Expert answer:1-2 Milestone One: Justification
Solved by verified expert:My company is Coca-Cola and my product is a ready-to-drink (RTD) product. I have attached my previous paper as a reference point.
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MBA 705 Milestone One Guidelines and Rubric
Overview: For the capstone assessment, you will create a business implementation plan and audiovisual presentation for the product, service, or idea you have
been developing throughout your MBA coursework.
In Milestone One, you will submit the justification for your idea or concept. You will connect entrepreneurship or intrapreneurship with organization change and
survival. This milestone lays the foundation for the rest of the project by outlining the justification of an idea or concept. Ultimately, the justification in this
milestone will provide much of the reasoning that decision makers will use to determine if they will fund your idea or concept.
Critical Elements:
Rationale: Lay out the rationale for the idea or concept.
Problem or Opportunity: Identify the problem or opportunity that the idea or concept addresses.
Market: Analyze the market for the product or service.
Competition: Analyze the key features that set the product or service apart from the competition.
Company: Explain how the concept fits with the mission, vision, and priorities of the company implementing the product or service.
Innovation: Discuss how or why the product or service is innovative.
Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page and references)
using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to
successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA
guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page.
Critical Elements
Main Elements
Critical Thinking
Rationale
Problem or Opportunity
Market
Competition
Proficient (100%)
Includes most of the main elements
Provides logical conclusions and defends with
examples
Provides rationale and thoroughly defends it
Identifies the problem or opportunity and
includes a detailed description of how the
idea or concept addresses the problem or
opportunity
Analyzes the market for the product or
service and quantifies market size
Analyzes key features, outlines how these
meet unmet customer needs, and explains
how the key features set the product or
service apart from the competition
Not Proficient (0%)
Does not include any of the main elements
Does not provide logical conclusions
Value
15
15
Does not provide rationale
Does not discuss the problem or opportunity
10
10
Does not analyze market for product or
service
Does not provide key features
10
10
Company
Innovation
Articulation of Response
Explains how the concept fits with the
mission, vision, and priorities of the company
implementing the product or service, and
connects this information with long term
organizational strategy
Discusses how or why the product is
innovative and situates the product or service
within the implementing company’s larger
product or service portfolio
Submission does not have critical errors
related to citations, grammar, spelling,
syntax, or organization that prevent
understanding of ideas
Does not explain how concept fits with the
mission, vision, and priorities of the company
implementing the product or service
10
Does not discuss how the concept or idea is
innovative
10
Submission has critical errors related to
citations, grammar, spelling, syntax, or
organization that prevent understanding of
ideas
Total
10
100%
COCA COLA COMPANY
Stephanie Kimber
MBA-705
September 6, 2017
Rational
The Coca Cola company is perceived to be the most famous trademark on the globe, and
it is equally so. The company claims more than 400 brands that appeal to a wide range of
individuals throughout the world. They are in a position to fulfill needs of every one of their
buyers making their experience with their beverages a better one. The entity’s drinks entice a lot
of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as
its items are sold in over two hundred countries in the world, while major contenders like Pepsi
are just available in very few countries. Such a competitive advantage has placed Coca Cola in
front of all its rivals. The organization’s products are easily identified and recognized by all
(Bell, 2013).
The popularity of the company has made it an exceptional and unmistakable group. Due to
its branding, Coca Cola has been able to do well and grow regarding revenue, a factor that will
continue. The profits are key aspects have enhanced its promotion of some of the new products
and their advertisements. Coca Cola as it considers the advancement of numerous different items.
Multiple aspects of Coca-Cola turn out to be better than that of contenders, from corporate structure
to promotional techniques. Some of this entail, implementation plan, positioning and market mix
strategy. These perspectives place Coca-Cola way in front of its competitors, instilling hope to the
company for higher targets and objectives. It is the organization’s primary goal to refresh and
fulfill the world. It is their vision to make their products to be within reach regardless of their
geographical positions. A number of changes have occurred in the company since its incorporation.
