BTEC National Business

Ram Bhojani Unit 3: Creative product promotion


Introduction        

In this assignment I will be investigating how marketing helps a business using an organization that has national promotional campaign. I will be using Coca Cola enterprises Ltd for my investigation.

Aims and Objectives

All Businesses exist to either produce goods (such as cars furniture and textiles) or to provide a service (drive you to your destination, i.e. Taxi). In some cases a business will provide both. In order to survive a business needs to provide a product or service that its customers are willing to pay for. Aims ---- The aim or aims of a business is a target, which it wants to achieve: Some businesses such as those in the private sector exist to make a profit their aim to succeed is to ensure that there are costs, which are not greater than their income. The aim of some businesses is to expand, to become national or international companies. Some businesses aim is to sell as much of their service or product as they possibly can, or aim to beat sales of rival companies by either lowering their prices or providing better quality of services or goods. 

Coca Cola enterprises have come a long way since establishment back in the 20th century. They were once a local store selling soft drinks with an asset value of about $250, now 100’s of years later they are an international company worth over $97bn. They are one of the most recognized companies in the world and about 9/10 people can identify them by their red and white colours in the United Kingdom. Today they have some very high aims and wish to meet them by the end of the year. The aims they have set out for this year are as follows.

  • Deliver shareholder value
  • Brand Innovation and demand creation
  • Operational effectiveness and continuous improvement
  • Investment in our people, the work force
  • Excellent Customer management

Achievement of Aims and Objectives

All businesses have a purpose this may be more than one but this is expressed in a mission statement this may be “to ensure we provide quality as well as value” this tells us what they are aiming to do. Coca Cola Enterprises Ltd have a very unique mission statement, “Refreshing everyone everyday” The objectives set need to be measured to see how well the company is doing in making the objectives a reality.  These objectives should be evaluated by using SMART

Specific

Measurable

Achievable

Realistic

Time related

Specific

Specific is an objective that is exact it is not an approximation, for example to make more profit this year would not be specific whereas make a 5% increase in profits is specific.

Measurable

You know when you have met your aims or objectives, to be able to measure it is necessary to be specific for example we can say after 6 months there is a rise of 2.5% so in a year it is possible to have a 5% increase in profits.

Achievable

Achievable just means that it is possible to complete the aims in the time and with the resources available, so for a new member of the team to get an increase in profits within a week is not achievable.

Realistic

Realistic is similar to achievable it purely means that it is possible to meet the aims and it is not just a fantasy so to make a 150% increase in profits in a year when in 6 months there is a loss of 45% is not realistic.

Time related

Time related is to set a time for when the aims have to be completed, so to merely make more profit is not good enough you need a time so to make a profit in a month fits this category.

Coca Cola Enterprises Ltd has many strategies to meet their aims and objectives. They wish and aim high, their strategies are as follows.

  • Being the best we can
  • Pride in what we do and we do it
  • Passion for action
  • Honest, fair and determination to win

They aim to meet all their objectives by using these few simple steps to success.  These seem to be very effective as Coca Cola Enterprises is a very successful business.

Marketing

Promotion

There are four very important elements in marketing, which may also be known as marketing tactics. The key elements are Price, Place, Product and Promotion. Sales promotion is the use of "short-term incentives to encourage the purchase or sale of a product or service."  The key term is "short-term," as most sales promotions have a finite time frame when the terms of the offer are in force.  Sales promotions aimed at the consumer are often communicated at the point-of-sale (e.g. via in-store displays or on-package mentions), conveying a "Buy me Now!" message.  Other sales promotion tools include premiums, discounts, coupons, cash rebates, "free" goods, specialty advertising, and demonstrations.

Join now!

Although this is also a non-personal form of communication, many sales promotion themes are intended to spark personal interest in the product or service being promoted.

Sales promotions are not directed solely toward the end user.  Often, there is an underlying promotion directed toward company employees and trade factors (distribution channel members), using the same promotion theme.  For example, a sales promotion offering consumers a trip to London may offer the same trip to the top-performing salesperson in the company, or the retail outlet selling the most merchandise during the promotion's duration

Promotion is the key to a good response on a ...

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