The company is a real testimony from grass to grace situation. The moment the company was purchased, no one believed that it could ever enjoy such a big percentage of the market share. It, however, did not come from anywhere. The administration in collaboration with the workers has worked hard for the success the company is enjoying now. First, the company had to move out of its comfort zone and invest in new and improved products to match those of already existing players in the markets in the likes of Pepsi and Coke. It has never been an easy task bearing in mind the companies are already established while SodaStream is a mere beginner.
The company was forced to invest in a new market in the sense of coming up with environment-friendly commodities. It used the issue of environmental pollution as their marketing strategy. They invested much in coming up with home machines for making these beverages at home and hence save the environment from the mass destruction brought about by cans and plastic containers (Birnbaum, 2014). Up to date, the company is reaping big from homemade carbonated beverages. They have several brands of flavors that they keep advertising to the world at large and their business at large. It is currently competing almost at the same level as Coke and Pepsi through the following is still growing.
The resilience that the company has portrayed since 2007 can help it become a better brand. The best way is to create a customer base and avoid overpricing of products. Most companies in the present day are collapsing due to the procedures they use in their marketing. In this world of innovation and competition, one has to do proper research of the market conditions before taking the risk of overpricing or under-pricing their products. It is also for a company to keep manufacturing goods of high quality otherwise the customers might run away from the products. SodaStream has found a new market that most people or companies have not invested. The worst mistake the company can make is to be fooled by the little monopoly they are currently enjoying. Instead, more funds should be channeled towards the marketing of their products to find new markets. The company should also refrain from tainting other companies as being bad, yet they are all in business. New ideas should be allowed as far as the company wants to make some positive impact. Change should always be embraced so long as it has some importance to the company at large.
Just as in the course notes, SodaStream has utilized the gap in the market to come up with products that can compete with stakeholders in the market. The best way for a company to retain its levels of competitiveness is by making good market research, creating a bond between the customers, having a constituent price as well as having quality products. The company has invested big I all these and there it remains a big player in the market. Innovation is another trait that has enabled the company to establish its customer base.
Through innovation, better ways of advertising of products are brought in and hence a big share of the market. As much as advertising is crucial in the maintenance of the market, quality of the products should never be compromised (Xue, Zuo, & Xiaolin, 2015). Low-quality products have fewer buyers or in short, one time customers. The company is working day and night to maintain its current market share and as well expand the market. In the long run, SodaStream is a company to watch and soon, it might overtake the rest regarding market share.
Birnbaum, D., & Harvard Business Review (2014, February). SodaStream's CEO on Turning a Banned Super Bowl Ad into Marketing Gold. Retrieved from https://hbr.org/2014/01/sodastreams-ceo-on-turning-a-banned-super-bowl-ad-into-marketing-gold
Xue, W., Zuo, J., & Xiaolin, X. (2015). Analysis of Market Competition and Information Asymmetry on Selling Strategies. SSRN Electronic Journal. doi:10.2139/ssrn.2544946
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