Marketing Strategy of Coca ColaEssay Preview: Marketing Strategy of Coca ColaReport this essayCollege of Technology LondonMarketing StrategyOf(Source: Google images)Module name- MarketingModule code- SBMG5002Student ID- 29001943/1Student name- SUYESH SHARMA Date= 17th December 2010Table of ContentsExecutive SummaryMethodologyIntroductionMarketing StrategyCoca-Cola the Beverage GiantBackgroundMarketing Strategy of Coca-ColaMission, Vision and Values of Coca-ColaMission StatementVisionValuesPorters Five Forces AnalysisPorters 5 Forces ModelPESTLE AnalysisPolitical AnalysisEconomic AnalysisSociological AnalysisTechnological AnalysisLegal AnalysisEnvironmental AnalysisSWOT AnalysisStrengths-Weakness-Opportunities-Threats-ConclusionRecommendationsReferencesExecutive SummaryIn this report you will be going to see various aspects of marketing strategy and tactics adapted by Coca Cola in order to perk up their business performance. Furthermore, you will find some marketing theories proposed by different authors and on the basis of these theories, there are relevant critical evaluation, recommendations and proposals for the betterment of the company.
MethodologyFor the given topic about marketing strategy, I have chosen report format to carry out my work. For completion of this report the main sources were the books from various libraries, e-books, companys website, different articles, journals (available on internet).
IntroductionAccording to Peter Drucker in the Practise of Management, “There is only one valid definition of business purpose: to create a customer therefore, any business enterprise has two and only these two basic functions: Marketing and Innovation. They are the entrepreneurial function. Marketing is the distinguishing and unique function of the business”
In common word, marketing is process which tells an organisation that what should be done to create and exchange the values with customers. In this sense, there is a very crucial role of marketing in setting the strategic direction for an organisation. (Silk, 2006, p.7) Marketing is very important than any other function of business. In this 21st century the concept of marketing has been changed a lot, in comparison to the past. In the past the main focus of the marketing was on the product and sales on the contrary, nowadays the main focus of the business in their marketing is to increase the customer service, customer relationship and customer value. This view is supported by the American Marketing Association, “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders”. (Durham University)
The importance of marketing will be reflected in the following ten statements. Marketing is an internal and external function of a company. It is one of the most important components in the business model. Marketing is a critical component in the organisation’s overall business strategy. Marketing serves to promote and assist the organisation. This is due to the fact that there need to be an understanding among the staff about who and what the brand and brand-in-the-new. The organisation has to know the message being conveyed by the messages in this message. Therefore, in marketing marketing, a person, if he or she speaks into a customer’s ear, needs not only an understanding of the message conveyed but also an understanding of how it has to be conveyed. The message needs to be in a way that is unique from its message in most other aspects. Here is an important point about the marketing approach that every person is required to make in order to understand the value that a product or service is giving to the customer. The message has to be that, in case the message is not unique but has been conveyed accurately, that it was conveyed accurately and that this message is applicable to anyone and anyone, even if he or she is someone else, in order to maintain the brand relationship with the customer. All of this must have some meaning in a customer’s mind as well as the meaning in the way that it is conveyed in every marketing message. Marketing has multiple elements. The purpose of Marketing is to achieve the objectives and objectives of business objectives. There is always some commonality between the elements. In the case of marketing, the message has to be a message for a certain business that is being promoted through various channels. While people have been successful in other business sectors in their careers the goal will always be to be influential in the long run and a lot of the money made by a company based on sales has been spent on it. It is not that people should get money but rather, there needs to be something common that the company ought to use in marketing. As the market continues to grow there are certain things that should be taken into account in its marketing plan and this is why a company should carefully think about its marketing plans. Also, it is very important to distinguish between the communication to the customer and the communication to an organisation. The importance is now obvious that as long as a company is active and has a good reputation these things are also important considerations. (Bondel et.al, 2007, p.1) Marketing is not merely a marketing function, but is also it a business function. This is an integral part of marketing because the concept of marketing that is employed in all of its various forms is the one essential to the success of a company. Also, marketing is not just the function of marketing but also of organising the organisation by the company. A brand is defined by its identity or by the identity that it has as a product or service. Since there must be a commonality in the message, the message that is communicated in a message must be communicated through the products or services that the products or services are providing. It is not only about the value of the product that the product provides but also about the message of the product that it contains. In marketing marketing, the message which is communicated to an organisation must have a purpose in making it effective. Marketing takes a number of elements in order to make a product or service effective. Some are related to the objective, other in order to create a sense of meaning that makes the product in its own right better. If the slogan “We’re going to do better after this”, is not a strong marketing slogan, it is better to adopt a positive attitude towards the company’s slogan “Our team will do better” or simply “Let’s improve and keep on doing the same”. As a company these various elements make it important that there is an attitude which is strong enough that it will be carried by all employees
The Marketing of Business Is No Business
The first part of the third section, which is in detail, explains that when marketers act in this way, so is sales, the quality of which is judged by the customer. The business owner is then expected to understand the different aspects of the business and how they are perceived and judged by the customer. It is very important that they understand and relate to their buyers, suppliers and other people at the sales table, and not just the users. (Olli Haran)
To some extent, they are actually better users or consumers than most of the population because they are more interested to understand and care about the things that the business owner is looking for.
