Strategic Plan for New Product (Carbonated Soft Drink)

Abstract

The report will present a strategic marketing plan for a new carbonated soft drink; given the name “Bubble Bizz”. This report will aid the company in analyzing specific market demands and requirements that will simplify, and ensure the success of carbonated soft drink. The following analysis will reveal how new strategies, with respect to product innovation and implementation, will help the Coca Cola Company in reaching a market of around 8,688,300 individuals with profits reflective of the population mentioned. Before concluding, the report will provide details of implementation and evaluation of the supposed outcomes.

Table of Contents

Introduction3

Literature Review3

Resource Requirements and Costs3

Project Specifications4

Limitations to Research4

Evaluation5

Conclusion5

References6

Strategic Plan for New Product (Carbonated Soft Drink)

Introduction

Every year, over a hundred different products are introduced in the consumer goods market. This is done as an effort to gain sizeable market share or to remain competitive with respect to the actions of the competition. Only a handful of the organizations are able to meet their objectives or increase their respective market share. The primary reason for failure behind the product development and implementation plan is the lack of an effective research and marketing strategy. The purpose of this paper is to propose, analyze, plan and implement the introduction of a new product in the carbonated soft drink.

The carbonated soft drink industry has always been one dominated by market giants like Pepsi and Coca Cola. For the purpose of this paper, the proposed product will be introduced as a new product under the Coco Cola brand name. A soft drink was chosen based on simple statistics like the per capita consumption. Per capita consumption of carbonated soft drinks has increased 2.5 times in the previous thirty years and it accounts for approximately 49% of the American beverage industry (Muris et al, 1993; Dube, 2005). By choosing a well established brand, the product will acquire an association with a substantially large customer base and will directly benefit potential sales for the best.

Literature Review

The aim of Coca Cola is to benefit and refresh all the customers. It was established in the year 1886 and is considers to be a market leader in terms of manufacturing, marketing and distribution of carbonated soft drinks. This truly is a feat considering the fact that soft drinks are created without any alcoholic concentrates. The primary ingredients include syrups, water, coloring and sugar. The exact recipe has never been made public and is considered a trade secret, safely tucked away in vault whose location will never be disclosed. The organization is currently operating in approximately 200 countries with headquarters in Atlanta. The product about to be introduced will be a cross between iced tea and current successful Coca Cola flavors. With a resemblance to tea as the foundation, the flavors will be enhanced with flavors like passion fruit, strawberry and lime. The final product will deliver an experience that is currently unavailable in the carbonated soft drink market and will surely add to the current customer fan ...