Chapter 11: Developing and Managing Products

Creating a product that will be success in the market is one of the most important goals that a company has to achieve. Coming up with new ideas isn't easy because there are so many products out in the market nowadays. "Coca Cola" has been developing and managing new products for a long time now. For you to create a new product you have to first have an idea of how the products is going to look and affect the market. They also have to go through testing and such things. Product development is crucial for companies because they need to develop something that will satisfy the customer and be a success. Brainstorming is a great way to get companies to think about great ideas for products to be released for a company. Innovation is a product but more developed than the one before.

Chapter 18: Social Media and Marketing

Marketing is the communication between the customer and the company, in this case, "Coca Cola". Coke tries to get the consumer's attention by the way that it advertises it's product in the market. Like how Six Flags advertises "Coca Cola" inside their park. How they make promotions on how you can get discounts on tickets to go in if you bring a can of coke or its partners to the park. They do that because that attracts many people to buy their product. Social media monitoring is very important for a company because it informs the company on how they are doing in the market and what the consumer thinks about their product. Social networking sites are also a way for companies to find out what the people are saying about the company and the product as well. Review sites also keeps the companies up to date with the consumer's opinion on their product and helps them improve the products so consumers are more satisfied.

Chapter 10: Product Concepts

"Coca Cola" has a variety of products, but their main product is soft drinks. They produce their products in many shapes, sizes, and use different many different materials to make the outside of the drink look nicer, and cheaper for the company as well. Their most known product is "coke". This drink you can find worldwide in any country that you visit. Most of "Coca Cola" products are considered convenience products. Some companies like to extend their product line so they could compete more abroad in the industry. That is, introducing new products to the market to see if the customers will like what they introduced. Brand loyalty is very important for companies. That shows that their customers will always come back to their products and won't buy from the competition. A warranty is very important for the customer when they purchase a product. It makes them feel safe because the warranty guarantees that the product will not fail or harm the consumer. 

Chapter 17: Personal Selling and Sales Management

Personal selling is all about trying to present your product the best way you can to make customers believe it is of use to them and convince them to buy it. For the company to get the customer's interest, we can say that it kind of has to get in a relationship with the customer itself.  Getting the customer to trust your brand is everything every company wants. Interaction between the consumer and the company is very important to keep this "relationship" alive and going. Companies need to focus on keeping their customer's eyes only on their brand and away from the competitor. When you get a customer satisfied, he/she will most likely spread the news about how good your product is and that will attract other customers. So satisfying customers is crucial to keep the old customers and gain new ones. Every company has a certain number to reach every day, month, and year. That is called a quota. They need to achieve a certain number of products they sold.  

Chapter 16: Advertising, Public Relations and Sales Promotion

Anywhere you go in the world, you are probably going to see an advertisement from "Coca Cola".  They are on billboards, magazines and commercials. "Coca Cola" is well known for their christmas commercials. Advertising is really important for companies. They bring in new consumers, could bring the competition down and protect the company. 

"Coca Cola" has been judged and not recommended by a lot of people. Obesity is one of the major issues that Coke faces. Doctors tell their patients how coke can affect the human body and that doesn't look very pleasing at all for the consumers of the product. That is why "Coca Cola"introduced new products that are supposed to be healthier, like the Diet Coke, Coke Zero. 

Sales promotion is good to companies to attract new customers by lowering the price of a product and offering them more. Better products and more reliable ones will catch the customers attention. "Coca Cola" also has a promotion with Six Flags. If you bring a can of coke with you to the park, you get a discount on your admission ticket.

Chapter 14: Marketing Channels and Retailing

Coca Cola is being sold at many retailers all around the world. "Coca Cola's" products can be purchased at restaurant, delicatessens, vending machines and various other places. Retailers sell the products in a small amount, unlike wholesalers that sell the products in bigger quantities. It will come out a lot cheaper when consumers buy as wholesale rather than retail. The price will also variate depending on the area that you are making the acquisition. For example, at a grocery store you might pay $1,00 for a can of soda, meanwhile you are more likely to pay close to $2,00 at a mall or restaurant.   Prices change within certain areas as well. For example, in the city you might pay a little more for a product that would come out cheaper outside of the city. So the price will always depend on where the purchase is being made. "Coca Cola" also have retailing store that sells clothes and accessories that attracts customers. That is another way to make a profit and gain new customers as well.

Chapter 6: Consumer Decision Making

The many decisions the consumer has to make include: wheter to buy, when to buy, what to buy(product and type brand), where to buy(type of retailer, specific retailer, online or in store) and how to pay. Those are the most important decisions the customer has to make before purchasing the products they might want to buy. In the market of soft drinks, there are many options and many companies that try to beat the company so consumers will always have a hard time to decide which to buy and why. Some people decide to buy certain ones becayse they've been buying from the same for many years and know they are reliable and won't let them down. Some just buy it because they simply like the product. Social factors, cultural factors, individual factors and physological factors are the main ideas that make customers think if they should buy it or not. Certain products only reach to a certain market, and the company knows it so they make it easier for their customers to make the decision. It is crucial for "Coca Cola" to have options in the market so they can reach to different people and maybe even get new customers with their new product. Something different might want to make people try it out and they might like it. That's a very smart way to achieve new goals and acquire new customers in the market.