MBA 705 Milestone One Guidelines and Rubric Overview: For the capstone assessment, you will create a business implementation plan and audiovisual presentation for the product, service, or idea you have been developing throughout your MBA coursework. In Milestone One, you will submit the justification for your idea or concept. You will connect entrepreneurship or intrapreneurship with organization change and survival. This milestone lays the foundation for the rest of the project by outlining the justification of an idea or concept. Ultimately, the justification in this milestone will provide much of the reasoning that decision makers will use to determine if they will fund your idea or concept. Critical Elements:  Rationale: Lay out the rationale for the idea or concept.  Problem or Opportunity: Identify the problem or opportunity that the idea or concept addresses.  Market: Analyze the market for the product or service.  Competition: Analyze the key features that set the product or service apart from the competition.  Company: Explain how the concept fits with the mission, vision, and priorities of the company implementing the product or service.  Innovation: Discuss how or why the product or service is innovative. Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page and references) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page. Critical Elements Main Elements Critical Thinking Rationale Problem or Opportunity Market Competition Proficient (100%) Includes most of the main elements Provides logical conclusions and defends with examples Provides rationale and thoroughly defends it Identifies the problem or opportunity and includes a detailed description of how the idea or concept addresses the problem or opportunity Analyzes the market for the product or service and quantifies market size Analyzes key features, outlines how these meet unmet customer needs, and explains how the key features set the product or service apart from the competition Not Proficient (0%) Does not include any of the main elements Does not provide logical conclusions Value 15 15 Does not provide rationale Does not discuss the problem or opportunity 10 10 Does not analyze market for product or service Does not provide key features 10 10 Company Innovation Articulation of Response Explains how the concept fits with the mission, vision, and priorities of the company implementing the product or service, and connects this information with long term organizational strategy Discusses how or why the product is innovative and situates the product or service within the implementing company’s larger product or service portfolio Submission does not have critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Does not explain how concept fits with the mission, vision, and priorities of the company implementing the product or service 10 Does not discuss how the concept or idea is innovative 10 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 10 100% COCA COLA COMPANY Stephanie Kimber MBA-705 September 6, 2017 Rational The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over two hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed Coca Cola in front of all its rivals. The organization’s products are easily identified and recognized by all (Bell, 2013). The popularity of the company has made it an exceptional and unmistakable group. Due to its branding, Coca Cola has been able to do well and grow regarding revenue, a factor that will continue. The profits are key aspects have enhanced its promotion of some of the new products and their advertisements. Coca Cola as it considers the advancement of numerous different items. Multiple aspects of Coca-Cola turn out to be better than that of contenders, from corporate structure to promotional techniques. Some of this entail, implementation plan, positioning and market mix strategy. These perspectives place Coca-Cola way in front of its competitors, instilling hope to the company for higher targets and objectives. It is the organization’s primary goal to refresh and fulfill the world. It is their vision to make their products to be within reach regardless of their geographical positions. A number of changes have occurred in the company since its incorporation. Most of these changes are geared towards accelerating the growth of the company Among them include the purchase of other brands that are doing well in the market and investing in global marketing campaigns like the one brand campaign. Another very significant change that has been noted worldwide is the introduction of several other brands of Coke that are being marketed under the one brand campaign. These are the diet coke, light and zero. These brands are meant to target the brand's loyal customers that would still want to watch their sugar intake (De Mooij, 2013). A range of ready-to-drink (RTD) beverages in the first quarter of 2017. These products include RTD coffee, tea lattes, ice coffee, and other products that will be unveiled in due course. These efforts are Coke’s strategy to increase their revenue by following consumer trends