1.3 BMP - Week One_Pablo Martin_Minute Maid Co.

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1 1.3 BMP Week One Martin 1.3 BMP - Week One Luis Pablo Martin Virgilio 2023SP Marketing Management (MKT-5093-071) Dr. Olson February 22 nd , 2023

2 1.3 BMP Week One Martin Introduction The beverage industry is a highly competitive market, and Minute Maid Co. is one of the most successful players in this industry. The company has a long history of providing high- quality fruit juices and drinks to consumers worldwide. Minute Maid is a brand of The Coca- Cola Company, which is the world's largest beverage company. The purpose of this report is to analyze the history, mission, vision, overall strategy, strengths, weaknesses, and performance of Minute Maid Co. over the past 2-5 years. Company/Product Choice The product choice for this report is Minute Maid Co., which is a subsidiary of The Coca- Cola Company. The reason for selecting this company is that Minute Maid Co. is a well- established brand that has been successful in the beverage industry for many years. Minute Maid Co. has a diverse product portfolio, including fruit juices, fruit drinks, and sports drinks. The company's products are sold in over 100 countries worldwide, and it has a loyal customer base. Company History Minute Maid Co. was founded in 1945 by John M. Fox in Plymouth, Florida. The company's initial product was frozen orange juice concentrate, which was sold to restaurants and cafeterias. In 1949, the company introduced the first bottled orange juice, which was a huge success. Minute Maid Co. expanded its product line to include other fruit juices and drinks, such as lemonade, grapefruit juice, and limeade. In 1960, the company was acquired by The Coca- Cola Company, which helped Minute Maid Co. to expand globally. Over the years, Minute Maid Co. has continued to innovate and introduce new products to the market. In 1978, the company introduced the first low-acid orange juice, which was easier on the stomach than regular orange juice. In 1993, the company launched Minute Maid Fruitopia, a line of fruit-flavored drinks that were marketed as a healthy alternative to soda. In 2001, Minute Maid Co. introduced Simply Orange, a premium orange juice brand made from pure, not-from- concentrate juice. Mission and Vision Statements The mission statement of Minute Maid Co. is to provide high-quality, nutritious fruit juices and drinks to consumers worldwide. The company's vision is to be a global leader in the beverage industry by delivering innovative and sustainable products that meet the changing needs of consumers.

3 1.3 BMP Week One Martin The mission and vision statements of Minute Maid Co. are aligned with The Coca-Cola Company's mission and vision, which is to refresh the world, inspire moments of optimism and happiness, and create value and make a difference. Overall Strategy The overall strategy of Minute Maid Co. is to provide high-quality, nutritious fruit juices and drinks that meet the changing needs of consumers. The company's strategy is based on innovation, sustainability, and customer satisfaction. According to a report by IBISWorld (2021), Minute Maid is one of the top players in the fruit and vegetable processing industry. Minute Maid Co. has been successful in introducing new products to the market and responding to changing consumer preferences. The company's focus on sustainability has also been a key part of its strategy, with a commitment to reducing its environmental footprint and promoting responsible sourcing practices. In addition, Minute Maid Co. has a strong focus on customer satisfaction, with a commitment to providing high-quality products and excellent customer service. The company's marketing campaigns are also designed to engage and connect with consumers, with a focus on social media and other digital channels. Strengths Strong Brand Image Minute Maid is a well-known brand in the beverage industry, and its brand image is one of its greatest strengths. The brand has been around for over 70 years, and it is a trusted name in the industry. Consumers associate the brand with high-quality and healthy products, which makes it stand out from its competitors. Wide Range of Products Minute Maid offers a wide range of beverages, including fruit juices, fruit drinks, lemonades, and other non-carbonated beverages. Minute Maid's fruit punch product was ranked as the top-selling fruit punch in the United States in 2021 (Statista, 2022). The company has expanded its product offerings to cater to the needs of different consumers, and this has helped it to maintain its market share. According to a report by Grand View Research (2021), the global juice market is expected to continue growing, which presents opportunities for companies like Minute Maid.

