I HAVE ATTACHED MY PREVIOUS PAPER, I GOT AN F. I WILL LEAVE MY COMMENT FROM MY PROFESSOR RIGHT HERE “Hello Jaclyn-for this course you are adding a new product or service to the company’s current portfolio. Your paper seems to analyze current strategies they are employing. I encourage you to resubmit with an additional service or product to offer.” I NEED A NEW PRODUCT THAT COCA-COLA CAN OFFER (I.E. NEW SOFT DRINKS OR SOMETHING ALONG THAT NATURE)
My Company that I chose is on Coca-Cola This milestone establishes your chosen organization’s direction within the market place. This is important because it drives the subsequent activities, milestones and the final project. Without a strong sense of the organization’s purpose within the market place, knowledge of consumer trends, and how to meet target market needs at the appropriate price, management is less likely to maximize the efficiency of business activities and more likely to miss fully meeting the needs of its chosen target market. This milestone establishes how the organization will differentiate itself from its competition through branding with a unique product or service offering designed to meet specific consumer needs or desires that are shaped by their demographics, personality, or buying style. Specifically, the following critical elements must be addressed SectionTwo: Branding and Idea Context 1.)Corporate mission and how the new product or service aligns with it 2.)Defining features of the product/service 3.)How the product will be marketed internally and externally 4.)How the company is differentiating from competition Alignment of pricing with market position and corporate mission 5.)Your substantiated opinion of brand effectiveness
Section Three: Defining Product or Service Need For your idea, 1.)Behavioral and/or lifestyle demographics of the targeted consumer or buying style of organizational buyer and why they are a good choice 2.)What unsatisfied need the product/service fulfills 3.)How the customer/buyer seeks information to fill the need 4.)How the product is purchased(characterize the buying situation) 5.)Why your chosen target market is the best choice Section Six: Pricing
1.) Explain the fixed and variable costs and how these fit with the company’s short and long-term goals. 2.) Use a narrative with a table to show calculations for cost categories. 3.) Provide reasonable estimates for each of the categories. 4.)Specific or in-depth financial analysis is not necessary. 5.)Examine competitors’ pricing and explain reasoning for differences 6.)Estimate how much you think the target market is willing to pay for your product/service. 7) Is this due to preferences for social responsibility, ethical behavior or other intangibles 8.)What pricing strategy (skimming, penetration, economy or premium) is most appropriate and why?
Guidelines for Submission
Milestone One should utilize double spacing, 12-point Times New Roman font, one-inch margins, and discipline appropriate citations It should be 8-10 pages in length and follow all APA formatting requirements