Milestone 1

User Generated

wuheyrl

Business Finance

Description

The company I have is the Pepple product from the previous course I took (I will attached the final paper from my previous course as a refresher, in case you forget!) For this milestone, submit the Background Information portion of the final project (Section I), describing the company and business product, service, or other idea from the business plan you developed in MBA 560: Marketing and Strategy.

Specifically, the following critical elements must be addressed:

Concisely describe the company, its service or product, and business idea. Include the company’s publicly traded name and stock symbol if these exist.

Identify the target stakeholders and their relationship to the mission, vision, and values of the company.

Rubric Guidelines for Submission: Your paper must be submitted as a 2-4-page Microsoft Word document with double spacing, 12-point Times New Roman font, one inch margins, and sources cited in APA format.

Unformatted Attachment Preview

Running head: COKE’S PEPPLE DETOX JUICE 1 Coke’s Pepple Detox Juice Jaclyn Hurley Southern New Hampshire University 6/25/2018 COKE’S PEPPLE DETOX JUICE 2 I. Executive Summary Despite the existence of other juices in the market, the company has to strategize on the issue of pricing the brand product. It could consider competitive pricing strategy by setting prices based on the rates of the opponents and the current market. Although the market is very competitive, the company should consider establishing a higher price than the competitors because the brand is worth. Since the firm is well known to many consumers, they could find it easy to purchase from Coca-Cola and thus to give it an opportunity to capture a considerable market share despite the existence of several juice brands in the market. In the beginning, the company could set a higher price than its opponents since the supply of the Pepple Detox Juice will be low in the market and the demand is expected to be too high (Wickford, 2018). But with time, the product will be in the market, and thus, demand declines and customers might not be ready to pay the set price. Due to decline in order, the company could consider setting comparatively stable costs over time and device a promotion mechanism when needed. Other juices and even some Coke brand juices are still in the market and have some the components for the proposed juice. The consumers must experience the new Coke juice brand. Since all the ingredients exist in the market, it will be a better option for the company to blend them into one juice, Pepple Detox Juice. Blending will help to put several components together easily because sources are readily available. The existence of other brands in the market will facilitate faster marketing of Pepple Detox Juice translating to high returns. It will be easy for the company to corporate the labor force and use minimized budget to manufacture the new product. With all available resources and expertise COKE’S PEPPLE DETOX JUICE 3 in juice production, the firm will easily derive a desirable formula for the product. A desirable characteristic equals to consumers willing to buy the product. II. Context Coke products are known for various benefits like easy of digestion due to gastric acid in the fizzy drinks, acts like brain stimulant, increases energy and can help to eradicate nausea (Walker, 2018). Nonetheless, in the recent past, people keenly investigate what they put in their bodies. They try to avoid the sugared commodities to prevent health complications. The concern for good health yielded to less consumption of Coke product translating to massive losses. People avoid consuming taking some of Coke's product because of the added sugars during the preparation and processing of the soda. When these excess sugars enter into our bodies through coke consumption, the body converts the sugars into energy, and if the heat is not consumed, it is converted into fats. The excessive use of sugar creates several health risks like high blood pressure, heart diseases, obesity, smaller brain and lowered memory capacity, cancer, damages to blood vessels as well as type 2 diabetes and stroke. Now that people are running away from Coke, it is high time for the company to add a blended detoxifier purely extracted from apple and pear fruits juices. Even though the composition of Apple and Pear is sugary, there is every reason to consume it because it contains antioxidants (Recipes & Corner, n.d.). Scientists have proved that Apple has a polyphenol content that increases its anti-oxidation capabilities. It also boosts lipid metabolism, and aids in cholesterol absorption and can minimize chances of cancer infections. On the other hand, pear fruit and juice is known for its nutritional and medicinal capabilities. Pear juice has both sugar and organic acid suitable for human consumption. For example, the low glycemic load means the carbohydrates contents are converted into sugars slowly. Phenolic acid promotes COKE’S PEPPLE DETOX JUICE 4 faster food digestion, softens the blood vessels and lowers the cholesterol content in the body. The soluble Pectin fiber impasses into