New product plan Essay Example | Topics and Well Written Essays - 500 words

New product plan - Essay Example In the modern world, consumers are increasingly becoming concerned about their health. This explains the reduced consumption of carbonated drinks (Science Direct, 1999). Canki should therefore consider this in the production process (Duncan, 2005). Additionally, the company should be concerned about the increased attention concerning waste management. Canki should employ the latest technology in producing and marketing the new product. It employs social media and internet advertising. Technology is among the most important aspect that will be used as a source of competitive advantage (Duncan, 2005: 67). There has been an increased demand for environmental awareness owing to increased pollution as well as due to limited resources. The company should therefore consider production methods that consider these aspects. The product has diverse designs that appeal to customers from various market segments. The product is highly convenient and has been packaged in a reusable can (Duncan, 2005:72). The product has also been produced in an environmentally friendly process that conserves energy and minimizes wastes. Finally, the product can be kept cold and has bubbles. One of the major weaknesses of the product is that its price is higher than that of other soft drinks in the market. This could have a negative impact on the sales (Lomax, 2007: 129). Secondly, the can cannot store hot drinks. Being a new product in the market, Canki is concerned about increasing awareness of its brand to the consumers (Lomax, 2007: 126). This will help to increase the company’s sales. Secondly, the company aims to improve its packaging from using plastic bags to Kraft paper page. Thirdly, the company aims to increase the price of the product from  £7.99 to  £4.99 to increase its profits. Finally, the company aims to penetrate diverse markets across the