Ch. 11- Developing and Managing Products

Many companies attempt to introduce new products to sustain growth and profits.
a company first forms a new product strategy by outlining the characteristics and roles of the future product. Ansoffs matrix is a useful way for understanding a company's product range. this compare developing new products in new markets.

COCA-COLA DEVELOPING PRODUCTS STEPS

1.  Market penetration: Selling more of the same types of the same products to the same type of people.
2. Product development: Building existing relationships with consumers and on creative ability to develop new products suited to consumer wants.
3. Market Development: Developing an existing product to cater for emerging markets.
4. Diversification: Developing new products for new markets.

Coca-Cola Market Development

Ch. 8 - Segmenting and Targeting Markets

A market is a organization or people with needs or wants and the ability and willingness to buy. within in the market is a market segment which is a subgroup of people or organization sharing more than one characteristic that cause them to have similar product needs. within in the market segment is market segmentation which is the process of dividing a market into meaningful, similar, identifiable segments or groups. When Segmenting a market many factors come in play. for example like geographic factors and demographic factors. geographic factors relate to regions country of the world ,market size  and climate. demographic factors relate to age, gender, income, ethnic background and family life cycle.



Coca-Cola is sold all over the world so there is no specific Geographic segmentation. One thing is the flavor of Coca-cola differs in different countries. For Demographic Segmentation Coca-cola does not really have a specified target. Coca-cola Is targeted to nearly all ages, gender, income and ethnic background.
Coca-Cola Positions its product as refreshing in thirst quenching. The product has been said to bring joy. the product is linked with having good time with friends and family and enjoying life.  its also been marketed as a high quality drink.

Ch. 15- Marketing Communications

 Media is one of the most effective Advertisement used in marketing a product or service. There are three types of media mentioned in this chapter. Paid media, Earned Media, and owned media. Paid Media is a promotional tactic based on traditional advertising model whereby a brand pays for media space. Earned Media is a promotional tactic based on a public relations or publicity model that gets customers talking about products or services. Owned Media a promotional tactic based on brands becoming publishers of their own content in order to maximize the brands value to customers. Coca-cola uses a mix of all three. Cola-cola use paid media when posting banners all around the country or sponsored ads in movie theatre's or even in movies. Coca-cola uses owned media when posting on their social media websites such as twitter, Facebook, or their original coca-cola sites. this is used to create publicity for the product and to get people to talk about it. Social media can also be a part of earned media. 

Ch. 10 - Product Concepts

Coca-cola is one of the biggest drinks manufacturing company in the world for over 150 years. The company developed many products besides coca-cola. Product Mix is all the products that a company sells. Coca-Cola happens to sell a variety of products ranging from soft drinks, tea, water, energy drinks, and juice. There Are Many products with in the product line. A product line is a group of closely related product items. Coca-Cola offer thousands of drinks across the world

Ch. 17 - Personal Selling and Sales Management

Relationship selling is a sales practice that involves building, maintaining, and enhancing interaction with customers in order to develop long-term satisfaction through mutually beneficial partnership. Although Coca-cola does not sell directly to the consumers it does have a method in which the company keeps in touch with consumers.this is called identifying the customer relationships. Coca-Cola uses the knowledge management process. the process is learned information from customers is centralized and shared in order to enhance the relationship between the company and consumer. Coca-cola use social media to directly answer questions or problem concerning the product.