Exercise 2 New Coke Tool PDF

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Exercise 2 – New Coke Case Study Required format for response (reply must be a minimum of 250 words): The biggest lesson that Coke learned was that if there’s no concern for changing their product, there’s no need to. My recommendation for Coke in 1985 would have been to instead take surveys from their loyal customers and see what they would like to see Coke do next, such as introduce a new flavor rather than change the original taste. This approach is the best option because it would’ve allowed Coke to have options with what they could do when introducing a new product and would’ve had a more positive reaction from their customers. Below is the marketing plan this approach would best represent: Marketing Objective: Having a product that sells well and that Pepsi doesn’t have. (What they would accomplish with this approach) Strategy: Target a specific audience/demographic (How they will achieve the objective) Tactics: List 3 specific tactics Coke would use for this strategy: 1. Offer promotions during slow season. 2. Increase media advertising. 3. Target the Sports industry for sponsorships. I would not modify the existing product mix because Coke had a good idea about introducing a new re-vamped version of Coke, and believe they would be successful doing an Energy Drink instead....