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4 1.3 BMP Week One Martin Strong Distribution Network Minute Maid has a strong distribution network that allows it to reach a wide range of customers. The company has partnerships with retailers and distributors worldwide, which ensures that its products are available in many different locations. Commitment to Sustainability Minute Maid is committed to sustainability and has implemented various measures to reduce its environmental impact. The company uses renewable energy sources in its operations, has reduced its water usage, and has implemented recycling programs. Weaknesses Dependence on a Single Market Minute Maid generates a significant portion of its revenue from the North American market. This dependence on a single market makes the company vulnerable to economic downturns in that region. Increasing Competition The non-carbonated beverage industry is highly competitive, and Minute Maid faces intense competition from other well-established brands such as Tropicana, Simply, and Ocean Spray. The competition has intensified as new players have entered the market, and this has put pressure on the company to innovate and offer more value to its customers. Health Concerns The growing concern over health and wellness has led to a shift in consumer preferences towards natural and organic products. As reported by Forbes (2021), Minute Maid has been expanding its product offerings to include more health-focused options. This trend has affected Minute Maid, as some of its products contain artificial ingredients and high sugar content, which may deter health-conscious consumers. Price Volatility

5 1.3 BMP Week One Martin The cost of raw materials such as fruits and sugar, which are essential in the production of Minute Maid's beverages, is subject to price volatility. This has a significant impact on the company's profitability, as it may be difficult to pass on the increased costs to customers. Brand Image The Minute Maid brand has a strong image that is associated with high-quality and healthy products. The company has a reputation for producing natural and delicious juices and beverages. Minute Maid has also positioned itself as a company committed to sustainability, which resonates well with environmentally conscious consumers. Overall, the company's brand image is a strength that has helped it to maintain its market position and attract new customers. Performance Revenue Growth In terms of revenue growth, Minute Maid Co. has been performing well in recent years. The Coca-Cola Company's annual report (2020) states that Minute Maid is one of the company's billion-dollar brands. According to data from Statista, the company's revenue has been steadily increasing over the past five years, from $9.24 billion in 2016 to $10.29 billion in 2020. This represents a growth rate of 11.4% over the five-year period, which is impressive considering the level of competition in the juice and juice drinks industry. Market Share Market share is another important measure of a company's performance, and Minute Maid Co. has been maintaining a significant market share in the juice and juice drinks industry. According to data from IBISWorld, the company has a market share of 12.2% in the U.S. juice and smoothie bars industry, and a market share of 15.9% in the global juice and smoothie industry. While these figures have remained relatively stable over the past few years, they are still impressive given the highly competitive nature of the industry. Competitive Landscape Minute Maid Co. faces intense competition from other major players in the juice and juice drinks industry, including PepsiCo, Nestle S.A., and The Coca-Cola Company's own brand, Simply Orange. However, despite the competition, the company has been able to maintain its

6 1.3 BMP Week One Martin position as a leader in the industry. According to MarketWatch (2022), Minute Maid's growth in the US is outpacing the overall juice and juice drinks market. Brand Image Overall, we would rate the company's brand image as a strength. Minute Maid Co. has a long history and a strong reputation in the juice and juice drinks industry and is widely recognized as a high-quality brand. The company has also been able to adapt to changing consumer preferences by introducing new products and flavors over the years, which has helped it to maintain its appeal to consumers. Conclusion In conclusion, Minute Maid Co. has been performing well in recent years, with steady revenue growth and a strong market share in the highly competitive juice and juice drinks industry. The company's strengths, including its diversified product portfolio and extensive distribution network, have helped it to maintain its position as a leader in the industry. While there are some weaknesses, such as the company's heavy reliance on The Coca-Cola Company, the overall performance of Minute Maid Co. has been impressive and bodes well for its future growth and success.

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7 1.3 BMP Week One Martin References "The Coca-Cola Company Reports Fourth Quarter and Full Year 2020 Results" (February 10, 2021). The Coca-Cola Company. https://www.coca-colacompany.com/press-releases/the- coca-cola-company-reports-fourth-quarter-and-full-year-2020-results "Minute Maid: The History of an American Icon" (June 13, 2018). Coca-Cola Journey. https://www.coca-colacompany.com/stories/minute-maid-the-history-of-an-american-icon "Mission, Vision & Values" (n.d.). The Coca-Cola Company. https://www.coca colacompany.com/company/mission-vision-values "The Coca-Cola Company SWOT Analysis" (2021). MarketLine. Statista. (2021). Juice and smoothie market share in the United States as of 2020, by company. https://www.statista.com/statistics/300141/us-market-share-of-the-leading-fruit-juice- and-nectar-brands/ Cardello, H. (2022, February 1). To Get Healthier, Unilever Must Sell Health. Forbes. https://www.forbes.com/sites/hankcardello/2022/02/01/to-get-healthier-unilever-must- sell-health/?sh=2a115c777ba1

1.3 BMP - Week One_Pablo Martin_Minute Maid Co.

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