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detailed market analysis

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Introduction

Ao3 As part of this assignment I will identify the objectives of the business based upon a detailed market analysis and I have chosen to analyse Coca Cola. SWOT and PEST analysis SWOT analysis Strengths The strengths for my product Coca Cola is that it is virtually the best brand in the world, therefore it has least worries form competition, and the product will be advertised All over the world. The other strength is that teenagers will consume the drink, and would expect the drink to keep them going. This drink would be cheaper and easier to access as it would be replacement for tea and coffee. Weaknesses The weaknesses for coca cola zero product could be that it may need to establish it as a new product by its brand name in order to make it well known. The other weaknesses could be by adding less sugar on the product as there is concern about too much sugar in soft drinks. Opportunities The opportunity for launching Coca cola products is that it may be introduced under their own brand name. The coca cola company may decide to release a new product such as coke zero in a new market, such as the health club and in leisure centres as it may have less sugar in the drink. Threats The threats for the product could be that it may be high in fat, as people are more aware of their weight, this may lead to a loss in sales of the product therefore I will be adding carbohydrate on the drink. ...read more.

Middle

Protection pressure groups may be set up to fight a specific issue, such as the closure of a plant or the increased traffic on a road as a result local business. Promotion pressure groups are usually more formal and would be set up to fight highly organised campaigns across a range of issues. Technological In making goods and services, organisations must become of new materials as well as developments in manufacturing and business purposes. At the same time, organisations to look at the nature of products and, in particular, they're cost effectiveness, as well as their performance in relation to the competition. The Boston Matrix The Boston matrix is a useful tool to understand product/services portfolio in multi product firms, the Boston matrix classifies products on the: o Expected growth rate, measured by expected growth in sales revenue o Market share relative to rival products The most appropriate marketing strategies based on the Boston matrix are those, which aim to keep a balanced portfolio of goods or services ensuring that there is enough cash - generating products to match the cash-using ones. All of the sections in the Boston Matrix represent where a business's products are in the market and how they are doing. Most of Coca-Cola products would be in the star section because they are in a high growth market with a high share of that market and they generate a high amount of income. ...read more.

Conclusion

The Ansoff matrix recognises that in order to grow a business has to consider both its markets and products. The combination of existing and new products and markets provides different marketing opportunities. Market Penetration The Coca-Cola Company lies in this position at the market penetration because they concentrate their activities on those areas where they have established a competitive advantage and focus their attention on maintaining their market share. Product Development New product development can be risky and expensive and it requires insight to make a decision about whether to go ahead with it or not. Coca-Cola must try and identify where there is a place in the market and try and fill it. Product life cycle 1. Introduction: Product introduced, promoted and advertised. Sales slowly pick up. 2. Growth: Products well accepted in the market. Sales and profits rise rapidly. 3. Maturity: Potential sales have been achieved and there is a slow down in any further growth. Profits begin to decline due to increase costs to fight 4. Decline: Increasing competition on results in falling sales, this leads to crop in profits. Product will eventually be withdrawn from the market. The product I have chosen is Coca-Cola, therefore To prolong the lifecycle, a brand or a product, an organisation needs to readjust the ingredients of the marketing mix, (this is what I plan to do). Periodic injections of new ideas are needed for product improvements, line extensions or improved promotions. Coca cola will also promote heavily by advertising everywhere, including televisions, magazines, billboards, and etc. ?? ?? ?? ?? ...read more.

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