Explain and discuss who their ideal customer is for at least one of their products or services. Briefly discuss the overall stra
STP Assignment:
1. Explain and discuss who their ideal customer is for at least one of their products or services. Briefly discuss the overall strategy for that segment.
2. Please describe their ideal customer in that segment in terms of demographics, psychographics, geographics, or behavioral segmentation.
3. How does the company position itself in that target segment?
4. Is their STP strategy working in your opinion?
https://blog.crobox.com/article/customer-segmentation-examples
Market Analysis and SWOT Assignment
Industry Overview
Industry category – The Coca-Cola Firm is a beverage company that sells its products in different countries all over the world and territories. The company’s mission is that it aims at revitalize changing the planet and trying to bring about a difference. Some of the products that the company produces include Sprite, Fanta, Coca-Cola and many other drinks. The company seeks to solve the problem of distribution to all parts of the world by incorporating different suppliers and distributors in their line of operation (Christ et al., 2018).
Industry characteristics – The beverage sector in the United States is worth $146 billion. In 2021, non-alcoholic beverage sales in the United States totaled $414.8 million. Every day, Americans take 341.1 drink calories on average, while children consume 312.6 drink calories. The major players in this industry include PepsiCo, JBS, Tyson foods and many others, some of the major distributors in this industry include the empire merchants North LLC, young market company, alliance beverage distribution among others.
Industry regulations – There are different rules and regulations that have been set by the federal government that requires that any company that is operating in the beverage industry must adhere to. Some of these regulations include accurate labeling and advertising. Also the FDA requires that any beverage drink that is intended for human consumption should be sealed in bottles and any added ingredients should be measured to be safe for the consumer.
Market growth and trends – The industry in this case has been significantly been growing, many new and healthier products have been produced by different companies in the sector and also there have been new entries to the market that have been increasing the competition in this case (Wee, 2017). Looking at the industry, there are current trends that may affect the general business, some of these trends include the change in people lifestyles of people to seek and drinks that are healthier, coca cola in this case therefore with its zero sugar drink will increase its demand.
Stability – The beverage industry in the country has always been very stable, people have always been interested in the drinks and especially the non-alcoholic ones being offered by the companies in the industry. Economically, the revenue that has been generated by the industry both historically has been very stable and the revenue has been consistently been rising throughout the years.
Market Segmentation
Coca Cola Company is primarily located in the United States, its headquarters are located in Atlanta, Georgia.
Currently, the market of the industry is very huge and the customers that the company in this case specifically has the ability to support the business as it has established itself throughout the years and it has gained a big market share that helps in supporting its business activities.
In as much as the company sees everyone as the target market, the marketing plan in this case will only consider looking at only one target market. The target customers for the Coca-Cola No Sugar product include the people who do have existing medical conditions that deprive them of using products with sugar and also the general population who are aiming to live a healthy life. The characteristics of the buyers in the company are people who in most cases do not prefer alcoholic drinks, and are more interested in maintaining and having a healthy lifestyle. The consumer needs in the beverage market is to get beverage drinks that are considered to be in need of drinks that have less sugar as much as possible and that are also affordable to them.
Total Available Market (TAM)
Serviceable Available Market (SAM)
Target Market
Market Shape
When segmenting the market, start by defining the Total Available Market (TAM), then Serviceable Available Market (SAM), and finally Target Market (TM).
Total Available Market – Currently, the total available market of coca cola Company in the United States is considered to be very big. Considering the fact that the products offered by the company are non-alcoholic, this makes every person and every household in the country to be a prospect when it comes to measuring the total available market.
Serviceable Available Market – Considering that Coca Cola is a big Company in the United States and even the whole world, its market segmentation is also huge. However the company seeks to reach out to customers who are in geographical areas that are considered to have high temperatures mostly since the products that the company offers are soft cold drinks meant for fun and refreshment.
Target Market – In as much as the company sees everyone as the target market, the marketing plan in this case will only consider looking at only one target market. The target customers for the Coca-Cola No Sugar product include the people who do have existing medical conditions that deprive them of using products with sugar and also the general population who are aiming to live a healthy life (Chua et al., 2020).
Competition
Direct competitors – The beverage company has been considered to have some big competitors that have been fighting to have the big market share in the industry. Some of the competitors that the company has include Tetra Pak, Red Bull, Soylent and Keuring Dr. Pepper. All these competitors have been in the market for a very long time just as the same time as coca cola has been in the industry.
