Coca cola classic
1. Product(s) position within the company.
a. Is the product a star, question mark, cash cow or dog in terms of the BCG matrix?
2. Consumer decision process
a. Assume you were a new buyer of your audited product. How would you go through the five steps of the purchase decision process
3. Pricing strategies
a. How is your product priced compared to the competition? Provide an exhibit comparing your product's prices to the competitors.
b. What type of pricing policy did your product use: penetration pricing, prestige pricing, odd even pricing, target pricing, standard markup pricing, etc.
c. What are your products points of differentiation or points of difference? How have these points of difference affected the price of the product compared to the competition? Provide an exhibit that compares points of difference.
d. Describe how your product creates value compared to the competition.
e. Is your product classified as price elastic or inelastic? Explain. Discuss the price sensitivity of different market segments for your product.
f. Describe the product line pricing strategy for your product.
4. Managing the product
a. Where is your product in terms of the product life cycle (Figure 11-1)?
b. Use the PLC graph of Figure 11-2 to describe how the stage of the life cycle impacts your product in terms of marketing activity
c. Where is your product in terms of the life cycle of consumers (Figure 11-5)? Who were the innovators and early adopters of your product?
d. How has your product been modified or repositioned to better serve customers? Did the company try to go after different customers by a modification of the product or a repositioning campaign?
e. Describe your product's brand personality?
f. How has your product created brand equity?
g. Describe your product in terms of its present and past branding strategy(s).
h. Are there any packaging qualities that distinguish your product (provide exhibits and web links to illustrate your product's packaging.
5. Advertising, sales promotion and public relations
a. Does your product exhibit both "product advertisements" and "institutional advertisements?" Give some examples of each.
b. What media does your company use to advertise? Give some examples of each.
c. Based on your personal observations, what are some of the most effective ads for your product? Provide ad examples that illustrate your product's position with a specific target markets. Why do you think these ads are so effective?
d. Does your company use consumer sales promotions for your product? If so, what promotions are used and are they effective? Provide illustrations.
e. Are public relations a part of the promotional mix for your product? If so, describe an example of a public relations piece and state how effective you think the piece was in terms of affecting the target audience.
f. Describe your product's social media platform.