2. Table of content
Title page……………………………………..1
Executive summary……………………….2
Introduction…………………………………..5
Product description………………………..6
Value proposition…………………………….7
Features and benefits……………………..9
Target analysis………………………………….10
Competitive Analysis…………………………12
SWOT analysis……………………………………16
Marketing objectives…………………………..23
Pricing strategy…………………………………….24
Distribution strategy…………………………….26
Promotion strategy………………………………27
Budgets…………………………………………………30
References…………………………………………..31
3. Executive summary
This a marketing plan forming the basis for a new innovative product to be introduced
in the market by the Coca-Cola company. It is an analysis that is going to make it
possible for us to outline the strategies that shall be used to achieve the company’s
strategic objectives. “Bubble Fresh Tea” is going to marketed as a new functional
drink as we aim to recapture and maintain the status of the company as a successful
and innovative product launcher.
Our marketing strategy is targeting an estimated market size of 12,688,400 people
which shall bring an sales growth estimated at about 8.3% in the next five years
(243,029.47 in profits) and satisfy the unexploited market for a ready to drink tea.
The measure of success shall be based on the capture of a sizeable market share in the
industry and we shall consider Chinese market as an export potential.
4. Executive summary cont.
Mission Statement
To refresh and benefit every one we reach .
The objectives
Create awareness among consumers of the brand new bubble
fresh product
Establish brand recognition by capturing a sizeable market share
in the functional drinks industry
Become the leader in the industry
Achieve the sales forecast figures.
5. Introduction
“Bubble Fresh Tea” is a bottled fresh tea beverage which is the only tea
product in the market .
It has a green base with fruit flavors such as strawberry, orange and passion.
Presenting itself as a funky and an unusual unique drink in the market it will
change the consumer experience of the tea drinkers and distinguish itself
from the traditional tea with fruit juice flavors and attractive convenient
packaging.
6. Description of Product/Service
What is it, what does it do?
“Bubble Fresh Tea” is a new packed tea product in the market flavored with fruit
juice tastes.
With a green base with fruit flavors such as strawberry, orange and passion.
Presenting itself as a funky and an unusual unique drink in the market it will change
the consumer experience of the tea drinkers and distinguish itself from the traditional
tea with fruit juice flavors and attractive convenient packaging.
Who owns it?
The product shall be a property of the Coca-Cola company and all rights shall be
reserved and patented by the company
The product life cycle
This product is new and it shall be established in the market as new. We are going
to conduct vigorous campaigns to introduce and make the product a brand.
7. Value Proposition
Why would a customer buy it?
Bubble Fresh Tea is packed tea which is ready to consume and therefore the consumers shall
only need to warm it for consumption. It is made of high quality processed tea and it has been
flavored to meet the customers tastes and preferences. Further research shall be continuously
conducted to meet the tastes and preferences.
What is the value that it delivers?
This product saves the customers time and money. This is because it is already ready and safe
to drink. You do not need to go and purchase milk and then take time boiling and preparing it.
This shall be suitable for use in offices as well as homes.
The quality of the product is high and shall be frequently improved to meet customers
requirements as well as the health content requirements. The product shall be packed with
sugar and also as a sugarless tea.
The campaign slogan shall be
“For healthy , ready and quick to serve packed tea, get the Bubble Fresh Tea and improve
your tea experience. Why miss a cup when you got Bubble Fresh Tea ?”
8. Features and Benefits
Bubble Fresh Tea shall have the following features and benefit:
Shall have healthy /balanced diet content
Shall be preserved for long shelf life
Shall be packaged in recyclable packs
Shall be attractively packed
Shall be flavored with a variety of fruit flavors and also unflavored pack to
meet every consumer taste and preferences
9. Features and Benefits cont.
Shall have a shelf life of about one month.
It shall be ready to drink and portable
It shall help the company acquire the market share of persons who do like
carbonated products such as soda
It shall promote the company’s continuous invention and innovation program
and make it the leader in the market of soft drinks
To strengthen and satisfy the needs of the more adventurous Generation Y
consumers with a new eye-catching and Functional product.
10. Target Markets
The target market is the young generation who are always busy meeting their
daily life requirements and who do not have time to prepare a cup for themselves.
This includes students, young working class, single parents etc.
The export market includes china as shall be discussed later in this plan.
The marketing strategy shall be undifferentiated and concentrated because this
product in not only for the young but nay one else can consume the drink.
Identifying our market segment
The bubble tea shall be established as a ready to drink product in Functional
drinks segment
Identifying Segment needs:
This product caters for both nutritional /physiological needs and the social needs
due to its fun perception.
