Question

Question: Using the idea you have chosen for your project, describe how you will evaluate the success of the new product or service and its branding. Suggest process(es) outlined in the text and explain what feedback loops will occur.

My answer:

My idea is that Coca Cola Company should launch ready to drink tea in the Indian market. There are a few processes that can be used to implement to evaluate the success and failures of this product in the Indian market. The first advice is the demonstration of focus groups that will give an opportunity to a wide array of customers to try out the ready-to-drink coffee and similar products and provide their overall feedback regarding taste, price, quality, ingredients and overall experience in the coffee cafe. The main aspect of evaluation through the focus group is to have access to on-time feedback and then provide the evaluation results back to the company in order to bring changes in the final beverage to settle down any major issues. The Coca Cola Company wants to create an excellent experience for their customers from the moment they enter the coffee cafe until leaving before the final product is launched to the Indian market.

On the other hand, a survey will be conducted from various age groups and from varied financial backgrounds to understand why and how much they will be willing to spend on the RTD coffee, the amount they will be comfortable in spending and how often would they be willing to spend their money in the coffee cafe. This feedback will be taken back from the final survey and loop it back into the benefit of the product and how much will it be valuable as a whole. This is important because this will help in determining the amount customer is willing to pay, when, and how much. This would help to bring any adjustments in cost and final price before the product is launched in the market.

As the ready to drink coffee is launched in the market, the company will have a team that will focus on collecting customer’s data in nearly all major cities to see where the willingness has occurred, what improvements can be made, and how the product can be improved to meet the taste buds of Indian market. This feedback will be compiled in bi-monthly reports in order to stay on the same page so that Coca Cola company can review that product is successful and where the push and promotional efforts are required to keep customers engaged.

For chegg: discuss other integrated factors that may affect implementation of the review system.

Answer 1

Other integrated factors that may affect implementation of the review system are the organisation wide accessibility of the information collected through surveys and feedback. Sharing of inputs between various functional teams like marketing, finance, projects , research and development, IT and operations also affects the implementation of the review system. If the company has a decentralized structure with different global teams, the feedback will be implemented accordingly considering the local market feedback and surveys. Use of common platforms like knowledge database, online communication boards and intra net helps in implementation of the review system and sharing of information and ideas. The company can also implement reward and incentives for achieving the expected goals and objectives and improving the product and service through implementing review system can also have positive impact.