New Product Launch

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Business Finance

Description

Purpose of Assignment

Understanding the various phases of a product or service lifecycle is critical when addressing a market. If your product is in decline and the competitor's product is in growth, your strategy for the product or service will be different. This exercise will enable students to demonstrate an understanding of both their product/service life cycle stage and a competitor's product. It is designed to help students explore product mix strategies in the various phases of a product or service life cycle. This tool is critical when addressing a market penetration, market saturation or product/service decline.

Assignment Steps

Resource/ Company Information: Coca Cola and Pepsi

Design a minimum 1,250-word New or Product Refresh Product Launch Plan in Microsoft® Word. The product launch plan will be for two markets: U.S. and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S. than your other market is required to be the U.S. Compare your product/service to at least one other competitor. The competitor does not need to be in both markets, you can have two different competitors, one for each market.

Include the following:

  • Brief SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external market--Threats, Opportunities, Weakness, Strength).
  • A graph or chart Include two of the following:
  • Definition of product or service.
  • Description of product or service--marketing message.
  • Why the product or service needs to be introduced or refreshed (target audience).
  • Address competition in each region and how the new product or refresh provides a competitive advantage.
  • Evaluate the potential growth rate. Look for information on similar products/services to determine a 3 year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library.Note: Charts/graphs/tables do not count toward the word count.Cite a minimum of three peer-reviewed references.Format your assignment consistent with APA guidelines.

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Explanation & Answer

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Running head: NEW PRODUCT LAUNCH

New Product Launch
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NEW PRODUCT LAUNCH

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New Product Launch

The Coca Cola Company has over history become one of the most integral organizations
in America’s, and indeed, the world’s fast-moving consumer goods sector. Consumer packaged
products are those that are sold at fast rates and at comparatively low cost (Anandarajan, 2016).
They are also referenced as fast-moving consumer products. Products in this category consists
virtually all consumables, excluding pulses and groceries, which people buy at consistent
intervals.
This Product Refresh Product Launch Plan seeks to refresh the mid-calorie Coca-Cola
Life beverage that is included in the company’s target to reinvigorate the sales of its soft drinks.
In essence, the company demonstrated confidence that a refreshing of the Coca-Cola Life drink
will help in the restoration of the growth in volume and sales of the Coca-Cola drinks portfolio.
In particular, this refresh will advance the company’s whole carbonated soft drink class that
faces intense pressure by the consumer trend to turn away from sugary beverages in favor of
healthier products. Coca-Cola Life will appeal to the company’s consumers who still pursue the
classic Coke taste while also preserving their health considerations. This refresh is initially
targeted at the U.S. market and the Australian market. This re-launch plan is focused on
differentiating Coca Cola from its competitors and encompasses data on market research
regarding the contemporary business and market situations, information about the competition
(Corallo, Angelo; Latino, Maria Elena; Lazoi, Mariangela; Lettera, Serena; Marra, Manuela;
Verardi, Sabrina, 2013). It further consists particular actions and strategies ...


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