Principle of Marketing Case Study Example | Topics and Well Written Essays - 2000 words

Principle of Marketing - Case Study Example Coca Cola offers more than 400 hundred brands in over 200 countries.2.The five brands of Coca Cola are as follows- Product life cycle can be explained as the different stages starting from the introduction stage to the decline stage that a specific product goes through. Product life cycle assessment is conducted to find out the current life cycle stage of the product. Life-cycle assessment aims to find out the environmental burdens throughout the whole life-cycle of a product starting from raw material procurement, production, use and finally to disposal.3 Consider the extension of product life cycle and the Jenkins customer growth matrix. Identify and discuss how Coca Cola might have applied these models to help ensure the continued success of Coca Cola products in the market place. Extension of product life cycle and Jenkins customer growth matrix might have been applied by Coca Cola for ensuring the continued success of the Coca Cola products in the market. It is being explained below. Existing customers-existing products: only a very few companies have a 100% share of customers share. Customers buy a product marketed by a variety of marketers. Only true-blue customers always buy the same product marketed by a specific company. ... It is being explained below. Existing customers-existing products: only a very few companies have a 100% share of customers share. Customers buy a product marketed by a variety of marketers. Only true-blue customers always buy the same product marketed by a specific company. Coca Cola could have trued to increase its share of customers' expenditure by increasing its sale among the potential consumers. As Coca Cola has already a wide distribution channel and global presence, by implementing this growth strategy Coca Cola could have expanded its client base. Existing customers-new products: This growth strategy calls for introduction of new products targeted at the existing consumers. A company has to be able to crate value through introduction of new products. Coca Cola could have introduced new products targeted at the existing consumers. A Coca Cola has a vast number of loyal consumers across the globe; Coca Cola could be taken advantage of its position in the existing consumers mind. Considering the image of Coca Cola and its current loyal customer base across the globe, implementation of this strategy could have brought positive results for Coca Cola by strengthening its bottom line. Existing products-new customers: This growth strategy requires expanding the current customer base through increasing market share. Coca Cola could have used this strategy considering its global presence as well as splendid brand equity. Attracting new customers to its wide array of brands could be easier for Coca Cola as its products are viewed as superior than its competitors' products. Furthermore, the existing heavy users could also have been utilized for marketing campaign in the form of WOM (word of moth).