This paper identifies the problem and unmet opportunities related to Coca-Cola Company. It develops an innovative strategy to address the problem. It used innovative business design model to solve-out the problems and take them as an opportunity for organization. The use of IBDM is effective for the creation of an innovation business product. Following are the different steps of IBDM that helped to find-out problem and opportunity for Coca-Cola to made a strategic decision and become more innovative: Assessing the Situation
Coca-Cola is the most popular soft-drink company in the world. It provides more than 3500 beverages from diet and regular sparking beverages. In the analysis of Coca-Cola, it is identified that it prefers mostly soft drink products and does not provide health drink products (The Coca-Cola Company, 2011). It affects market of the company because competitors provide health drinks to customers. Coca-Cola provides several beverage products but these do not consider the proper nutrition in the products, so they could affect the health of its customers.
Products of Coca-Cola affect the heaths of the customers because they contain low calcium, high protein, high sugar, high acid, and trace mineral deficiencies (LiveStrong. Com, 2012). Customers could require health and balance nutrition products, so company could focus on innovative new products by maintaining good nutrition. Currently, customers are reducing the consumption of junk food and soft drink because they affect the health and fitness of them. It believes to provide healthy products to customers, so they require new health drink product to increase the market share.
It is also required to focus on health drinks such as fruit juices, energy drink etc. Identify Problem/Opportunity Soft drink includes high sugar, low calcium, high protein and high acid, which would have a negative impact on the fitness and health of the customers. Most of beverage products include over 100 percentage of the RDA of sugar. Soft drinks interfere with the body’s ability to use calcium that affects the teeth and bones of human being. Soft drink increases the obesity problem as well as menopausal symptoms in customers (iHealthStudio, 2011).
Coca-Cola Company also provides Minute Maid juice and juice drink in the worldwide. They naturally contain fructose, glucose, sucrose, sugars that provide carbohydrates and calories (The Coca-Cola Company, 2011). Health drink not provides proper nutrition for the customers because it is also increased the carbohydrates in customers due to high quantity of sugar and sucrose. Due to these problems, Coca-Cola has the opportunity to cope with the current customer needs by introducing more innovative healthy products, which provide balanced nutrition and contribute to maintain the health of customers.
Concept Development Coca-Cola should bring innovative new energy drinks in the market to maintain and increase the brand image and position in the market. It is focused on nutritional content of energy drinks and complied with the local and regional government guidelines related to labeling and nutrition. Energy drinks through Coca-Cola contains the caffeine concentration in an 8- to 12-oz. bottle that is about 72 to 150 mg. Energy drink boost energy for customers because it contain sugar and caffeine, which provides a variety of stimulants, vitamins and minerals.
There are people who require high energy to complete tasks, so they prefer energy drinks instead of soft drinks. So, Coca-Cola could innovate a new energy drink which could provide balance nutrition. It should bring innovative energy drinks in different flavors and different quantities to attract the customers. This beverage is intended to energize the customers that provide relation and energy for them. It should also follow the strategy to provide nutrition labeling information for health drink to attract new customers. Energy drink is effective to attract both young and old clients, which will help the company to cover the market.
It also attracts the athletic and sports persons because it provides energy for them. Prototype Development In next step, it will build a prototype by proving health drink in one city and will evaluate the response of customers for new products. A prototype is original products according to the concept development and it is developed by taking sample and collecting information related to new product (Behrens, 2009). The company opened its door to see the response of the consumers, so they could modify the products according to the requirement of market.
It is an effective way to collect the information and find the result of sampling of products. If customers give positive feedback for healthier drinks then the company will see the need to fulfill the legal process to manufacture the product. The company will collect responses from the customers in different favors of health drink. It will modify their health drink, if required then they will move towards the next stage for innovative new product. Prototype development process reduces the possibility for failure of health drinks in the worldwide market.
It will be helpful for company to develop the health drink beverage in worldwide market and take a significant position in the market. Implementation, Validation and Refinement In the last stage of innovation, Coca-Cola will be following implementation, validation and refinement of its health drink. In this process, the company improves the health drink according to the result of sampling. The company will test the health drink by examining and interviewing the customers and collect opinions from them concerning customer satisfaction and will ask them for recommendation for improvement of the products (Chesbrough, 2010).
The company will analyze the perception of its clients for improving the health drink and then implement the final product. It will be an effective way to validate the health drink and to establish the innovation in the global market. Unique Nuances Innovation Business Design Model (IBDM) is specific to innovation of health drinks in Coca-Cola. Health drinks of Coco-Cola Company will be focused on the health and fitness and health of the customers to develop healthy environment in world (Etro, 2007).
Health drinks will be unique for customers because it boosts the energy for consumers through maintaining the nutrition and vitamins. It will increase customers’ satisfaction through fulfilling the diet and nutrition need for them. Conclusion From the above discussion, it can be concluded that Coca-Cola soft drink is facing health related problem among its customers. From the IBDM process, it could be defined that it is a major problem that is affecting its position and also creating opportunity for Coca-Cola to take strategic decisions for becoming more innovative.
January 9, 2018
Hi there, would you like to get such a paper? How about receiving a customized one?Check it out