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Introduce a new product essay



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The Coca-Cola Company's core undertaking is to benefit and refresh everyone it reaches. Founded in 1886, we are the world's leading manufacturer, marketer, and distributor of non-alcoholic beverage concentrates and syrups, which are used to produce nearly 400 beverage brands that make up for our wide portfolio. Our corporate headquarters are established in Atlanta, and we are holding local operations in over 200 countries around the world. Our activities cover all sectors of the beverage industry. We are the second leading player in functional and Asian specialty drinks, while ranking number one in value for the ready-to-drink tea sector (ref.1, p.1).

description of the new product, & strategic role in the future position of the company

"Bubble Buzz" will be a bottled beverage and will be positioned as the only ready-to-drink Bubble Tea product available on the market. The beverage will have a green tea base with enhanced fruit flavors (passion fruit, strawberry and lime) as well as tapioca pearls. It will bring an entirely unique drinking experience to its consumers. It will present itself as a funky and unusual alternative to traditional tea while providing the great taste of authentic fruit juice in an attractive and convenient packaging. The strategic role of Bubble Buzz for The Coca-Cola Company is centered around three objectives:

To stay at the forefront as the market leader in innovative product introductions and successful product launches;

To strengthen and satisfy the needs of the more adventurous Generation Y consumers with a new eye-catching and functional product.

To become the market leader in the functional drinks segment with increased market shares.

Consumption: The sales volume for the functional drinks segment (ref. D2) in UK has reached $342.2 millions in 2004 for a volume of 125.9 million liters (ref.2). This product segment has shown a steady growth since 1999: an increase of 13.5% over a period of 6 years (Appendix A). The consumption rate per capita in 2004 has reached 3.94 liters, which represents a 4.0% increase compared to 1999 growth of this particular market is largely due to a slow shift in consumer trends.

Trends: Through the early 1960s, soft drinks were synonymous with "colas" in the mind of consumers. In the 1980s and 1990s, however, other beverages (from bottled water to tea) became more popular. Coca-Cola and Pepsi responded by expanding their offerings

through alliances (e.g. Coke & Nestea) and acquisitions (e.g. Coke & Minute Maid), but also by focusing efforts on portfolio diversification. Today, while the soft drink industry's value has increased in 2004, the volume sales of carbonated soft drinks has declined due to a large proportion of consumers who are opting for the trend towards healthier alternatives in the functional drink segment (energy drinks, smoothies, milk & juice drinks, sports drinks) as well as bottled juices and water .Companies have been actively engaged in new product developments in order to counter the growing concerns about negative health impacts of high-fructose drinks, but also to increase the demand in a market where product offerings are quickly maturing flavor introductions and health-conscious formulations have been launched in an attempt to offset the decline in carbonated soft drink sales functional market is expected to show sustained growth and consumer interest in the future years as consumption shifts to trendier, healthier and more sophisticated products .

SWOT ANALYSIS (Strengths and weaknesses, opportunities and threats)

Direct contact with retailers, sales kit strategies to be explained later in the text.

Stands or special displays and events in schools, malls, sports events (i.e. 2008 Beijing Summer Olympic Games), sponsorship activities

Conferences, press releases (print and online), buzz marketing through TV coverage

Contests: "Win another Bubble Buzz flavour", "Uncover a secret code underneath the bottle cap and win sporting goods and electronics by logging on the website", "Win a trip for the 2008 Olympics in Beijing". (Arguments: It will increase consumer purchases and encourage consumer involvement with the product).

Samples: distributed in supermarkets, school/universities. Samples are a way to avoid product resistance since people are not used to find bubbles in their drinks. Arguments: It will encourage new product purchases and it represents low risk for consumers since they get it for free. They have nothing to loose by trying it.

Point-of-purchase: in supermarkets (to reach the parents of generation Y). Arguments: It is also a mean to increase product trial and provides a good product visibility.

Others: In subsequent years, engage in product placement in TV shows or movies.

Allowances and discounts: case allowance (Arguments: The "free goods" approach will be used so it can encourage retailers to buy more of the product to get a certain amount for free).

Cooperative advertising: to encourage retailers to buy our product and to maintain our high level of advertisement that consumers expect from Coca-Cola.

Scheduling of the advertising: Pulse scheduling (promotional presence year-round, but emphasized and intensified before and during summer).

Intermediary: personal selling will be more often used

Ultimate consumer: Coca-Cola will use more of mass media because the amount of potential buyers is large.

Bubble Buzz will be distributed through these channels: supermarkets, convenience stores, independent food stores, discount stores, multiple grocers, vending machines, direct sales.

China is the target country we're going to expand our product.

With a total population of 1,313,015,000 in the end of 2005 and 327,714,000 in our target market (age 10 to 25 years old), compared with the total population of Canada---304,453 million, there definitely is a great potential worth to work on.

absolute expenditure on food and non-alcoholic beverages is expected to increase from 1,777 billion in 2005 to 2,154 billion in 2010 (though the proportion of consumer expenditure on this part is decreasing from 28.39% to 25.75% )

Soft drinks industry is one of the fast growing industries in China, especially fruit/vegetable juice, RTD tea, and Asian speciality drinks and bottled water have shown a sharp increase during 1998 to 2003.

Bubble tea was originated in Taiwan. Soon after its introduction in China, it became one of the most popular beverages sold in tea stores on the streets due to the similar taste and similar cultural background. So, it is a good chance for us to enter into this market.

Since we are the top sponsor for the upcoming Beijing Olympic in 2008. With more opportunities to expose to the public, it is going to benefit our sale there.

Our entry-strategy for entering China is through licensing.

We have already provided licenses for manufacturing our products in China (licensing the bottlers and supply them with our syrup required for producing). Therefore, added in one or two more products in our production chain would not be that difficult.

It is relatively low risk when compared with direct investment there. It is low cost to export our new products there since we can maintain lower labour cost and lower material cost if we produce our products locally, especially in China.

Price: Price sold in China is going to change to accommodate the local desire. As we set our price sold in Canada $2.00. Compared to the price sold in the bubble tea store ($ 3.50), it is about 57.14%. So, with the information we gathered from the tea store in China [1 ]. the price sold there would be 57.14% of what sold in the tea store---$12 Yuen in China currency. Then, it would be around $7 Yuen, about CAD$1 [2 ] .

Naming the product: In order to be recognized and accepted more easily for the local market, we need not only translate our product name but also make sure there's not hidden unintended meaning that would damage our product.

Develop other flavours that would attract the local market: Since milk based bubble tea sell better in China, we will add in this product line. Also, we will avoid using too many artificial colors as they are not appreciated as much as in Canada. Moreover, people in China are becoming more and more health concerned, especially the amount of sugar and additives added in the drinks. We will make some changes in the ingredients used to appeal the local market, i.e. less sugary drinks.

Promotion: In contrast to the radio ads in Canada, we will use more TV and Web advertisement there due to the highly exposed environment in China. Also, we will put more emphasis on the ads on the public transportation such as underground/subway system and bus service due to the more frequent use of the public transport service there. Also, since the outdoor display screen is quite popular in big cities, we will also take advantage of it

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