STUDY ON CONSUMER PREFERENCES FOR “Coca Cola”

Market provides a key to gain actual success only to those brands which match best to the current environment i.e." imperative" which can be delivered what are the people needs and they are ready to buy at the right time without any delay. It is perfectly true but this also depends on availability of good quality products and excellent taste and services which further attract and add a golden opportunity for huge sales.
This also depends on the good planning approach and provide ample opportunity plus sufficient amount of products for sales in the coming next financial year.
This survey report introduces study of consumer’s preferences for Coca Cola. After going through a detail analysis of market behavior and future prospect, may also provide an opportunity to Coca Cola to frame a good future plan to satisfy maximum needs of the customers and established its guiding role in the market of Delhi, Ghaziabad, city in particular and through out the country as a whole. The study report will also provide an opportunity to delineate its market potential business areas, products & services are to be offered by the company to the customers.
This study report also provides the various factors affecting the services. Marketing Division of Coca Cola has to keep in mind various factors specially while preparing a plan for marketing its product or services. Detail description along with analysis of surveyed data is being presented in this report

1. EXECUTIVE SUMMARY

The objective of the project is to know the consumers preferences for Cola Drinks, to study the Market Potential of Coca Cola and The report contains a brief introduction of Coca Cola. The company Coca Cola has interests in various sectors and they provide consistent quality products to meet our costumer’s requirement worldwide.

This report clearly mentions objective of the study and the research methodology utilized. both primary data and secondary data. The data collection method used is structured non disguised questionnaire in which the types of questions used are open ended, multiple choice and close ended.

The report contains a detailed view of the tasks, which have been undertaken to analyze the market of Coca Cola. Various sets of questionnaire have been prepared to know the PREFERENCES of consumers about the Coca Cola. Some of the research areas are Delhi, Ghaziabad. This project reveals one of the important findings like more and more displays of the window hiring and can be given to the retail outlets as it has been said that “JItna Dikhega Utna Bikega”. To increase its consumption, more schemes like ‘Seasonal Schemes’ and other schemes can be given to the consumers.
A detailed survey of the consumers was carried to find out their preferences for Coca Cola. The details of the methodology are stated below.

Areas are Delhi, Ghaziabad research design: Exploratory and descriptive. Sources of information are primary and secondary data. Data collection method structured non designed questionnaire.

Types of questions used open ended, multiple choice and close ended. Sampling method is random sampling.

In this study I found that most of the consumers prefer PEPSI as their 1st preference and then Coca Cola.

LITERATURE REVIEW:

1 - A study of factors responsible for brand preference in fmcg sector”

The purpose of this paper is the study of factors responsible for brand preference in fmcg products, increasing competition, more due to globalization, is motivating many companies to base their strategies almost entirely on building brands. Brand preference means to compare the different brands and opt for the most preferred brand. This brand preference is influenced by various factors.
According to this study many factors were find out for preferring a brand like
Brand persona
Brand constancy
Brand loftiness
Brand value.
In the identification of factors affecting the brand preference, it was concluded that brand persona is the most effective factor that affects the brand preference. This brand persona deals with the personality aspects or the external attributes of brand, thus it can be said that consumer prefer any brand by looking at the external attributes of a brand.

-journal of ims vol 5 no.1, jan-june 2008

2 - Colour and flavour rule consumer preferences: Study

The intensity of colour and the flavour are the key drivers behind consumer acceptance of beverages, says a new study involving DANONE. But packaging and labelling are not as important for winning over consumers, according to findings published in the journal Food Quality and Preference, The study involved consumers at different stages of development and highlights the importance of adopting a “sensory marketing approach,” said the researchers from French research organisation Adriant, the University of Rennes 1, DANONE R&D, and Institute Paul Bocuse.
“Companies need to continuously innovate to maintain market leadership,” wrote the researchers. “When the market is overloaded the challenge consists in creating innovative products able to attract and satisfy consumers.” “This experiment showed the feasibility of the proposed multi-sensory design method based on mixed qualitative and quantitative approaches.” The study also demonstrates the importance of flavour and colour selection for new products.
The global flavours market was been valued at some US$18bn in 2006 (Business Insights). Meanwhile, the value of the international colourings market was estimated at around $1.15bn in 2007 (€731m), up 2.5 per cent from $1.07bn (680m) in 2004, according to Leatherhead Food International (LFI). Natural colours now make up 31 per cent of the colourings market, compared with 40 per cent for synthetics, according to LFI.

Bombarding the senses

By choosing to formulate a new beverage, the researchers noted that the new product would need to be differentiated by improving the sensory characteristics.
Four factors were identified for the formulation: four colour intensities), three flavourings, two label types (soft versus hard), and two pack sizes (standard versus oversize). By using both quantitative (hedonic testing) and qualitative (focus groups) approaches, the researchers found that “the main factors which drive consumer preference for this concept are colour intensity and flavouring”. Indeed, colour intensity accounted for 43 per cent and flavour 32 per cent of the consumers’ overall liking. “Pack size and label type are taken into account by the consumer to a lesser extend,” they added. “This methodology of a qualitative screening associated to a conjoint analysis on relevant sensory attributes has shown good performances to fit consumers’ expectation: it has now to be reproduced, as every brand, concept and product is a unique combination designed for a specific consumer group,” concluded the researchers

Source: Food Quality and Preference
Volume 19, Issue 8, Pages 719-726
By Stephen Daniells, 07-Oct-2008

3 - Taste or health: A study on consumer acceptance of cola drinks

This study examined the relative contributions of taste and health considerations on consumer liking and purchase intent of cola drinks. Eight types of commercial cola drinks were evaluated by 305 adult consumers who also completed a brief questionnaire on food habits. Data were analyzed using factor analysis. Results revealed that purchase intent of cola drinks was strongly related to degree of liking and to several key sensory attributes including saltiness, drinks flavor and greasiness. These variables emerged as the first factor in the analysis, suggesting that consumers perceive these characteristics as being most important in their choice of cola drinks. Factor 2 described a health dimension and was related to respondents' attitudes toward fat in the diet. Factor 3 comprised two remaining sensory attributes (color and crunchiness), which apparently were of minor importance to the respondents. These data suggest that in spite of current concern about reducing dietary fat, health remains secondary to taste in the selection of cola drinks for consumers in this population.

