The paper "New Product Development - Coca-Cola Company" is a great example of a finance and accounting assignment. Over centuries Coca-Cola Company has acquired a distinctive privilege in operating as a premier organization within the beverage industry. Through its consistent market research alignment, Coca-Cola Company has persistently discovered solutions to both bridge and mitigates any gap between what its consumers yearn for in relation to the things that seem to be available to them. Due to its ability to find the best way to fill the void, coca-cola company been able to manage its brands amongst the few elites who still hold a very special impenetrable bond with all their customers. Essential to all products and services is the idea of birth, growth, maturation and ultimate demise.
On the other hand, most organizations have taken a keen interest in creating, launching new products or services so as to ensure their long-term viability within the marketplace. In this case, the coca-cola company has decided to create, launch as well as establish its new product referred to as localine. In the project, the company has focused on showing how challenging it is to launch the new juice known as Localime in Kenya and how it is expected to market it so as to make the launch successful.
The main aim of diversification is to maintain consumer relevancy as well as the never-ending investigation to achieve growth targets. Therefore, Localine aims are expected to embody the marketing strategy for coca-cola through the following ways: To formulate and construct an ideal image that relates localime with a healthier and positive way of living, To make use of the residual benefits achieved from localime such as health factor, sports or athletes in order to expand and broaden the Coca-colas’ brand recognition. In this report, the current market situation of the coca-cola company is described in detail.
An extensive discussion on the marketing strategies that are put in place so as to successfully launch the new product is also provided.
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