fatty substances and helps lower cholesterol levels too and reduce the risk of heart disease and cancer also. Most importantly pear juice is rich in Vitamin C essential agent of anti-oxidant which promotes healthy body metabolism and help to repair tissue and prevent any severe impairment. With these two types of fruits, Coca-Cola can help to retain its market share and creating a new soft drink, Pepple Detox. The new product, Pepple Detox will bring joy to the company in that most people will start buying the new product. The product will be sold to everybody because health issues currently cut across all ages, from youngsters to the old people. It will help people to detoxify their bodies while enjoying and refreshing themselves. The blended coke’s detox, Pepple detox will be significant in health and agricultural sector as the farmers will be tasked supplying more pears and apples to the Coke’s processing plants to manufacture Pepple Detox and meet the rising demand of the consumers. The new brand, the Pepple Detox juice will be characterized by high natural mineral elements like Potassium, Magnesium, Calcium, and sodium (Essa & Salama, 2002). These elements are essential for proper muscle and nerve functionalities, keeping the heart in good health. It aids in water regulation in the body and electrolyte levels hence maintaining protein and carbohydrate metabolism. Other components of the Pepple Detox juice will include polyphenol content that increases good for anti-oxidation, good lipids metabolism, and aids in cholesterol absorption and can minimize chances of cancer infections (Essa & Salama, 2002). These desirable characteristics of the Pepple detox juice are appealing to everybody, and it will rain dollars upon market penetration. COKE’S PEPPLE DETOX JUICE 5 III. Need To market the new brand juice, the company need to deploy different strategies for marketing, both internal and external strategies. This could include advertisement and promotion, the company could use its unique marketing strategy by formulating an outstanding message to create awareness to the target market segment. To certify brand usage, Coca-Cola would use direct distribution, advertising, and even collaborative engagements with the brand to motivate and remind consumers about the existence of Pepple Detox Juice. The company could also be keen on packaging graphics and visual identity systems, VIS (Company and Moye, 2017). The packaging design the Pepple Detox Juice should have an appealing appearance of the brand. Other forms of marketing to consider could be deploying four Ps of marketing, product, price, place, and promotion. Now that the brand, the product was ready, the marketing team could further gather more information from the customers regarding the improvement of the product. For the price, the company could ensure even though their price is a bit higher than that of regular juices, it is also reasonable to every customer. To identify the most convenient client is the most vital marketing strategy that could be used by the corporate. Since Pepple Detox Juice will be rich in nutrient, vitamin C and other natural minerals like Potassium, Magnesium and Calcium that aid in the good flow of blood in the vessels and prevent chronic diseases regulates heart activities, it will better if they could target on general consumers and but emphasize on people with chronic diseases. Finally, the company could focus on promoting the brand either through the social media or holding camps to create awareness about the existence of the Pepple Detox Juice After design, a product, the next step a corporate embarks on, is the target market. An COKE’S PEPPLE DETOX JUICE 6 excellent choice of the target market translates to a lucrative return. For the Pepple Detox Juice, the company chose a niche of the market to be the youth active in social media (Jaekel, n.d.) and mothers who do most of the shopping for their families. Through the social media, the company will manage to reach broad clients, mostly youths, youths and young adults who spend most of their time on social media platforms. The company will target youth demographics and the content developed by the advertisement team suit every single channel. The promotion strategy should be somehow comedic because it encourages customers to set a part-time to be idle and enjoy being on the social media platforms. Since the Pepple Detox Juice targets customers who spend time on the internet, the promotion team could channel their marketing skills to them and show them how the best is the new brand. They could upload video clips on social media like Facebook, Twitter, Instagram and all other channels and the youth would watch them, like and buy the product and make referrals to their friends and parents. That the best way to describe the target market for the brand is that, say that they are youth who are more energetic, like experiencing new thing and ideas, spends some of their time on social media, and are very interactive. Thus making the product well known readily over the shortest period. This is the best target group for the company because the other market segments, like the aged people, might be