Week 2 Assignment BUS339 100% verified

New product release must be strategized and considered very carefully prior to product launch. Marketing strategy and research must be conducted prior to such grand occasion, as these events can either propel and domin ...

New product release must be strategized and considered very carefully prior to product launch. Marketing strategy and research must be conducted prior to such grand occasion, as these events can either propel and dominate the market or destroy and tarnish the reputation of the product or even the company brand. As an avid beer drinker, I have chosen Coors Rocky Mountain Sparkling Water. Yes, you have heard right: water. Coors Brewing Company is a American renowned beer company that prides itself with its light, smooth lager beer. Is the beer not enough for Coors for it to expand its horizons in the bottled water industry? With this product Coors failed to do such that and in turn received grand backlash from its competitors and more importantly its consumers. It is clear that Coors Brewing Company failed to follow a research design and did not assess its decision to dip its feet in the world of bottling water. Consumer research and feedback would have prevented this bold move from Coors as it would have offered them insight to see if consumers actually want this product. In-house research using surveys would have sufficed and maybe could have altered their decision in this product launch. In my opinion it would have been better off introducing a seltzer. Coors Beer has been brewed its satisfying lagers from the Rocky Mountain Springs since 1873. In 1990, the American pillar of beer decided to step into the bottled water industry as a result of a now health and exercise cautious America. The bottled water industry in the late 90’s and present day is still in great profit. Money talks and Coors Brewing Company had envisioned itself prospering in this market. We have learned that product packaging is pivotal to closing sales as it is the last point of advertising for consumers to either purchase or ignore a product. The company’s marketing design however failed, as the Coors logo was front and center on the sparkling water. This design threatens those exercise enthusiasts as Coors has already made a This study source was downloaded by 100000825931745 from CourseHero.com on 05-14-2021 19:28:21 GMT -05:00 https://www.coursehero.com/file/87816463/Week-2-Assignment-BUS339docx/ This study resource was shared via CourseHero.com name for itself as an alcoholic beverage, the very opposite of health! Having a name as grand as Coors deterred consumers, some not even have known if this was in fact water. Several attempts to market and change the product to appeal to consumers failed. One of the changes were to offer various flavors of water, however without the change in packaging this too failed. Seven years later the company pulls the product off retail shelves. Further research should have been conducted to have made this product successful. It is no doubt that information through public research or even in-house research could have been acted upon to effectively launch this product. We learn from Burns, A. C. & Bush, R. F. that “Secondary information should always be sought. First, it is cheaper and faster to access.” (2012). Take it from the experts, information to further know if the product launch will be successful will in no doubt be effective. Understanding what, how, and why competitors do what they do is a crucial part in marketing research that Coors ignored. Understanding the answers to those questions will determine how Coors’ will successfully sell their product by considering social trends and consumer interests. As mentioned earlier, public research using databases that hold reports of businesses and their marketing strategies would have offered Coors’ information, as it is also cost effective. All establishments and successful businesses must maintain proprietary information, this is what we all know as a trade secret. The high demands and objectives companies must create and endure from creating revenue and profit, to marketing products, sales, and establishing a workforce is only the beginning. We learn from Porter, W. G. & Griffaton, M.C. that successful companies “must do this all while keeping their trade secrets and proprietary information from their competitors.” It is paramount that companies do this to protect their identity and product quality. The manufacturing and production of products define product quality and once this