Coca-Cola Essay

614 WordsApr 25, 20143 Pages
Bullet two: Describe the pace at which your product will move through the product life cycle and the factors that will affect its movement. How will the product life cycle affect the marketing of your selected product or service? The product life cycle is an analysis that attempts to identify a set of common stages in the life of products or services. There are four stages in the life cycle that businesses use to manage the life cycles of their products. The first stage is the introduction stage; this stage is the most expensive to businesses because it is the launch of the new product. The product is new to the market, therefore the sales are low. Coca-cola expects this to happen as it does with all new products. Coca-cola is a family, well trusted brand that has been around for many generations. Merging the coca-cola product with an alcoholic beverage is brand new to the company and will require many different advertisements and promotions to get this product in the public eye. Coca-cola will market in almost the same way as it does for other Coca-cola products, although new commercials must be made, new magazine advertisements, and special promotions. The television commercials will be aired on all major adult related channels, as well as magazines including Maxim, Sports Illustrated, and many other various magazines, internet social media promoting, and promote the product at sporting events. The second stage is the growth stage. This stage gets its name because the product is rapidly growing in the market bringing a profit to the company. In turn, coca-cola will take this money and use it towards more marketing techniques to keep the consumers buying the product. With Coca-cola already being a trusted company, we think the new Jack Daniels pre- mixed drink will have a steady climbing pace as more consumers trying the product. We are

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