reluctant to purchase the Pepple Detox Juice in the claim that it’s just juice like any other. Youths are very significant and influential customer to the entrance of the new product. If the product promoters can learn their psychological and behavioral characteristics, it could be straightforward to capture a considerable market share on the market entrance. They acutely perceive things differently, and their behavior changes as well. Most of them actively participate in sports and that they need a lot of energy to remain active (Trott, n.d.). And since Pepple Detox COKE’S PEPPLE DETOX JUICE 7 Juice is rich in nutrients, it therefore good to target them. They also have different demographic behavior, socio-economic characteristics. The target market for this brand is actively involved in various activities, and thus they need a lot of energy to carry on their duties and to grow as well making it an excellent venue for the marketing team to concentrate on them with a guarantee of success into the market. The goal of any company to produce a new product is to meet the needs of the target market segment as well as making profits out of it. Pepple Detox Juice has filled the gap of their relevant consumers by ensuring that they benefit from improved nutrients and composition of the product. The juice will be manufactured in high processing standards making it more suitable for consumption by human life (Vale, 2014). The composition of the juice also makes it more ideal for the people who are health conscious in that it has a polyphenol content that increases its antioxidation capabilities. It also boosts lipid metabolism, and aids in cholesterol absorption and can minimize chances of cancer infections. This altogether improves standards of livings due to its authenticity, naturally produced and genuinely produced. Hence the product has closed the gap that was in the market for diehard Coca-Cola consumers who wished to have a blend of Detox juice from the company. The success of any product to the market depends on the choice of the target market, the characteristics, needs and wants of the market segment. The success of the Pepple Detox Juice is attributed to the fact that there is a readily available market and the channels of marketing are available making it possible for the product to flourish in the market. The presence of social media will contribute a lot toward the success of Pepple Detox Juice because the information and marketing will be posted to the press and available to target consumer to view it and make the immediate action. These actions could be going to buy the juice or passing the information to the COKE’S PEPPLE DETOX JUICE 8 friends. And in most cases, if the data is delivered to the mothers, then they could include the juice on their shopping list since they do most of the shopping in the house. Based on prevailing market prices of the juice the target market for the Pepple Detox Juice are not willing to pay the Company the proposed cost because they think that Coca-Cola brand is overcharging them. For example, the current price is $4.29 for a bottle of 52 oz which is as twice as the regular juice costing $2 for b4 oz bottle. If the amount is reduced, the customers would be more than willing to purchase the new product in the market. IV. Strengths and Weaknesses Consumers will receive the introduction of Pepple detox juice in the market in different perspectives. Some customers will entirely be against the juice brand while a large number of customers will embrace the idea. Therefore the brand strengths and weaknesses will purely be derived from consumer’s comments as well as the marketing team ideologies. Some of the forces for Pepple detox included but not limited to; it used the Coke’s distribution channels (Bechtel, 2018). During the marketing of this brand, the distribution group will use Coca-Cola’s channels of distribution. For example, social media platform, most of the advertisement and promotions through media where the target consumers are readily available. The information about the milk spread quickly because of the awareness and knowledge was open. The use of internet shall facilitate brand recognition because most of the youth spend time on media platforms like Twitter, Facebook, Instagram and other platform and they surf the web, they could come up with the Pepple detox juice adverts and spread the information or to buy the juice by themselves. Thus the availability of Coca-Cola’s distribution channel significantly boosts the marketing of Pepple detox juice in the market. COKE’S PEPPLE DETOX JUICE 9 Another strength of the brand is its composition. The new juice, the Pepple Detox juice will be characterized by high natural mineral elements like Potassium, Magnesium, Calcium, and sodium (Essa & Salama, 2002). These elements are essential for proper muscle and nerve functionalities, keeping the heart in good health. Aids in water regulation in the body and electrolyte levels hence maintaining protein and carbohydrate metabolism. Other components of the Pepple Detox juice will include polyphenol content that increases good for anti-oxidation, good lipids metabolism, and aids in cholesterol