New or Improved Product: Coca-Cola Cherry

This document discusses the new and improved product, Coca-Cola Cherry. It provides a brief description of the product, market analysis, key market trends, competitors, and current customer attitudes. It also covers segmentation, targeting, and positioning strategies, as well as the recommended marketing mix for the product.

New or improved
product

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Product/Service description.........................................................................................................1
a. Brief description of new or improvised product that is focus of work....................................1
Outlining market analysis ...........................................................................................................2
b. Brief analysis of market...........................................................................................................2
c. Key market trends....................................................................................................................2
d. Key competitors and the ways they are positioned..................................................................2
e. Summarising current attitudes or behaviours in the market.....................................................3
f. Identification of main issues or opportunities that are relevant................................................3
Segmentation, Targeting and Positioning....................................................................................4
g. What segmentation base is selected and reason.......................................................................4
h. Summarising profile and persona of target market .................................................................4
I. Statement which identifies the reason target market should buy the product .........................5
Recommended marketing mix.....................................................................................................5
j. Product......................................................................................................................................5
k. Pricing strategy........................................................................................................................5
l. Promotional strategy.................................................................................................................6
m. Channel or distribution strategy..............................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Product is a tangible substance which is produced as well as refined for sales purpose. It
is anything which may be offered in market for satisfying needs, choices, desires and wants of
targetted population (Godey and et.al., 2016). Marketing plays crucial role in success of product
as it is a survey along with administration of exchange relationships. It includes set of activities,
processes and methods to create, communicate, deliver together with exchanging products and
services which have values for society, clients, customers at large. The project is prepared on
Coca-Cola Bottling Shqipëria which is Albanian based entity that operates since 1994. Its
headquarters are situated in Kashar, Albania. The organisational product selected for project is
Coca Cola Cherry which is improvised product. It is cherry flavoured version on Coca Cola
which is wide popular in international market. Earlier, it was named as Diet Coke Cherry and
certain modifications in its flavour was made by the company so to offer an improved products
in market which is healthy to drink.
The project contains description of product, market analysis, key market trends,
competitors and their positions, behaviour of current customers and issues or opportunities that
are relevant. It further includes segmentation, targeting as well as positioning for the product. At
last, it includes recommended marketing mix for the new or improvised product.
MAIN BODY
Product/Service description
a. Brief description of new or improvised product that is focus of work
Coca Coca Cherry is carbonated soft drink of Coca Cola Company. It had been supplied
and distributed in different number of countries. At present, the drink is available in Ukraine,
Finland, United Kingdom, Albania, Latvia and many more. The company has made certain
changes in the bottle, taste, product name and so on aspects with changes in time. Earlier, it was
knowned as Diet Coke Cherry and then was renamed as Diet Coke Fiesty Cherry. It is a low
calorie version of cherry flavour of Coca Cola that is produced by keeping heath considerations
of targetted audience. The improvised product have attractive bottle shape, suitable price with
quantity as well as proper nutrients and other ingredients. Coca Cola Cherry includes huge
proportion of cherry syrup to water and have great taste with sweet as well as smooth cherry
flavor which reminds multicultural youth for experiencing mixture which is spice of life. It is
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great drink which keeps people at their best along with provide loyal drinkers a incomparable
flavor variety.
Outlining market analysis
b. Brief analysis of market
Market of soft drink industry in Albania is based on drinks, especially ready to drink
commodities (Hanssens and Pauwels, 2016). As per Coca-Cola Bottling Shqipëria, “Bottling
facilities differs within bottling lines types wherein they operate and kinds of product they may
run”. Around 48.7% of households makes spending in the market (Mikhaylova, 2020).
Moreover, Coca-Cola Bottling Shqipëria is leading player in the beverage market and have
acquired various local brands to strengthen it position and distribute its offerings till end
consumers. However, the company may not be able to make similar impression over Albanian
people masses. It produces and sells large number of bottles of Coca Coca with effective
promotional strategies in market.
c. Key market trends
The market trends in the market of Albania for soft drinks are as follows-
 In the Albanian Market the customers are nowadays preferring those products which are
tasty as well as healthy to consume. Thus the Coca-Cola Cherry product of Coca Cola
Bottling has huge potential in the market.
 In the Albanian Market the soft drink industry has huge potential for achieving higher
growth. Therefore it is witnessing the entry of several new players within the market
which creates extra competition within the market. Coca-Cola Bottling needs to prepare
effective strategies for dealing with its competitors.
 The customers prefer value for money in the Albanian Market. Thus Coca-Cola Bottling
is focusing on the creation of value for the products for which amount is paid by the
customers.
 In the Albanian Market, there is a strict regulation nowadays by the government on soft
drink industry. Coca-Cola Bottling needs to comply with the new laws brought in by the
government so that it is able to sustain in the market.
d. Key competitors and the ways they are positioned
Key competitors-
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Agna Group- Agna Group is a company which provides soft drinks products to its
customers in the market. In the Albanian Market it has a decent market share and has a
substantial customer base which it can target when it introduces new products in the market.
