Identify the innovation issues.
The main issue that will be faced is that the existing machines will have to be replaced as Coca-Cola currently is dispensed by a machine that dispenses several types of soft drinks such as Sprite, Pepsi, Solo and many others. Furthermore, there are already separate Frozen Coke machines in Australia in supermarket and shopping malls. For an example, K-Mart in Waratah West has installed a machine that dispenses only Frozen Coke.
Additionally, The Company will have to bare a huge cost to produce and replace the machines that are already in use. Removing and refurbishing will require labour and equipment. This will be an issue as the company will have to provide funds to get this done.
The last issue that has been identified is that Coca-Cola will have to re-advertise the new product. Marketing and advertising will need a new or already existing team to come up with new branding and ideas for the advertising. Filming and shooting ads will require money and time and the chances of success are usually 50%.
Identify and analyse the necessary resources:
As mentioned above, re-advertising the new product will require a new team of employees to come up with new branding ideas for advertising and marketing purposes. People with specific skills are required in all departments to achieve the purpose of this innovation.
In order to progress with this new innovation in the market today, the company will have to fund in each department. In other words, producing, replacing, marketing and advertising the next product will cost the company a huge amount of money. Moreover, purchasing raw materials to construct and design will increase budget.
Coca-Cola has bonds with several fast food chains such as McDonalds, Burger King and Hungry Jacks. These franchises market both Frozen Coke and fountain drinks under the Coca-Cola Company such as Sprite, Schweppes and Fanta separately. The machines in every outlet have to be replaced. Additionally they also need to build new relationships with other untapped markets.
Product & Processes
The innovation of the new product which dispenses both frozen and fountain drinks under Coca-Cola which includes Dr.Pepper, Fanta, Sprite, and all types of Coke