Weather can be a determining factor for your Product Development idea
Product Development affected by the slow economy
Chinese Market is the leader in product development ideas
Hello there readers!
Hopefully summer is treating you right and it is not as hot as California where you live. Here in sunny San Diego we are beating the weather by coming up with some new, refreshing beverages as product development ideas. This climate makes it prone for us to be creative, so we are eager to hear about new clients and their products.
A company that is not feeling quite as content is Coca-Cola. The beverage mogul has basically conquered the soft drink world. But being this successful does not guarantee the stability of a brand. Many factors can affect the rise and fall of a product development idea.
Europe, Asia and Latin America are huge targets for the brand, and their slow economy made it hard for Coke to have the expected performance for the Q2 2013. Still, this factor could have been predicted with in depth analysis and good advisors.
Something that not even Coca-Cola can control is the weather. Historically wet and cold climates made it hard for the brand to make it big this first part of the year. The company fell in its volume gain a surprising 4% in Europe, 1% in North America, and remained flat in China and Brazil. Still, the company seems hopeful.
When addressing the issues above, CEO Muhtar Kent stated, “All of these things we don’t expect to continue at the same time, therefore, the portafolio will work”
On the bright side, their product development strategy for the Chinese market seems to work. Even though they remained flat, they are the leader for soft drinks and juices. They cater differently to this market, so the packaging and innovation have to be done specifically for the consumer’s needs.
So, what have we learned today? That even Coca-Cola can’t guarantee that their product will be sold at the particular rate that they want it too. There are many factors that influence the success of a product development strategy, and some of them we cannot control. What you can do is make sure that you have all the elements that are available for your possibilities and consumer needs, so that when the unexpected happens you at least are prepared for it.
Want to know how to do this? Easy, call us first and we will tell you how! Our number is 1 888 276 5688. We are eager to start working on your product development idea!