around the world. The Global Health and Wellness report by Nielsen (2015) inferred that 49% of respondents believe that they are overweight and 50% of them are trying to lose weight. The study also derived that younger consumers in the emerging markets are increasingly more willing to pay a premium for healthy products (Nielsen, 2015, p. 2). Since Coke has a huge presence in the emerging markets, the demand for healthy products mean that sales for indulgent categories will dwindle over time. To respond to these shifts in consumption, Coke has responded by designing products health-centric products while still fulfilling the refreshment needs of customers. Opportunity For any organization to do well in its field, it needs to have a clear view of its client’s needs. For Coca-Cola organization to completely have this aspect clearly, they must set out on an exercise to decide the customer’s loyalty, satisfaction, and behavior. Soft beverages, unlike alcoholic, can get categorized under a low involvement group of products. It is because of it's inexpensive to purchase nature and its availability to the clients (Noe, 2013). Recent studies indicate that, lately, for one to buy a soft drink there is an in-depth decision making required. 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. Aside from accentuating on client behavior, consumer satisfaction likewise plays a vital role in deciding on the real revenue-boosting factors offer more priority to a business decision that ends up in customer loyalty. Studies show that the Coca Cola Company has the most exceptional reputation as far as the field of manufacturing of soft drinks is concerned. It was even granted as the fifth best in the section of most recognized bodies in the year 2013 across the globe in which its primary opponent came in at position 10. Statists additionally have it that, the phrase or the name "Coca-Cola" gets searched nearly ten times more than its first rival Pepsi. This statics is as indicated by the Google Trends. Another pointer is through the online networking. Coca-Cola has more than 89.8 million preferences against Pepsi's 34 million likes on their separate fan pages on Facebook. Indeed, even with the brand acknowledgment and high popularity, that the organization shows in the soft drinks industry, Coca-Cola organization still have its undertakings at a reasonable level crosswise over different metrics. Even with consumer-packaged commodities have no services component; most customers still prefer to purchase a package. Along these lines, consumer satisfaction for organizations in this field is an essential determinant of client loyalty. Company Brand equity or value alludes to a brand's capacity or power extracted from name recognition and most critical of all the goodwill that it has earned after some time. It translates into its business sales shooting up the rooftop consequently encountering higher net revenues against competing brands. Brand equity metrics is vital in that; it is a technique used in determining the value of the brand which incorporates a logo, name and different aspects that recognize an individual item or services (Shimp, 2013). It comes in handy in advertising, packaging, promoting and various types of marketing correspondences focal point of the relationship of the item to the customers. As far as the organization is concerned, somebody may argue out that it is not the organization's beverages that have made it an outstanding brand amongst others across the world. In any case, it is the entire advertising strategies that the firm utilizes which has influenced it to boost its recognition amongst its customers. The organization has likewise pumped resources into modern marketing techniques, for example, supporting and funding huge events, for instance, Coke Studio, Olympic Games, BET, American Idol, NASCAR, NCAA, and the NBA. These are the most watched games and programs over the world subsequently giving Coca-Cola organization a global appearance (Pride, 2017). The organization's growth is because of three fundamentals factors, industry development particularly the non-alcoholic sector is one of the examples. Recent statistics did show that CocaCola boasts of a five percent expansion in its yearly growth. However, the management shows that this sort of development is not uniform in all of all categories and markets since value increment in developing markets has declined in a previous couple of years because of the pressure heaped on proper utilization expenditures (Shimp, 2013). The second driver is the organization's growth in its shares in which it is said to have outflanked the worldwide industry in the thirty back to back quarters consequently gaining global value shares in that specific time allotment. Price realization is the third and last development factor. It is mostly considering value is enhancing cost architecture in which the organization primarily concentrates on expanding the beverage events and not just improving their soft drinks. Marketing The body utilizes a few techniques for its coordinated