11. Target markets cont.:
Current trend of our market segment:
There is a growth and observable shift from carbonated drinks and fast
foods whereby consumers are going for healthy products to help their
body and mind.
There is the increased demand for on the way products by consumers with
an active life since they need healthy food and drinks but do not have time
to prepare the meals themselves.
The potential growth of our segment:
proven statistical reports indicate that with the current involvement of the
young generation in economic activities, our potential clients may grow by
2.72% over the next three years (2018) for the age bracket of 13-29 years .
12. Competitive Analysis
Coca-Cola’s competitors are PepsiCo, Inc. and Dr. Pepper Snapple Group, Inc.
these competitors produces, markets and distributes snacks, non-carbonated and
carbonated drinks plus other foods through franchises world wide.
Competitor Environment
PepsiCo Americas Foods unit offers salty and sweet snacks comprising;
Lays potato chips,
Doritos tortilla chips,
Cheetos cheese flavored snacks,
13. Competitive analysis cont.
Pepsi Co. Americas’ drinks unit sells ;
Mountain Dew.
Gatorade.
Tropicana Pure Premium.
Sierra Mist.
Mirinda.
Tropicana juice drinks.
14. Competitive analysis cont.
Dr Pepper and Snapple brands has been in existence for over 200 years and its
portfolio of products include.
Mott’s.
A&W.
Sunkist soda.
Hawaiian Punch.
Canada Dry.
Schweppes.
RC Cola.
Diet Rite.
15. Competitive Analysis Cont.
The competitors use the channels we use to market their products which are;
commercials.
print ads.
billboards.
sporting events.
Internet platform such as Facebook.
Our company’s strengths are the brand recognition in the market , ability to pursue
new markets , stronger distribution channels and result oriented operations.
Our weaknesses include reliance on line extensions, particular carbonated drinks and
the over saturation of carbonated soft drinks leading to brand recognition
dilution.
16. SWOT analysis: summary
Summary of Strengths and Weaknesses
Coca-Cola company shines in its brand portfolio and brand name and has been
ranked on top 100 globally as a brand . The large value of the company’s assets
at an estimated value of $ 97 billion in the year 2014 is another indication of our
distribution success.
This makes the company to rank way ahead of the competitor and this makes
the company get customer loyalty and ease market penetration despite the
threat of reducing its future market share due to intense and aggressive
competition .
17. Strengths
World’s Leading Brand
the greatest strength of our company is its recognition as the largest
manufacturer , marketer and distributor on soft drinks and syrup concentrates in
the world .
The company has been selling trade marked soft drinks and beverages since the
year 1886 in America and it currently has over branches in over 200 countries
around the globe. The recent establishments in bottled water has seen the
company’s market share increase as well as the brand recognition .
It is also known to have successfully launched juice concentrates tht are
performing excellently in the market.
Our market goodwill and customer loyalty is the biggest asset this company has
which is backed up by brand recognition.
18. Strengths cont.:
Large Revenue Growth in three segments
Coca-Cola’s revenues recorded a double digit growth, in three operating
segments. These three segments are Latin America, East, South Asia, and Pacific
Rim and Bottling investments.
Revenues from Latin America grew by 20.4% during fiscal 2014. During the same
period, revenues from the bottling investments segment grew by 19.9%.
Together, the three segments of Latin America, East, South Asia, and Pacific
Rim bottling investments, accounted for 34.8% of total revenues during fiscal
2014.
19. Weaknesses
Sluggish Performance in North America
The North America segment is dragging behind and this segment accounts for
more than 30% of our revenues and its high performance is vital for this
company.
The lack of any sale increase and the decrease in unit case retail volumes by 1%
in the year 2014 due to weak beverage trends and reduction in warehouses
delivery is also another weakness that should be handled with care and the case
is made worse by the company's forecasted weak performance in 2015 in North
America.
This slugging performance is impacting the growth of our company and
preventing us from recording robust top-line growth in our over-all performance.
20. Opportunities
Acquisitions
In the last decade ,this company has adopted acquiring other companies in the
market such as Kerry Beverages and reappointing it as Coca-Cola China Industries
.This extended the company’s control in manufacturing and distribution in the
nine provinces of China.
The company also acquired Apollinaris in Germany a company that sells
distilled water
The acquisition of TJC holdings in South Africa and several other deals in
Australia and New Zealand shall give this company a growth and expansion
chance through new product inventions and new market shares acquisition.
