The paper 'Marketing Strategies and Planning for Brand Extension' is a wonderful example of a Marketing Assignment. The coca-cola company is an American multinational corporation that produces retails and markets soft carbonated beverages. The main beverage manufactured by the company is coca-cola, with brand extensions taking place to introduce other beverages such as Fanta, Sprite, Fresca, Fruitopia, Kinley, Inca cola, Mello Yello Zero, Caffeine-free diet coke, Coca-cola cherry zero, Krest, and Dasani. Part of brand diversification deals with the extension of these products. Diet coke was invented as a means of allowing people on diet to be able to enjoy the soft drink without consuming as many calories as the normal coca-cola.
Vanilla diet coke will be designed to increase the flavor of the diet coke while maintaining the same superior quality *Hutt and Thomas 36). This will be geared towards satisfying the needs of customers who wish to become more adventurous with their palates while ensuring that their calorie intake is minimized. Description of Vanilla Diet Coke Vanilla Diet Coke is an extension of Diet Coke, which comes flavored with the delicious vanilla essence.
Although coca-cola already has small amounts of vanilla, this new product will have a slightly increased amount. Developers have still maintained the same great taste but added the essence to increase the flavoring as a means to diversify their products. The product will not contain any saturated fat, natural sugars, or dietary fiber. The energy consumption per 100 ml of the product will be 1.0 Kilojoules. Sodium intake per 100 ml will be 11.0 milligrams. The carbohydrate intake per 100 ml will be 0.10 grams. With vital added nutrients such as vitamin C and Vitamin B12, vanilla diet coke will provide a significant proportion of the daily intake of these vitamins, thus enhancing the immune system of consumers.
The main target market for the vanilla diet coke is individuals wishing to minimize their calorie intake while still enjoying the same great taste. These include people wishing to lose weight, diabetics, and health-conscious individuals. Being a popular brand worldwide, the marketing strategy is projected to be successful through the incorporation of modern advertisement techniques and forums that appeal to the intended target market.
In addition, there will be a strong positioning in terms of distribution to potential consumers. Objective The objective of the new vanilla diet coke is to provide a rich taste in diet coke with an added vanilla ingredient. It is intended to be a source of refreshing taste to consumers as their health concerns are still considered. This will provide an edge over all other soft diet drinks in terms of taste and health. The positioning will be minimized calories with a palatable flavor that provides a rich taste among the consumers with an adventurous palate.
The company’ s target revenues from the introduction of this new product are expected to reach the projected profit margins. The marketing plan is projected to take place within a period of twelve months. The marketing plan will be aligned with the company’ s mission and vision of providing the best quality of soft drinks worldwide. The brand extension also seeks to nurture the strong existing network of partners, which include distributors and retailers.
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