Question

Let's assume that Coca-Cola has interest in developing a new drink for the United States. Identify and describe one potential market segment who could be interested in this new drink. Identify your product strategy. Your product strategy will be specific to the market segment that you have identified.

Answer 1

MARKET SEGMENT SELECTED

The main market segmentation was done on the basis of variables such as geographic, demographic, psychographic and behavioral patterns. And by performing this we are clear that the main consumers of the product will be the people in the age group extending from sixteen to thirty. We have clearly analyzed the demographics of the product, the Demographic variables mainly includes age, gender, life-cycle and others. And the product's demand will be high in urban and half-urban centres than the rural households.

PRODUCT STRATEGY

The strategy mainly concentrates on the uniqueness of the product. Because the product to be launched will be more health conscious than the product now existing. This will attract the new generation society, were there is a growing population with high standards of life. And the advertisements will be mostly emphasized on this growing health consciousness. And it will certainly give a new area for the business.

The existing youth population think predominantly of the future than the present life.Especially the age group mentioned above.  And there exists a large group of people who shares this common concern. And it will certainly gives a permanent market. So this is the apt product strategy for the selected market segment.