Product and Service Innovation in Coca Cola

Products from Coca Cola Company have over time experience tremendous success ever since the beginning of the product. Everyday walking across streets, people are seen holding soda bottles on their hands and evidently from Coca cola Company. One successful factor that has ensured success of Coca Cola Company products has been often linked to more investments in relation to money, time and resources (Cooper 1999). Customer satisfaction is a different success factor that has been developed by the Company. Once the customer is satisfied, there is increase in demand of the product and ultimately increase in sales and overall success of the company. For customer satisfaction, there must be prior conduction of field trials, market test and customer to know the tastes and preferences of the customer. Coca Cola Company has used unique customer benefits to gain higher product advantage against its competitors and thus exceptional success of Coca Cola Company products (Cooper 1999).

The Ben-Gay Aspirin has been named the biggest product that did not guarantee market success. Having a big name does not necessarily guarantee success especially if customer perceptions about other related products are negative. Customers could not find confidence in a product that initially they though were related to a burning sensation. Even though the product was designed for pain relief, customers could not get a taste of what made them develop a burning sensation. The fatal mistake that Ben-Gay did was to attach a negative recognized brand name with something that was differently out of character. The company did not find out the requirements, specification and relevant needs of the customer and thus failed to position the product effectively in the marketed. It can also be said that probably also failed to have accountable, dedicated, cross functional teams with strong leaders who are perfectly committed to the success of the product (Cooper 1999).