absorption and can minimize chances of cancer infections. These desirable characteristics of the Pepple detox juice are appealing to everybody. Hence the company shall realize profits if the product penetrates the market. Therefore, individuals with health complications and especially those suffering from chronic diseases can take this juice to boost their immunity. Although the other extracts contain the Pepple’s contents, it will be economical for the buyers to go the detox because it’s one product packaged with all elements. Buying the blended juice will be advantageous than going for each juice. These components will purely be natural, and no supplement added, and thus this juice will exclusively be made from raw fruit juices, Apple and Pear juices with advanced processing methodologies. During the processing period, the excessive sugar contents should be removed from the juice mixture leaving it with low sugar content. With increasing concern for health issues, people consider consuming low sugar products with medicinal elementary. For good health and refreshing moments, people and especially youths and women would prefer Pepple Detox juice for its appealing ingredients. It is for this reason that the juice will be embraced in the market by the target market because it addresses health needs besides refreshing the body. The other strengths of the Pepple Detox are that it has a shelf life, friendly to the environment and responsible for farming practices (Bechtel, 2018). The long shelf life makes the blended COKE’S PEPPLE DETOX JUICE 10 juice different from the known juices, and thus, the target consumers would prefer it to the normal one. The juice is friendly to the environment, manufactured from sustainable processing plants with modern mechanisms. This promotes more production of the juice and with the assurance that, the customers are satisfied and are willing to consume the juice. More outputs translate into profits and company growth. In contrary, the blended juice, Pepple Detox juice has its weaknesses in the market, for example, Coca-Cola is already into the juice business. Some consumers might tend to believe that the company is competing with itself. Most of the people especially laggards could not think in Pepple Detox because they thought it was just as good as the regular juice. However, this should not bar the company from pursuing its goal of closing the gap in the detox production, advanced organic beverages. The other weakness and a significant challenge of Pepple detox would be the higher prices than the competitor’s set costs. In marketing and production, pricing is a critical factor in determining the success or profit of a commodity. Although the prices might be too high, nearly as twice as that of regular juice, consumers will be willing to buy the detox. This shall be after persuading them through promotions and advertisement which again would cost the company some dollars (Seward et al., 2015). After learning the worth of the juice, consumers will shift from ordinary juice to the blended Pear Apple juice. The idea of Pepple is suggested to close the gap between Coca-Cola and advanced organic products manufacturing. Nevertheless, there were other opportunities which will aid in Pepple production. These opportunities include the perception of brand loyalty from Coke consumers (Watson, 2017). The company is guaranteed that it would enjoy brand loyalty from the loyal customers, that is, branding Pepple Detox juice as a Coca-Cola product will attract clients. The COKE’S PEPPLE DETOX JUICE 11 other opportunity was health concerns by the Coke’s Soda consumers. Due to increased health complications, there is decreased Soda drinkers and lactose intolerant market. The reduced number of soda consumers creates a way to produce Coke Diet and other Coke’s products, but all could not satisfy their consumer need. Thus, the company resolved to venture into milk production and devised a way of coming up with low sugar products and lactose-free milk due to lactose intolerant market. This is not enough; the company must produce a blended juice rich in anti-oxidants to help the consumers in detoxification. The health action trend is therefore, a significant opportunity to secure a market share in advanced organic production by coke by ensuring that the Pepple detox Juice is nutritious and contain medicinal elements to some known chronic diseases. The other opportunity that led to the production of Pepple Detox was the urge to provide the customers with blended organic product. The proposed juice is premium because it is nutritious and organically manufactured by blending two products. The ingredients of the juice are purely natural and high standard processing mechanisms (Peterson, 2015). The company treasures in this premium product because it is promising to the consumers and most likely to rainy money shortly after market penetration. The Coca-Cola Company must conduct enough research on the current juice production, and usually, the prices of regular juice are increasing. The costs of regular juice are rising thus low supply of the fruits in the processing plant and high demands in the market (Gertner & Rifkin, 