In their constant battle with Pepsi over market share, Coca Cola puts a lot of emphasis on brand recognition in and attempt to increase the sales of existing products in existing markets. Finally, the use of the market development model is evident by the fact that Coca Cola is the world’s most recognized brand. Coca Cola, unlike Ruth’s Chris, enters into markets that are undeveloped. They provide a highly commoditized product for a very low price. This allows them to have a larger geographical footprint than Ruth’s Chris.
For instance, to run a success business, a firm must know how to dissolve in different culture. Coca-Cola knows people from different culture, so they use their innovation to mix different cultures. Coca-cola came out with cans of Coca-Cola drinks with design of Chinese New Year during festive seasons to boost up their sales and celebrating festives with their customers. Coca-Cola focus more on market and work smart. Generally, comparing with old generation, Coca-Cola seems more popular in the younger groups.
Items to consider include interest rate, exchange rate, economic growth, inflation, monetary policy, unemployment, income distribution, infrastructure costs and availability, consumer expenditure, foreign direct investment (Jeff, 2008). Economic factor impacts directly Starbucks performance through the income distribution in Vietnam market. The
Coca cola on the other hand is present only in the beverages section. The advantage of Pepsi’s snacks segment is that brands like Lays, Kurkure and Cheetos are in great demand. Quaker oats which is a recent addition is also increasing in demand. Thus the turnover resulting from the Food products is helping the bottom line of the company. Price in the marketing mix of Pepsi Pepsi is in an industry which is dominated by the two biggies – Coca cola and Pepsi.
Later on Pepsi introduced the Pepsi Challenge where the consumers were blinded to taste between Coca-Cola and Pepsi and everyone seems to prefer the taste of Pepsi to Coca-Cola. Since, the market share of Pepsi was increasing fast, Coca-Cola decided to come out with something new. After taking into considerations that the taste was the key factor that led to the success of Pepsi. Therefore, in 1985 Coca-Cola introduced a new product called New Coke replacing the old Coke. After the introduction of New Coke, people started going against the New Coke as many felt that Coca-Cola was considered part of their lives and felt that something was taken away from them.
THE NUMBER AND PRICE OF COMPLEMENTARY GOODS: Coca cola is generally served at KFC and McDonald’s, increase in the price of these complimentary goods causes a decrease in the demand of Coca Cola. Hence we can say that there is an inverse relationship between the complementary goods price and demand for Coke. 4. CONSUMER TASTES AND PREFERENCES The more a product is found desirable the more likely will the person buy it. Effective advertising and positioning attracts customers.
1.2. Product Differentiation This refers to differentiation that aspires to make a product more attractive by contrasting its unique qualities with other competing products (Investopedia, 2015:1), as in the case of Coca-Cola, other soft drink brands. Successfully adopting this strategy would have a company gaining a competitive advantage, as the customer would then view the product as unique or superior. This is what coca cola has managed to do, and has managed to do it on a scale that is globally unique, and globally recognized. Much proof would indicate that Coca-Cola has definitely chosen a differentiation strategy since its early days.
Coffee is the second most consumed beverage in the world, behind water. There are many people consume it everyday. They consume coffee at least 1 or more cups of coffee per a day. In addition, coffee is not only popular among adults but teenagers also drink it. In fact, there are caffeine and sugar in coffee that has pros and cons which affects consumers’ health such as physical health or mental health: increasing heart rate, obesity, headaches, blood pressure, etc.
2. Product Development means to increase sales by improving or introducing a product which fulfils the demands of the market. For example: Coca Cola introduced Coke Zero, Coke Diet, to target the health conscious customers. 3. Market Development focuses on increasing the sales for an existent product by introducing it into new markets.
When actually the healthy group decreases their risk of diabetes, high blood pressure, diabetes and other heart problems, while the unhealthy group increases their risk. One issue that is not understood yet is what happens when you consume a sweetener via diet or in other form. Artificial sweeteners impact may be different on the healthy eaters than the junk food eaters. It is likely that the obese subject who struggles to eat healthy may gain weight because the artificial sweetened beverages maintain the taste preference for sweetness. With that preference it will lead to the consumption of sweetened products high in sugar and fat causing weight gain.
By 2026, it is estimated that there will be over three million people with disabilities over the age of 65, this is almost double the 1.6 million reported in 2001. Increased disability is often what leads seniors to require long-term care outside of their normal residence. Long-term care facilities, also known as retirement homes charge between $1,700.00-$2,400.00 per month and often have long wait lists to acquire a room. These monthly fees are said to include, a room (often shared with another resident), food, care, laundry, housekeeping and some medical services. The level and quality of care can vary greatly between facilities and the higher the quality usually results in a longer wait list and monthly fees that are on the high end of the cost