Follow the instructor’s instructions and format strictly. He is very hard with that DUE Saturday 4pm los angeles time.
https://www.youtube.com/watch?v=ernk34aPML8 these 3 videos will help with the case.
New Coke Case Study Lets assume that among the marketing strategy solutions for Coca-Cola in 1985 was the strong consideration of introducing a new cola product (in some form) in the marketplace. As we know, Coca-Cola did in fact reformulate their flagship Coke product and relaunch it in 1985 – but was that the right decision? Now its your turn to determine what would be the best product mix for the Coke brand, given the competitive marketing environment in the soft drink market of 1985.
Recap: Why Coca-Cola Introduced New Coke in 1985
Coke was being outsold by Pepsi in segments where consumers had a choice of the brands, such as supermarkets, Overall Cokes market share was steadily declining (down from 24.3% in 1980 to 21.7% in 1984) , Coke had increased their advertising and promotional spending from $50m to $200m in recent years. Their $200m promotional budget was 1/3 more than Pepsis spend of $150m), but failing to stop Pepsis gains in market share, Coke was having to resort to conducting aggressive sales promotions and discounting in stores (to reduce the impact of the Pepsi Challenge advertising), Cokes own market research was indicating that “taste” was the main reason for their erosion of market share, Pepsis “new generation” advertising campaign was designed to position Coke as old and tired and boring, Pepsi now had Michael Jackson at the height of his career, Cokes R&D area has developed a new cola formula that was preferred over both Pepsi and existing Coke in blind taste tests, Plus the new Coke formula was cheaper to manufacture, which would add up to a $50m pa increase to the bottom line. The New Coke Strategy Coca-Colas management believed that the introduction of New Coke would completely destroy Pepsis competitive strategy.
In fact, Pepsis own management initially believed that this was a masterstroke by Coke. Firstly, the New Coke product was to be positioned as new, exciting, modern and young; directly confronting the “Pepsi Generation” campaign and stealing Pepsis market positioning. Secondly, the New Coke product tasted better which would stop the Pepsi Challenge taste-test advertising. In fact, Coke had plans to run their own taste-tests and run their own TV commercials in order to win back lost customers. Therefore, you can see why Cokes management was so confident, as they believed that they had boxed Pepsi into a corner and destroyed their competitive strategy, as highlighted in the following perceptual map. new coke positioning on a perceptual map Alternative Product Options to Consider You need to consider whether if and how Coca-Cola should launch a new product or whether there are better non-product solutions to their competitive battle with Pepsi. Here are the different approaches to a new product to consider.
A. Develop a NEW product Launch the new product as a replacement for Coke (as they did first) or Launch the new product under Coke brand in addition to Coke (as they did later) or Launch the new product under a new brand name (as a multi-brand strategy) or Slowly change the Coke formula over time to become New Coke (without consumers noticing) or Undertake market testing of the new product first (before a full launch)
B. Do NOT develop a new product Increase promotional activity and spend Increase in-store promotions and discounting Increase retailer penetration Reposition the Coke brand Attempt to reposition Pepsi Try something else (your own ideas)
C. Do nothing different Which would you do? From the above list, what would be the best option for Coke to pursue in 1985? If you decided to introduce some form of new product, how would you position the new product relative to both Pepsi and any remaining Coke products? If you decided to reposition the Coke brand or Pepsi, outline your positioning goals. If you decided NOT to modify the product mix, outline why this approach would be successful given that Coke has already implemented many of these marketing tactics.
The goal is to identify the problem the company is facing and provide some strategic recommendations as to how the company can overcome their problems. Include rationale to justify your recommendations and tactics that explain how the recommendations can be implemented. Referring to some of our earlier readings and videos will help. I would expect this to be a minimum of 4-5 typed pages, in 11-point font, and 1.5 spacing. Please do not write the questions.
They are provided for guidance to help you create marketing strategy. The answers to these questions must be reflected in your paper but again you do not want to write the question and then follow it with the answer. Instead, you want to formulate into the recommended format. Remember, too, that our discussion and role playing should help provide some perspective. You want to make the argument for the best solution possible. please see case memos. Case Memos You will be asked to submit a typed analytical report in 11-point font and 1.5 spacing for four case studies. Assume the role of management presenting your recommendation to the Board.
Using the questions I pose in the case description, structure your paper into this suggested format: Background/overview: Strategic issue: Identify one central strategic issue. Simply identifying a problem with fixes is not strategic (that is tactical). A strategy issue is all encompassing such as industry growth is diminishing. Recommendation(s): Suggest an overall marketing strategy that would solve or, at least, mitigate the issue.
Tactics: Provide tactics (more narrow strategies) that will implement the recommendations you offer. Rationale: Consider the different elements of the marketing mix and the integration of those strategies to best portray the company’s unique selling proposition. (Your recommendation derives from an underlying unique selling proposition.) Works cited page.
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