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Coca-Cola's New Coke Failure Analysis

   

Added on  2020-05-16

7 Pages2007 Words50 Views
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New Product Management9014NPMAQF Level 9ASBForum Posts – New CokeWord count: 16241
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Table of contents1.Introduction....................................................................................................................32.Forum Post 1 – Topic 1 - 4...............................................................................................33.Forum Post 2 – Topic 5 – 7..............................................................................................44.Forum Post 2 – Topic 8 – 10............................................................................................6Reference list..........................................................................................................................72
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1.IntroductionCoca-Cola Company 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 brands globally. Coca-Cola was initially offered as the fountain beverage at Jacob’s Pharmacy. The Company serves a global market as a beverage organization. “New Coke” is the product that failed after its launch in 1985. Original Coke brand was already popular andworth fair competition with Pepsi. The decision to terminate Original formula was irrational.Coca-Cola underestimated the power of its original brand leading to a widespread boycott inthe US.2.Forum Post 1 – Topic 1 - 4The first concept emerging from the background and relevant to post 1 is “market research”. This concept applies to topic 2 and hence appropriate for post 1. In the text, poorcustomer knowledge is highlighted. It is outlined as one of the “barriers to the generation ofthe idea.” Because there was insufficient or inadequate market research, this is a concept that I have included in this first post. Market research is the activity or action of collecting info regarding the preferences and needs of the consumers. According to Crawford and Di-Benedetto (2015), the first phase of new product process entails the identification and selection of the relevant opportunities. According to Sharp (2017), market research encompasses collecting and analysing the info relating to a prevailing or a potential. This will include the buyer behaviour; customer needs as well as how the customers perceive offering of the organization and its rivals. Kotler and Keller (2016, p. 121) held that useful market research allows the organization to acquire timely, accurate as well as actionable info regarding competition, consumers, and their brands. A successful product launch is thus a product of a marketing insight discovery and implication understanding as it offshoots a brand growth. Suitable market research by Coke-Cola would have guaranteed a complete knowledge of its old consumer's buying behaviour besides their needs about the public perception of the original brand. 3
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