Competitor strengths and weaknesses – Looking at the competitors in this case, they have been very effective especially when it comes to advertising and marketing, this has made them to have and gain a bigger market share in the market. However, one of the weaknesses that the competitors have is the fact that most of their products have high sugar levels and they have not considered coming up with products that have zero sugar levels for the health of the customers.
Status quo – looking at the mind sets of the other competitors in the market, it is always hard to know what exactly that they are thinking and what they intend to do that might disrupt the market. However, it is important to notice that innovation has been very key to them and therefore things like advertisements and even delivery channels are somethings that the competitors have been implementing that do have the ability to disrupt how things are done (Christ et al., 2018).
Messaging – The best way to achieve overcome the competition in this case case is by ensuring that the company does its best to enroll promotional and sales strategies that will help me reach out to the greater market as easily as possible. Promotional strategies such as face to face sales processes will be the best things and way that will help in ensuring that the product reaches to the target population easily and efficiently. Televised advertisements and social media promotions will be one of the effective ways that will help in reaching the targeted customers (Wee, 2017). Coca cola campaign in this case will educate more on the importance of taking the zero sugar drink being introduced and at the same time influence the customers to taking the same and this will play a very huge role in the process of overcoming competition.
Uniqueness – The company already has loyal customers and this is due to the fact that the pricing strategy that the company has always been constant and this helps in reducing competition.
SWOT Analysis
Strengths – Coca Cola Company has always had a very strong brand presence. Coca cola as a brand has been providing logical, consistent and satisfying experience to its customers and this has been helping the company fulfill its value position. Also, the fact that the prices of its drinks, they remain unchanged. Also the design of the bottles that the company has are unique which makes it to be unique (Nair et al., 2021). These strengths will evolve going forward in a way that the company by enrolling its new products such as the zero sugar drinks it will capture a bigger market share.
Weaknesses – Low product diversification, aggressive competition with Pepsi, law suits, environmentally destructive packaging. Some of the areas that the company needs to improve in include packaging and marketing.
Opportunities – Coca Cola Company in this case can choose to look for partnerships with other companies and this will specifically help them in the process of ensuring that they do reach out to a larger market (Nair et al., 2021). Also by coming up with new innovations like online ordering, distribution and deliveries, this will help with efficiency and in the process cutting cost.
Threats – some of the external factors that could affect the business growth include water usage controversy, competition (direct and indirect), increase in health consciousness, law suits etc.
STRENGTHS Dominant market share. Greatest customer loyalty. Extended global reach. Strong brand identity |
WEAKNESSES Poor product diversification Health concerns. Stiff competition from other companies such as Pepsi. Packaging that is environmentally destructive. |
|
OPPORTUNITIES Introduction of new products and segment diversification. Adapting to new supply chain systems. Make new partnerships. Expand through acquisition. |
THREATS Increase in health consciousness Economic uncertainty. Competition. Water usage controversy Law suits |
Once the SWOT analysis is complete, consider the following aspects of the business:
Looking at the business strengths such as customer loyalty, this will have a very significant role in optimizing opportunities that are there and at the same time reducing any threats that might be there. For example, since the company has loyal customers it might adapt to new supply chain systems without having to worry that it might lose some of its customers in the process.
However, weaknesses such as poor diversification may prevent the company from fulfilling these opportunities since without diversifying its products it will make its customers to reach out to the other companies such as PepsiCo and this might end up making them loose some of its loyal customers.
Some of the weaknesses that Coca Cola Company has may make the company to be exposed to many of the threats that are there. Some of the weaknesses in this case which are dangerous include poor packaging that is environmentally destructive. This may end up making the company to be exposed to law suits which will slow down the company in terms of performance.
Considering that the company has a very strong brand and loyal customers, the company should choose to diversify its product by bringing into board new innovations and products and this will help in giving its customers options that they can choose from and make decisions that are informed concerning buying products from the company. The strengths that the company has will help in ensuring that this is done with less cost.
