Proposal of Marketing Plan - New Product Coca Cola Company [.doc] and [PPT]

I. Executive Summary.
The following marketing plan forms the basis for the introduction of an innovative new product by the Coca-Cola Company. The analysis allows us to outline the best strategies to follow for the achievement of the company’s strategic goals. “Bubble Buzz” will be marketed as unique functional drink while striving to reinforce the company’s status as the leader in innovation and successful product launches. The marketing strategies will enable to reach a market size of an estimated 7,124,057 people (targeted) with a forecasted sales growth prospect of 15% over the next 4 years, while satisfying the needs of the still-unserved market for ready to drink bubble drink. Success will be reflected by a sizeable capture of market shares within this market, while strategically carrying the company up to the top as the market leader in the functional drinks segment of soft drinks. Export potential will be considered in China.

II.Company Description.

a. Brief Description of the company :

The Coca-Cola Company’s core undertaking is to benefit and refresh everyone it reaches. Founded in 1886, we are the world’s leading manufacturer, marketer, and distributor of non-alcoholic beverage concentrates and syrups, which are used to produce nearly 400 beverage brands that make up for our wide portfolio. Our corporate headquarters are established in Atlanta, and we are holding local operations in over 200 countries around the world. Our activities cover all sectors of the beverage industry. We are the second leading player in functional and Asian specialty drinks, while ranking number one in value for the ready-to-drink tea sector.

b. Brief description of the new product and strategic role in the future position of the company.

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“Bubble Buzz” will be a bottled beverage and will be positioned as the only ready-to-drink Bubble Tea product available on the market. The beverage will have a green tea base with enhanced fruit flavors (passion fruit, strawberry and lime) as well as tapioca pearls. It will bring an entirely unique drinking experience to its consumers. It will present itself as a funky and unusual alternative to traditional tea while providing the great taste of authentic fruit juice in an attractive and convenient packaging. The strategic role of Bubble Buzz for The Coca-Cola Company focuses on three objectives as follows:

• To stay at the forefront as the market leader in innovative product introductions and successful product launches;
• To strengthen and satisfy the needs of consumers with a new eye-catching and functional product;
• To become the market leader in the functional drinks segment with increased market shares.

III. Situation analysis in Taiwan.

a. Industry Analysis :

Consumption analysis

According to Taiwan Beverage Industries Association statistics quoted in a Chinese-language Commercial Times report May 16, Taiwan's beverage market was worth almost US$1.5 billion in 2006 which represented 3.1 percent growth over 2005. Of these various beverages, tea products were unquestionably most popular, with sales of more than US$600 million or 42 percent of the total market, the report continued.

A news release posted March 28 on the Web site of the privately run Food Industrial Research and Development Institute indicated that 32 beverage manufacturers launching new products in 2006 focused on tea drinks and out of 327 new "ready-to-drink" products were introduced, 119 were tea drinks, predominantly green, milk and fruit-flavored teas.

In addition to stressing the origins and qualities of their products, beverage companies attempted to add new ingredients, such as polyphenols extracted from guava leaves, which were claimed to reduce absorption of starch and other carbohydrates.

Trend analysis.

Through the early 1960s, soft drinks were synonymous with “colas” in the mind of consumers. In the 1980s and 1990s, however, other beverages (from bottled water to tea) became more popular. Coca-Cola and Pepsi responded by expanding their offerings through alliances (e.g. Coke & Nestea) and acquisitions (e.g. Coke & Minute Maid), but also by focusing efforts on portfolio diversification. Today, while the soft drink industry’s value has increased in 2004, the volume sales of carbonated soft drinks has declined due to a large proportion of consumers who are opting for the trend towards healthier alternatives in the functional drink segment (energy drinks, smoothies, milk & juice drinks, sports drinks) as well as bottled juices and water. Companies have been actively engaged in new product developments in order to counter the growing concerns about negative health impacts of high-fructose drinks, but also to increase the demand in a market where product offerings are quickly maturing. New flavor introductions and health-conscious formulations have been launched in an attempt to offset the decline in carbonated soft drink sales. The functional market is expected to show sustained growth and consumer interest in the future years as consumption shifts to trendier, healthier and more sophisticated products.

SWOT Analysis...

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