Question: 1 after reading the first case write down a specific...
1. After reading the first case, write down a specific problem definition. What precisely worded problem are you going to solve? Complete the sentence: The problem I am going to solve is . . .
The problem I am going to solve is the decrement of the market shares of Coca-Cola between its customers.
2. Now identify at least four or five alternative solutions. What ideas do you have for resolving this problem? Complete this sentence: Possible ways to resolve this problem are . . .
Possible ways to resolve this problem are given below:
1)Using your brand loyal customers and corporate sectors to maintain Coca-Cola as their top priority as the brand used in choice for events and other functions.
2)Bringing a discount or a rewards system for the wholesalers and distributors which gives them incentives when the sales go up.
3)Investing and modifying the marketing strategies by adding more catchy phrases and images to improve the product popularity amongst the consumers.
4)Bring in new flavours and varieties for the product so that the consumers stay connected and eager to try the new additions.
5)Advertising according to the audience and the geography rather than using general advertisements. Targeting consumers according to their interests and adding new geographical locations would also help the product to improve sales and develop a new customer base.
3. Next, evaluate the alternatives you have proposed. Make sure you don’t evaluate each alternative before proposing your complete set. Evaluate your set of alternatives on the basis of these criteria: Will this alternative solve the problem you have defined? Is this alternative realistic in terms of being cost-effective? Can this solution be implemented in a short time frame?
Let us consider the second point in the last solution:
“Bringing a discount or a rewards system for the wholesalers and distributors which gives them incentives when the sales go up.”
Yes this alternative can help to solve the defined problem.
This alternative is coat-effective as we will be rewarding the distributors who would improve the product sales significantly. This means that the cost of provided rewards would be covered with the improving sales.
Yes, this solution can be implemented in a short-time frame just by defining the threshold sale values for various rewards and all the distributors are notified about the benefits of selling the product.
This may help in improving the sales to a great extent.
answer the number 4 only please
4. Now write down your proposed solution to the problem. Be specific about what should be done and when. Be prepared to share that solution with other team members.