2017). The costs of juice in the market acts as an opportunity for Coca-Cola to invent an exceptional blended juice brand to compete with other juice producers. Besides competition, the company will be closing the gap in health concerns by ensuring that the new juice has medicinal components. After consolidating with the fruits suppliers, the price must be set higher than that COKE’S PEPPLE DETOX JUICE 12 of regular juice because of its worthiness. Customers will be willing to pay the set price since the detox has desirable ingredients. And finally, is the environmental awareness, the company operates in an environmentally friendly. This makes the consumers trust in Pepple Detox juice because it is made purely from public resources, no supplement addition, and processing is done more elaborately. The environment favors the consumer health and wellbeing of everybody involved in juice production. The likely threats in the production of Pepple Detox Juice are competition. There shall be stiff competition from opponents. The prices sets are too high, and the consumers might decide to go for the low priced juices ignoring the health factor. The detox marketing strategies in the juice industry may differ from how Coca-Cola distributes its and brands its products thus making it difficult for the company to retain its market share because of consumer perceptions, tastes, and preferences. Therefore, competition is the most significant threat to the success of Pepple Detox juice. The other threat could be, if the Pepple Detox penetrates the market, the demand might exceed supply. This is most likely to happen since the product is new in the market and more appealing to a wide range of consumers (Company et al., 2016). Upon reaching awareness of the product, many consumers might flood into the market to quench their queue by purchasing the Coca-Cola blended juice, Pepple Detox. This might be a significant challenge as the company might strain its resources trying to reach the overwhelming customer demands. Finally, the sale of regular juice might decline because of introducing an exceptional detox juice product by Coca-Cola. Generally, the strengths, weakness, opportunities, and threats and ethics factors associated with the introduction of Pepple Detox are the core reason for the opening of the blended juice COKE’S PEPPLE DETOX JUICE 13 brand. However, the weaknesses and threats might intimidate, the strengths and opportunities are overwhelming and thus making it possible for the company to retain its market share in juice production. Health complication is a significant contributor to the production, distribution, branding, and adoption of the Pepple Detox juice. V. Core Competencies The corporate’s core competencies need to clear understanding. Pepple Detox juice is a Coca-Cola blended juice brand that provides premium detoxifying juice to its customers. The high-value detox juice attracts higher costs than competitors, a challenge to be overcome. Since the blended juice brand competes with other renowned products, it has to maximize on Coke’s strategy and the current market opportunity to outweigh the competitors. Some of these core competencies are; maximum technological exploitation, by this the presence of the company in social media gives it an opportunity to beat their competitor. The firm enjoys advertising and marketing through social media because it is known globally and most people are on the internet (Millington et al., 2018). This practical use of various mediums would much affect the sale of Pepple Detox milk. Technology also involves packaging, and for this, the company uses portable packaging bottles suitable for the consumers. Government regulations affect the growth of a product significantly. Coca-Cola observes the Food and Drug Administration, FDA act which regulates non-alcoholic beverage. Therefore, it stands a chance to compete with fewer efforts compared to some new entrant firms in the market. Failure to meet the FDA standards may subject the company to huge fines hence collapsing. Most of the companies fail to extend their marketing to different nations because the FDA might differ posing the company to risks of being fined (Company et al., 2016). Therefore, soft drink companies rely on governmental regulations such as FDA, taxation and environmental law. COKE’S PEPPLE DETOX JUICE 14 Since Coca-Cola is well established and meets all of these political factors without straining its resources, it has an opportunity to beat the competitors. Other political issues are the various human rights in different states like the waste management system which many nations are very keen on, and Coca-Cola is smart at this thus entering emerging and developing a market like advanced organic production sector is elementary. Ability to cope with alternating economic stability. The hard-economic times have significant challenges in many industries including the soft drink companies. For example, the economic recession in 2008 saw most of the consumers spending less money on unnecessary items like soft drinks. As a result, the Coca-Cola Company saw this as an opportunity started the journey to venture into blended organic