Question

The Hayso company is a regional soda company in the Midwest. It started out making a handful of sodas like cola, diet-cola, orange soda, etc. Over the years, sales have decreased as new companies arrived and addressed a growing desire for specialty sodas. What is triggering the Hayso's soda company to reposition itself

Answer 1

The answer is: competition and consumer trends

Competition would most likely reduce a company's market share since some consumers are bound to prefer another company's product whether due to their prices, quality, or marketing strategy. Consumers trends affect the type of products that are popular in the market.

To address both of this issue, creating specialty sodas can be a perfect strategy. Since it differentiate hayso's product with other competitors and the differentiation could be designed to target current trend.