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The Coca Cola company - You need to consider the current market, find a suitable segment and develop a marketing strategy for your idea.

Extracts from this document...

Introduction

AVCE Business Coursework Andrew Mercer Unit 3 - Marketing The Coca Cola Company requires ideas on the development of a new fizzy Coca Cola Drink. It must utilise the flavours and styles of existing Coca Cola Fizzy Drinks, but capture a currently untapped or unfulfilled market segment. You need to consider the current market, find a suitable segment and develop a marketing strategy for your idea. Market research - Identify the most appropriate sources of primary and secondary data and consider which will provide you with the most effective information. Collect secondary data on the market including demographics, trends, segments and competitors. Refer to the usefulness of marketing information databases for this process. Use primary sources of information (such as a survey using a questionnaire) to help you come to a decision about your product. Explain why you chose to use a particular method. Consider the validity of the information you have gathered. Summarise your findings clearly. Marketing models - Product Life Cycle Boston Matrix Ansoff's Matrix Using these models, assess The Coca Cola Companies current portfolio and consider a range of alternatives for the development of product lines and markets. SWOT and PEST Analysis - Assess The Coca Cola Company through the use of a SWOT analysis and comment on the results of your findings. Undertake a PEST analysis in order to gain an understanding of the external environment in which The Coca Cola Company is operating. Explain how these relate to the development of your strategy. Marketing Mix - Your findings should now enable you to develop a detailed marketing mix for your chosen product. What is the product (including packaging)? What is the pricing strategy and are there alternatives? Where is the place it will be sold (including distribution)? What promotional mix will you use? Evaluation - Briefly summarise your strategy and identify some of the potential problems that may occur if your idea was put into action. ...read more.

Middle

Yes 27 No 0 I am not bothered - 3 What flavour, out of the following would you like to see on the market in the near future? Strawberry 6 Summer Berry 11 Lemon and Lime 4 Tropical 9 Graphs and Charts Showing some of The PRIMARY DATA which I have collected- I have realised that- 1. 2 out of the 30 people I asked are not happy with the price of Coca Cola products. 2. that the majority of people I asked, wanted to see the 'Summer Berry Coca Cola Flavoured Drink' available in the near future. 3. that 27 out of the 30 people wanted a new Coca Cola drink out on the market. 4. the majority of people asked, drank 6 cans (330ml) of Coca Cola a week. 5. all the people asked in this questionnaire are familiar with Coca Cola. Although, this is a very small scaled market research, I am confident that I have enough information to complete this given assignment. SECONDARY RESEARCH- my results are as follows; Do you get many people buying any of the Coca Cola drinks? - the answer I received was - 'Yes, many people buy Coca Cola from our shelves, in my opinion the new Vanilla Flavoured Coke is selling like hot-cakes'. Do you think Coca Cola Is still the number one drink in this area, judging by your sales? - the answer I received was -'in the fizzy drinks market, probably yes, but the number one drink, with regard to sales has got to be, natural spring water'. With these answers, I have a few personal opinions: 1. If The Coca Cola Company where to bring out a new flavour of drink at the current time, in my opinion, this is un-wise as the new Vanilla Flavour Coca Cola is Still cashing In for being new and its full potential has not yet been extinguished from the market. ...read more.

Conclusion

This may provide technical information. * CORPORATE - where a company promotes its name and image rather than an individual product. This overall benefits the company's sales. * GENERIC - when a group of manufacturers promotes a whole industry or type of product. * COMPETITIVE - where companies subtly imply that the rival firms' products are inferior to their own. For my Advertising campaign I have decided to: 1. Advertise a full-page spread in - * Cosmopolitan - Price - �13,560 Average sales - 461,080 I have decided to advertise in this magazine because it is mostly read by 17-23 year old girls/boys; this is our prime target for the audience of this product. * Just Seventeen - Price - �7,930 Average sales - 130,080 I have decided to advertise in this magazine because it is mostly read by 15-20 year old girls; this is our prime target for the audience of this product. * News of the World - Price - �38,300 Average sales - 4,365,032 I have decided to advertise in this newspaper because it is read by varied audiences. 2. Produce a Television Advertisement - * Carlton/ LWT - London - Price - �74,000 Average viewings - 4,565,000 I have decided to advertise here because it is widely viewed by great members of the public giving a wider variety of audience. This is the poster I am going to have on posters and billboards. I have drawn this because I thought it looked 'Cool!!'. I also thought that I have made a good and catchy slogan up. Evaluation of my advertising strategy: In terms of publicity I think I achieved the full potential of what I could have achieved. I am pretty optimistic that this strategy will be successful. I am going to start this product on a price promotion/ introductory price to get people 'hooked' on this product, then raise the price to the standard price. I am optimistic also, in terms of my product being a STAR (Boston Matrix) and later becoming a CASH COW (Boston Matrix). ...read more.

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