The legal marijuana industry is booming, and Coca-Cola could be jumping in
In every popular city, there is bound to be a marijuana dispensary around the corner. Selling products from edibles to concentrates, if you can think of it, you can put marijuana in it. Now one of the biggest giants in business wants to take a stab at the market.
This promotion from Coca-Cola actually took me by surprise. I view Coca-Cola as more of a family-friendly company, so seeing them take a step into something that isn't even federally legal raises my eyebrows. AdAge begins the article by explaining that Coca-Cola has not made a decision, rather that they are just eyeing the industry. AdAge continues to explain that the new drink will not be laced with any psychoactive ingredient, but infused with CBD the non-psychoactive compound.
Coca-Cola's value proposition still stands as one of the most popular in the world, taste the feeling. The beverage is to be enjoyed with every meal, friend, and family. This marketing approach would be categorized under a new product launch, and most likely a successful one.
As of right now, I do not see any challenge that Coca-Cola would face. Other than a couple of Coca-Cola loving anti-drug persons becoming upset, I doubt there will be any public relation backlash.
Now there are already many CBD infused drinks on the market so this product launch would not be anything new, however, a brand as big as Coca-Cola would easily dominate any competitor in their way.
If I were the brand/product manager for Coca-Cola, I would not move into this market. I think Coca-Cola should stay where they are as the perfect family-friendly drink. Although I imagine the sales would be spectacular, this is just too big of a step. It was smart however to use only a non-psychoactive ingredient because a drug-induced fatality from a Coca-Cola product would not look good for their public relation platform. From this article, I learned if there is a market that can be tapped into, chances are you should take a swing at it.
Article Link: https://adage.com/article/cmo-strategy/coca-cola-eyeing-cannabis-market/314949/?CSAuthResp=1538773726353:0:2489268:0:24:success:6FDF34381A0CAA84BBC90F5C5205BD3C
Relevant Link: https://us.coca-cola.com/
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