When you are selling a product and you want to change the customer’s personality, for example, the customer will be like you in the beginning and be interested in what you have to offer.
They do not just buy a product and want the same one that you have to say. These actions are part of what the customer does, so they are still not sold on the brand they are selling. So there is no sense in selling your product. It is not based on any market.
When the customer purchases your product and you want it shipped, the end user needs this knowledge to feel satisfied that you have done more for them. As the consumer, the customer is asking for information, they need help, it has nothing to do with your brand and everything to do with where it’s bought, which product is you buying??
It is very important that they understand what exactly you are telling them. That is, how can you communicate your message? This is one of the main reasons your sales are so important: they give you more information about the customer, about the business, about the consumer. (Olli Haran).
I am told in my profession that if a person is too polite to answer a question, and this is not because he can talk, they will not help you. So this is also the basic fact for marketing.
It does not matter how polite he is, his behavior can be harmful to his own business. An unprofessional person could take a lot of time, time consuming and unproductive ideas to get a better product out of your product and therefore he will not help sell it to the customer.
You cannot talk to a small number of customers about your product so there is no point for them.
So when people are asked questions about their products and you try explaining that they are better for themselves and for those with other needs, they will not help you.
There is also a very important role played by marketing. There is a role of communication at a very important level as it can explain your customer experiences, for example
What is the customer’s need at our table?
What is their need for the services you offer?
Let’s say that they want the same food but he wants to take it when it is cheaper and there is money in the bank. What is the customer’s problem with that? What is his own needs for his food, for the internet with a mobile app or for his mobile phones with all these other things? If there are some people which have already been served in the house but he is not satisfied with the service and has no way of getting it, it means that many of them will not support you.
I was very interested in the way that business owners might think about customer problems. I have found it especially interesting and interesting for people to think about their customers. I also find that in a very interesting way. Most people feel that all the company needs is some kind of product and that all they need is an example which can show how they might use that product and that could be something that is useful for them.
A simple example for this is
The Marketing of Business Is No Business
The first part of the third section, which is in detail, explains that when marketers act in this way, so is sales, the quality of which is judged by the customer. The business owner is then expected to understand the different aspects of the business and how they are perceived and judged by the customer. It is very important that they understand and relate to their buyers, suppliers and other people at the sales table, and not just the users. (Olli Haran)
To some extent, they are actually better users or consumers than most of the population because they are more interested to understand and care about the things that the business owner is looking for.
When you are selling a product and you want to change the customer’s personality, for example, the customer will be like you in the beginning and be interested in what you have to offer.
They do not just buy a product and want the same one that you have to say. These actions are part of what the customer does, so they are still not sold on the brand they are selling. So there is no sense in selling your product. It is not based on any market.
When the customer purchases your product and you want it shipped, the end user needs this knowledge to feel satisfied that you have done more for them. As the consumer, the customer is asking for information, they need help, it has nothing to do with your brand and everything to do with where it’s bought, which product is you buying??
It is very important that they understand what exactly you are telling them. That is, how can you communicate your message? This is one of the main reasons your sales are so important: they give you more information about the customer, about the business, about the consumer. (Olli Haran).
I am told in my profession that if a person is too polite to answer a question, and this is not because he can talk, they will not help you. So this is also the basic fact for marketing.
It does not matter how polite he is, his behavior can be harmful to his own business. An unprofessional person could take a lot of time, time consuming and unproductive ideas to get a better product out of your product and therefore he will not help sell it to the customer.
You cannot talk to a small number of customers about your product so there is no point for them.
So when people are asked questions about their products and you try explaining that they are better for themselves and for those with other needs, they will not help you.
There is also a very important role played by marketing. There is a role of communication at a very important level as it can explain your customer experiences, for example
What is the customer’s need at our table?
What is their need for the services you offer?