References
Chua, J. Y., Kee, D. M. H., Alhamlan, H. A., Lim, P. Y., Lim, Q. Y., Lim, X. Y., & Singh, N.(2020). Challenges and solutions: A case study of Coca-Cola company. Journal of the Community Development in Asia (JCDA), 3(2), 43-54.http://ejournal.aibpm.org/index.php/JCDA/article/view/810
Christ, K. L., Burritt, R. L., & Varsei, M. (2018). Coopetition as a potential strategy for corporate sustainability. Business strategy and the environment, 26(7), 1029-1040. Retrieved from: https://onlinelibrary.wiley.com/doi/abs/10.1002/bse.1967?casa_token=kHTekbFY9FcAAAAA:fpvb2V6b4Tc7q7VI8awP69Eba_kTajkxno5Zl092AE_8-gS1ZuSwSu6yYX7nxX73a9DoRrZFxHLUSlfg
Nair, R. K., Reddy, L. S., Verma, P., Pandey, R., Yuwono, S., Sin, L. G., … & Yu, T. P. (2021). The impact of COVID 19 towards international business strategy: A study of Coca-Cola company. International Journal of Accounting & Finance in Asia Pasific (IJAFAP), 4(2), 73-92. http://ejournal.aibpm.org/index.php/IJAFAP/article/view/1116
Wee, C. H. (2017). Think tank—beyond the five forces model and blue ocean strategy: an integrative perspective from Sun Zi Bingfa. Global Business and Organizational Excellence, 36(2), 34-45. Retrieved from: https://onlinelibrary.wiley.com/doi/full/10.1002/joe.21768?casa_token=RjhU5YmsvrcAAAAA:Vuk1aPLJpy3iuaHFt8nkPxneYKGku15GkZF9ohiowz3b6CYehmgwyYm0oPl5PkVi6A-v2xDq08d3gXlrIg
Column1 Market Shape Tarhet Shape 25 75
SWOT Weaknesses Threats Opportunities Strengths 25 25 25 25
Report Date 0
Report Date 6
Chart1
Market Shape |
Tarhet Shape |
Sheet1
Column1 | Column2 | |
Market Shape | 25 | |
Tarhet Shape | 75 |
,
Market Analysis and SWOT Assignment
Industry Overview
Industry category – The Coca-Cola Firm is a beverage company that sells its products in different countries all over the world and territories. The company’s mission is that it aims at revitalize changing the planet and trying to bring about a difference. Some of the products that the company produces include Sprite, Fanta, Coca-Cola and many other drinks. The company seeks to solve the problem of distribution to all parts of the world by incorporating different suppliers and distributors in their line of operation (Christ et al., 2018).
Industry characteristics – The beverage sector in the United States is worth $146 billion. In 2021, non-alcoholic beverage sales in the United States totaled $414.8 million. Every day, Americans take 341.1 drink calories on average, while children consume 312.6 drink calories. The major players in this industry include PepsiCo, JBS, Tyson foods and many others, some of the major distributors in this industry include the empire merchants North LLC, young market company, alliance beverage distribution among others.
Industry regulations – There are different rules and regulations that have been set by the federal government that requires that any company that is operating in the beverage industry must adhere to. Some of these regulations include accurate labeling and advertising. Also the FDA requires that any beverage drink that is intended for human consumption should be sealed in bottles and any added ingredients should be measured to be safe for the consumer.
Market growth and trends – The industry in this case has been significantly been growing, many new and healthier products have been produced by different companies in the sector and also there have been new entries to the market that have been increasing the competition in this case (Wee, 2017). Looking at the industry, there are current trends that may affect the general business, some of these trends include the change in people lifestyles of people to seek and drinks that are healthier, coca cola in this case therefore with its zero sugar drink will increase its demand.
Stability – The beverage industry in the country has always been very stable, people have always been interested in the drinks and especially the non-alcoholic ones being offered by the companies in the industry. Economically, the revenue that has been generated by the industry both historically has been very stable and the revenue has been consistently been rising throughout the years.
Market Segmentation
Coca Cola Company is primarily located in the United States, its headquarters are located in Atlanta, Georgia.
Currently, the market of the industry is very huge and the customers that the company in this case specifically has the ability to support the business as it has established itself throughout the years and it has gained a big market share that helps in supporting its business activities.
In as much as the company sees everyone as the target market, the marketing plan in this case will only consider looking at only one target market. The target customers for the Coca-Cola No Sugar product include the people who do have existing medical conditions that deprive them of using products with sugar and also the general population who are aiming to live a healthy life. The characteristics of the buyers in the company are people who in most cases do not prefer alcoholic drinks, and are more interested in maintaining and having a healthy lifestyle. The consumer needs in the beverage market is to get beverage drinks that are considered to be in need of drinks that have less sugar as much as possible and that are also affordable to them.
Total Available Market (TAM)
Serviceable Available Market (SAM)
Target Market
Market Shape
When segmenting the market, start by defining the Total Available Market (TAM), then Serviceable Available Market (SAM), and finally Target Market (TM).
Total Available Market – Currently, the total available market of coca cola Company in the United States is considered to be very big. Considering the fact that the products offered by the company are non-alcoholic, this makes every person and every household in the country to be a prospect when it comes to measuring the total available market.
