Free «Marketing Strategy for Coca Cola Company» Essay
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The coca cola company is well honored in both history and tradition and its values have gained much respect globally. This is a company that works together as a global family to meet the needs of several varieties and choices of beverages that people are in need of in their day to day life. To ensure that this is put into effect, one of the aspects that need to be looked at is marketing. The Coca-Cola Company has at all times taken been dedicated to responsibility of marketing, across the world, at all promotion media and at all of it beverages. Coca cola has a marketing policy that covers all it’s beverages; For instance, marketing is not done directly to children who are the age 12 years (Christina, 2010).Under the marketing strategy of coca cola, we will look at the following aspects in business, marketing audit, marketing plan and marketing communication.
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This is a section of the coca cola marketing that will involve the SWOT analysis of this company.
First, coca cola is the market leader in the industry of soft drinks and beverages. Second, the bottling system that is applied by this company allows this company to do business in a worldwide range and at the same time preserving a local approach. Since the company does not have the right to own the bottling rights; revenues are generated from the retailing of concentrate to the authorized bottlers. Third, the coca cola brand image is self selling; it is branded almost everywhere, on t-shirts, caps, and all the collectible memorabilia, in addition the coca cola brand is famous for sponsoring several vents such as UK football leagues, Olympics to name but a few. Finally, advertising of the coca cola brand on all types of media has created awareness such as during the Christmas or summer adverts and thus a strong brand image (Christina, 2010)..
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-Most of the Coca- cola brands has got sugar, this sis harmful to the health of the user. In addition to health issues, long term use of coca cola products leads to effects on the teeth.
- Coca Cola has experienced direct competition for competitors and new competitors promising in the market.
-Earlier unsuccessful marketing strategies such as the introduction of new brands namely coke zero and Desani.
-The recognition of different brands is the noteworthy factor that affects this company’s competitive position.
- The opportunities of bring new products in the market
-Despite the packaging changes in different brands, the public has not been affected by these new products
-Coca-Cola's brand name is recognized well in an approximate of 92% globally (Brand Fact Sheet 2008).
-At the moment, the threat of new possible competitors in the fizzy soft drink business is not particularly considerable
-The changing health-consciousness of customers in the market is likely to have a serious effect on sales and for this reason; losses may be incurred as a result of fluctuations in the market.
- Today’s consumers are capable of easily switching to other beverages with little cost or effects.
The marketing plan of coca cola
The objectives of the marketing plan this company entails a change in the brand image of coca cola towards a more accountable approach that is both international and local, informing the target audience on the issue concerning the feature and benefits of the new products and finally boosting the sales that are on the basis of the expected overtaking of fizzy drinks by drinks that are healthy to the human body by the year 2015.
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In the product description of this marketing plan, the new drink packaging is intended at the diet coke rank of the product of coca cola selection. This product is a bottle that is refillable and is likely to be appealing to sport people. This new drink is unique to the fact that is refillable. This is an added advantage especially in the beverage market that is highly competitive. Future upgrading to this product is necessary to develop the notion the company cares about gratifying its customers (Brand Fact Sheet 2008).
The pricing strategy is a fundamental marketing tool in business. Coca-Cola is a company that has a high market share, due to this, the competitor pressure has required customer understanding to price to be moderately high, sales amount is high, and the profit margin is rather low as the Coca-Cola drinks are consumer goods that are fast moving. This factor points to the penetration strategy. Penetration pricing entails developing of slightly lower than higher prices in the objective of acquiring a market share that is dominant. This can be achieved when the stipulation for a product is though to at a flexible position and in most cases, the demand is sensitive to price and thus new customers are likely to purchase more of these products due to the considerably low price. A high-quality penetration strategy may perhaps lead to the great amount of sales and the vast market shares (Robin, 1994).
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Below are the fields in marketing communication mix that need to be considered and their relative application in the case of marketing coca cola brands.
-Advertising- this is an area tat entails a paid mode of a presentation that is not personal and aims at the promotion of goods, ideas or services of coca cola brands.
-Sales promotion- these include the incentives that are shirt term based and are aimed at encouraging the buying or selling of precise product or service.
-Personal selling- this is a marketing strategy aspect that entails the concept of a personal based presentation by the company’s sales force for the aim of developing customer connection.
-Public relations- this strategy entails the art of creating god relationships within the policies of the coca cola company via obtaining publicity that is favorable, this is archived via establishing a strong corporate image plus heading off issues that are irrelevant and unhealthy to marketing and in business generally.
-Direct marketing - Direct communications are an aspect applied in business that entails dealing carefully with individual consumers that are targeted to get hold of an instant response and nurture a customer relationship that is lasting (Nicholas, 2007).
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The coca cola company is an enormous international trademark with massive brand awareness, the stress of advertising would be on media such on a TV promotion campaign which would be on the website of the company and spread on social video sites such as YouTube, Facebook or twitter. This is due to the fact that today’s customers are likely to respond to adverts that they have chosen to view in internet. Other ways of promoting this brand would be printing of t shirts, caps etc that are coca cola branded (Robin, 1994).
In conclusion, The above marketing strategy for Coca-Cola’s new brands and services will be effective in the year 2015, this marketing strategy on coca cola plan has acknowledged the carbonated drinks market as one that has perhaps peeked and is apt to be overtaken by drinks that are healthy to the human body as the market leader in the soft drinks business. One way that the coca coal company is increasing the awareness level of consumers is by offering different flavors such as ‘Fanta’. After a thorough research, it is evident that the current marketing strategy of Coca Cola is working for the company and the product is increasing its popularity day by day.