Marketing Management Of Coca Cola Essay
There is a distinct difference between days of old and modern times in the beverage industry. The Coke of today is not our founder’s Coke and it cannot afford to be. The Norman Rockwell days of Coca-Cola are gone, but Coke must not forget that the ethics of that era should be retained within the company’s core values. In order for Coke to stay ahead, and in order to regain control of the majority portion of the beverage market, Coke to step back and reevaluate the company, how the company is conducting business, what led Coke to success in the beverage industry, and determine how Coke can implement innovation, in order to regain control of the beverage market.
Innovation and Strategy
Marketing Executive Mary Minnick is on point with bringing a mix-up to the market. Ms. Minnick proved these mix-ups in the traditional market were not only worth exploring but she proved their worth in the Asian market, “by introducing 30 to 40 new products per year” (Sellers, 2006). Just as Ms. Minnick did in Japan, Coke (in North America/USA) needs to get down in the weeds and get to know the customer and his and her needs.
Once Coke believes they know the customer, Coke needs to develop products to meet those needs. Then the company needs to quickly cut through the executive hierarchy of red tape and get a representation of these products on the market floor, so that both the research and development team and the marketing team can receive some rapid feedback…