time the combination of the strategies has propelled the company to where it is
currently.
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Differentiating from competitors
The company has been able to employ a number of strategies in order to maintain an
edge to its competitors. Known as having a competitive edge over its competitor in terms of
corporate cost of operations, marketing of its product, how it relates to its customers, branding
and many other aspects. In term of the company operations, the company has been able to
employ a number of strategies such as franchising and product production outsourcing. Through
these, it has been able to perform most of its operation in an efficient way and thus defeating its
competitors. On the other hand, the Coca-Cola Company has been able to keep its product cost in
control, this is another area that has kept it afloat and leading other company in the same
industry. Through its diversified products, outsourced companyâ??s operations among other
company strategies it has been able to increase its profit by cutting the operation cost and
expenses and also by controlling its cost of the product and services, (Bhasin, 2017). Other than
the company outsourcing and cost control strategies that the company has been employing in
order to maintain a lead in the soft drink industry, the company has also been using strong brand
portfolio strategy in order to win over its competitors. This is where the company has been
offering a large and powerful set of product portfolio to its consumer, all these have been
supported by the ability and the willingness of the company to seamlessly explore new product
range to offer to its consumer. The company product portfolio ranges from carbonated drinks,
soft drinks among other. All this has enabled the company to maintain a lead and also help in
differencing it from its competitors. Finally, the companyâ??s good relationship with its customers
has also played an important role. The Coca-Cola ensures that it develops a set of activities and
customer promotions so that each of its customers can be able to participate in its marketing.
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Pricing and mission
Coca-Cola Company always aligns its product and service price in relation to the
companyâ??s mission and also in relation to its current market position so to maintain a sustainable
growth, this via development of effective pricing strategies as follows. Through geographical
pricing where the company dictates its product pricing depending on the geographical location,
for instance, the distance customers would have to pay more due to the inclusion of the shipping
cost and the importation taxes in some countries. Similarly, in some cases, the come might opt in
giving out discounts and offers so to make sure that its consumers are happy and always
refreshed and thus reduction of prices. Other strategies that the company uses in order to ensure
its product and services pricing aligns with the companyâ??s mission and positioning includes
product-mix pricing where the price is set depending varies reasons for maximum profit, pricing
depending on different customer needs among others. (Bhasin, 2017)
Brand effectiveness
Coca-Cola employs one of the best and the most effective branding and which play an
important role in its marketing, by putting it on spot. The company branding has remained
consistent for many years and thus guaranteeing its customers quality product and services.
Some of the reasons that make this marketing strategy (branding) an effective is through
consistent, this is what is referred to as a lasting imprint that makes the customer know their
product and service in advance. By avoiding big changes that will distract the customer, it is
known that big changes can sometimes be a disaster in any company branding, with that it is
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important to avoid some big change and if change must be there then it has to be consistent and
in line with the company mission and marketing positioning. By always ensuring that the
company brand is always on top of everything including the companyâ??s product. Finally, CocaCola has always remained relevant, remaining relevant is one of the major branding strategies
that the company has employed over the time it has been in operation and one has enabled its
branding to be effective. (AFP, 2017)
Defining product or services need
Lifestyle demographics
Almost half of the American who are aged 18 to 34 say that they regularly drink soda, this
shows how popular the Coca-Cola product is. Out of those they have an average daily intake of
Soda of 2.6 glasses. Also noted is that most soda consumers are nonwhites. According to (Gaille,
2015), the key Coca-Cola markets is in Brazil, Japan, Mexico, and China among other parts of
the world. Also, the author of the article notes that the Coke product sale in the USA alone would
exceed USD 70 billion at the end of the year 2018. That 73 percent of American has at least one
positive element of consuming a coke product. That the Coca-Cola Company ensures that it
covers almost every consumer group by having a product in each of the consumer category.
Finally, 3 percent of the world-wide consumed beverages all are from Caca â??Cola (Gaille, 2015)
Unsatisfied needs
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Coca-Cola business idea is based on fulfilling the people needs and ensuring that each of
the people has a need which it satisfies. With that, some of the unsatisfied need that the CocaCola product and services fulfill includes needs for a wide variety of consumer beverages. In this
case, there was a need for having a beverage and soft drinks that catered for everyone,
(Macarthur, 2006). Refreshing the consumers in a remote location where other soft drinks and
such products have not reached. The presence of the Coca-Cola Company in almost every part of
the world has contributed to its popularity and also increased market share.
Seeking information
The consumer decision process is a complex process and which every company struggles to
get it right, with that there are several known ways in which the consumers or the customer seek
information in regards a product, this can be through need or problem, here a consumer can
realize that he /she is missing some product and thus goes ahead to seek that product or related
information. The consumer can also about a product via information search. Through
information search, a customer can embark on searching an information about Coca-Cola
product and once he knows about it he/she can result in buying it. Other than the above factors or
ways in which a consumer can seek information about a product there are many other ways and
all which has together driven the success of the Coca-Cola products
7
Buying the product
A customer might decide to buy a product since he or she has proffered the Coca-Cola
product as all the other available alternatives did not fit his/her needs. Once the customer buys
the product the feedback is very important. Coca-Cola has been able to maintain a set of a
positive Customer relationship which has enabled the company to have a sustainable profit.
Marketing target
Having a marketing target for any company or corporation and in this case, Coca-Cola is
important since it enables the company to have a better pricing policy, a wise marketing
strategies, it also enables the company to have a better consumer feedback, reducing the
expenses and loss among other benefits. (Brookins, 2016)
Fixed and variable cost
Coca-Cola Company has developed various strategies to ensure that it remains relevant. This is
by ensuring that this two factors of the product are well catered for instances by ensuring that it
acquires more fixed assets and cost so to increase the production and or outsourcing some of the
products. On the variable cost, the company has to in case this variable asset so to cater the
increased demand and need for more profit. For example
Fixed Cost
Storage facility
$1m
8
Transportation Vehicles
$1m
Crane
$1m
Variable cost
Electricity bill
Variable
Gas cost
variable
labor
Variable
Pricing strategies
Pricing strategies enable a company to place the optimal product cost that will not affect the
consumerâ??s budget and one which is reasonable. The best pricing strategies depend on the
company level of success for this case the best strategy for Coca-Cola would be the Price
Skimming where the price is set higher at first before later dropping so to tap the profit.
(Prestholdt, 2017).The Coca-Cola competitors compete by lowering the product price but since
the quality canâ??t much then, Coca-Cola has the day. The target market is will to pay high if the
price is reasonable and justified.
9
10
References
AFP. (2017, 6 27). Retrieved from https://www.insightsforprofessionals.com/blog/coca-colas-4most-powerful-lessons-in-branding
Arthur, R. (2016, 2 11). Retrieved from
https://www.beveragedaily.com/Article/2016/02/11/Coca-Cola-FY2015-refranchisingnew-product-development
Bhasin, H. (2017, 12 15). Retrieved from https://www.marketing91.com/marketing-strategy-ofcoca-cola/
Brookins, M. (2016). Retrieved from http://smallbusiness.chron.com/reasons-having-targetmarket-strategy-3251.html
Gaille, B. (2015, 3 13). Retrieved from https://brandongaille.com/39-interesting-coca-colademographics/
Macarthur, K. (2006, 11 27). Retrieved from http://adage.com/article/print-edition/pepsi-cokesatisfy-states/113464/
Prestholdt, R. (2017, 6 14). Retrieved from https://fa-cpa.com/pricing-strategy-for-new-products4-methods/
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