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Innocent Drinks was set up in 1998 by three best friends of Richard Reed, Adam Balon and Jon Wright. The company is known for their

Innocent Drinks was set up in 1998 by three best friends of Richard Reed, Adam Balon and Jon Wright. The company is known for their fruit smoothies and a brand image of being natural. Innocent Drinks has a reputation of doing things "a little bit differently". For example, the three friends' original market research of whether they should go to a smoothie business or not, was based on bins; when people purchased smoothies in a music festival in London, they were asked to put the empty container to a bin saying "yes" or "no" regarding whether they should get into business selling smoothies. At the end of the festival the "yes" bin was full and the "no" bin was not. Task 1 (LO1) Critically evaluate Innocent Drinks non-traditional ways of doing business. Assess benefits and drawbacks of using non-traditional ways of making decisions, such as how Innocents Drinks set their product pricing policy. Task 2 (LO2) Innocent Drinks sold estimated 10-20% of the business to Coca-Cola company for 30 million in 2009. By 2013 Coca-Cola owned over 90% of the Innocent Drinks. Using one of the behavioural economic theories, critically assess did Innocent Drink make the right decision to sell part of their business to Coca-Cola? Justify your viewpoint. Task 3 (LO3) Create PESTLE analysis and business SWOT analysis of Innocent Drinks in 2023. Identify key risks and opportunities for them and justify your rationale why these are the key issues. Add conclusions to your analysis and recommend next steps the Innocent Drinks should take. Please, create the graphics for demand, elsticity and supply etc based on this brief requires

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