21. Threats
Intense Competition
Coca-Cola has stiff competition in the soft drinks industry and this competition is both
regional and globally and also the existence of many locally produced nectars ,juices
and fruit drinks in various market s around the world, the company must remain
innovative to remain at the top.
Pepsi is one of the company’s biggest competitor backed by others such as Cadbury,
Nestle, Schweppes and Kraft who are also established globally .
competitive factors
pricing,
advertising,
sales promotion programs,
product innovation,
22. Solutions to threats
Intense Competition
Competition is healthy and nothing much can be done to eliminate it in the
modern world with the existence of a trading global village brought by the
internet .For Coca-Cola to remain relevant in the market, they have to make
their brand name stick in the minds of their customers by lending their images to
TV shows and other social media platforms.
23. Marketing objectives
Coca-Cola shall produce Bubble Fresh Tea which is packed in a bottle and it is going
to be positioned as a ready to drink available in the market. It shall be packed in a
green tea base bottle and flavored with passion ,strawberry and orange .
This product is going to give the consumers and entirely unique beverage experience
and as a funky alternative to traditional tea due to the great taste of authentic fruit
flavors and convenient packaging .
The product is strategically centered on the following three objectives;
For the company to remain as the leader in the market through innovation and
product launch success;
Continuously increase the market share Coca-Cola company and become the leader
in functional and healthy drinks.
Satisfying and strengthening the requirements of the young generation which is
adventurous by giving the product a new eye-catching and healthy product.
24. Pricing Strategy
The price strategy that will be undertaken should consider the following aspects:
Product demand
Demand is an important factor and its main drivers are income, substitutes and
compliments, tastes and preferences of the customers and the quality of our
product. Most of our clients value our products and are willing to pay a higher
price for our high quality product which indicates value and quality accompany
each other.
Bubble fresh tea shall be introduced in the market at a price majorly elastic to
demand and therefore it is possible that the price shall increase as the demand
increases holding other factors constant.
25. Price strategy cont.
The product life-cycle
One advantage of a new product by a recognized company like Coca –Cola is
that in the earlier life of the project , the product can be priced highly due to its
association with prestige and funkiness.
This increases the profit margin and also allows the company to recoup the cost
of investments in the product and if well maintained we can charge a premium
on our price for prestigious class the product shall acquire and putting into
consideration the demand aspects of the product.
26. Distribution strategy
This product shall be distributed using our branches all over the globe. We
shall also distribute it in the malls and shopping places as well as retail
centers to enable it reach as many customer s as possible.
This means we shall be using both direct and indirect channels for our
distribution. The direct channels are our direct distributors all over the world
and the parties who act as our point of sale outlets shall be our indirect
distributors.
For this product I would recommend intensive distribution because we are
targeting the entire market and not only the young or the rich but also all
other potential customers.
27. Marketing and promotion strategy
Promotion Strategy:
Objectives:
We are going to make sure that Bubble Fresh Tea in order to create awareness to
the young generation as well as the parents.
Message:
“For healthy , ready and quick to serve packed tea, get the Bubble Fresh Tea
and improve your tea experience. Why miss a cup when you got Bubble Fresh
Tea ?”
Concepts:
Be Different , Original and Yourself
28. Promotion strategy cont.
Media selection:
The young generation which is our major target is considered to give the media
partial attention since they use more than several programs a behavior known as
multitasking . They always use continuous information and attention to scan
various media platforms and therefore we have to use almost any channel
availed to us especially the internet.
We shall also use Viral marketing strategies and implement campus contests and
other social contests to make it as common as possible.
29. Promotion strategy cont.
Television: MTV, YTV, Much Music etc.
Radio: MIX96, 94.7 FM, University stations etc.
Magazines for girls: Elle, Cosmo etc.
Magazines for boys: Sports Illustrated (or Kids edition)
Internet: Banners on websites (gaming, sports, etc.) and also using social media
such as Facebook and Twitter
Promotional website: www.BubbleFresh.com
Outdoors: Billboards in selected areas such as:
Campuses,
transportation (bus, metro, stations)
Tourist areas in high seasonal periods
Outskirts of key cities in geographical reach
31. References
Dibb, S. & Simkin, L. (2008). Marketing planning : a workbook for marketing
managers. London: South-Western Cengage Learning.
Hooley, G., Piercy, N. & Nicoulaud, B. (2008). Marketing strategy and
competitive positioning. Harlow, England New York: FT Prentice Hall.
Luther, W. (2011). The marketing plan how to prepare and implement it. New
York: AMACOM.
