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Research Paper Assignment - Coca Cola Organization

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Added on  2020-05-16

Research Paper Assignment - Coca Cola Organization

   Added on 2020-05-16

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Coca Cola Organization and new product failure 1COCA COLA ORGANIZATION AND NEW PRODUCT FAILUREName:Institution:Course:Tutor:Date:
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Coca Cola Organization and new product failure 2Executive summaryThe presentation on this research paper examines some of the reasons that led to the failure of ‘New Coke” by Coca Cola Company in the international market. It concentrates on presenting some issues that lead to New Coke to be the product that failed after its launch in the marketplace in 1985. Besides, the ideas presented in this paper illustrate some of the new concepts in product management that remain to be relevant or contributing to the new product failure of New Coke by Coca Cola Company. Moreover, ideas presented in this investigative paper illustrates some of the ideas that the management of Coca Cola Company should have done differently by its management to overcome cases of product failure in the marketplace. Thepresentation shows that conducting of market research for the introduction of “New Coke” in themarketplace remains to be essential in eliminating chances of product failure. From the discussion, there is a need for the Coca Cola Company to focus on the application of downgrading or splitting channels as a way to eliminate cases of “New Coke” failure in the global market.
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Coca Cola Organization and new product failure 3Table of ContentsIntroduction......................................................................................................................................4Background information..................................................................................................................4New Coke Product Failure...............................................................................................................4Lack of demand...........................................................................................................................5Flawed product............................................................................................................................5Poor timing..................................................................................................................................6Poor planning...............................................................................................................................7Lack of uniqueness of the product...............................................................................................7Product deficiencies.....................................................................................................................8New Product Management Concepts...............................................................................................8New product development strategies and speed..........................................................................9New product development team and processes.........................................................................10What should have been done differently by the organization?......................................................11Failure of product to fulfill needs and wants of the consumer..................................................12Launching product at the appropriate time................................................................................13Concentrating on the most vital rule of thumb for growing current customer acquisition........14Learning from competitors........................................................................................................14Conclusion and recommendations.................................................................................................15Lists of References........................................................................................................................16
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Coca Cola Organization and new product failure 4IntroductionThe idea of bringing the new product to any company just like Coca-Cola needs extensive surveyalong with preparation. Nevertheless, it is clear from different extensive research conducted on Coca-Cola that only one in four products in the development pipelines ever make it to consumers(Crawford & Di Benedetto 2015, p. 11).Background informationCoca-Cola was created by Dr. John S. Pemberton in 1886 in Atlanta, Georgia. It is the most popular and largest selling soft drink in history and the most acknowledgeable brand globally. The Company serves a global market as a beverage organization. Coca-Cola presented reformulated Coca-Cola, frequently alluded to as "New Coke," in 1985 denoting the main recipe change in 99 years. The organization didn't set out to make the controversy of consumer complaint that followed; rather, Coca-Cola proposed to re-invigorate its Coca-Cola mark and the cola class in its biggest market, the United States. Conversely, the original Coke brand was already popular and worth fair competition with Pepsi. New Coke Product FailureThere are various vital reasons why the “New Coke” produced by Coca-Cola failed in themarket right after its launch in 1985. All these reasons are the vital concern to inventors as well as entrepreneurs who need to achieve success in the international marketplace (Vaquero et al., 2016, p. 1011). Therefore, some of the critical reasons for new product failure by Coca-Cola include; lack of demand, inadequate marketing investigation, flawed product, lack of product
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