Marketing Plan

Abstract

My study relates to the coca cola company. The Coca Cola Company has been a World leader in the beverages segment of the market for years making it one of the most recognizable brands in the world. Its success has generally been due to the popularity of some of its products such as Coke, Fanta and Sprite. Though not entirely failures, most of the other products under the Coca Cola umbrella are yet to catch on in the market. A much different approach to marketing these products in the hope that they will catch on.

The Minute Maid Company is a branch of the coca Cola Company that concentrates in the production of juices and most specifically Minute Maid Pulpy Orange Juice that is the focus of our study.

Executive summary

The following marketing plan intends to promote two of Coca Cola’s less renowned products. The plan is aimed at enabling the Coca Cola company achieve its targets. “Minute Maid Pulpy Orange Juice” and “Bubble Buzz” have been in the market for some time now. Each of these products was released with the aim of controlling a certain section of the market. The marketing strategies are aimed at keeping the company at the top of the food chain. Both products are very innovative as per Coca Cola’s standards thus a guarantee to be World leaders in their respective market section.

The marketing plan is intended to increase the market share of each of the products by over 7% annually for the next decade. In the case of Bubble Buzz, being a relatively new product, the company’s target is to capture the market share that has been over the years been dominated by other brands. In the case off the Minute Maid brand, though a World leader in its own right, the company intends to make it as popular as the other top brands by   increasing its distribution. It is for this reason that the company is currently in the process of introducing this new product in most emerging markets.

Brief description of products

Bubble Buzz is a ready to drink tea product available in the market making it a pioneer in its own right. The product contains a green tea base with a variety of fruit flavors for enhancement to suite different tastes and occasions. It is supposed to bring a completely new experience to drinkers due to its unique packaging that deviates from the norm and the fruit flavor that completes alters the whole experience.

Minute Maid’s Pulpy Orange juice on the other hand, is an innovative fruit juice that is not exactly that new in the market. The juice is made from pure fruit extracts making it a favorite for the health conscious population.

Customer Targets

            Bubble Buzz is yet to catch on in most geographical settings because of various reasons. It is generally going to be sold in town setting where the target customers are the working class and students. This is because it is meant to cater for their busy schedules and nutritional requirements. The target age is between 16 and 30 years.

On the other hand, Pulpy Orange juice does not have a specific target group in terms of geography. It has no boundaries as pertains to who can drink it. In terms of demography, the target group is children and young adults of the ages between 10 and 30 years. It is of greater use to men because it helps in regulating hypercholesterolemia.

Target market changes and growth in the next decade

In order for the company to achieve, its growth targets then the company may have to segment the customers. It is important for the company to segment its sale of products I order to maximize its sales in the near future. The segments can be divided into four to cater for every aspect in the market; demographical, geographical, psychograhical and behavioral.

In demographic segmentation, we cater for the physical make up of an individual and how any of these features will determine the demand for the two products. The tastes and preferences of the customers are bound to change with age and as such, the products should have a specific target group on which most attention should be paid when advertising.

In geographical segmentation, the emphasis is put on the location of the customers. A product such as Bubble Buzz will appeal more to those living in towns than those living in rural areas. Understanding how the geography affects the demand a for commodities will help with the distribution and advertising of the two products. Both psychographic and behavior segmentation deal with the character of an individual.

Strategic Positioning in the market will ensure that either of the products competes fairly but with a slight advantage over other brands. The advantage that these products have over other products is the fact that they trade under a reputable brand. The Coca Cola Company has quite a reputation because of the quality of services and products they offer. It is as such expected that the products will only grow in popularity over the coming 10 years or so.

Taking into consideration the image of the company, then we shall adapt the quality positioning strategy. The two are guaranteed to be of the highest quality if history is anything to go buy. It will be easier to sell the two based on their quality as compared to competing brands. Putting the two products up against much “inferior” quality goods will ensure that our products emerge tops thus dominating the market over the next decade.

Competitive analysis in positioning strategy

Strengths

To start with, the products will sell on the strength of the Coca Cola brand. The Coca Cola brand is renowned for its quality products and as such, the products do not have any problem creating a niche for themselves in the market. Second, the products benefit from the existing distribution channels established by the Coca Cola Company in almost every country in the World.

Weaknesses

One weakness of the in trying to positioning in the market is the existence of other established drinks that compete generally for the same market. The carbonated drinks section for example is already saturated.

Opportunities

The market is always in search of new and innovative products and as such, these products can prosper. The brands are also attractive to everyone including international partners.

Threats

The greatest threat to the products is the competition that they receive from other already established drinks. Breaking into the elite group of brands in the market is not as such supportive for smaller and new products.

References

Dawson, Jennifer (January 21, 2008). "Minute Maid gets $2.4M incentive for move to sugar         land." Houston Business Journal.

Grewal & Levy (2010). Marketing (2^nd. ed). Levy &McGraw-Hill Irwin.

Theodore, Sarah (Feb 2005). “RTD coffee, tea create a buzz.” Beverage Industry, 96(2); 16.

Theodore, Sarah (Jul 2005). “Surprising suggestions from teens.” Beverage Industry, 96(7); 4.