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Coca-Cola Marketing

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Introduction

Along with all of the new terminology, new techniques, and new twists the Internet has brought us, it has also opened opportunities for misguided notions about the definition of marketing. While the above definitions describe different facets or definitions of related terms, they do not convey the much broader process that is truly marketing. By taking a look at some dictionary and trade definitions of marketing we can get a better feel for what marketing is truly about: * American Marketing Association Definition The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Marketing plays an important part in ensuring the products consumers want are readily available. The Chartered Institute of Marketing's definition provides a clear picture of the activities involved. We can describe marketing like: ' the management process responsible for identifying, anticipating and satisfying the customer requirements profitability.' It is a management activity because it requires continuous information gathering, analysis and evaluation in order to make decisions. The information collected should help Coca-Cola Company identify customer requirements. But it is not sufficient to find out what customers are thinking and doing now; there is a need to consider what might happen in the future. Future consumers tastes and preferences can even create them. Once consumer needs have been identified Coca-Cola Company still has to satisfy then successfully. Designing the right product to satisfy those needs may not prove easy. It is essential to do all this and make a profit to invest in new products and advertising campaigns, and provide a reward for investors. The marketing concept directs organisations to focus on customers. A company that follows the marketing concept puts the customer at the centre of all its business decision making and planning and not just the marketing team's decision. An organisation with approach said to be marketing orientated. ...read more.

Middle

With Coca Cola's ability to sell their product all over the world, customers will continue to buy what they know and what they like...Coca Cola products. