Over the past year, Coca-Cola has experimented with bizarre, limited-time flavors and immersive online experiences. Now, it’s setting its sights on adding more varieties of cans, bottles and value packs to offer cash-strapped consumers more options — even if that ultimately means paying more for less.
Click here to read the story at cnn.com.
- Based on what you learned in this news story and what you have observed as a consumer, how would you describe Coca-Cola’s marketing strategy over the last year?
- According to this story, how might that strategy be shifting next year?
- Why is price an important component of the marketing mix?
- What is inflation?
- How does inflation impact the marketing mix?
- How has inflation impacted Coca-Cola’s business and marketing strategy?
- What is packaging?
- This news story references “package innovation.” What does that mean?
- How is Coca-Cola adjusting its packaging next year?
- Why are they changing the packaging? Do you think that represents an example of package innovation? Why or why not?
- What are profits?
- Why are profits important to a business like Coca-Cola?
- How might the new business and marketing strategies help Coca-Cola to maximize its profits next year? Be prepared to discuss your answers in class.