Jayaram, J & Narasimhan, R. (2007). The Influence of New Product Development Competitive Capabilities on Project Performance. Engineering Management. 54(2), 241 – 256.19Executive summaryOver 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 elite 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 of organizations have taken keen interest in creating, launching new products or services so as to ensure their long-term viability within the marketplace. In this case, 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 maintain the 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. Furthermore, the goals of launching localime product as well as issues that coca-cola company might face while in the process of achieving its set out targets are discussed.
There is also deliberation on the exact method through which the company will apply in launching and monitoring its new product. Since there is no project taken without a cost, a focus is also paid on the cost side of price setting based on the company’s both long-term and short-term objectives taking note of revenue generation from the localime product. Therefore, there is a thoroughly laid out plan for the coca-cola company so as to make the launch of localime successful (Gerwin & Ferris, 2004). Current market situation of coca-cola companyCoca-cola enterprise was established in 1986 and currently provides more than 400 brands in about 312 countries.
It is one of the leading manufacturers, distributors as well as marketers of the non-alcoholic beverages syrups and concentrates across the globe with brand equity of about 48 to 50 US dollars. The company with its branch in Kenya plans to join the fruit juice marketing which is mainly dominated by Nestle that holds the highest juice share within the market. Coca-cola Company operating in the processed food and beverages industry is highly considered as one among the largest industrial sectors which accounts for about 27% of the aggregate production and approximately 16% of the total employment within the manufacturing sector.
The company intends to launch the new fruit juice under the unique name Localime that is a lemon-flavoured juice. This decision to introduce a lemon-flavoured juice was made after carrying out a market research that portrayed the preference of a majority of people for the juice that has lemon taste as illustrated in the figure below (Aaron & Lord, 2000).