marketing correspondences. Taking a case of a pattern in the organization's adverts which they give alternate and new information concerning the drink yet at the same time keeping up and emphasizing how incredible the drink is. These approaches get utilized by the Coca-Cola organization include; interactive marketing, direct marketing, advertisements, public relations and social marketing. It is, in this manner, therefore, that the firm makes use of broad category media platforms for purposes of advertisements. These avenues of media entail billboards, commercials and point-of-sale tools which include those merchandising materials that get used for communicating to clients via viz coolers, equipment used to sell their beverages and display racks. Lately, the organization's adverts highlighted on AdAge's incorporated one that got launched in the year 2010 named "The Happiness Machine," and another done in 2008 known as "It Mine." All have been instrumental in fueling “Coke To the side of Life Campaign" to success. Also, Coca Cola Company utilizes the strategy of direct marketing as far as integrating marketing communication is concerned. This approach involves making agreements with clubs and hotels to offer their soft drinks and beverages. Coca-Cola is additionally taking advantage of global sports and games events where they sponsor them hence using their names. With such a strategy, Coca Cola builds on to its customer database. Competition Interactive online networking has also been another channel that the organization has used to reach to most of the clients. Along these lines, they employ the methods of "fans first" technique. By increasing its online networking appearance, the company has been able to obtain more than 91 million likes and followings on their Facebook fan page. The Enterprise played host to a campaign named #CokeGames on Facebook and Instagram in the year 2014. This sort of interactive approaches came into place because of the Olympic Games that were ongoing at that period. They additionally facilitated occasions, like, "CokeCurling" And "Speed Sipping." The organization posted on its Facebook fan page that Speed skating is fun; however, Seep shipping is delightful. With this well-crafted and innovative approach, the company boosted their brand awareness (Frey, 2014). These changes have definitely been of great benefit to the company and the industry at large. The impact they have had is invaluable. Coca-Cola has gained a competitive advantage as compared to the other companies in the same industry like Pepsi (De Mooij, 2013). The fact that the Coca-Cola brand meets the needs of all its consumers and has a distinct taste makes it the go-to brand for anyone who thinks of a soft drink. The company has gone ahead to change the packaging of most of its drinks to make them travel-friendly thus increasing sales and consequently customer loyalty (De Mooij, 2013). Unlike the competitors in the industry, CocaCola has a variety of flavors to its range of products, a factor that has enabled the company to meet the diverse needs of its customers. It can, therefore, be concluded that change has been of great benefit to Coca-Cola as any move it makes seems to yield more revenues for the company. One major opportunity that necessitated change is the need to reach out to consumers that do not prefer a high sugar intake. This, Coca-Cola did by adding to its Coke product line a brand that does not have a lot of sugar. As mentioned earlier, they include the diet coke, light and zero zero. By so doing, the company was able to reach out to a market niche since no other company had noticed the gap in the market (De Mooij, 2013). Another opportunity that necessitated change is the strength of the brand (De Mooij, 2013). Since Coca-Cola knew they had a strong brand, they took advantage of this and started producing the Dasani water. The strategy was successful because the already existing loyal soft drinks customers were also the target market for the same. For this reason, success was guaranteed. Innovation Looking at the pricing methodology that Coca-Cola organization took is an appropriate one. It is so since they are organized in a manner to offer its customers value for their cash. The pricing framework is crafted and has its foundation on cost. On the other hand, they are intensely and similarly anchored on demand and competition. As far as research is concerned, we get the chance to understand that the cost of creating a bottle of 18oz Coca-Cola drink is estimated to be $0.05. The organization hardly bases its beverages and soft drinks on customer’s perception and competitive frame of the brand. Along these lines, the evidence of its pricing structure lies determinedly on the cost of Coke bottles in retail shops, where customers must buy a 18oz bottle of Coke for $2.29 and in this manner 12oz container for $1.69 than more than twenty times of its original processing price. Keeping prices low and moving into a new product margin is always a way to stay innovative amongst your competition. Developing a new product, such as the green tea will keep Coca-Cola in their own field as far as a healthier alternative goes. References Bell, L. (2013). The story of Coca-Cola. North Mankato, Minn.: Smart Apple Media. Frey, A. (2014). The effective marketing mix. [Hanover, N.H.]: Amos Tuck School of Business Administration. Nielsen (2015). We are What We Eat: Healthy Eating Trends Around the World. The Nielsen Company, p 2. Retrieved from goo.gl/EiHvTc Noe, R. (2013). Human resource management. New York: McGraw-Hill/Irwin. Pride, W. (2017). Foundations of business. New York: Cengage Learning. Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing communications. Mason, OH: South-Western Cengage Learning. COCA COLA COMPANY Stephanie Kimber MBA-705 September 6, 2017 Executive Summary The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over two hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed Coca Cola in front of all its rivals. The organization’s products are easily identified and recognized by all (Bell, 2013). The popularity of the company has made it an exceptional and unmistakable group. Due to its branding, Coca Cola has been able to do well and grow regarding revenue, a factor that will continue. The profits are key aspects have enhanced its promotion of some of the new products and their advertisements. Coca Cola as it considers the advancement of numerous different items. Multiple aspects of Coca-Cola turn out to be better than that of contenders, from corporate structure to promotional techniques. Some of this entail, implementation plan, positioning and market mix strategy. These perspectives place Coca-Cola way in front of its competitors, instilling hope to the company for higher targets and objectives. It is the organization’s primary goal to refresh and fulfill the world. It is their vision to make their products to be within reach regardless of their geographical positions. Behavioral Analysis of the Company For any organization to do well in its field, it needs to have a clear view of its client’s needs. For Coca-Cola organization to completely have this aspect clearly, they must set out on an exercise to decide the customer’s loyalty, satisfaction, and behavior. Soft beverages, unlike alcoholic, can get categorized under a low involvement group of products. It is because of it's inexpensive to purchase nature and its availability to the clients (Noe, 2013). Recent studies indicate that, lately, for one to buy a soft drink there is an in-depth decision making required. 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. Aside from accentuating on client behavior, consumer satisfaction likewise plays a vital role in deciding on the real revenue-boosting factors offer more priority to a business decision that ends up in customer loyalty. Studies show that the Coca Cola Company has the most exceptional reputation as far as the field of manufacturing of soft drinks is concerned. It was even granted as the fifth best in the section of most recognized bodies in the year 2013 across the globe in which its primary opponent came in at position 10. Statists additionally have it that, the phrase or the name "Coca-Cola" gets searched nearly ten times more than its first rival Pepsi. This statics is as indicated by the Google Trends. Another pointer is through the online networking. Coca-Cola has more than 89.8 million preferences against Pepsi's 34 million likes on their separate fan pages on Facebook. Indeed, even with the brand acknowledgment and high popularity, that the organization shows in the soft drinks industry, Coca-Cola organization still have its undertakings at a reasonable level crosswise over different metrics. Even with consumer-packaged commodities have no services component; most customers still prefer to purchase a package. Along these lines, consumer satisfaction for organizations in this field is an essential determinant of client loyalty. Brand Equity Brand equity or value alludes to a brand's capacity or power extracted from name recognition and most critical of all the goodwill that it has earned after some time. It translates into its business sales shooting up the rooftop consequently encountering higher net revenues against competing brands. Brand equity metrics is vital in that; it is a technique used in determining the value of the brand which incorporates a logo, name and different aspects that recognize an individual item or services (Shimp, 2013). It comes in handy in advertising, packaging, promoting and various types of marketing correspondences focal point of the relationship of the item to the customers. As far as the organization is concerned, somebody may argue out that it is not the organization's beverages that have made it an outstanding brand amongst others across the world. In any case, it is the entire advertising strategies that the firm utilizes which has influenced it to boost its recognition amongst its customers. The organization has likewise pumped resources into modern marketing techniques, for example, supporting and funding huge events, for instance, Coke Studio, Olympic