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HomeMarketingMarket ResearchUsing market research to develop a product range

Using market research to develop a product range

The Coca-Cola Company is the world’s leading and best known drinks supplier. Its mission statement is:

‘The Coca-Cola Company exists to benefit and refresh everyone who is touched
by our business’

Primarily, consumers associate Coca-Cola with its best known drink. However, the Company also continually develops its product range to meet everyone’s needs.

A company has a portfolio of products; a product range. These products will be at different stages of their product life-cycle; some will be newly launched, some will be experiencing substantial growth, while others will be holding on to their position in mature markets. The aim of Coca-Cola is to ensure that its product range offers something for every occasion, for any time of day, for every consumer of its products.

 The soft drinks category

Using market research to develop a product range

Coca-Cola GB operates in the non-alcoholic beverage market. How these beverages are supplied to consumers varies enormously, from vending machines that supply single units to supermarket multipacks. In soft drinks alone, Coca-Cola GB has a broad range of over 80 products.

Building the range

Using market research to develop a product range

A business can enlarge its product range in two ways:

  • internally, through new product development based on market research
  • externally, by acquiring related companies, and if appropriate, building on their existing range.

For example, in 1999 The Coca-Cola Company purchased, in various countries, soft drinks brands from Cadbury Schweppes plc, including Dr Pepper, Oasis, Kia-Ora and Malvern.

The acquisition of Schweppes provided the opportunity to complement the range and accelerate growth through new product development.

Coca-Cola GB’s approach to new product development is uncomplicated. It innovates to meet consumer demands; the consumer has a central role in the research and development process.

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