products giving rise to Pepple Detox juice (Gertner & Rifkin, 2017). On the economic matters, the cost of imports, exports and exchange rates also determine the global existence of the company. Coke Company can adjust to these trends and outweigh the new market entrants in the soft drink production. The fluctuations in the cost of raw material is another determinant to the success of the output of any product. Pepple Detox juice must partner with farmers and support them in fruits productions to ensure there is steady supply the fruits as a fresh product. This makes the company retain a constant price. In summary, the successful penetration of Pepple Detox juice into the market and retaining market share largely depends on available opportunities, strengths, and the company’s core competencies. Raw material from the renowned fruits farmers, Apple and Pear fruits producers and advanced processing method in the Coca-Cola Company will significantly contribute to the growth of Pepple Detox juice. The available market and the people emerging concern for their health is also another critical factor to the success of Pepple Detox juice. And finally is the worldwide existence of the Coca-Cola Company and good marketing and distribution channels. COKE’S PEPPLE DETOX JUICE 15 VI. Pricing Packaging and good taste of Pepple Detox Juice are variable costs. These are direct supplements of the Coca-Cola production can be identified directly from the description of variable costs which is the expenses that change in proportion to the activity of a business. The sweeteners and packaging are the. They vary depending on the production volume; for example, they rise as production increases and fall as production decreases. Variable costs differ from fixed costs as fixed costs remain the same despite production output (Harris, 2014). Contribution margin can be defined as sales revenue minus variable expenses. This is the amount of revenue that is available to contribute to covering fixed expenses after all variable expenses have been covered. Warehouse $1.5m Shipping $3m $1.5m Variable cost Packaging Variable Sweeteners variable Workers Variable The customers are willing to spend more on the Pepple Detox Juice provided it meets their preferences and ethically manufactured. Three customers conducted a taste on Pepple Detox COKE’S PEPPLE DETOX JUICE 16 Juice, and they all agreed that they could be willing to spend some extra coins on the brand provided it does not violate the ethics. Pricing of Pepple Detox Juice utilizes a licensing framework. Generation and promotion are taken care of by Select Pepple Detox Producers. Brands are progressively running the product engaged promotions that look to depict products as real and common. Presently Coca-Cola is featuring supportability alongside dietary esteem. Pepple Detox Juice national normal cost will be between $4.29 for a 52 oz. bottle. This will be over double the cost of traditional soft drinks and marginally more than what the competitors sell in the market. VII. Refinement A significant milestone of a company is active new product development. Some conditions exist for a company to add a new product to its portfolio. For example, the introduction of Pepple Detox juice is activated by the raising of health complications (Cooper, 1990). Financial implications of the new product can help Coca-Cola to mitigates the stranded growth and boost its profitability of the existing products that near to maturity stage of the product lifecycle (Ghodeswar, 2008). The new product development, Coke’s Pepple Detox juice, will be a potential source of significant economies of scale for the corporate. The company may use existing production strategies to perfect the new product development hence, lowering the cost of manufacturing. Firm organizational guidelines help effective development and evaluation of the new product (Guivarch & Hallegatte, 2012). Direct communication with the clients serves as a foundation for the portfolio extension. The information gathered from the customers serves as an insight into the new product and influences all aspects of the marketing mix such as pricing, distribution, promotion, and place of production. New product development in most firms is a complicated and composite development. It involves risk-taking, a capital investment with no COKE’S PEPPLE DETOX JUICE 17 guarantee of success (Pitta, 2007). The complexity of new product development is not easy to manage for most of companies and Coca-Cola is not an exception to this menace. The process is dispersed and integrated and inclusive of all stakeholders, customers, competitors, technology, and suppliers. During opportunity identification and idea inception (Pitta, 2007). This is the first step which determines the success of penetration of a new product and its branding. The new product development process relies on the information gathered from the consumer needs and wants (Cooper, 1990). For Detox juice, I will consider the rising consumer health complication and the declining fizzy drinks. This forms a product idea and desired customer needs. Additionally, I will review the suppliers and other relevant sources (Ghodeswar, 