Serviceable Available Market – Considering that Coca Cola is a big Company in the United States and even the whole world, its market segmentation is also huge. However the company seeks to reach out to customers who are in geographical areas that are considered to have high temperatures mostly since the products that the company offers are soft cold drinks meant for fun and refreshment.
Target Market – In as much as the company sees everyone as the target market, the marketing plan in this case will only consider looking at only one target market. The target customers for the Coca-Cola No Sugar product include the people who do have existing medical conditions that deprive them of using products with sugar and also the general population who are aiming to live a healthy life (Chua et al., 2020).
Competition
Direct competitors – The beverage company has been considered to have some big competitors that have been fighting to have the big market share in the industry. Some of the competitors that the company has include Tetra Pak, Red Bull, Soylent and Keuring Dr. Pepper. All these competitors have been in the market for a very long time just as the same time as coca cola has been in the industry.
Competitor strengths and weaknesses – Looking at the competitors in this case, they have been very effective especially when it comes to advertising and marketing, this has made them to have and gain a bigger market share in the market. However, one of the weaknesses that the competitors have is the fact that most of their products have high sugar levels and they have not considered coming up with products that have zero sugar levels for the health of the customers.
Status quo – looking at the mind sets of the other competitors in the market, it is always hard to know what exactly that they are thinking and what they intend to do that might disrupt the market. However, it is important to notice that innovation has been very key to them and therefore things like advertisements and even delivery channels are somethings that the competitors have been implementing that do have the ability to disrupt how things are done (Christ et al., 2018).
Messaging – The best way to achieve overcome the competition in this case case is by ensuring that the company does its best to enroll promotional and sales strategies that will help me reach out to the greater market as easily as possible. Promotional strategies such as face to face sales processes will be the best things and way that will help in ensuring that the product reaches to the target population easily and efficiently. Televised advertisements and social media promotions will be one of the effective ways that will help in reaching the targeted customers (Wee, 2017). Coca cola campaign in this case will educate more on the importance of taking the zero sugar drink being introduced and at the same time influence the customers to taking the same and this will play a very huge role in the process of overcoming competition.
Uniqueness – The company already has loyal customers and this is due to the fact that the pricing strategy that the company has always been constant and this helps in reducing competition.
SWOT Analysis
Strengths – Coca Cola Company has always had a very strong brand presence. Coca cola as a brand has been providing logical, consistent and satisfying experience to its customers and this has been helping the company fulfill its value position. Also, the fact that the prices of its drinks, they remain unchanged. Also the design of the bottles that the company has are unique which makes it to be unique (Nair et al., 2021). These strengths will evolve going forward in a way that the company by enrolling its new products such as the zero sugar drinks it will capture a bigger market share.
Weaknesses – Low product diversification, aggressive competition with Pepsi, law suits, environmentally destructive packaging. Some of the areas that the company needs to improve in include packaging and marketing.
Opportunities – Coca Cola Company in this case can choose to look for partnerships with other companies and this will specifically help them in the process of ensuring that they do reach out to a larger market (Nair et al., 2021). Also by coming up with new innovations like online ordering, distribution and deliveries, this will help with efficiency and in the process cutting cost.
Threats – some of the external factors that could affect the business growth include water usage controversy, competition (direct and indirect), increase in health consciousness, law suits etc.
STRENGTHS Dominant market share. Greatest customer loyalty. Extended global reach. Strong brand identity |
WEAKNESSES Poor product diversification Health concerns. Stiff competition from other companies such as Pepsi. Packaging that is environmentally destructive. |
|
OPPORTUNITIES Introduction of new products and segment diversification. Adapting to new supply chain systems. Make new partnerships. Expand through acquisition. |
THREATS Increase in health consciousness Economic uncertainty. Competition. Water usage controversy Law suits |
Once the SWOT analysis is complete, consider the following aspects of the business:
Looking at the business strengths such as customer loyalty, this will have a very significant role in optimizing opportunities that are there and at the same time reducing any threats that might be there. For example, since the company has loyal customers it might adapt to new supply chain systems without having to worry that it might lose some of its customers in the process.
However, weaknesses such as poor diversification may prevent the company from fulfilling these opportunities since without diversifying its products it will make its customers to reach out to the other companies such as PepsiCo and this might end up making them loose some of its loyal customers.
Some of the weaknesses that Coca Cola Company has may make the company to be exposed to many of the threats that are there. Some of the weaknesses in this case which are dangerous include poor packaging that is environmentally destructive. This may end up making the company to be exposed to law suits which will slow down the company in terms of performance.
Considering that the company has a very strong brand and loyal customers, the company should choose to diversify its product by bringing into board new innovations and products and this will help in giving its customers options that they can choose from and make decisions that are informed concerning buying products from the company. The strengths that the company has will help in ensuring that this is done with less cost.
