Fundamentals of Marketing: Coca-Cola New Product Marketing Plan

This assignment presents a comprehensive marketing plan for a new fruit-based variant of Coca-Cola. The plan begins with an introduction highlighting the importance of marketing strategies for flagship brands like Coca-Cola, which is worth billions of dollars. The study then explores the company's vision and mission, emphasizing its focus on sustainable growth, refreshment, positive consumer experiences, and stakeholder value. A detailed marketing audit is conducted, analyzing Coca-Cola's competitive landscape, including its internal and external competition with PepsiCo and other Coca-Cola products. The marketing objectives are defined, focusing on revenue generation, brand differentiation, and profit maximization, supported by the Ansoff matrix. The high-level marketing plan outlines the target customer segment, product positioning, and the marketing mix (product, pricing, place, and promotion), including strategies for social media and media platforms. The launch of the IMC is presented to show the meeting of the stakeholders and the launch of the product.

Running head: MARKETING OF COCA COLA
Marketing of Coca Cola
Name of the student
Name of the university
Author note

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MARKETING OF COCA COLA
Table of Contents
Introduction:....................................................................................................................................2
Section 1: Business vision and mission:..........................................................................................2
Section 2: Marketing audit:.............................................................................................................3
Section 3: Marketing objectives:.....................................................................................................4
Section 4: A high level marketing plan:..........................................................................................5
Conclusion:......................................................................................................................................6
References:......................................................................................................................................7

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Introduction:
Multinational companies own several brands worth billions of dollars yet some brands
outshine the others. These brands become face of the company and play immense roles
strengthening the market position. The companies owning these brands have to make separate
marketing plans to ensure that the flagship brands retain their competitive position in the global
market. The crux of the study would be formation of a marketing plan for an innovative new
variant of one of most expensive brands in the world according the Forbes Magazine worth a
whopping $ 57.3 billion-Coca Cola (Badenhausen 2018). The company would be none other
than the largest beverage manufacturer in the world, Coca Cola. This would finally lead to the
development of the innovative product which would be a fruit based aerated variant of
Coca Cola having a unique combination of fruity flavour and signature taste of Coca Cola.
Section 1: Business vision and mission:
The Vision of Coca Cola Company, the largest beverage marketer globally is to
accomplish sustainable growth in business. The company takes into account six Ps which reflects
this sustainable vision of the company. They are people, portfolio, partners, planet, profits and
productivity.
The mission of Coca Cola stands on three main pillars. The first pillar is that the
company aims to spread refreshments through its products. This mission of Coca Cola Company
can be observed in the very advertisements and images of its flagship product, Coca Cola (Coca-
colacompany.com. 2018.). The second pillar of Coca Cola’s mission is to inspire moments of
positive feelings and happiness among the consumers. The third and the final mission of the

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beverage giant is to create value for its stakeholders. This mission of the company indirectly
points towards its adoption of sustainable practices while operating in the global market.
Section 2: Marketing audit:
The marketing audit of Coca Cola Company shows that the company is the largest
beverage marketer in the world. The financial statements of Coca Cola reveals that the company
holds more than five hundred brands which in markets in more than two hundred countries. As
far as the marketing audit of Coca Cola is concerned, the company faces competition from its
toughest competitor, PepsiCo. As far as Coca Cola, the product is concerned, it faces competition
from both within the company and from other companies. Kayaba, Boyraz and Derdiyok (2017)
mentions that multinational flagship brands face stiff competition from products of their
respective owners which compete with the former for customers. For example, customers
planning to buy Coca Cola carbonated products can either opt for Coca Cola or Sprite. This
shows that Sprite competes with Coca Cola, the flagship product of Coca Cola Company.
However, it can also be pointed out that the top brand value of Coca Cola prevents Sprite or any
other products from the Coca Cola Company from cannibalizing it. Kim, and Mauborgne (2014)
points out that flagship of one multinational company faces stiff competition from the flagship
products of their nearest rivals. A marketing audit of Coca Cola would show that the company
receives toughest competition from Pepsi, the flagship product of its toughest competitor, Pepsi
Co. Spisak et al. (2015) point out that Pepsi and Coca Cola being toughest global competitors,
often adopt leadership and followership marketing strategy to compete with each other. A
marketing audit of the variants of Coca Cola would show that its attributes like taste and colour
are very similar to that of Pepsi. Moreover, its variants like Diet Coke also face competition from
their counterparts owned by PepsiCo. Thus, the outcome of the marketing audit is that Coca Cola

