• New Coke Case Study Solution
    The first market implication of the introduction of New Coke was that consumers started to panic as they had realized that their favorite soft drink would no longer be available in the market. They began to purchase Cola and piled it at their homes. Thus, the true value and loyalty of the old Coke drink came to light, which would not have been revealed otherwise. The second implication was that despite resulting customer satisfaction in taste tests, when actually released in the market, the product could not bring favorable outcomes. It mainly happened because consumers were inspired by the original Coke beverage and could not emotionally relate to an entirely new product. Therefore, the marketing strategy of the company, which was based on the years of market research, failed as it could not bring satisfaction to buyers.
    The major strength of New Coke was that it had managed to pass taste tests. Therefore, the product could have won customer loyalty. Its weakness was that it could not satisfy buyers mainly because the original product had been removed from the market. The new drink could avail an opportunity of financial leverages for the company. If it had been successful, it could have surpassed the competition that Coke had been facing from Pepsi for years. Finally, the major threat imposed by the launch of the new product was the non-availability of old Coke.
    It was not necessary to reformulate New Coke. The major issue with it was the lack of efficient advertisement and strategic planning, which could have led the brand ahead of Pepsi. Instead of reformulating it, the company could have won customer loyalty and could have even snatched buyers from Pepsi if advertisements had been efficiently budgeted and planned. It could have advertised the strengths and differentiating factors of its product in comparison to the one offered by the competitor instead of reformulating it.
    Market research conducted in this case failed as managers decided to reformulate Coke based on statistics, which had been collected by conducting studies of focus groups. In my opinion, in such research, consumers only showed their satisfaction with the new taste of Coke but not with the idea that old Coke will be withdrawn from the market. If I were a market researcher, I would not rely only on my conclusion about the interpretation of results. I would consult other market researchers, maybe from other soft drink brands, which would assist me to think in other directions as well. There was not actually the problem in market research, but in the interpretation of results. As a market researcher, I would make a generic questionnaire, which did not only focus on the taste tests but could also cover emotions and likes of consumers to some extent.
    It was obvious from the taste test results that consumers were satisfied with the New Coke beverage. However, the brand could not win their loyalty. It mainly happened because the old Coke product was completely withdrawn from the market (Haoues, 2015). I would have not done this; instead of replacing the product completely, I would have introduced New Coke and would have monitored the market performance of the new drink. The company had to do the same when it had launched Coke Classic later. Therefore, instead of introducing the product after the first failure, I believe it would have been better to bring New Coke with the old one in the market and conduct a performance comparison of the two.
    About the author: Monica Davis is a master in Literature at Maryland University. She is currently working as one of the best writers at https://writessay.org/rewrite-my-essay/ She also studies male psychology.
    New Coke Case Study Solution The first market implication of the introduction of New Coke was that consumers started to panic as they had realized that their favorite soft drink would no longer be available in the market. They began to purchase Cola and piled it at their homes. Thus, the true value and loyalty of the old Coke drink came to light, which would not have been revealed otherwise. The second implication was that despite resulting customer satisfaction in taste tests, when actually released in the market, the product could not bring favorable outcomes. It mainly happened because consumers were inspired by the original Coke beverage and could not emotionally relate to an entirely new product. Therefore, the marketing strategy of the company, which was based on the years of market research, failed as it could not bring satisfaction to buyers. The major strength of New Coke was that it had managed to pass taste tests. Therefore, the product could have won customer loyalty. Its weakness was that it could not satisfy buyers mainly because the original product had been removed from the market. The new drink could avail an opportunity of financial leverages for the company. If it had been successful, it could have surpassed the competition that Coke had been facing from Pepsi for years. Finally, the major threat imposed by the launch of the new product was the non-availability of old Coke. It was not necessary to reformulate New Coke. The major issue with it was the lack of efficient advertisement and strategic planning, which could have led the brand ahead of Pepsi. Instead of reformulating it, the company could have won customer loyalty and could have even snatched buyers from Pepsi if advertisements had been efficiently budgeted and planned. It could have advertised the strengths and differentiating factors of its product in comparison to the one offered by the competitor instead of reformulating it. Market research conducted in this case failed as managers decided to reformulate Coke based on statistics, which had been collected by conducting studies of focus groups. In my opinion, in such research, consumers only showed their satisfaction with the new taste of Coke but not with the idea that old Coke will be withdrawn from the market. If I were a market researcher, I would not rely only on my conclusion about the interpretation of results. I would consult other market researchers, maybe from other soft drink brands, which would assist me to think in other directions as well. There was not actually the problem in market research, but in the interpretation of results. As a market researcher, I would make a generic questionnaire, which did not only focus on the taste tests but could also cover emotions and likes of consumers to some extent. It was obvious from the taste test results that consumers were satisfied with the New Coke beverage. However, the brand could not win their loyalty. It mainly happened because the old Coke product was completely withdrawn from the market (Haoues, 2015). I would have not done this; instead of replacing the product completely, I would have introduced New Coke and would have monitored the market performance of the new drink. The company had to do the same when it had launched Coke Classic later. Therefore, instead of introducing the product after the first failure, I believe it would have been better to bring New Coke with the old one in the market and conduct a performance comparison of the two. About the author: Monica Davis is a master in Literature at Maryland University. She is currently working as one of the best writers at https://writessay.org/rewrite-my-essay/ She also studies male psychology.
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