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The purpose of this assignment is to provide a marketing strategy for a new sports drink that will be produced by the Coca-Cola Company.

Extracts from this document...

Introduction

Introduction The purpose of this assignment is to provide a marketing strategy for a new sports drink that will be produced by the Coca-Cola Company., and also to achieve the aims and objectives of Coca-Cola. Brief of The Coca-Cola Company The Coca-Cola Company is the world's largest beverage company, largest manufacturer, distributor and marketer of non-alcoholic beverage concentrates and syrups in the world. The company is best known for its product Coca-Cola, invented by pharmacist John Pemberton in 1886. Coca-Cola currently offers nearly 400 brands in over 200 countries or territories and serves 1.5 billion servings each day. The Coca-Cola Company is headquartered in Atlanta, Georgia. Its current president and CEO is Muhtar Kent. Coca-Cola offers nearly 400 brands in over 200 countries, besides its namesake Coca-Cola beverage. This includes other varieties of Coca-Cola such as: * Diet Coke (introduced in 1982), which uses aspartame, a synthetic phenylalanine-based artificial sweetener in place of sugar * Diet Coke Caffeine-Free * Cherry Coke (1985) * Diet Cherry Coke (1986) * Coke with Lemon (2001) * Diet Coke with Lemon (2001) * Vanilla Coke (2002) * Diet Vanilla Coke (2002) * Coca-Cola C2 (2004) * Coke with Lime (2004) * Aquarius Mineral Water (2004) * Diet Coke with Lime (2004) * Diet Coke Sweetened with Splenda (2005) * Coca-Cola Zero (2005) * Coca-Cola Black Cherry Vanilla (2006) * Diet Coca-Cola Black Cherry Vanilla (2006) * Coca-Cola BlaK (2006) * Diet Coke Plus (2007) * Coca-Cola Orange (2007) * Coke Chocolate (to be released in 2010) Coca-Cola is the best-selling soft drink in most countries. While the Middle East is one of the only regions in the world where Coca-Cola is not the number one soda drink, Coca-Cola nonetheless holds almost 25% market share (to Pepsi's 75%) and had double-digit growth in 2003. Similarly, in Scotland, where the locally produced Irn-Bru was once more popular, 2005 figures show that both Coca-Cola and Diet Coke now outsell Irn-Bru. ...read more.

Middle

Convenience Sampling - is used in exploratory research where the researcher is interested in getting an inexpensive approximation of the truth. As the name implies, the sample is selected because they are convenient. This can be a good method to use as it saves an awful lot of time as it doesn't incur the cost or time required to select a random sample. Quote Sampling - This is the non-probability equivalent of stratified sampling. Like stratified sampling, the researcher first identifies the characteristics and their proportions as they are represented in the population. Then convenience or judgment sampling is used to select the required number of subjects from each category. This differs from stratified sampling, where the stratums are filled by random sampling. I think this would be the perfect method for me to use as I need to select samples from a specific category of people. This will ensure that I get the data that I need and that it is accurate. Snowball sampling - is a special non-probability method used when the desired sample characteristic is rare. It may be extremely difficult or cost prohibitive to locate respondents in these situations. Snowball sampling relies on referrals from initial subjects to generate additional subjects. While this technique can dramatically lower search costs, it comes at the expense of introducing bias because the technique itself reduces the likelihood that the sample will represent a good cross section from the population. As this will take a lot of time to complete and probably cost quite a lot, I'm not going to be using this method. For my questionnaire, I will use the non-probability sampling method, quote sampling. I will categorize the people who will complete the questionnaire by whether they looked active or athletic. I chose not to use probability sampling because the information I will get from those that will be asked might not be relevant and could also be inaccurate. ...read more.

Conclusion

This name will be an effective one as it is catchy. This will help the product to stay on consumers' minds and make them consider buying the drink. I have also outlined what I need to do when the product reaches its stages in the product life cycle. I have found out what the most popular and successful method of advertising is, and what costs I will need to advertise. In the advertising campaign for coca-cola, celebrities will be used. Doing so has helped me to create an effective advertising campaign. This will help Coca-Cola by increasing their popularity, and reaching out to a wider audience. As coca cola is a popular brand that is recognised globally, their website will be a useful place to advertise coca-cola lightening. This way, coca-cola gets a very large, worldwide range of consumers to advertise to. I have recognized where coca-cola should be sold, which is in both supermarkets, and local shops, but mainly supermarkets. This is because local shops will be looking to make a profit, thus increasing their prices and discouraging consumers from buying there, so it will be best to majorly sell in supermarkets. Coca cola will benefit from selling in supermarkets as most supermarkets are nationwide and some even international. I have determined what price the drink should be sold for, and this is about the average price of most other popular competitors' sports drinks. The pricing strategy used for this camping is the competitive one. Weaknesses Although, there is all the strength, my campaign also has some weaknesses such as Because I chose a competitive pricing strategy, there's not too much of a chance of selling at higher price than competitors. Though, this could also mean that regular consumers can choose coca-colas product over competitions. I have found out that the competitions in supermarkets are massive as there are many sports drink just like coca-colas. Coca-cola can deal with this by making it stand out in a unique way. Sources Website www.wikipaedia.com www.coca-cola.com www.thecoca-colacompany.com www.bikeforums.net www.freepatentsonline.net www.talkingretail.com www.timesonline.co.uk www.answerbag.co.uk www.marketingmagazine.co.uk www.lighteningonline.com Textbook AS AQA Business Studies Textbook ?? ?? ?? ?? 1 ...read more.

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