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faces competition both internally as well externally. Thus, it can be pointed out that the
discussion would hold a very significant part in the marketing of the innovative Coca Cola
product.
Section 3: Marketing objectives:
The main market objective of Coca Cola Company to release the new product which
would be a fruit based variant of Coca Cola would be earning more revenue and give its toughest
competitor PepsiCo a tougher competition. This would boost the competitive position of Coca
Cola as a brand in the global market and generate more revenue.
New
Market Market development
Diversifaction New
variant fruiit based
version of Coke)
Existing
market Market penetration Product Development
Existing products New products
Figure 1. Ansoff matrix showing new product of Coca Cola
(South: Auythor)
The second objective of Coca Cola to launch the new product, Coco Cola with a fruit
flavour would be differentiating the brand Coca Cola ahead of other brands owned by the
company like Sprite. This would enable Coca Cola to compete more with the other Coke brands
and retain its position as the flagship product.

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The third objective which Coca Cola should aim to achieve by introducing fruit based
variant of its flagship product Coca Cola would gain supernormal profits. This is because since it
would the pioneer in introducing fruit based cola drinks, it would have no competitor. Hence, it
would be able to earn supernormal profits before PepsiCo introduces a similar product.
Section 4: A high level marketing plan:
The customer segment which Coca Cola Company to target with its fruit based variant
would the middle and upper class customers. The product should position itself in the global
market as the premium version of Coca Cola. The marketing mix of the new variant of Coca
Cola should would have four components, product, pricing, place and promotion.
The product should be the fruity version of Coca Cola available in flavours like orange
and lemon. The initial pricing strategy would be scheming pricing to generate supernormal
profits. The product would be available in the shopping malls and departmental stores. The
company would use the printed and audio-visual media to market Coca Cola. The social media
platforms should be used extensively to promote the new product.

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Launch of IMC
Coca Cola offices all
the world hold
meetings using face
to face methods and
teleconfercing method
Gather market
report
Apex management
forms a central plan
Advertisments to
communicate with
external
stakeholders like
customers on
newsapapers and
magazines
Meeting with
suppliers
Releasing of
advertisement of
Youtube
Final launch of the
new product
Conclusion:
It can be concluded that the new product would be launched by Coca Cola to boost its
market presence in the global market. The product should use the market position of Coca Cola
in the initial phase and establish itself as the premium version of Coca Cola.

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References:
Badenhausen, K. 2018. Forbes.com. Retrieved from
https://www.forbes.com/sites/kurtbadenhausen/2018/05/23/the-worlds-most-valuable-brands-
2018/#7677a751610c
Coca-colacompany.com. 2018. Retrieved from https://www.coca-colacompany.com/coca-cola
Kayabaº, T.D., Boyraz, G. and Derdiyok, R., 2017. Examining Coca-Cola and Pepsi Brands
under the Basis of Globalisation and Multinational Companies. International Journal of
Academic Research in Business and Social Sciences, 7(12), pp.351-358.
Kim, W.C. and Mauborgne, R.A., 2014. Blue ocean strategy, expanded edition: How to create
uncontested market space and make the competition irrelevant. Harvard business review Press.
Spisak, B.R., O'Brien, M.J., Nicholson, N. and van Vugt, M., 2015. Niche construction and the
evolution of leadership. Academy of Management Review, 40(2), pp.291-306.