The 5 'I's Assignment Example | Topics and Well Written Essays - 250 words

The 5 'I's - Assignment Example This acts as the key inspiration that trigger the company to initiate a low sugar product that meets the needs of young children and old customers who are loyal towards the company products. In order to be successful in the soft drink market that is characterized by stiff competition, strong marketing team will be employed to carry out intensive market research. Through the use of feedback from parents and young consumers, the company will ultimately produce a quality brand that effectively puts at bay its competitors. Additionally, promotional strategies that include free samples, competition and road shows will greatly influence the demand of the new product among the young consumers. To be successful in the market, Coca-Cola will need to emulate various initiatives. First, duration of approximately 3 months is needed to undertake market research. After the research, the company needs to adopt marketing strategies for 6 months in order to create strong customer awareness (Tuomi 35). This implies that the company should employ various avenues of advertisement such as television, magazines as well as social sites including face book and twitter. For these strategies to be effectively put in place, the company requires approximate US $250,000 per year. To meet the high demand of its product in the market, the company will need to produce large volume of syrups in it production facility. In this regard, the technical team will be expanded and new machines will be put in place. Additionally, the company will adopt an effective communication system to monitor the sales of its new product in the current and new markets. Through the coordination of the 5 ‘I’, Coca-Cola will be not only successfully penetrate new markets but also it will expand its customer base an aspect that will contribute to its sustainable