STRATEGIC MARKETING PLAN 5 Strategic Marketing Plan Keesha Westry ✓ Solved

New Product Idea: the new product that I am to produce for the company is the Green drink. Green is a drink that will help the company reduce the criticism of the company not being health concerned. For quite a while, the company has been accused of facilitating diabetes and feeling great pressure due to high sugar levels in their drinks. The non-alcoholic beverage will be made up of majorly ginger and garlic combination going less chemical as the requirements of most health standards.

The product will come out in two versions green, zero, and green. The sugar will be zero in the green zero, and it will also provide the diversification the company needs in the market against the competitors. The drink will be distributed across the globe due to the growing concerns of diabetes and countries like the USA considering health for their market. The product will be very effective for the Coca-Cola company.

Part A: Environmental Analysis and SWOT Analysis Company Description

Company for the product and Description: Coca-Cola is the leading company in the beverage industry for the fastness and the vastness to which it has covered the globe. There is a nine over ten chance that there is a Coca-Cola product in every one of the shops or fridges that we open. The company is licensed to sell many non-alcoholic drinks, including waters, enhanced waters, juices, and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.

Vision and Mission Statement: The company's mission is to refresh the world as the company strives to make a difference among the community members. The company has a mission statement of "to craft the brands and choice of drinks that people love, to refresh them in body and spirit. And done in ways that create a more sustainable business and better-shared future that makes a difference in people's lives, communities, and our planet." Product line description: The company deals purely with the no alcoholic beverages with about 200 brands — from Coca-Cola to smart water, to Costa coffee.

Environmental Analysis: We will look into competitive forces, economic forces, political forces, Legal, Regulatory, and Ethical Issues, Technological Forces, and social forces in the environmental analysis.

Current Market Targets: The current target market for Coca-Cola and the new products and services is the youth and the health clients, respectively, who are the most significant percentage of the people in the country, and they tend to define the future generation.

SWOT Analysis: SWOT analysis involved strengths, weaknesses, opportunities, and threats that Coca-Cola is going through. Strengths include strong brand identity and company valuation while weaknesses include competition from Pepsi and low diversification of products. Opportunities encompass introducing new products and increasing presence in developing countries while threats include packaging controversies and direct competition.

Marketing Objectives: The marketing mix of the Coca-Cola company aims to inform and educate consumers about the presence and benefits of its products. The company associates itself with happiness in the market, ensuring its competitive advantage through proper market strategies.

Paper For Above Instructions

The Coca-Cola Company, as an industry leader in the beverage sector, faces continuous pressure to innovate amid environmental and health trends. The introduction of "Green," a health-conscious beverage featuring ginger and garlic as primary ingredients, constitutes an essential addition to Coca-Cola’s product line, addressing rising health concerns. This paper examines strategic marketing aspects around the product, employing environmental and SWOT analysis and elucidating marketing objectives and results.

To grasp the complexities Coca-Cola navigates, understanding the current environmental context becomes indispensable. Competitive forces are rife, with Coca-Cola in direct competition with major entities like PepsiCo and Unilever. High market penetration via a robust distribution network fosters brand strength yet warrants careful attention to emerging health critiquing. Economic forces underpin growth potential, highlighting Coca-Cola's capacity to cater to diverse consumer preferences through product variation.

Political and legal environments dictate Coca-Cola's operations globally, amplifying the necessity for compliance with varying legislative demands across markets. Regulatory challenges accompany ethical concerns, particularly regarding health implications from sugar levels in beverages. Thus, Coca-Cola adopts technology to enhance production efficacy and adapt marketing strategies to shifting consumer sentiments. Social factors reveal evolving health consciousness, aligning consumer preferences with Coca-Cola’s strategic vision.

The target market, primarily health-conscious youths and adults, lends itself well to the new product, "Green." This demographic exhibits a proclivity towards healthy living, further driving Coca-Cola to innovate while expanding its market reach. As a result, incorporating consumer feedback through research channels will help refine product offerings, titled "Green" and "Green Zero," to meet the evolving demands for low-sugar options.

Conducting a comprehensive SWOT analysis presents critical insights. Strengths include Coca-Cola's unparalleled brand identity and vast global outreach, positioning it favorably for introducing health-centric products like "Green." The company’s significant market share and robust customer loyalty further bolster the anticipated success of this new product line. On the flip side, weaknesses manifest through tight competition from Pepsi and the need for more diversified offerings. Opportunities abound in capitalizing on market gaps for health-oriented beverages, particularly in trending consumer sectors.

Marketing objectives are crucial to integrating "Green" into Coca-Cola's existing distribution framework. Utilizing the 4Ps—Product, Price, Place, and Promotion—will clarify Coca-Cola's strategies:

  • Product: "Green" and its zero-sugar counterpart cater to health-conscious consumers.

  • Price: A competitive pricing strategy will ensure accessibility and encourage trial among consumers.

  • Place: Extensive distribution networks will facilitate product availability globally.

  • Promotion: Leveraging social media and traditional marketing will enhance product visibility and stimulate interest.

Implementing these strategies involves the adept organization of Coca-Cola’s marketing plan. Teams will focus on market segmentation, adjusting promotional efforts to resonate with specific audiences, while responsible roles are designated to ensure fluid execution. Evaluating marketing communication channels—online promotions through social media juxtaposed with traditional venues—assists in synthesizing outreach efforts, with considerations on their respective advantages and disadvantages determining channel effectiveness.

Strategic actions will hinge on measurable goals to gauge the success of “Green.” Future performance metrics include unit sales, market share analysis, and consumer feedback collection, facilitating ongoing adjustments to marketing approaches as necessary. The planned monitoring will ensure that each strategic action yields data to inform future decisions, maintaining Coca-Cola's relevance in a dynamic market.

In conclusion, the anticipated launch of "Green" epitomizes a necessary shift for Coca-Cola in addressing consumer health concerns. Through well-structured marketing strategies and responsiveness to consumer preferences, Coca-Cola can solidify its industry leadership while catering to the evolving demands of a health-conscious populace.

References

  • Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).

  • Thabit, T., & Raewf, M. (2018). The evaluation of marketing mix elements: A case study. International Journal of Social Sciences & Educational Studies, 4(4).

  • Kotler, P., & Keller, K. L. (2016). Marketing management. Pearson.

  • McDonald, M., & Wilson, H. (2016). Marketing plans: How to prepare them, how to use them. John Wiley & Sons.

  • Porter, M. E. (2008). Competitive advantage: Creating and sustaining superior performance. Free Press.

  • Armstrong, G., & Kotler, P. (2017). Marketing: An introduction. Pearson.

  • Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson.

  • Smith, P. R., & Zook, Z. (2016). Marketing communications: Integrating offline and online with social media. Kogan Page.

  • Belch, G. E., & Belch, M. A. (2018). Advertising and promotion: An integrated marketing communications perspective. McGraw-Hill.

  • Baker, M. J., & Hart, S. (2016). The marketing book. Routledge.