2008). At this phase of product development, the development team should market the product idea to capture the real concepts from the target consumers and employees and maintain the excellent communication throughout the development lifecycle. Idea identification and conceptualization are not clear at first because consumer needs and wants keep on alternating. Thus, intensive data collection mechanism will be deployed to ensure that the branding of the Pepple Detox juice suits consumer desires (Lester, 1998). Several phases will be included in data collection to capture the important and untold customer needs. These phases include experiential interviews with the target consumers that involves one-on-one interviews. The individual customers giving the finer details of the proposed product to guide the team in branding and marketing resulting in the product acceptance and sustainability. After data collection comes definition of the underlying meanings and values (Guivarch & Hallegatte, 2012). This phase involves reasoning why a customer would wish to have Pepple Detox as a supplement for Coke drinks. Defining the underlying values will aid in developing and designing COKE’S PEPPLE DETOX JUICE 18 a perfect formula to fit their needs. The other phase in line is designing emphatically and observing user patterns and behaviors. Observation of the consumers in their respective habitats aid in gaining the information that might lack during data collection and design. After information gathering is product concept development, dealing with the data collected from the coke consumers about the proposed product. The Pepple Detox Juice development team will implement the practical concepts ignoring the absurd suggestions. In this, the evaluation will be done depending on the feasibility of the ideas. If the study is proven feasible, then the development should proceed to release the first prototype to consumers (Cooper, 1990). The prevailing notion is selected from a pool of concepts and embark on developing the Pepple Detox. Concept testing shall follow development and evaluation of more new product opportunities. Here the development team shall start on the actualization of the concept into the Pepple Detox juice. The product should match the demands of the customers. The juice extra should be well processed to ensure that the anti-oxidation agents are maintained to serve the intended purpose. The screening of ideas shall be done with the potential consumer using both qualitative and quantitative methodologies. Finally, an evaluation of the success of Pepple Detox juice is developing prototypes and testing. Prototype development and testing is the last stage of any of the new product development. The main objective of the samples is to evaluate the set and engineered idea to predict the project success probability (Urban & Katz, 1983). Testing is required done to ascertain the effectiveness of the Detox juice to the consumers. The results variables will be compared and adjustment made to fully fit the current market demands. The success of this new product and sustainability in the market will depend on various factors. For example, implementation of daily business feedback loops and procedures such as COKE’S PEPPLE DETOX JUICE 19 regular customer interviews. The development team will interview the prospective and existing customer to get more information about the experience with the Pepple detox juice. The feed backs from different clients will enable the development team to know whether the consumers are satisfied or not and work on improving the product. In this scenario, the interviews will be used to suggest the future iteration of the Detox Juice. The other methodology would be the creation of feedback forums. This helps the customers to talk about feedback concepts, report any problem and interact with the development team. In these forums, the marketing teams and the consumers will involve in the following activities, customer support, marketing, team building and general discussion about the Detox Juice. The marketing team can use these opportunities in the forums to promote the Juice. The feedback will be summarized to be used by the product development team for product enhancement. Feed backs can also come from the sales teams and agents because they interact with the potential decision makers, buyers of the Pepple Detox Juice in the market. The sales channels will then communicate what hear from the customers on regular bases to the product team. The data might be erroneous since it is taken from the decision makers, not the real end users, thus, appropriate analyses are required before communicating to the squad. The other two sources of feedback will be the employees and the social media platforms. An employee can suggest additional information since they interact with the product on daily basis. The social media audience is another source feedback. However, the customer just leaves their feedback on social platforms and thus the development team will have to engage them at some point to get the view about the Detox Juice precisely. Long-term objects are the core value of a successful development of a new