Reference no: EM133227036

OVERVIEW:  Chose (Nokia)

Marketing and communication are key elements of every organisation's activity Their importance is also growing in the non-commercial, public, and voluntary sectors. At the heart of marketing is the customer.

As a marketing specialist, you have been appointed by the product manager to oversee and plan the relaunch of a product into the market. You have been given a choice of two products: the Nokia 3310 and ‘New Coke', by Coca Cola.

DESCRIPTION OF THE TASK - WHAT YOU ARE BEING ASKED TO DO

PORTFOLIO INCLUDING PRESENTATION SLIDES AND SCRIPT (2,500 WORDS)

For the purpose of the Presentation and Report you must choose either the Nokia 3310 or the Coca Cola drink. Both products are no longer on the market for many reasons, but both companies felt now was the right time to relaunch.

Nokia 3310

After 17 years Nokia has decided to relaunch the Nokia 3310. Nokia first launched the phone in the year 2000. The original handset was considered as iconic because of its popularity and sturdiness (Ahmad .et al, 2019). More than 126 million were produced before it was phased out in 2005. The 3310 was the first mass-market mobile and consumers have a massive amount of nostalgia and affection for it. The new 3310 qualifies as a "feature phone" rather than a smartphone as it only provides limited internet facilities. It relies on 2.5G connectivity - which has slower data speeds than 3G or 4G - and is powered by the S30+ operating system, which allows web browsing but has a much smaller range of apps than Android or iOS. Its single camera is also restricted to two megapixels. However, its advantage over more powerful handsets is its battery life. It has up to a month''s standby time and delivers more than 22 hours of talk time. Its launch price is €49 ($51,75; £41.51). There is a huge audience for a return to a time when all you could do with a phone was make calls and play Snake.

Coca Cola

On May the 8th 1886 the first bottle of Coca Cola was launched. In April 1985 Coca-Cola Company introduced reformulated Coca-Cola, often referred to as "new Coke," marking the first formula change in 99 years. Consumers protested the new coke, which led to the return of the original formula, now called Coca-Cola classic after only a few months. The story of "new Coke" is widely recalled, but the context is often forgotten. In 1985, The Coca-Cola Company''s share advantage over its main competitor for 15 years, its flagship market and flagship product had been steadily declining.

The cola category in general was lethargic. Consumer preference for Coca-Cola was dipping, as was consumer awareness. To revive its position in the cola market, Coca-Cola decided to make a sweeter version of coca cola, which, according to 200,000 consumers who conducted taste tests at the time, was preferable (Blanding, 2011). That changed, of course, in the summer of 1985 as the consumer outcry over "new Coke" was replaced by consumer affection for Coca-Cola classic. The iconic drink "New Coca Cola" was withdrawn after only 79 days on the market. This relaunch will take place in honour of the Netflix series Stranger Things. For a limited time, consumers can purchase New Coke, which is made from the same recipe as the 1985 version, as part of a bundle.

Task 1 - Report

1) M (625 words approximately).

2) Research Methods Selection: As part of the relaunch, you are required to carry out market research. Prior to your market research you should identify the research requirements to prepare for a successful relaunch of your selected products and solve any marketing problems from the first launch. You will identify and select some methods of research, then discuss their suitability. You must also discuss methods that you have not selected and explain why these are not appropriate for this research (625 words approximately).

3) Market Research Plan: You will create a detailed market research plan and carry out the research. This should include the variety of methods that you have selected from the previous section (section 2 Research Methods Selection). Your research findings must include details appropriate to develop a successful marketing campaign in a digital world. After the completion of your research, you must discuss the strengths and weaknesses of the research and its findings in relation to the product relaunch (625 words approximately).

Task 2: Group Presentation Tasks (4 students) (approximately 625 words)
1) Produce a presentation with images and bullet points in each slide that ‘pitches' the planned product relaunch to the chosen company executives. The pitch should include all of the following:
a) Identification of target audience and market segmentation.
b) An identification of the projected success of the product based on the market research.
c) Selection of promotional mix for a successful marketing campaign in a digital world.
d) A detailed explanation of how an effective marketing campaign can help lead to commercial success (Slides should be added as an appendix).

You must reference all information used in the Report and presentation materials using the Harvard Referencing Guide.