Most of these changes are geared towards accelerating the growth of the company Among them
include the purchase of other brands that are doing well in the market and investing in global
marketing campaigns like the one brand campaign. Another very significant change that has been
noted worldwide is the introduction of several other brands of Coke that are being marketed under
the one brand campaign. These are the diet coke, light and zero. These brands are meant to target
the brand’s loyal customers that would still want to watch their sugar intake (De Mooij, 2013).
A range of ready-to-drink (RTD) beverages in the first quarter of 2017. These products
include RTD coffee, tea lattes, ice coffee, and other products that will be unveiled in due course.
These efforts are Coke’s strategy to increase their revenue by following consumer trends
around the world. The Global Health and Wellness report by Nielsen (2015) inferred that 49% of
respondents believe that they are overweight and 50% of them are trying to lose weight. The
study also derived that younger consumers in the emerging markets are increasingly more
willing to pay a premium for healthy products (Nielsen, 2015, p. 2). Since Coke has a huge
presence in the emerging markets, the demand for healthy products mean that sales for indulgent
categories will dwindle over time. To respond to these shifts in consumption, Coke has
responded by designing products health-centric products while still fulfilling the refreshment
needs of customers.
Opportunity
For any organization to do well in its field, it needs to have a clear view of its client’s
needs. For Coca-Cola organization to completely have this aspect clearly, they must set out on an
exercise to decide the customer’s loyalty, satisfaction, and behavior. Soft beverages, unlike
alcoholic, can get categorized under a low involvement group of products. It is because of it’s
inexpensive to purchase nature and its availability to the clients (Noe, 2013). Recent studies
indicate that, lately, for one to buy a soft drink there is an in-depth decision making required.
The Coca-Cola organization has made exemplary strides mainly to offer a variety of
products to its clients even with the competitive nature of the market. Consumers’ choice gets
based on the brand aspect in which the organization wins most customers’ heart against its rivals.
Even though a significant number of people deny cases to having inclination picking between
Coca-Cola items or its rivals’, many have a strong desire in some way. Many inclines toward
Coca-Cola products since the organization has more than hundred years of history and
predictable brand image. This picture is engraved in a lot of people subsequently end up
purchasing their beverages. It is out rightly conspicuous in the company’s high market share in
the field of soft drinks.
Aside from accentuating on client behavior, consumer satisfaction likewise plays a vital
role in deciding on the real revenue-boosting factors offer more priority to a business decision
that ends up in customer loyalty. Studies show that the Coca Cola Company has the most
exceptional reputation as far as the field of manufacturing of soft drinks is concerned. It was
even granted as the fifth best in the section of most recognized bodies in the year 2013 across the
globe in which its primary opponent came in at position 10. Statists additionally have it that, the
phrase or the name “Coca-Cola” gets searched nearly ten times more than its first rival Pepsi.
This statics is as indicated by the Google Trends.
Another pointer is through the online networking. Coca-Cola has more than 89.8 million
preferences against Pepsi’s 34 million likes on their separate fan pages on Facebook. Indeed,
even with the brand acknowledgment and high popularity, that the organization shows in the soft
drinks industry, Coca-Cola organization still have its undertakings at a reasonable level
crosswise over different metrics. Even with consumer-packaged commodities have no services
component; most customers still prefer to purchase a package. Along these lines, consumer
satisfaction for organizations in this field is an essential determinant of client loyalty.
Company
Brand equity or value alludes to a brand’s capacity or power extracted from name recognition
and most critical of all the goodwill that it has earned after some time. It translates into its
business sales shooting up the rooftop consequently encountering higher net revenues against
competing brands. Brand equity metrics is vital in that; it is a technique used in determining the
value of the brand which incorporates a logo, name and different aspects that recognize an
individual item or services (Shimp, 2013). It comes in handy in advertising, packaging,
promoting and various types of marketing correspondences focal point of the relationship of the
item to the customers.