Games, BET, American Idol, NASCAR, NCAA, and the NBA. These are the most watched games and programs over the world subsequently giving Coca-Cola organization a global appearance (Pride, 2017). The organization's growth is because of three fundamentals factors, industry development particularly the non-alcoholic sector is one of the examples. Recent statistics did show that CocaCola boasts of a five percent expansion in its yearly growth. However, the management shows that this sort of development is not uniform in all of all categories and markets since value increment in developing markets has declined in a previous couple of years because of the pressure heaped on proper utilization expenditures (Shimp, 2013). The second driver is the organization's growth in its shares in which it is said to have outflanked the worldwide industry in the thirty back to back quarters consequently gaining global value shares in that specific time allotment. Price realization is the third and last development factor. It is mostly considering value is enhancing cost architecture in which the organization primarily concentrates on expanding the beverage events and not just improving their soft drinks. Marketing Mix The body utilizes a few techniques for its coordinated marketing correspondences. Taking a case of a pattern in the organization's adverts which they give alternate and new information concerning the drink yet at the same time keeping up and emphasizing how incredible the drink is. These approaches get utilized by the Coca-Cola organization include; interactive marketing, direct marketing, advertisements, public relations and social marketing. It is, in this manner, therefore, that the firm makes use of broad category media platforms for purposes of advertisements. These avenues of media entail billboards, commercials and point-ofsale tools which include those merchandising materials that get used for communicating to clients via viz coolers, equipment used to sell their beverages and display racks. Lately, the organization's adverts highlighted on AdAge's incorporated one that got launched in the year 2010 named "The Happiness Machine," and another done in 2008 known as "It Mine." All have been instrumental in fueling “Coke To the side of Life Campaign" to success. Also, Coca Cola Company utilizes the strategy of direct marketing as far as integrating marketing communication is concerned. This approach involves making agreements with clubs and hotels to offer their soft drinks and beverages. Coca-Cola is additionally taking advantage of global sports and games events where they sponsor them hence using their names. With such a strategy, Coca Cola builds on to its customer database. Interactive online networking has also been another channel that the organization has used to reach to most of the clients. Along these lines, they employ the methods of "fans first" technique. By increasing its online networking appearance, the company has been able to obtain more than 91 million likes and followings on their Facebook fan page. The Enterprise played host to a campaign named #CokeGames on Facebook and Instagram in the year 2014. This sort of interactive approaches came into place because of the Olympic Games that were ongoing at that period. They additionally facilitated occasions, like, "CokeCurling" And "Speed Sipping." The organization posted on its Facebook fan page that Speed skating is fun; however, Seep shipping is delightful. With this well-crafted and innovative approach, the company boosted their brand awareness (Frey, 2014). Conclusion Looking at the pricing methodology that Coca-Cola organization took is an appropriate one. It is so since they are organized in a manner to offer its customers value for their cash. The pricing framework is crafted and has its foundation on cost. On the other hand, they are intensely and similarly anchored on demand and competition. As far as research is concerned, we get the chance to understand that the cost of creating a bottle of 18oz Coca-Cola drink is estimated to be $0.05. The organization hardly bases its beverages and soft drinks on customer’s perception and competitive frame of the brand. Along these lines, the evidence of its pricing structure lies determinedly on the cost of Coke bottles in retail shops, where customers must buy a 18oz bottle of Coke for $2.29 and in this manner 12oz container for $1.69 than more than twenty times of its original processing price. References Bell, L. (2013). The story of Coca-Cola. North Mankato, Minn.: Smart Apple Media. Frey, A. (2014). The effective marketing mix. [Hanover, N.H.]: Amos Tuck School of Business Administration. Noe, R. (2013). Human resource management. New York: McGraw-Hill/Irwin. Pride, W. (2017). Foundations of business. New York: Cengage Learning. Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing communications. Mason, OH: South-Western Cengage Learning. Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing communications. Mason, OH: South-Western Cengage Learning.
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