product intending to penetrate and retain its market share. For the success of Coke’s Pepple Detox Juice, I would COKE’S PEPPLE DETOX JUICE 20 consider the communication channels are always effective. Communication facilitates easy flow of information from the customers to the development squad. This shall aid in capturing all the desired features of the product, Detox Juice. Hence curbing the consumers’ health complication and satisfying their desires. The other thing would be the method of manufacturing and the distribution channels. These are vital to the success of the Pepple Detox because the processing plant should be maintained to produce the desired production level to meet the consumer demands. On the other hand, the distribution channels should be in place to ensure the produced juice is delivered to the customers at the right time. COKE’S PEPPLE DETOX JUICE 21 References 1.) Bragg, S. M. (2016). Cost accounting fundamentals: Essential concepts and examples. 2.) Cooper, R. (1990). Stage-gate systems: A new tool for managing new products. Business Horizons, 33(3), 50. 3.) Code of Ethics - Strategic and Competitive Intelligence Professionals (SCIP). (2017). Retrieved from https://www.scip.org/page/CodeofEthics? 4.) Guivarch, C., & Hallegatte, S. (2012). 2C or Not 2C?. SSRN Electronic Journal. , 6 5.) Ghodeswar, B. (2008). Building brand identity in competitive markets: a conceptual model. Journal of Product & Brand Management, 17(1). 6.) Gutman, J. (1982). A Means-End Chain Model Based on Consumer Categorization Processes. Journal of Marketing 7.) Gertner, D., & Rifkin, L. (2017). Coca-Cola and the Fight against the Global Obesity Epidemic. Thunderbird International Business Review, 60(2), 161-173. doi: 10.1002/tie.21888 8.) Essa, H., & Salama, M. (2002). Effect of macerate enzymes on the yield, quality, volatile compounds and rheological property of prickly pear juice. Nahrung/Food, 46(4), 245. doi: 10.1002/1521-3803(20020701)46:43.0.co;2-i 9.) Harris, C. (2014). Fixed and variable costs: Theory and practice in electricity. 10.) Hartogh, M. (2002). It's Still the Real Thing: A Profile of the Coca-Cola Company. SSRN Electronic Journal. doi: 10.2139/ssrn.1030577 11.) Jaekel, B. TBS' largest-ever social campaign spoofs common tropes | Mobile Marketer. Retrieved from https://www.mobilemarketer.com/ex/mobilemarketer/cms/news/socialnetworks/22956.html 12.) Lester, D. (1998). Critical Success Factors for New Product Development. ResearchTechnology Management, 41(1), 38. 13.) Millington, A., Hobbs, T., Joseph, S., Parsons, R., Bacon, J., & Woollen, P. et al. (2018). Coca-Cola tapping into high-protein product trend with new product - Marketing Week. 14.) Pitta, D. (2007). Selection as a new product development process: the case of Vertical Branding, Inc. Journal Of Product & Brand Management, 16(6), 434. COKE’S PEPPLE DETOX JUICE 22 15.) Recipes, A., & Corner, H. Cloudy Apple Pear Juice. Retrieved from https://www.happyfoodstube.com/cloudy-apple-pear-juice/ 16.) Rekhi, S. (2016). Designing Your Product’s Continuous Feedback Loop – Sachin Rekhi – Medium. Retrieved from https://medium.com/@sachinrekhi/designing-your-productscontinuous-feedback-loop-4a7bb31141fe 17.) Seward, R., Erwine, S., Cadwallader, D., T., L., Klein, K., & Waller, M. et al. (2015). The truth about Coke, new-product. Retrieved from http://www.newproduct.com 18.) Trott, O. Behavioral & Psychographic Segmentation: How To Develop Buyer Personas. Retrieved from https://medium.com/data-dump/behavioral-psychographic-segmentation-how-todevelop-buyer-personas-17498dde968f 20.) Urban, G., & Katz, G. (1983). Pre-Test-Market Models: Validation and Managerial Implications. Journal of Marketing Research, 210. 21.) Vale, J. (2014). Super juice me!: 28-day juice plan 22.) Walker, E. (2018). The surprising health benefits of drinking Coca-Cola. Retrieved from http://home.bt.com/lifestyle/health/healthy-eating/surprising-health-benefits-of-coca-cola11364003752974 23.) We Tried Coca-Cola's New "Premium" Juices So You Don't Have To. (2018). Retrieved from https://www.buzzfeed.com/rachelysanders/Pepple Detox Juice-milk-tastetest?utm_term=.fk6dA3le3#.liz8EJOlJ 24.) Wickford, H. (2018). Factors Influencing Pricing Strategy. Retrieved from http://smallbusiness.chron.com/factors-influencing-pricing-strategy-54489.html
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Running head: COCA-COLA COMPANY BACKGROUND

Coca-Cola Company Background
Student’s Name
Institution
Date

1

COCA-COLA COMPANY BACKGROUND

2

Background
Coca-cola Company was founded back in the year 1886 and it is not until the fifth of
September 1919 that it was amalgamated to become a beverage company. The main
operational line of the company is non- alcoholic drinks, in other words, the soft drinks. It
owns up to five hundred brands of this non-alcoholic drinks which it licenses and markets.
Moreover, the company has beverage products such as coffee, ready to drink tea, juice,
minute maid drinks among others. Its products are available all over the world (Geisst, 2016).
The company has a market niche of over two hundred countries all over the world. ...


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