Pepsico- Pepsico is a company which has a strong global presence. In the market of
Albania, it is positioned at a good place where it has a decent market share and has a reliable
customer base which buys soft drinks from the company only trusting its brand name and image
in the market.
Thus these are the main competitors of Coca Cola Bottling in the Albanian Market and
thus they provide substantial challenge to the company in terms of their products as well as their
pricing strategies adopted. Thus Coca Cola Bottling is required to prepare a specific strategy for
dealing with them effectively. If the company prepares a specific strategy for them then this will
make sure that it is able to achieve the desired profitability within the market.
e. Summarising current attitudes or behaviours in the market
Current customer attitudes-
 The customers in the Albanian Market want soft drinks which do not affect their health in
any way (Harmeling and et.al., 2017). This is due to increase in the health-consciousness.
In this way they will be able to adopt a healthy lifestyle and thus they will be able to get
good products for the same. The Coca-Cola Cherry product of Coca Cola Bottling fulfils
that specific criteria.
 In the Albanian Market the customers have specific demands. They put their focus on the
companies which provide them maximum value for their money. In the context of Coca
Cola Bottling this means improvising its Coca-Cola Cherry in the market.
 The customers prefer eco-friendly products for their consumption. Thus they have
become environment-conscious. In Coca Cola Bottling, Coca-Cola Cherry has been
improvised so that the company is able to target more customers in the market.
 The customers in the Albanian Market want that the soft drink companies must include
certain schemes with their products (Homburg, Jozić and Kuehnl, 2017). Coca Cola
Bottling also needs to introduce such schemes to attract the customers.
f. Identification of main issues or opportunities that are relevant
Issues-
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 Competition from healthy drinks- The soft drink companies are facing high-level of
competition in the market particularly from healthy drinks. Coca Cola Bottling also faces
high-level competition from the healthy drinks in the market which can impact its
profitability level.
 Government regulations- There are strict government regulations which are put on the
soft drink companies (Järvinen and Taiminen, 2016). Coca-Cola Bottling also needs to
deal with certain government regulations which can impact the company in the long-run.
 Environment-friendly packaging requirements- For Soft Drink Companies there has
been a certain issue which they are facing with their environment-friendly packaging
requirements. Coca-Cola Bottling also needs to make sure that it is able to provide its
products in an environment-friendly packaging.
 Lack of adaptation towards e-commerce- Soft drink companies have been quite slow
in the comparison of other companies in adapting towards e-commerce (Katsikeas and
et.al., 2016). This has been resulting in slow growth of their revenues.
Segmentation, Targeting and Positioning
g. What segmentation base is selected and reason
Demographic segmentation has been selected by Coca-Cola Bottling Company. This
segmentation base can be used for segregating the customers according to the demographic
information available with the company. The examples of such information can be age, gender,
income, education etc.
The reason for selecting this base of segmentation is that the companies are required to
find out who their target customers are and what are their different types of expectations. This
can be used by the company to provide them with the products which are desired by them. Using
this, Coca-Cola Bottling needs to identify the target group of customers through which they can
higher-level of profits in the future time period.
h. Summarising profile and persona of target market
The target market for Coca-Cola Bottling for Coca-Cola Cherry has to be the younger
generation of the customers. The profile and persona of this target market is as follows-
This target market has its specific requirements which are required to be fulfilled by the
companies to maintain them as its customer base. The younger generation is a lot more health-
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conscious and environment-conscious in its approach. Thus they have similar expectation from
the companies as well. Thus the firms are required to fulfil these expectations. Coca-Cola
Bottling has tried that with its Coca-Cola Cherry. Also it is planning to introduce packaging
which does not harms the environment in any way.
Thus to meet the needs and requirements of customers in the target market the companies
are required to adopt a specific approach (Kotler and et.al., 2017). This helps them a lot by
providing the required products to the customers as it can result in increase in the overall sales
and thereby an increase in the profits. Thus Coca-Cola Bottling's managers should make a
specific strategy which can be implemented here to attain a strategic edge in the market.
I. Statement which identifies the reason target market should buy the product
The Coca-Cola Cherry offered by Coca-Cola Bottling is nutritious in nature and offers
ultimate energy to do different types of tasks in a day. Thus those who are looking for ultimate
energy to do their tasks should drink this. The Coca-Cola Cherry is not only nutritious but also
fulfils the requirements of health-conscious people by providing them with a healthy alternative
of the soft drinks.
Recommended marketing mix
j. Product
The product which is offered by Coca-Cola Bottling is Coca-Cola Cherry. It is a healthy
alternative to the soft drinks which the people usually drink. It provides the taste as well as it
does not harms the health of the customers. The salient features which this product offers to the
customers are as follows-
 Health-friendly- Coca-Cola Cherry is health-friendly and does not harms the health of
the customers in any manner.
 Different sizes- The Coca-Cola Cherry offered by the company to the customers is
available in the different types of sizes. The customers can select a particular size as
deemed comfortable by them according to their needs and requirements.
k. Pricing strategy
Coca-Cola Bottling needs to adopt penetration pricing strategy for Coca-Cola Cherry.
