1. Executive Summary Evio is the new product by Coca-Cola, which maintains the good taste of diet coke, and meanwhile, provides great energy for the consumers. Especially, Evio contains much less calories and sugar than diet coke. The new product is especially targeted at young consumers aged 25-40, who pursues a healthy and energetic lifestyle. Evio will be offered in several key markets like the US, Australia and China. In the recent years, the major cause for Coca-Cola’s market decline was that people pay attention to importance of health and turned to healthier drinks with fewer calories (Kell n. pag.). Therefore, Coca-Cola is likely to benefit from Evio in three aspects. First, Evio will update consumers’ understanding of Coke. …show more content…
Coca-Cola spends huge amounts of fund on marketing every year to remain its competitiveness. However, recently, Coca-Cola had a weak global growth. The sales volume of soda is not so satisfactory. Coke is claimed to have too many calories and sugar, thus being bad to health, as a result of which, consumers turn their attention to other drinks (Kell n. pag.). In this circumstance, it is of great significance for Coca-Cola to develop a new product that carries forward the classic flavor but overcomes the disadvantages of the diet coke. Especially, this new product should be more targeted at the consumers with an immense consumption potential. Evio is such a new product. It will update consumers’ knowledge about coke and leads Coca-Cola to a new height in terms of world fame and market growth. 3. Strategic Focus Evio has three unique selling points. Firstly, it still has the good taste of diet coke. Actually, Coca-Cola released weight-reducing, Coca Cola Plus, but consumers seem to dislike the taste (McCarthy n.pag.). Consumers felt the taste of Coca Cola Plus should be improved. Secondly, Evio will make drinkers more energetic. As mentioned, consumers aged 25-40 are often busy with study or work, so they need a drink to make them vigorous. These consumers tend to choose energy drinks more often. Thirdly, Evio contains much fewer calories and
This beverage is consumed by 1.7 billion people every day. In terms of “people”, the idea of best friends, moms and dads, business partners, spouses, and even the occasional stranger on the street are granted the opportunity to savor the taste of Coke. Varieties of vibrant food and the company from loved ones appeal to
Coca-Cola is shifting its product strategy to develop healthy beverages. “Minnick’s ambitions, if they hold, would utterly redefine Coca-Cola’s image as a purveyor of sugar-laden junk that you should’ve give your kids” (Carvens & Piercy, 2009). Entering a healthy-beverage market segment can potentially improve as well as expand Coca-Cola image. The new market segment will reel in even more consumers for the company, only
Coca-Cola and Pepsi are two of the most popular drinks in the world. The strong competition between both began in the seventies and continues even to present day. It was even dubbed The “Cola Wars”.
A company must be in tune with what consumers want. Consumers get bored, and often want new products. In order to meet the wants and needs of customers a company must introduce new products or services (Bateman &Snell, 2003). Coca-Cola, in an effort to meet customer's needs, created C2 which is a low carb soft drink. This was in response to the low carb diets and the demands of consumers. They also intend to launch a new soft drink called Coca-Cola Zero. This is a zero calorie soft drink. Knowing the importance of innovation the Coca-Cola Company has always strived to create new products. They already have Coke with Lime, Lemon, Vanilla and Cherry. Raspberry will be the new flavor added to Coke coming soon. They also have plans to sweeten Diet Coke with Splenda, a sugar substitute that is safe for
The Coca-Cola organization has made exemplary strides mainly to offer a variety of products to its clients even with the competitive nature of the market. Consumers’ choice gets based on the brand aspect in which the organization wins most customers' heart against its rivals. Even though a significant number of people deny cases to having inclination picking between Coca-Cola items or its rivals', many have a strong desire in some way. Many inclines toward Coca-Cola products since the organization has more than hundred years of history and predictable brand image. This picture is engraved in a lot of people subsequently end up purchasing their beverages. It is out rightly conspicuous in the company’s high market share in the field of soft drinks.