References
Chua, J. Y., Kee, D. M. H., Alhamlan, H. A., Lim, P. Y., Lim, Q. Y., Lim, X. Y., & Singh, N.(2020). Challenges and solutions: A case study of Coca-Cola company. Journal of the Community Development in Asia (JCDA), 3(2), 43-54.http://ejournal.aibpm.org/index.php/JCDA/article/view/810
Christ, K. L., Burritt, R. L., & Varsei, M. (2018). Coopetition as a potential strategy for corporate sustainability. Business strategy and the environment, 26(7), 1029-1040. Retrieved from: https://onlinelibrary.wiley.com/doi/abs/10.1002/bse.1967?casa_token=kHTekbFY9FcAAAAA:fpvb2V6b4Tc7q7VI8awP69Eba_kTajkxno5Zl092AE_8-gS1ZuSwSu6yYX7nxX73a9DoRrZFxHLUSlfg
Nair, R. K., Reddy, L. S., Verma, P., Pandey, R., Yuwono, S., Sin, L. G., … & Yu, T. P. (2021). The impact of COVID 19 towards international business strategy: A study of Coca-Cola company. International Journal of Accounting & Finance in Asia Pasific (IJAFAP), 4(2), 73-92. http://ejournal.aibpm.org/index.php/IJAFAP/article/view/1116
Wee, C. H. (2017). Think tank—beyond the five forces model and blue ocean strategy: an integrative perspective from Sun Zi Bingfa. Global Business and Organizational Excellence, 36(2), 34-45. Retrieved from: https://onlinelibrary.wiley.com/doi/full/10.1002/joe.21768?casa_token=RjhU5YmsvrcAAAAA:Vuk1aPLJpy3iuaHFt8nkPxneYKGku15GkZF9ohiowz3b6CYehmgwyYm0oPl5PkVi6A-v2xDq08d3gXlrIg
Column1 Market Shape Tarhet Shape 25 75
SWOT Weaknesses Threats Opportunities Strengths 25 25 25 25
Report Date 0
Report Date 6
Chart1
Market Shape |
Tarhet Shape |
Sheet1
Column1 | Column2 | |
Market Shape | 25 | |
Tarhet Shape | 75 |
,
Market Analysis and SWOT Assignment
Industry Overview
Industry category – The Coca-Cola Firm is a beverage company that sells its products in different countries all over the world and territories. The company’s mission is that it aims at revitalize changing the planet and trying to bring about a difference. Some of the products that the company produces include Sprite, Fanta, Coca-Cola and many other drinks. The company seeks to solve the problem of distribution to all parts of the world by incorporating different suppliers and distributors in their line of operation (Christ et al., 2018).
Industry characteristics – The beverage sector in the United States is worth $146 billion. In 2021, non-alcoholic beverage sales in the United States totaled $414.8 million. Every day, Americans take 341.1 drink calories on average, while children consume 312.6 drink calories. The major players in this industry include PepsiCo, JBS, Tyson foods and many others, some of the major distributors in this industry include the empire merchants North LLC, young market company, alliance beverage distribution among others.
Industry regulations – There are different rules and regulations that have been set by the federal government that requires that any company that is operating in the beverage industry must adhere to. Some of these regulations include accurate labeling and advertising. Also the FDA requires that any beverage drink that is intended for human consumption should be sealed in bottles and any added ingredients should be measured to be safe for the consumer.
Market growth and trends – The industry in this case has been significantly been growing, many new and healthier products have been produced by different companies in the sector and also there have been new entries to the market that have been increasing the competition in this case (Wee, 2017). Looking at the industry, there are current trends that may affect the general business, some of these trends include the change in people lifestyles of people to seek and drinks that are healthier, coca cola in this case therefore with its zero sugar drink will increase its demand.
Stability – The beverage industry in the country has always been very stable, people have always been interested in the drinks and especially the non-alcoholic ones being offered by the companies in the industry. Economically, the revenue that has been generated by the industry both historically has been very stable and the revenue has been consistently been rising throughout the years.
Market Segmentation
Coca Cola Company is primarily located in the United States, its headquarters are located in Atlanta, Georgia.
Currently, the market of the industry is very huge and the customers that the company in this case specifically has the ability to support the business as it has established itself throughout the years and it has gained a big market share that helps in supporting its business activities.
In as much as the company sees everyone as the target market, the marketing plan in this case will only consider looking at only one target market. The target customers for the Coca-Cola No Sugar product include the people who do
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