StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The 5 'I's - Assignment Example

Cite this document
Summary
The key ideal that will make the new product to be successful is based on the high value Coca-Cola places on its product. In addition, the company ethical…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.9% of users find it useful
The 5 Is
Read Text Preview

Extract of sample "The 5 'I's"

14th March 5 ‘I’ Innovation Method Tool Ideals Coca-Cola Company, the world leader in the non-alcoholic beverages industry is in a process of launching a new product. The key ideal that will make the new product to be successful is based on the high value Coca-Cola places on its product. In addition, the company ethical values that include production of safe brands that are environmental friendly will significantly enhance demand and the sales volume of the new product.IdeasDue to the high demand of Coca-Cola products by middle aged consumers, old and young consumers have not been adequately considered.

This acts as the key inspiration that trigger the company to initiate a low sugar product that meets the needs of young children and old customers who are loyal towards the company products.Initiative In order to be successful in the soft drink market that is characterized by stiff competition, strong marketing team will be employed to carry out intensive market research. Through the use of feedback from parents and young consumers, the company will ultimately produce a quality brand that effectively puts at bay its competitors.

Additionally, promotional strategies that include free samples, competition and road shows will greatly influence the demand of the new product among the young consumers.InvestmentTo be successful in the market, Coca-Cola will need to emulate various initiatives. First, duration of approximately 3 months is needed to undertake market research. After the research, the company needs to adopt marketing strategies for 6 months in order to create strong customer awareness (Tuomi 35). This implies that the company should employ various avenues of advertisement such as television, magazines as well as social sites including face book and twitter.

For these strategies to be effectively put in place, the company requires approximate US $250,000 per year.InventionTo meet the high demand of its product in the market, the company will need to produce large volume of syrups in it production facility. In this regard, the technical team will be expanded and new machines will be put in place. Additionally, the company will adopt an effective communication system to monitor the sales of its new product in the current and new markets. Through the coordination of the 5 ‘I’, Coca-Cola will be not only successfully penetrate new markets but also it will expand its customer base an aspect that will contribute to its sustainable profitability.

Works CitedTuomi, I. Networks of Innovation. Oxford: Oxford University Press, 2002.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The 5 'I's Assignment Example | Topics and Well Written Essays - 250 words”, n.d.)
The 5 'I's Assignment Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/business/1591324-the-5-is
(The 5 'I'S Assignment Example | Topics and Well Written Essays - 250 Words)
The 5 'I'S Assignment Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/business/1591324-the-5-is.
“The 5 'I'S Assignment Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/business/1591324-the-5-is.
  • Cited: 0 times

CHECK THESE SAMPLES OF The 5 'I's

BUS 499 MoD-5 (SLP) Integation Causal & Strategy

One aspect of the strategy deals with cost reduction by means of restructuring of internal processes of the company.... Implementation of this strategy would provide a basis for low-price strategy.... In this way the company will be… This unique selling proposition of the company will play a vital role in enhancing customer satisfaction and most importantly its financial ooking at this strategy and its impact on financial performance, it can be concluded that this strategy will lead to an increase in revenues, which in turn would lead to greater operating profits and net income....
3 Pages (750 words) Essay

What Is Morality DB Unit 5

Deontological is a non-Consequentialist and duty oriented moral approach.... It entails a person's conviction of taking the rightful, honorable, and just step regardless of its outcome.... At workplace, the concept of right and wrong is derived from the policies.... David does… Moreover, the boss also imposed restriction on researching and hence, it became his duty too....
1 Pages (250 words) Assignment

Why Is a Post-Modern Style Appropriate to Its Themes

The paper “Why Is a Post-Modern Style Appropriate to Its Themes?... rdquo; seeks to evaluate “Fight Club” by Chuck Palahniuk, a novel that has been written using the post-modern styles of writing.... The main indicators of the use of the postmodern style in the novel are the use of techniques such as paradox....
6 Pages (1500 words) Assignment

Testing Statistical Hypotheses

Unlike a scientific theory which is an acceptable proposition describing a phenomenon, a hypothesis has to be tested thoroughly in order to determine whether to reject or not reject it.... In every proposition… Alternative hypothesis on the other hand is the proposition that prevails in the event that there is sufficient evidence to reject the null hypothesis....
2 Pages (500 words) Essay

Internal Revenue Service

Communication goes through when the recipient receives the message from the sender and understands it as expected by the sender.... In the case of… An internal revenue service in the U.... .... was established by the federal government.... The organization is accountable for the assortment of taxes. Majority of the callers have very little understanding of the tax INTERNAL REVENUE SERVICE INTERNAL REVENUE SERVICE Communication the process whereby there is passing off a message from the source to the respondent through a transmitter....
1 Pages (250 words) Essay

Art is a product of its context

The following essay represents a critical analysis of three different and distinct examples of arts: Paleolithic Art, Neolithic Art and Sumerian Art.... Doing the analysis, the writer will also discover some of the art aspects and tell about the intention of the art overall.... hellip; Art can be defined as the human effort to imitate, supplement, alter or counteract the work of nature....
3 Pages (750 words) Essay

Is the Disney Used M&M's World Better than M&M's Typical McDonaldized Selling the Place

The question of whether the Disneyised "M&Ms World" is better than M&Ms typical McDonaldized selling place is only answerable after consideration of several factors notable in the branded space of the two companies.... The two companies have different approaches to their space… Every company has its main segments under which it generates fame....
10 Pages (2500 words) Research Paper

Business Proposal for Taco Bell

The restaurant will offer steaks, pork, hamburgers, salads, and roasted chicken.... The restaurant will offer exclusive selections of the… The restaurant shall be operated by Taco Bell operated and managed by an independent franchise (OFallon, 2011).... The food chain company has an elaborate experience in the food industry for close to seventy years....
5 Pages (1250 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us