New or Improved Product: Coca-Cola Cherry

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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