4Ps of Diet Coke
A marketing tool which is used to target a particular segment.
It consists of 4Ps:-
• PRODUCT
• PRICE
• PLACE
• PROMOTION
PRODUCT:-
Diet Coke is a suger-free Coke Cola flavored beverage.
Product Variety:- Diet Coke Caffeine free, Diet Coke with Lemon, Diet Coke With Lime, Diet Black cherry vanilla Coke, Diet Coke Plus, Diet Coke sweetened with splenda.
Brand Name:- It is registered Under “Coke Cola Company” which is a well-known name in the world of beverages.
Quality: - Sugar-free carbonated drink with low calories and as well as it is available in caffeine free variant.
Service:-Refreshes and gives taste to health conscious peoples in the form of carbonated water.
Size:- The product
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It follows following pricing strategies:
• Psychological pricing strategies:- Coca-Cola uses psychological pricing strategy for its product. For instance when you go to Imtiaz super market or Chase up you will find the price of a Can (tin 330ml) as Rs.28.85/ it means originally the consumer is paying 29/- but it gives a psychological impression to consumer that he is paying less.
• Promotional Pricing strategies:-Coke also uses the promotional pricing strategy. In store that cell Coca-Cola, prices are often temporarily priced below the list price to increase short-run sales. It gives the product a sense of urgency and customers purchase the product because of the lower price
• International pricing:- one of the important strategy of the company is International pricing. The price is set on the basis of economical conditions and other demographic psychological and social factors of country to country. For instance price of Diet Coke in china is different than in US. Price of 1.5liter bottle Price of no return bottle(disposable) Price of standard size returnable
We will focus on bringing two new products to the Kool-Aid lineup: sugar-free premixed and energy drink.
For those of you who think switching from the "real thing" to diet soda will help in losing weight; you are in for a rude awakening. More and more research is showing that not only will it not help but there is evidence that artificially sweetened diet beverages could actually cause you to gain weight.
We will focus on bringing two new products to the Kool-Aid lineup: sugar-free premixed and energy drink.
Sprite is a type of soda that many people drink but how can it handle an Alacelzer. It doesn’t have a color and is flavored lime and lemon created by the coca cola company. Its made of carbon water, high fructose corn syrup, citric acid, natural flavors, and sodium benzoate. To get an idea of what this is really made up of I will tell you what each ingredient is. Carbonated water is water that has carbon dioxide dissolved into it as a gas. High fructose is something sweetener that is made from corn starch. Citric acid is a weak organic acid that keep in mind is used in this soda sprite. It gives the drink or food taste to it. Natural flavoring is when there is a flavor in a food that has come from another food to make that food taste good.
According to Form 10K, “Coca-Cola is the world’s largest beverage company. We own or license and market more than 500 nonalcoholic beverage brands” (Coca-Cola Annual, 2013). Their product includes all Coca-Cola, Sprite, Fanta, and Simply trademark beverages. They also produce juice, tea,
In 1885, at a drugstore in Waco Texas, a man by the name of Wade Morrison had hired Charles Alderton. Alderton was a pharmacist but he also served soft drinks to his customers. Back in that time there weren’t as many soft drink selections to choose from so Alderton would often combine sweeteners with fruit extracts. He had invented many different flavors. However one flavor sold better than
The long-term pricing strategy of Coca-Cola can be best described as value oriented. Despite being a leader in its industry, its fierce rivalry with Pepsi has forced Coca-Cola to maintain affordable price points to
The pricing strategy that I chose is marketing objectives. Our company will deliver on this strategy to this stand by competing with our competitor’s stand. Our competitor, Jimmy, manages the Lemonade Stand “Liquid Yellow” charges $1.50 for one cup of lemonade. However, they use artificial ingredients, such as artificial flavoring and coloring, white sugar, etc. My company decided that we want to have a price that is higher than Jim’s price. We decided that we want to charge $2.00 for a cup of lemonade. We decided to charge this price because unlike Jim’s stand, we use all natural ingredients, which cost more than artificial ingredients and are healthier for you than artificial ingredients are. That is my company’s pricing strategy.
At Paoli high school there are many vending machines, but recently I have noticed that every vending machine has some kind of diet drink and no regular soda . let’s start at the basics. Here’s the ingredient list for coke “ Carbonated water,High Fructose Corn Syrup,Caramel Color, Phosphoric Acid,Natural Flavors,Caffeine”. Here’s the ingredient list for diet coke “Carbonated Water ,Caramel Color, Aspartame, Phosphoric Acid , Potassium benzoate (to protect Taste), Natural Flavors,Citric Acid, Caffeine”. I understand diet free soda fails to leave the residue on teeth that regular soda does. This is because diet soda gets its flavoring from artificial sweeteners , not natural sugar.
Product retail pricing strategy is a major part of my role with the Dr. Pepper Snapple Group. We operate in a highly competitive beverage industry that is heavily dominated by two players; Coca Cola and Pepsi. Beyond the big three (DPSG, Pepsi, and Coke), there are numerous other competing brands and companies in multiple market segments all vying for the business of retailers and the consumption of consumers. Additionally, each retailer we come to business with implements their own retail strategies. Therefore, settling on a cooperative and mutually beneficial chain specific strategy can be a daunting task. Without really knowing it I have been evaluating the price elasticity of consumers throughout my entire beverage industry career. There
Therefore, Chatime using psychological pricing strategy which is set those ending with nines or other odd numbers on all beverages to stimulate consumer demand and sometimes these are referred to as “just below” prices as they are often “just below” an even price such as RM1.99 vs RM2.00. For example, Chatime instead of charge RM6 for a milk tea beverage you might charge RM5.99 per beverage. Some consumers associate the price closer to RM5 than RM6 even though it is only one cent less and they may subconsciously be partially ignored. The theory that drives this is that lower pricing such as this institutes greater demand than if consumers were perfectly rational. Psychological pricing is one cause of price points to get more customers and the psychological pricing method helps Chatime build an impression of the brand without making significant changes to the product. Simply revising the pricing structure can make the product seem like the best on the market compare with other competitors or elevate the Chatime’s milk tea to the top of the available options. Although the price of Chatime’s milk tea is lower than competitors, customers are those who important of quality and price attributes will buy the products too. It is because customers are relatively insensitive to the product price. Customers willing to pay more for own
Pepsi’s has a large number of product lines and brands and thus the prices are considerably varied. Their main pricing strategy is based on the Market-Oriented pricing strategy to ensure that its prices are competitive as compared to the competitor’s prices and market conditions. Pepsi also used
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The pricing technique of Coca-Cola has supported the firm to compete and grow in the soft drink effectively. The volume discount and pricing penetration are the vital aspects to provide the firm generates its sales in the market. For instance, Coca-Cola partners with large supply chains such as Costco, Sam’s Club, and Walmart to provide great discount pricing in order to generate its sales substantially in the U.S and the global market. Equally, the firm also distributes its
Coke was a company ruling the markets before Pepsi entered. Earlier the price of coke was cost based i.e. it was decided on the cost which was spent on making the product plus the profit and other expenses. But after the emergence of other companies especially the likes of Pepsi, Coca-Cola started with pricing strategy based on the basis of competition. Nowadays more expenses are spent on advertising rather than on manufacturing.