The paper “ Strategic Marketing Plan Used by Coca Cola to Launch Minute Maid Mango Fruit Juice” is an outstanding example of a case study on marketing. This study sought to examine the strategies used by Coca-cola to communicate its products to potential customers. Marketing is an aggregate function directed at providing products to satisfy the customer’ s needs efficiently than the competition, keeping in view the organizational goals. Strategic marketing has become a very complex affair where customer has the upper hand to make the organization to attain its objectives.
The mantra of effective marketing of Coca cola products lies in the systematic and professional approach towards satisfying the customer demands. This Multinational Corporation has set up a research and market intelligence wings to remain competitive and innovative to ensure customer satisfaction and market growth is reached effectively within the expectation of the organization. These strategies provide opportunities for the organization to respond to the numerous hick ups within its operating environment. The company’ s strategy consists of the business approaches and initiatives it undertakes to attract customers’ attention to fulfill their expectations, to withstand competitive pressures and to strengthen its market position.
These strategies also enable manufacturers to seize strategic initiatives in order to maintain a competitive edge in the market (Porter, 1990). The competitive aim is to impress its customers because the Minute maid success is determined by its responsiveness to customer demands. The presence of real Mango pulp offers an unmatched consumer experience when the bottle is chilled, shaken and opened for drinking. There are several types of Minute Maid juices each aimed at different consumer preferences among them: low-acidic, pulp sugar-free, etc.
The non-carbonated beverage market that includes pure juices and fruit-based drinks has an estimated growth rate of more than 20% annually. Product Life CyclePLC is used to map the lifespan of a product consisting of five major steps: Product development, product introduction, Product growth, Product maturity, and decline step. These phases can be split into smaller ones based on the product and must be considered when introducing a new product in the market since they dictate the product sales performance. Product Development PhaseThis phase begins when the company finds and develops a new product idea.
It involves translating various pieces of information and incorporating them into a new product which then undergoes several changes during development before it is exposed to the target customers via test markets. Those products that survive the test market are then introduced into the real market place through the introduction phase. This is the phase of spending with absolutely no return. Introduction PhaseThis includes the product launch with its requirements to getting it to launch in such a way that it will have maximum impact at the moment of sale.
This is the money sinkhole stage whereby large expenditure on promotion and advertisement is common. The company must spend a lot of money and get only a small portion back as a payoff. In this phase, the distribution arrangements are introduced either by hiring external contractors or outsourcing the entire distribution process. Pricing should also be considered during this phase. Product pricing usually follows one or two well-structured strategies. Early customers will pay a lot for something new in order to maximize the sinkhole experienced during product development.
Later the pricing policy should be more aggressive so that the product can become competitive in the market. A pre-set price is used to maximize profits at the early stages of the product in the market. However, this demands very good information on the market and what the consumer is willing to pay for the introduced product.