It also defined as the organizations or individuals have similar features make the remarkable determination in equines strategy (Fay & Jobber, 2012).
There are several benefits for make the market segmentation for Coca-Cola Company. It enhances the opportunities of growth and the profitability. The Coca-Cola company introduced a new product Of fruit flavor to increase the consumer groups towards young generation and combined low calorie to meet the healthy population. The market segmentation also improved the customer’s retention and make communications more effective.
The new product give customers more selection and the customers feedback can help the company get more communication with different groups of customer. All the beneficial of market segmentation is for better matching the correct group and satisfied their needs (Stardom, 2004). The new products is mainly towards the carbine soft drinks and making market segmental strategies can expand or change the market orientation, for example, Coca-Cola Company used to produce the cherry flavor soft dinky, however, the new product increase more fruit flavor and decrease the calories contents in it.
Therefore, the market position and strategy has change towards young and healthy generation. Market needs The Market needs involves what customers want rather than the competitors ND what the product can benefited for themselves in the market place (Wellington, 2010). The new product of Coca-Cola creates new brand value of this company. The brand value refers to the additional traits or service added to the products to make the new products particular. The new Coca-Cola product creates low calories and various flavors create more consumption groups (Fay & Jobber, 2012).
The new product towards young generation, who prefer fruit flavor and give them more choice rather than the only cherry in Coca-Cola soft drinks. The new product also contains nearly zero calories to help healthy groups to keep fit. They can use the products as diet drinks. According to the research, 63% of the customers plan to order the Coca-Cola products during the Christmas holiday and 61% of the appointed customers would like to consume the Coca-Cola products in pub (Coca-Cola, 2014).
Segmentation potential The marketing potential of a product requires research and marketing processing and lead to a important part of successful business strategy. Through analyzing of market potential can help the company make decision of weather the products needs to invest. So before launching the new market of the new product, the company should do many research of potential rakes in K. According to the research, there are 1. 7 billion of Coca-Cola are sold every day. The picture below shows the contents of caffeine in different drinks, it illustrates the Coca-Cola is not the highest calories soft drinks in many brands.
So the customer’s trends to select the Coca-Cola products and the new product provide more selection of different consumer groups. Analysis of current and potential competitors The Porter’s five forces describe the five threats for a new product launching the market. The Current competitor corresponds to the rivalry among existing competitors. The Coca-Cola Company has many existing competitors, like Pepsi, red bull. Compared to these companies, the Coca-Cola have many competitive advantages.