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Marketing Plan For Milk Tea Essay

7890 words - 32 pages

* 1. Student Names & McGill ID BRILLANT, Aïsha 260194236 CHENG, Chin-Yun 260014110 JOLIN LESSARD, Audrey 260180785 LEBLANC, Geneviève 260188501 MURCIA, Nicolas 260177704 NGUYEN, Jean-Louis 260078995 TIAN, Yu 260177360 Course Information Marketing Management I MCGR 352, Section 005 Professor: Constantina Kavadas Marketing Plan Part 1: Market and Consumer Profile Date of submission: Wednesday, March 29th, 2006 2
* 2. The following marketing plan forms the basis for the introduction of an innovative new product by the Coca-Cola Company. The analysis allows us to outline the best strategies to follow for the achievement of the company’s strategic goals. “Bubble Buzz” will be marketed as ...view middle of the document...

1, p.1). 3
* 3. Brief description of the new product, & strategic role in the future position of the company “Bubble Buzz” will be a bottled beverage and will be positioned as the only ready-to-drink Bubble Tea product available on the market. The beverage will have a green tea base with enhanced fruit flavors (passion fruit, strawberry and lime) as well as tapioca pearls. It will bring an entirely unique drinking experience to its consumers. It will present itself as a funky and unusual alternative to traditional tea while providing the great taste of authentic fruit juice in an attractive and convenient packaging. The strategic role of Bubble Buzz for The Coca- Cola Company is centered around three objectives: To stay at the forefront as the market leader in innovative product introductions and successful product launches; To strengthen and satisfy the needs of the more adventurous Generation Y consumers with a new eye-catching and FUNctional product; To become the market leader in the functional drinks segment with increased market shares. INDUSTRY ANALYSIS Consumption: The sales volume for the functional drinks segment (ref. D2) in Canada has reached $342.2 millions in 2004 for a volume of 125.9 million liters (ref.2). This product segment has shown a steady growth since 1999: an increase of 13.5% over a period of 6 years (Appendix A). The consumption rate per capita in 2004 has reached 4
* 4. 3.94 liters, which represents a 4.0% increase compared to 1999 (ref.3). The growth of this particular market is largely due to a slow shift in consumer trends. Trends: Through the early 1960s, soft drinks were synonymous with “colas” in the mind of consumers. In the 1980s and 1990s, however, other beverages (from bottled water to tea) became more popular. Coca-Cola and Pepsi responded by expanding their offerings through alliances (e.g. Coke & Nestea) and acquisitions (e.g. Coke & Minute Maid), but also by focusing efforts on portfolio diversification. Today, while the soft drink industry’s value has increased in 2004, the volume sales of carbonated soft drinks has declined due to a large proportion of consumers who are opting for the trend towards healthier alternatives in the functional drink segment (energy drinks, smoothies, milk & juice drinks, sports drinks) as well as bottled juices and water (ref.5). Companies have been actively engaged in new product developments in order to counter the growing concerns about negative health impacts of high-fructose drinks, but also to increase the demand in a market where product offerings are quickly maturing (ref.4). New flavor introductions and health-conscious formulations have been launched in an attempt to offset the decline in carbonated soft drink sales (ref.6). The functional market is expected to show sustained growth and consumer interest in the future years as consumption shifts to trendier, healthier and more sophisticated products (ref.7). Profitability & future growth...

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