Source-Beverly J. Tepper and Amy C. Trail Journal of Food Science and Technology, 15 September 1998
.

4 - PAIRED PREFERENCE TESTS USING PLACEBO PAIRS AND DIFFERENT RESPONSE OPTIONS FOR Cola Drinks, ORANGE JUICES

Preference tests were performed for varieties of cola drinks, orange juices and using three response protocols: the traditional paired preference test with the "no preference" option, a 9-point hedonic scale and a 6-point hybrid hedonic/purchase intent scale. The different stimuli to be assessed were presented in pairs, but putatively identical stimuli were also presented as a "placebo" pair. Performance on the placebo pair with identical stimuli provided a measure of the hidden demand characteristics of the test protocol. The presentation of the different pairs provided a measure of preference accompanied by such hidden demand effects. Comparison between the two allowed a better measure of preference per se. The order of presentation of the identical and different pairs did show occasional slight evidence of contrast effects. For the placebo "identical" pairs, a majority of consumers reported false preferences. Liking questions with the hedonic and hybrid scales elicited fewer false preferences than preference questions with the paired preference protocol. Yet, the effects tended to be slight. The 6-point hedonic/purchase intent scale exhibited the fewest false preferences in the placebo condition, and this was because of its fewer categories rather than any cognitive strategy change elicited by its different labels.

Source-Davis Woman’s
Journal of Food Science and Technology, July 31, 2007

5 - “consumer awareness and consumption pattern of food products”

This paper aims to investigate the degree of brand awareness of various food products in relation to background and education of the household, the consumption pattern of various food products consumed by respondents in the light of their areas, income levels and education. a sample of200 respondents comprising 100 form rural area and 100 from urban area were taken. Data are analyzed with the help of mean.SD,co –efficient of variance-test and f-test.

The finding of this study reveals that there is low degree of brand awareness in rural areas, whereas there is a moderate degree of brand awareness in urban India. The highly educated rural and urban respondents have high degree of brand awareness for many food products, and the less educated rural and urban respondents have low degree of brand awareness for many food products.

- Journal of ims vol 3 no.1, jan-june 2007

3. COCA-COLA COMPANY PROFILE

Douglas N. Daft was elected chairman, Board of Directors, and chief executive officer of The Coca-Cola Company on February 17, 2000. Mr. Daft is the 11th chairman of the Board in the history of the Company. Mr. Daft, 60, joined the Company in 1969 as planning officer in the Sydney, Australia office. He held positions of increasing responsibilities throughout Asia and in 1982 was named vice president of Coca-Cola Far East Ltd.
In December 1988, Mr. Daft was named president of the North Pacific Division and president of Coca-Cola (Japan) Co., Ltd. He moved to the Company's Atlanta headquarters in 1991 to assume the responsibility of president of the Pacific Group and in 1999 his responsibilities were expanded to include the Company's Africa Group, and Schweppes Beverage Division, as well as the Middle and Far East Group. Mr. Daft was elected president and chief operating officer of The Coca - Cola Company in December 1999. He serves on the boards of Sun Trust Banks, the Boys & Girls Clubs of America, Catalyst, the CERGE-EI Foundation(Center for Economic Research and Graduate Education - Economics Institute) in the Czech Republic, the Lauder Institute for Management and International Studies at the University of Pennsylvania, the Prince of Wales International Business Leaders Forum, the Grocery Manufacturers of America, the British - American Chamber of Commerce, the G100, the Woodruff Arts Center, the Commerce Club, and the McGraw-Hill Companies. Mr. Daft is a trustee of Emory University, the American Assembly and the Center for Strategic & International Studies. He is also a member of The Trilateral Commission, The Business Council, and The Business Round table. Mr. Daft received a bachelor's degree in mathematics from the University of New England and a post-graduate degree in administration from the University of New South Wales. He holds an honorary doctorate in international law from Thunderbird, The American Graduate School of International Management.

HISTORY OF COLA

The cola industry has phenomenal possibilities for rocketing profit growth inspite of the sign of relief heaved by the manufacture at the abrupt sensational termination of Coca Cola monopoly the tastes of cola is by no means extinguished the coca. Cola have a status symbol to it..., generated by the sub standard, penetrated, advertising and extensive distribution network.
Total soft drink segment is growing at the rate of 10% per year still if international standard area considered the per capita consumption of three serving in rock bottom, less than even our neighbors’ Pakistan and Bangladesh, where it is four more as much. So with kind of a market potential coke entered in India in 1991 after the permissions of setting up Britico Food company to coke was granted by the government in Pune in 1992 the plant was established for is deducted then the bottle are taken out of the line and Cleaned again or rejected.
The most important step is the mixing of drink concentrate dissolved in the soft water the sugar syrup at the same time. Carbon dioxide is passed in the drink to produce a fizz.
After the crowing of the bottle the crown contains the manufacturing data batch number and Time.

4. PRODUCT PROFILE

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