McDonald, M. & Wilson, H. (2011). Marketing plans how to prepare them, how to
use them. Chichester, West Sussex, U.K: Wiley.
Wood, M. (2014). The marketing plan handbook. Boston: Pearson.
Editor's Notes
The executive summary introduces our plan and product. It also goes further to explain and align our plan with the mission statement and the objectives of the company.
This is an introduction of our product and brief explanation of the product flavors and packaging
The product’s name is Bubble Fresh Tea which is a new product in the market. I t shall be a product of the Coca-Cola company and the company shall introduce it with its marketing strategies to make sure it has acquired a market share and also be presented as a brand to the consumers. Through our goodwill in the market , I am sure this shall bea success.
The product shall be continuously improved to meet the consumer needs as per research conducted and alsothe quality shall be maintained and improved as per the health laws and regulations requirement. To meet the needs of every customer, we shall pack the tea in two different types i.e. with sugar and without sugar and also with milk and milk less. the campaign slogan above shall be used to get customers attention and also advance the companies brand recognition
The above are the various features and benefits of launching the product to the company. I am sure the consumers shall see this as an advantageous product since it is healthy and it’s content is well labelled in the packing container. The company will improve and overcome it’s competitors with this product since the major competitors have not captured this market.
We are going to initiate strong awareness about the launch of Bubble Fresh Tea throughout Generation Y (10-29 years old) consumers as well as their parents.
We are also going win market shares over our top functional drinks competitor, PepsiCo.
These are two of the major competitors who are a threat to Coca-Cola company. We are analyzing our environment and the products they sell to see if they have a match with our new product and so far so good we can go ahead with our launch of the product.
The beverages listed above cannot be considered a threat to our products since they have been in the market and they do not match our product.
This is the list of the products of the next major competitor from Pepsi Co.
We are now going to weigh our strengths and weaknesses versus the weaknesses of our competitors and so far we have over established ourselves in the carbonated soft drinks that’s is why we need to get in the healthy drinks market.
This is a summary of the strengths and weaknesses as shall be discussed in the next few slides.the strength is that we have both intangible assets (goodwill, customer loyalty etc.) and the weaknesses are intense competition from almost strong competitors.
As a recognized brand and long term establishment in the market, we are in line with out mission of refreshing each of our customers .The goodwill we have in the market shal be capitalized upon and this is our greatest strength
The continuous growth in revenues over the years is an indication of our continuously expanding market share. with the introduction of Bubble Fresh Tea, this is bound to increase by approximately 2% globally. The regional analysis shows that we are acquiring even exotic cultures through our continued innovation and invvetions such as Bubble Fresh Tea.
The weak performance in North America is an indication of less expected growth and this is a big weakness since we are not able to anticipate further growth. The dream of being a robust performer in the industry may not come true if this trend continues.
The company has acquired many companies from all over the globe which gives it an expansion chance plus the acquisition of new talents to increase its innovations and inventions. These opportunities also increase the market share acquisition and increase of the company
The main threat to the company is global competition which comes not only from the major competiotrs but even the small companies established in the global market. The competitive factors are listed above and these could impact on both revenue as well as market share.
The only solution for coca cola is to continuously expand their brand recognition and maintaining as well as acquiring new customers. This can be done by frequent apearances in public places and platforms
We now explain the product and its functions as well as the objectives alignment with the Coca-Cola company’s objectives. The need to increase market share and also remain as a market leader is highly emphasized here.
Product demand is going to be used in our pricing model, continuous market research in the first few years after the product launch is vital to enable us understand the demand curve of our product. However after reaching an equilibrium price, we shall be enjoying maximum profit and any profit above that shall be abnormal profits.The consumer tatses and preferences shall not however be under estimated and all other factors affecting demand shall be put into consideration here.
We shall use our goodwill to associate the new product with prestige and funkiness thus pricing it at a higher price to maintain its classy touch. This shall enable us to recoup our investment costs in the product and also enjoy premium profits in the early stages of the product .We should however be careful in observing demand and the products’ general performance in the market.
Since we have established distribution channels for our other products, we shall use these channels to distribute Bubble Fresh Tea. They shall be both direct and indirect channels and intensive distribution shall be undertaken to make sure we reach every customer.
Our promotion strategy is meant to create awareness and make the product sell by giving it the attractive and a call to action slogan as stated here. The concept is meant to make the consumers feel unique and appreciated
The above show few of the platforms we shall use to campaign for Bubble Fresh Tea.
An excel worksheet is attached for your review. The