Marketing Essay Example | Topics and Well Written Essays - 1750 words - 12

Marketing - Essay Example Eventually, the product got to the stage of market development where the parent company described its target market, the market share, the sales, planned value proposition, and their profit goals. Finally, McDonald carried out a business analysis on the product through a review of its profit projections, costs, and sales to define if it fits into their company objectives. After this stage, the product was pushed to the product development, where they created McLobster. They consulted specialists in seafood. Finally, McDonald performed their test marketing by bringing McLobster, as well as its marketing program, into the real market conditions. At this point, they offered McLobster to its target market at particular locations. Test marketing for a company like McDonald is quite easy since they experimented with a product like McLobster at their own restaurants by carrying out local and small promotions and offering it under â€Å"NEW† on the menu. However, McLobster was not profitable enough for McDonalds to commercialize it, although, it is given as a seasonal product (Mills 35). Cited as one of the most notorious brand missteps of all, it was launched buy Coca Cola in the mid-80s in an attempt to stay ahead of its competitors during the famous â€Å"cola wars†. It was introduced in a way that made regular coke drinkers feel like they did not matter to the company, which led to a product boycott (Haig 23). This cola was introduced in the early in 90s and had no lime/lemon flavor unlike other clear and carbonated drinks, although it also did not possess the usual flavor prevalent in colas either. The soda, despite an expensive and glitzy media campaign, failed to catch. They lost millions trying to guess at straws and have not fully recovered yet (Haig 40). This error has informed most competitors not to change acceptable norms like cola colors. This burger was launched by McDonalds at a cost estimated