Chapter 2: Strategic Planning for Competitive Advantage

"Coca Cola" has had its main product out for a while, which is the regular coke beverage. But in order for the company to make profit and expand into other countries and reach new customers it needs to come up with something new. Like every company, when it comes out with a new product and it reaches the customer, it could be a great investment or a fail. A company always needs some other product  to back itself up. "Coca Cola" for an example, had created many different flavors with their main product. For example, "Coca Coca Cherry", "Coca Cola Lime", "Coke Zero", "Coca Cola Vanilla", among many others. This type of investment gets the customers attention and even new customers could start using the product. This is a way of reaching to new customers and making more profit. Now some products of the company are considered stars, they are the company's main product and the product that brings in most money out of all products, but they need a lot of cash to be started. There are also dogs and problem child , which are products that were introduced to the market but it hasn't really satisfied the customers and will have to be "thrown out" of business. It is very important to plan how the product will be introduced to the public and, and how its going to affect the business. Companies need to set a competitive advantage to their competitors. Introducing new products that only your company will make is a great way to take an advantage on others. If you are the only one manufacturing certain products, you will have no competition and all the profits will be yours. Businesses need to figure out how to make a difference, not only make new products because competitors will always come back at you with a new product as well. Implementation of the product is crucial to the business. It is very critical that the product is introduced the right way to the market otherwise it could be a big fiasco and the company only wasted time and money which is essential nowadays in business.