As far as the organization is concerned, somebody may argue out that it is not the organization’s
beverages that have made it an outstanding brand amongst others across the world. In any case, it
is the entire advertising strategies that the firm utilizes which has influenced it to boost its
recognition amongst its customers. The organization has likewise pumped resources into modern
marketing techniques, for example, supporting and funding huge events, for instance, Coke
Studio, Olympic Games, BET, American Idol, NASCAR, NCAA, and the NBA. These are the
most watched games and programs over the world subsequently giving Coca-Cola organization a
global appearance (Pride, 2017).
The organization’s growth is because of three fundamentals factors, industry development
particularly the non-alcoholic sector is one of the examples. Recent statistics did show that CocaCola boasts of a five percent expansion in its yearly growth. However, the management shows
that this sort of development is not uniform in all of all categories and markets since value
increment in developing markets has declined in a previous couple of years because of the
pressure heaped on proper utilization expenditures (Shimp, 2013). The second driver is the
organization’s growth in its shares in which it is said to have outflanked the worldwide industry
in the thirty back to back quarters consequently gaining global value shares in that specific time
allotment. Price realization is the third and last development factor. It is mostly considering value
is enhancing cost architecture in which the organization primarily concentrates on expanding the
beverage events and not just improving their soft drinks.
Marketing
The body utilizes a few techniques for its coordinated marketing correspondences. Taking a case
of a pattern in the organization’s adverts which they give alternate and new information
concerning the drink yet at the same time keeping up and emphasizing how incredible the drink
is. These approaches get utilized by the Coca-Cola organization include; interactive marketing,
direct marketing, advertisements, public relations and social marketing. It is, in this manner,
therefore, that the firm makes use of broad category media platforms for purposes of
advertisements. These avenues of media entail billboards, commercials and point-of-sale tools
which include those merchandising materials that get used for communicating to clients via viz
coolers, equipment used to sell their beverages and display racks. Lately, the organization’s
adverts highlighted on AdAge’s incorporated one that got launched in the year 2010 named “The
Happiness Machine,” and another done in 2008 known as “It Mine.” All have been instrumental
in fueling “Coke To the side of Life Campaign” to success. Also, Coca Cola Company utilizes
the strategy of direct marketing as far as integrating marketing communication is concerned. This
approach involves making agreements with clubs and hotels to offer their soft drinks and
beverages. Coca-Cola is additionally taking advantage of global sports and games events where
they sponsor them hence using their names. With such a strategy, Coca Cola builds on to its
customer database.
Competition
Interactive online networking has also been another channel that the organization has used
to reach to most of the clients. Along these lines, they employ the methods of “fans first” technique.
By increasing its online networking appearance, the company has been able to obtain more than
91 million likes and followings on their Facebook fan page. The Enterprise played host to a
campaign named #CokeGames on Facebook and Instagram in the year 2014. This sort of
interactive approaches came into place because of the Olympic Games that were ongoing at that
period. They additionally facilitated occasions, like, “CokeCurling” And “Speed Sipping.” The
organization posted on its Facebook fan page that Speed skating is fun; however, Seep shipping is
delightful. With this well-crafted and innovative approach, the company boosted their brand
awareness (Frey, 2014). These changes have definitely been of great benefit to the company and
the industry at large. The impact they have had is invaluable. Coca-Cola has gained a competitive
advantage as compared to the other companies in the same industry like Pepsi (De Mooij, 2013).
The fact that the Coca-Cola brand meets the needs of all its consumers and has a distinct taste
makes it the go-to brand for anyone who thinks of a soft drink. The company has gone ahead to
change the packaging of most of its drinks to make them travel-friendly thus increasing sales and
consequently customer loyalty (De Mooij, 2013). Unlike the competitors in the industry, CocaCola has a variety of flavors to its range of products, a factor that has enabled the company to meet
the diverse needs of its customers. It can, therefore, be concluded that change has been of great
benefit to Coca-Cola as any move it makes seems to yield more revenues for the company.
