Coca Cola Case Study
The bottle had a modest beginning in 1894 when a store owner began bottling the popular new fountain soda called Coca-Cola in a cork capped Hutchinson glass bottle. It wasn’t until 1915 that a contour shaped bottle designed by The Root Glass Company was approved. According to popular belief, the cocoa pod inspired the rounded shape of the bottle. In fact, the first prototype’s middle was larger than the base, making it unstable on conveyor belts. It wasn’t until the bottle was put on a diet that the distinctive curvy shape we are familiar with today emerged. Expending world wide as well as into pop culture; * Mythologies that keep the people talking may have come from employees themselves to keep the name going; * Loaning out the logo around 40$ million; * Free Coke voucher campaign; * Atlanta’s Coca-Cola museum; 2) Explain why is it important for an organization to seek out new marketing opportunities and provide an example of the benefits one of Coke’s marketing opportunities has provided the company? * They firmly believe if you want to establish a clear image in the minds of consumers, you first need a clear image in your own mind. Since the major competitor is Pepsi Co. so Coca-Cola has focused on neutralizing the competition. * The coca cola marketing team maintained their focus strongly on the product itself. When they changed bottle shape, many people started buying bottles instead of the drink itself. * They specified the criteria for each product offered because if you don’t specify the criteria for choosing consumers will develop their own, which is dangerous. 3) What do we learn from the article in terms of how Coca-Cola generates new marketing opportunities?
Recently they have realized that their marketing strategy that has worked well for them for decades needed to evolve and as such they are moving from Creative Excellence to Content Excellence Creative excellence has always been at the heart of Coca Cola’s advertising and they have decided that content is now the key to marketing in the 21st century on a social web. * New product developments; * To create value and differences; * Market development; * Product overness; 4) If Coca-Cola as a Head of Innovation employed you, what are three additional methods you would employ to generate new marketing opportunities? ) Articulate and explain the seven key stages all ideas pass through before they get taken to market. -Idea generation The process of creating, and evaluate the problems that the business is facing. -Idea Screening Companies use idea screening to make good decisions that are in line with the company’s objectives. For example if a company wants to introduce a new product in the market, the management collect new ideas they can use, so among those many ideas they have to look at each one of them closely, evaluate and scrutinizing them and eliminate those that are not effective, in order to remain with the most effective idea. Concept Development Concept development is a process driven by a set of customer needs and target product specifications, which are then converted into a set of conceptual designs and potential technological solutions. These solutions represent an approximate description of form, working principles, and product features. Often, industrial design models and experimental prototypes that help in making final selections accompany these concepts. -Marketing strategy/Business analysis A new product idea that survives the screening stage of new product development requires a more sophisticated and detailed business analysis.
A business analysis will help you determine the costs involved in your proposed new product development, and forecast the profits you may make from the product in future financial years. The costs of developing a product are substantial. Your business and marketing analysis will also help you eliminate inappropriate ideas and avoid unnecessary costs. -Prototype Development A sample of the product will be made in order to test it before releasing it to the market. This stage is crucial as it allows the organization to acknowledge any faults and/or changes that need to be made or implemented.
By doing so, the organization will save money in case the product does not turn out perfect the first time, which in most or all cases, never does. -Test Marketing Test marketing is an experiment conducted in a field laboratory (the test market) comprising of actual stores and real life buying situations without the buyers knowing they are participating in an evaluation exercise. It simulates the eventual market mix to ascertain costumer reaction. Depending on the quality and quantity of sales data required for the final decision, test marketing may last from few weeks to several months.
Due to its high cost however test marketing is more suitable for fast moving packaged goods then consumer durables. -Commercialization The product is ready to be advertised and launched to the public. 6) Plot where you believe the following marketing opportunities would sit on Ansoff’s Matrix -Vitamin Water Product Development -Coke Zero Market Development -Social media campaign to launch Vitamin Water Market Penetration 7) We have discussed the importance of protecting the existing customer base when seeking out new marketing opportunities.
Discuss why this is important and provide an example within the case study that highlights its importance. Its important to protect the existing customer because they are the main source of income. With out them the company would lose their money. When they seeking for new marketing opportunities, the existing customer tends feel like his not important anymore as the new customer and they may move onto another brand. In addition, the base brand that the organization started off with usually generates the most income for the company. Based on sales the real Coke Classis still has the lions share of the coke at 70% sales.
While Diet and Zero making up the rest. 8) Given the information provided in the case study and some of the idea generation techniques we have looked at in class (brainstorm/mind map/research consumer trends), identify two new marketing opportunities you believe would offer a strong return to the Coca-Cola brand. Explain each opportunity and your rationale as to why you believe each worthy of conducting a feasibility study. One of the most iconic brands in history is Coca-Cola has amassed one of the largest social media communities in the world. At the time of writing Coca-Cola have over 59 million Facebook Fans and 125 million YouTube views. Share this post with your friends and receive a 50% discount on any of our products under $4! ” or, “Share this picture for your chance to win an awesome blow up chair for the pool! ” In the list of most popular Facebook Brand Pages, Coca-Cola is now headed only by YouTube and Facebook itself and leads a very illustrious top 10 including Disney, Red Bull and Starbucks. “Share this post with your friends and receive a 50% discount on any of our products under $4! ” or, “Share this picture for your chance to win an awesome blow up chair for the pool! ”