Anonymous Accounting Nov 21, Being in a manufacturing industry for almost 20 years, our company has maintained a strong good working relationship with our customers, whether locally and abroad. We have protected and maintained our branding and our old customers still being patronized. But due to a lot of new competitors of this modern age, we noticed that most of our customers now, whether old and new, they became slowly turning their attention to new faces, i.
General Instructions for running the New Coke Case Study in class Much has been written about the New Coke new product development and launch in and there have been numerous case studies published in various textbooks, along with numerous books.
But what is different about this case study for New Coke is that students will role play a particular character or professional in their discussions, taking into account their goals and motivations.
This New Coke case study is in two parts, part one deciding the best competitive marketing strategy against Pepsi is outlined below and part two deciding if and how to launch a new product — that is, New Coke is on another page on this website.
Basically the information provided below will take the students back to to address the challenges that Coca-Cola was facing at that time. The character and role descriptions provided are based upon the real players and their generalized motivations.
This New Coke case study role play exercise is designed for groups of six students. Allow student groups around 30 minutes to review the case, decide roles and discuss and debate their final marketing strategy. A summary discussion of the similarities and differences in strategy can then be conducted, making the whole exercise around 1 to 1.
The new flavor outperformed both traditional Coke and Pepsi in market research taste tests. Many consumers saw Coke as a cultural icon and were angry that it was no longer available.
They had achieved success through a strategy of outsourcing manufacturing and logistics to licensed bottlers, strong retailer relationships, and building a very strong brand.
In its early years, Pepsi positioned itself as a discounter and sold its product for half the price of Coke in a larger bottle.
Because of this initial relative competitive position, Coke believed their product was superior and that they had an entitlement of being the market leader. Whereas Pepsi always saw themselves as the challenger and tended to be more aggressive in their marketing tactics as a result. Its reintroduction was driven by John Sculley, who would later go on to run Apple and sack Steve Jobs.
At the same time, it was designed to reposition Coke in the minds of the consumers as old, tired and boring. The Pepsi Challenge consisted of a blind taste tests with consumers. Occasionally deals were struck, at a university or college campus for example, for the university to switch to Pepsi if they won.
Needless to say, Pepsi consistently won all the Pepsi Challenges — usually by a narrow margin. The cumulative impact of all these marketing activities by Pepsi against Coke were designed to reposition the brands in the minds of the consumers, as shown in the following perceptual map. He was involved in editing the TVC.
Coke was able to maintain its market share lead because of its distribution and retailer relationships e.
If you continue browsing the . In this modern age, being up to date with the new market tools and strategies is a big factor to penetrate the new market.
I would like to seek those marketing people today, what can you suggest to an old manufacturing company to gain new customers and opportunities? Viral marketing is a powerful tool that can spread the message of a company or product to a broad range of people in a short period of time.
While viral marketing is often spread through social. Subjects Covered Brand management Business growth Business marketing Business policy Crisis management Diversification Family-owned businesses Marketing strategy.
The quote is this: “Red Bull is a media company that happens to sell energy drinks.” (See this article from NewsCred, “7 Content Marketing Lessons From Red Bull Media House,” for some still valid observations about the company and its marketing strategies.).
Marketing ideas, sales strategies, and customer service tips for small business. Saying "thank you" is a simple marketing strategy that can make your business stand out from the competition. But just printing it on your receipt and even saying it face to face isn't enough.
Get ten of the lessons in this excerpt from Marketing Lessons.