Using this strategy will allow it to penetrate the market with lower prices easily and thus when a
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foothold has been set into the market then it will be able to easily increase the prices and thereby
it will be able to maximize its level of profits.
This type of pricing strategy is also very suitable for the companies because this helps
them in facing competition when they launch a new product in the market. If this strategy is used
in the correct manner by them then this will surely result in the required returns for them in the
future time period and the companies will gain a strategic edge in the market.
l. Promotional strategy
The promotional strategies which will be adopted by Coca-Cola Bottling for Coca-Cola
Cherry will be as follows-
 Free samples- This is a common promotion strategy (Moorman and Day, 2016). It can
be used by the companies so that they can provide free samples for their products and
services in the market. Coca-Cola Bottling can easily target the customers by providing
them free samples of Coca-Cola Cherry so that they can taste the product before deciding
whether to buy it in the future.
 Sales coupons- This another common promotion strategy (Payne, Peltier and Barger,
2017). Companies generally use it so that they are able to generate more demand for their
products and can increase their revenues by making use of sales coupons. Thus Coca-
Cola Bottling is required to make sure that they can attract the customers by making use
of this method effectively.
 Digital promotional strategies-The digital promotional strategies are required by the
companies due to the needs and requirements of the present (Stephen, 2016). Coca-Cola
Bottling should make use of digital promotional strategies because it will help in making
a presence in the market.
m. Channel or distribution strategy
Channels of distribution-
Direct Channel- In this channel, the companies can make use of direct channel and thus provide
its products and services without any intermediaries in the market (Wedel and Kannan, 2016).
Coca-Cola Bottling can make use of direct channels and thus in this way they will be able to earn
more profits as there will be no intermediary in the market. They can make use of it for their
Coca-Cola Cherry.
Indirect Channels-
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 One-level channel- In this type of channel, the companies provide the products to the
retailers who then provide them to the customers in the market. This can be used by
Coca-Cola Bottling for making sure that they are able to reach more customers.
 Two-level channel- In this channel, the firms make sure that they provide the products to
the wholesaler who will provide them to retailer and subsequently they will reach the end
user i.e. the customer. Coca-Cola Bottling can use this channel effectively so that they are
able to reach the customers without problems and issues.
 Three-level channel- In this type of channel, the companies put their focus on providing
the products to agent who provides them to wholesaler who sells them to retailer and then
they reach the customers. It is a lengthy chain which involves many intermediaries in the
market. Coca-Cola Bottling can make use of this channel effectively and efficiently so
that they are able to reach the right customers.
As Coca-Cola Bottling is a big company in Albania it must make use three-level channel so that
it is able to target more customers in the market and thus sell more of its products to them to
enhance the overall level of profits. Therefore a lengthy chain has to be preferred by the
company.
CONCLUSION
From the above report, it can be concluded that marketing refers to the adoption of
certain practices which are helpful for the companies in reaching a larger number of customers. It
has varied elements which have to be used by the marketing managers to frame a marketing
strategy which can be highly effective for products as well as services which are provided by the
company to the customers. Using the right tactics for marketing helps the firms as it allows them
to create a large base of customers. Therefore if the companies are able to use the right approach
then they will attain strategic edge in the market over their competitors and thus in this way will
attain sustainable success in the market.
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REFERENCES
Books and Journals:
Godey, B. and et.al., 2016. Social media marketing efforts of luxury brands: Influence on brand
equity and consumer behavior. Journal of business research. 69(12). pp.5833-5841.
Hanssens, D. M. and Pauwels, K. H., 2016. Demonstrating the value of marketing. Journal of
Marketing. 80(6). pp.173-190.
Harmeling, C. M. and et.al., 2017. Toward a theory of customer engagement marketing. Journal
of the Academy of marketing science. 45(3). pp.312-335.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science. 45(3). pp.377-401.
Järvinen, J. and Taiminen, H., 2016. Harnessing marketing automation for B2B content
marketing. Industrial Marketing Management. 54. pp.164-175.
Katsikeas, C. S. and et.al., 2016. Assessing performance outcomes in marketing. Journal of
Marketing. 80(2). pp.1-20.
Kotler, P. and et.al., 2017. Marketing for hospitality and tourism.
Moorman, C. and Day, G. S., 2016. Organizing for marketing excellence. Journal of Marketing.
80(6). pp.6-35.
Payne, E. M., Peltier, J. W. and Barger, V. A., 2017. Omni-channel marketing, integrated
marketing communications and consumer engagement. Journal of Research in
Interactive Marketing.
Stephen, A. T., 2016. The role of digital and social media marketing in consumer behavior.
Current Opinion in Psychology. 10. pp.17-21.
Wedel, M. and Kannan, P. K., 2016. Marketing analytics for data-rich environments. Journal of
Marketing. 80(6). pp.97-121.
Online:
Coca-Cola Bottling Shqipëria. 2020. [Online]. Available through:
<https://www.coca-cola.al/al/home/>
Mikhaylova., M., 2020. Food, soft drinks account for half of Albanian households' spending.
[Online]. Available through: <https://seenews.com/news/food-soft-drinks-account-for-
half-of-albanian-households-spending-instat-547472>
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