Mkt Plan For Coke Product Essay, Research Paper
A pharmacist named Dr. John Stith Pemberton invented the refreshing taste of Coca-Cola in 1886. Concocted by a mixture of caramel-colored syrup in a three-legged brass kettle while in his backyard. He then decided to try to market the drink at Jacobs Pharmacy in his hometown of Atlanta, Georgia. For five-cents, customers were able to enjoy a glass from the soda fountain. An average of nine drinks were sold a day.
In 1891 Dr. John Stith Pemberton sold Coca-Cola for 2,300 to an entrepreneur named Asa G. Candler. Within the next four years Coca-Cola was distributed throughout the whole nation. 1893 the Cola-cola trademark and script were patented. The two C s were though to look well for advertising . In 1899 large-scale bottling becomes possible when Asa Candler grants Joseph B. Whitehead and Benjamin F. Thomas exclusive rights for one dollar. But in 1919 Coca-Cola was sold for $25million to a banker in Atlanta name Ernest Woodruff and a group of investors.
That same year, Coca-Cola sold its first share of stock for forty dollars a share. Assuming all dividends were reinvested, those original shares would have been worth approximately $6.7 million at the end of 1998.
1955 marked an exciting year for Coca-Cola the ten, twelve, and twenty six ounce, king and family size bottles are introduced into the market having instantaneous success. Another triumphant marketing ploy was done in 1960 when metal cans are available in supermarket s everywhere.
1986 marked the 100th year anniversary of the company, two of the United States largest bottlers combine and form Coca-Cola Enterprises. By 1998 the sales of Coca-Cola and other company products exceed over one billion servings a day.
Coca-Cola has reached the new millennium marking over one hundred years of gratified customers. It has more then sixteen million customers around the world that sell or serves its products directly to consumers.
There are nearly six billion people in the world who are potential customers. Our mission to success depends on satisfying the beverage consumption and to add value for the customers.
This is achieved when we place the right products in the right markets at the right time. In order to achieve such a mission we had to create value for all the constituents that we serve. Including consumer, consumer and bottlers.
Coca-Cola created value by fulfilling an extensive business strategy guided by six key beliefs.
1. Consumers demand driver everything we do.
2. Brand Coca-Cola the core of business.
3. Serve consumer a broad selection of nonalcoholic ready-to-drink beverages they want to drink throughout the day.
4. Be the best marketers in the world.
5. Think and act locally.
6. Lead as a model corporate citizen.
So at the turn the century when Coca-Cola noticed that its market shares were dropping and the sales of cola products were also decreasing they knew something had to be done. A question survey was sent out to over 15,000 people nationally along with a survey connected to our website requesting information on what our consumers were looking for in a rejuvenating drink.
To our surprise the consumers overwhelming answered, that they were looking for a drink with less carbonation while still containing the extra caffeine to help them throughout the day. According to the survey more people are becoming more health conscience.
With lifestyles more diverse so are consumers demands for soft drinks they too have to meet different thirsts. Fortunately for Coca-Cola there is over a hundred different products sold worldwide. What the board decided to do could change the outlook of Cola-Cola forever. They decided to market a known product from Japan over here in the United States. This product is called Ko Cha Ka Den. It was introduced in 1992 and has become a popular specially brewed line of perfectly blended teas. It is available as Royal Milk, Fine Aroma Straight, and Garden Lemon teas. We decide that Ko Cha Ka Den due to the aggrandize success Japan has brought Coca-Cola. Japan is one the most competitive soft drink markets in the world. With more than 7,000 different soft drinks sold in the country. Coca-Cola s product range, in Japan includes more than twenty-five brands and sixty flavors. Coca-Cola feels this will increase market share and sales nationally.
Coca-Cola is one the biggest soft drink manufacture in the world. It has an expenditure budget of fifty million dollars. After extensive meeting with the various departments the conclusion was the best way to market this product was through television.
A commercial would be made announcing our new product. The average thirty second spot on prime time network television reached nearly ten million households. The cost per thousand household reached would be $11.18. Also the use of the Internet would be used. An estimated 6 million potential customers could be reached a day using the Internet. E-mails will also be sent out to our current customers whom are already registered on the website. The cost per thousand household reached would be $8.30. Radio announcements will also be used nationally reaching approximately 4 million commuters and listeners daily. The cost per thousand household reached would be $5.90. Billboard will also be used nationally in relation to the radio announcements for our commuters. The average of 2 million possible customers will be reached daily. The cost per thousand household reached would be $3.33. Coca-Cola feels that with these four marketing schemes it will be able to exultantly market Ko Cha Ka Den in the United States.
Direct marketing will also be used for publicizing Ko Cha Ka Den. Direct marketing is used, as one of the key strategies in communicating directly with target customers and it will generate a response and or a transaction. A free sample will easily be obtained at any participating store for Ko Cha Ka Den it will be available under bottle caps of other current Coca-Cola products. They will also offer free mail in rebates with the purchase of Coca-Cola products that were bought in cases. Coupons will also be disturbed nationally in newspapers, weekly for the month. Direct marketing will also be used by e-mail our current registered customers from our website. They too will also receive a free sample bottle of Ko Cha Ka Den. Using the combinations of direct marketing and the advertising strategy Coca-Cola expects fortunate outcomings for the new product. An expected 20 million samples are estimated for circulation.