Another important weakness is that the company’s products are seen as a major cause of obesity. (Melser, 2013) The beverage sales are affected by various factors including change in trends and preferences. Recently, beverage sales have fallen because of people’s increased preference for the health drinks. Around the world, obesity is a major problem and the Coca Cola products are seen as a major cause of obesity. As people are getting health conscious they are moving towards low calorie healthy drinks. This affects coca cola’s profitability and popularity. However, the brand can overcome this situation by increasing the number of low calorie products in its brand portfolio. It will need to add more healthy choices for its customers in its product portfolio.
Energy drinks have outperformed the growth in carbonates in the last few years, and present a substantial opportunity for beverage manufacturers to extract further growth from their sales. There are many driving forces of change and critical success factors in the energy drink industry. Companies such as Coke Cola and Pepsi contend with criticism from health officials due to the excessive caffeine in most high-energy drinks. However, before the 2000’s consumers were accustomed to carbonated soft drinks as the traditional beverage. The shift to an energy drink, sports drink, and vitamin enhanced waters increased sales while becoming an alternative beverage choice for a fast-paced mobile society. Therefore, this industry endures many
Coca-Cola Company has realized significant growth since its establishment to become a global leader in the marketing, manufacturing, and distribution of syrup and soft drinks. Out of the four generic strategies, the company has followed the differentiation strategy to make its products unique in the market. Its interest is to maximize the market share through the development of the most innovative products and the establishment of effective strategies to influence the customer’s decisions. In such a way, the company has integrated various strategies to ensure that desirable results are attained in the market. Its strategic choices align with the differentiation strategy in an attempt to make its products unique and meet diverse market requirements. To reduce its weaknesses, the company should consider exploiting key opportunities in the market including venturing in the packaging of water, promotion of new brands, and launching of healthy products. In particular, the vision and mission statement of Coca-Cola seems to have reconfirmed and changed in this process of company’s strategic analysis.
In this time where the world is quickly changing, Coca-Cola should consider shifting with consumers by personalizing and customizing products to healthy ones. They should become more global and focus on systematic problem solving to help solve this problem. So that, in the instance actions is taken against high level sugary or caloric drinks, they would not be affected and the beginning product, the foundation of the company’s name would not be
There are changes in consumer preference in the society. Societies tend to be healthier; therefore, they focus on drinking health beverages. People are changing their attitudes and keep their mind on consuming health drinks in order to avoid diseases like obesity and diabetes. Many companies have tried to invent a great variety of innovative drinks as it’s a trend of consuming healthy drink nowadays.
Absence in health beverages – If you watch the news, you would know that obesity is a major problem affecting people nowadays. The business environment is changing and people are taking measures to ensure that they are not obese. Carbonated beverages are one of the major reasons for fat intake and Coca cola is the largest manufacturer of Carbonated beverages. The inference is that the consumption of beverages in developed countries might go down as people will prefer a healthy alternative.
Coca-Cola is a well-known global soft drink brand that has been around for over 130 years. Its distinguished taste, unique ingredients, and famous contour bottle is not recognized internationally but throughout various countries around the world. The company’s business level strategy is differentiation/ low cost strategy. This strategy is important for the long term success of the company because it allows for the company improve to adapting to environmental changes, learn and teach new skills, and gain leverage over core competencies which in turns increases its value. Coca-Cola does not have an issue with introducing and innovating products to its
The soft drinks market is dominated by 3 household Coca Cola, PepsiCo and Dr Pepper Snapple. Coke Zero is successful because it was carried to new category – sugar free coke and be first to get into the prospect’s mind. It is filled a need for an underserved consumer -- young adult males, offering to anyone seeking great Coca Cola taste with zero calories. In a world where new products rise and
Coca-Cola has been around for generations with the same iconic taste, logo and symbolism. Its brand has represented family and the memories of good times, celebrations and comfort of being with those we love. Unfortunately, the company has not made good marketing decisions in the recent past and has lost relevancy. The purpose of this essay is to assess the conditions that created Coca-Colas marketing problems, evaluate the future of healthy beverages and non-carb drink brand extensions, and provide recommendations to the management.
I’m an undergraduate student majoring in economy prepared the marketing plan for the purpose of learning and experience.