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Pages:
3 pages/≈825 words
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Level:
APA
Subject:
Business & Marketing
Type:
Book Report
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English (U.S.)
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Topic:

A New Product for Coca Cola Company: Strategies and Tactics (Book Report Sample)

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A New Product for Coca Cola Company: Strategies and Tactics

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Content:

A New Product for Coca Cola Company: Strategies and Tactics
Student’s Name
Institutional Affiliation
Outline
* Introduction
* Strategies and Tactics
1 Marketing and Information Technology
2 Monitoring and Control
3 Evaluation
4 Ethical, Legal and Regulatory Issues
5 Corporate Social Responsibility
6 Implications of the Triple Bottom Line
* Conclusion
A New Product for Coca Cola Company: Strategies and Tactics
Introduction
Coca Cola’s new product Coke Diet Plus is likely to get a larger and wider market compared to its previous similar products like Coke Diet. This new product is positioned to attract clients who believe that they can have fun but still drink healthy drinks. Coca Cola will be the first company to launch this new product that contains nutrients and lacks the harmful sugars that are feared by most people. However, it is imperative for the company to consider various issues and act responsibly before it achieves the intended purposes. Strategic positioning, rebranding, pricing and effective marketing strategies alone are not adequate to guarantee this company a reliable and stable market for the new product (Harris, Heard, & Kunkel, 2015). This paper examines the strategies and tactics that Coca Cola Company can employ to win the targeted clients, maintain them and expand its market for the Coke Diet Plus brand.
Strategies and Tactics
Marketing and Information Technology
Today, the use of modern technology in all companies is a basic requirement since lifestyles, trends and consumer preferences have changed significantly. Investors have a challenge of deciding which communication channels suits them in terms of effectiveness, availability, affordability and integration with the existing systems and structures. The production of a high-quality and cheap product is not a guarantee that it will sell if the producer does not invest in marketing and advertising it to the right clients (Singh, 2014). Coca-Cola has a unique marketing strategy that has enabled it to sell its existing products. However, this new product is unique and may not auger well with the existing marketing strategies. The company should not target the whole public but instead focus on potential customers who are conscious about what they take and would like to keep their bodies healthy and fit while enjoying the fun and refreshment of a drink. Geo-targeting is a best example of a marketing strategy that will target consumers who want nutritious drinks that are free from sugars. The use of the social and mainstream media would promote the popularity of this product. In addition, the use of branded promotions will enable the message to be delivered to the right audience while also promoting the value and benefit of this product. The inclusion of modern advertisement channels like the internet, Facebook, Twitter, Google and other social network sites will promote the popularity of this product and give people ample time to know its qualities and benefits.
Monitoring and Control
Coca Cola has an effective monitoring and control department that is responsible for the supervision of how consumers react to its products. The monitoring and control department ensures that the company’s products meet the needs of consumers, makes them happy and attracts new ones (Kapferer, 2012). Winning customer loyalty is also a prerogative of this department that ensures the quality of the company’s products is not compromised even as the company gets many clients. The department ensures the company sustains a culture o...
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