A Decision of Uncertainty Research statistical data in a business context that requires a decision. Use probability concepts to formulate a decision. Write a 700- to 1,050-word paper explaining your research methods and process for limiting the uncertainty in the decision. Address the following in your paper: Include how you applied concepts to formulate your decision. Include appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision. Identify each outcome from your statistical analysis, providing rationale for each. Identify tradeoffs between accuracy and precision required by various probability concepts and the effect on your data. Include the decision you made based on statistical data The Coca-Cola Company is in the process of introducing a pocketbook drink called Dasani Drops. These are drops carried in one's handbag that people can carry around with them in a compact way and then drop into water when that water is accessible turning the liquid into a healthy, tasty drink. The aim of the new drink is to use artificial sweeteners (that are considered healthier) and to lower the calorie counts in soda. The drink is comparatively expensive: $4 dollars. I have been asked to help decide segmentation for this product. This involves making the decision of selecting a certain market exclusive to other potential markets and targeting the product to that specific one. By doing so, I am, in effect, determining that
In this assignment I’m going to describe how the marketing research information is used in order to understand customers, competitors and the market environment in a company like Coca Cola. I’m also going to describe how the link between the principles of marketing are applied within the Coca Cola Company and the marketing research activities used by the same organisation.
The next stage is a stage of providing the actual change actions. Here, the company has chosen a new CEO and President, Douglas Daft, who was an opposite of Ivestor. Daft was a delegator, who wanted to turn Coca-Cola to a most desired company by employees in the world. He also saw a company as a head of the class, when speaking about diversity of workforce and business. Daft was fast in his actions. He has put Ware on the position of Vice-President for Global Public Affairs, as he was concerned about diversity issues in the company as well. They applied Ware’s suggestions about supporting the diversity from the top-executives and tying compensation increases to the achievement of diversity goals. On this stage, the U.S. District Court for the Northern District of Georgia approved the Settlement Agreement, which was used to non-hourly U.S.-based workers of the company, excluding its bottlers and called for pay-back to employees, future pay equity and equal employment opportunity. Task Force was created to provide an independent supervision of company’s compliance and was reporting on implementation of these programs. On this stage, Coca-Cola learned a lot about its past mistakes and provided dozens of changes to its policies and procedures. As it is not possible to change a whole organization in a short-time period, Coca-Cola was implementing changes during the next decade after a lawsuit and even created a document, called “Manifesto of
The analysis of a company's financial statements helps in the determination of both the weaknesses and strengths of the concerned entity. Further, such an analysis helps in the determination of the future viability of firms. There are a wide range of techniques utilized in the analysis of financial statements. In that regard, it is important to note that the relevance of a horizontal, vertical as well as ratio analysis of a company's financial statements cannot be overstated. This is more so the case when it comes to the interpretation of the various dollar amounts presented in both the balance sheet and the income statement. In this text, I carry out a horizontal, vertical as well as ratio analysis of both The Coca-Cola Company and PepsiCo, Inc. The analysis' results will be critical in the evaluation of each company's performance. Findings will be used as a basis for recommendations on how each company can improve its financial status.
In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).
Explain the process of market segmentation and targeting, and the benefits of segmentation and targeting to Clare’s Chocolates. (150 words) Market segmentation is gathering of potential buyers into groups, that have common needs and it will help you to market your products and services effectively. So that you have more understanding how to market your products and
Coca-Cola and Pepsi were fought over for a very long time in the carbonated soft drink beverage industry. Today, I will used AFI framework to analyze Cola-Cola performance and find out how did this company deal with the decline in the CSD consumption and its rivalry.
What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).
Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other
The history of Coca Cola began in 1886 when Dr. John S Pemberton, an Atlanta pharmacist created a tasty soft drink which could sell at soda fountains. Since then, Coca Cola grew to be a global brand and touched great heights. Today, it sells across 200 countries and is just as popular across all the markets and nations. The company today, owns or licenses and markets more than 500 non alcoholic beverage brands. The brand has only few major competitors in the global market. The daily servings of coca cola are estimated to be at 1.9 billion globally. (Coca-Colahellenic, n.d.) This is just another proof of the popularity of the brand which has a very large and diversified
Coca-Cola remains one of the most recognized brand names in the world today, worth more than $73 billion in 2011. However, in the 1990s and 2000s poor decisions, mismanagement, and alleged misconduct cast a shadow over the company. The following incidents exemplify some of the key crisis Coca-Cola has faced in the last several years.
The Coca-Cola Company is one of the world’s largest manufacturers and distributors of more than 500 non-alcoholic beverages, including Coca-Cola, Diet Coke, Fanta and Sprite lines. The company’s interest market covers more than 200 countries worldwide using the distribution system that includes independent bottling partners, distributors and retailers.
Segmentation is a tool; purpose is to choose target market.Segmentation comes prior to target market Many different tasks are involved other than segmentation when choosing target market Look at each segment on its own as an individual marketing opportunity. Potential worth of each segment To examine whether the whole market should be chosen or only few segments To find segments which are less satisfied in market from competitor brand.
Coca-Cola has slowly worked its way to the top and has become well known throughout the world as the most popular company for soft drink beverages. It all started in April 1865, John Pemberton was serving for the Confederate Army’s 12th Cavalry Regiment in the Battle of Columbus Georgia (Journey). Pemberton got severely wounded and became addicted to the morphine he received when recovering. John Pemberton was a pharmacist and wanted to find a safer alternative to his addiction. At first, Pemberton created a beverage that had alcohol in it. But in 1886, Atlanta and Fulton County began to participate in the temperance movement, a social movement to consume alcohol in moderation (Journey). This caused Pemberton to experiment and come up with a non-alcoholic beverage. After a lot of trial and error, in 1886, Pemberton created what he believed to be the perfect recipe and he named it Coca-Cola. From then on Coca-Cola has become a very popular soda beverage.
Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.
The world is made up of different people, therefore segmentation provides consumers products that fulfil their individual needs. Martin (2011) states that companies have to try different segmentation variables either alone or in combination because often the best choices arise from using various strategies. There are few ways to segment a market, therefore, companies must think innovatively and be willing to re-segment if needed.