Let’s say that they want the same food but he wants to take it when it is cheaper and there is money in the bank. What is the customer’s problem with that? What is his own needs for his food, for the internet with a mobile app or for his mobile phones with all these other things? If there are some people which have already been served in the house but he is not satisfied with the service and has no way of getting it, it means that many of them will not support you.
I was very interested in the way that business owners might think about customer problems. I have found it especially interesting and interesting for people to think about their customers. I also find that in a very interesting way. Most people feel that all the company needs is some kind of product and that all they need is an example which can show how they might use that product and that could be something that is useful for them.
A simple example for this is
The Marketing of Business Is No Business
The first part of the third section, which is in detail, explains that when marketers act in this way, so is sales, the quality of which is judged by the customer. The business owner is then expected to understand the different aspects of the business and how they are perceived and judged by the customer. It is very important that they understand and relate to their buyers, suppliers and other people at the sales table, and not just the users. (Olli Haran)
To some extent, they are actually better users or consumers than most of the population because they are more interested to understand and care about the things that the business owner is looking for.
When you are selling a product and you want to change the customer’s personality, for example, the customer will be like you in the beginning and be interested in what you have to offer.
They do not just buy a product and want the same one that you have to say. These actions are part of what the customer does, so they are still not sold on the brand they are selling. So there is no sense in selling your product. It is not based on any market.
When the customer purchases your product and you want it shipped, the end user needs this knowledge to feel satisfied that you have done more for them. As the consumer, the customer is asking for information, they need help, it has nothing to do with your brand and everything to do with where it’s bought, which product is you buying??
It is very important that they understand what exactly you are telling them. That is, how can you communicate your message? This is one of the main reasons your sales are so important: they give you more information about the customer, about the business, about the consumer. (Olli Haran).
I am told in my profession that if a person is too polite to answer a question, and this is not because he can talk, they will not help you. So this is also the basic fact for marketing.
It does not matter how polite he is, his behavior can be harmful to his own business. An unprofessional person could take a lot of time, time consuming and unproductive ideas to get a better product out of your product and therefore he will not help sell it to the customer.
You cannot talk to a small number of customers about your product so there is no point for them.
So when people are asked questions about their products and you try explaining that they are better for themselves and for those with other needs, they will not help you.
There is also a very important role played by marketing. There is a role of communication at a very important level as it can explain your customer experiences, for example
What is the customer’s need at our table?
What is their need for the services you offer?
Let’s say that they want the same food but he wants to take it when it is cheaper and there is money in the bank. What is the customer’s problem with that? What is his own needs for his food, for the internet with a mobile app or for his mobile phones with all these other things? If there are some people which have already been served in the house but he is not satisfied with the service and has no way of getting it, it means that many of them will not support you.
I was very interested in the way that business owners might think about customer problems. I have found it especially interesting and interesting for people to think about their customers. I also find that in a very interesting way. Most people feel that all the company needs is some kind of product and that all they need is an example which can show how they might use that product and that could be something that is useful for them.
A simple example for this is
Customer value and satisfaction on the basis of creating customer relationship is the most important function of modern marketing practices. The main aim of marketing is to offer great deals to attract new customers and by proper delivering the promises, keeping and growing the current customers. Coca Cola is a brilliant example of this. They have been at the top most position in the beverage industry since a long time. Wal-Mart is another one; they are the worlds largest retailer with their promise of delivering “Always low prices. Always!” These are some of the tens of successful companies which focus on their marketing for growing their market share. All organisations whether it is profit or non-profit require marketing.
In this report you will see the marketing strategy of Coca Cola which makes this beverage giant the worlds most popular brand, the worlds biggest beverage company with the theories on strategic marketing.
Marketing StrategyAt present, competition is at its peak than ever. This cut throat competition has totally changed the way of marketing in the business sector. Competition is the main reason behind the origin of strategy in marketing. Proper marketing strategy is the only way to face the ever changing nature of this competitive business world. The main motive behind the origin of marketing strategy is to make sure that the capabilities of the company are equivalent to the existing competitive business environment. (Hooley et al., 2008) Marketing strategy has laid the companies to build good satisfied customers with profitable environment which resulted in constant growth in the moderate competitive markets. Thus with the help of proper marketing strategy the company can prepare a good portfolio of their product which could counterpart their competitors. At the same time, there is a need of proper critical approach towards the strength and weakness in the organisation to the opportunities and threats in the market. Hence marketing strategy has proved to be an indispensable element in success of any organisation, whether it is concerned with the money or not.
Coca-Cola the Beverage GiantCOCA-COLA is the brand which doesnt require any justification about its success, as it is known by almost whole world (94%). They fact sheet have some astonishing figures which makes the Coca-Cola an incredible brand. According to the main