One major opportunity that necessitated change is the need to reach out to consumers that
do not prefer a high sugar intake. This, Coca-Cola did by adding to its Coke product line a brand
that does not have a lot of sugar. As mentioned earlier, they include the diet coke, light and zero
zero. By so doing, the company was able to reach out to a market niche since no other company
had noticed the gap in the market (De Mooij, 2013). Another opportunity that necessitated change
is the strength of the brand (De Mooij, 2013). Since Coca-Cola knew they had a strong brand, they
took advantage of this and started producing the Dasani water. The strategy was successful because
the already existing loyal soft drinks customers were also the target market for the same. For this
reason, success was guaranteed.
Innovation
Looking at the pricing methodology that Coca-Cola organization took is an appropriate one. It is
so since they are organized in a manner to offer its customers value for their cash. The pricing
framework is crafted and has its foundation on cost. On the other hand, they are intensely and
similarly anchored on demand and competition. As far as research is concerned, we get the chance
to understand that the cost of creating a bottle of 18oz Coca-Cola drink is estimated to be $0.05.
The organization hardly bases its beverages and soft drinks on customer’s perception and
competitive frame of the brand. Along these lines, the evidence of its pricing structure lies
determinedly on the cost of Coke bottles in retail shops, where customers must buy a 18oz bottle
of Coke for $2.29 and in this manner 12oz container for $1.69 than more than twenty times of its
original processing price. Keeping prices low and moving into a new product margin is always a
way to stay innovative amongst your competition. Developing a new product, such as the green
tea will keep Coca-Cola in their own field as far as a healthier alternative goes.
References
Bell, L. (2013). The story of Coca-Cola. North Mankato, Minn.: Smart Apple Media.
Frey, A. (2014). The effective marketing mix. [Hanover, N.H.]: Amos Tuck School of Business
Administration.
Nielsen (2015). We are What We Eat: Healthy Eating Trends Around the World. The Nielsen
Company, p 2. Retrieved from goo.gl/EiHvTc
Noe, R. (2013). Human resource management. New York: McGraw-Hill/Irwin.
Pride, W. (2017). Foundations of business. New York: Cengage Learning.
Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing
communications. Mason, OH: South-Western Cengage Learning.
COCA COLA COMPANY
Stephanie Kimber
MBA-705
September 6, 2017
Executive Summary
The Coca Cola company is perceived to be the most famous trademark on the globe, and
it is equally so. The company claims more than 400 brands that appeal to a wide range of
individuals throughout the world. They are in a position to fulfill needs of every one of their
buyers making their experience with their beverages a better one. The entity’s drinks entice a lot
of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as
its items are sold in over two hundred countries in the world, while major contenders like Pepsi
are just available in very few countries. Such a competitive advantage has placed Coca Cola in
front of all its rivals. The organization’s products are easily identified and recognized by all
(Bell, 2013).
The popularity of the company has made it an exceptional and unmistakable group. Due
to its branding, Coca Cola has been able to do well and grow regarding revenue, a factor that will
continue. The profits are key aspects have enhanced its promotion of some of the new products
and their advertisements. Coca Cola as it considers the advancement of numerous different
items. Multiple aspects of Coca-Cola turn out to be better than that of contenders, from corporate
structure to promotional techniques. Some of this entail, implementation plan, positioning and
market mix strategy. These perspectives place Coca-Cola way in front of its competitors,
instilling hope to the company for higher targets and objectives. It is the organization’s primary
goal to refresh and fulfill the world. It is their vision to make their products to be within reach
regardless of their geographical positions.
Behavioral Analysis of the Company
For any organization to do well in its field, it needs to have a clear view of its client’s
needs. For Coca-Cola organization to completely have this aspect clearly, they must set out on an
exercise to decide the customer’s loyalty, satis …
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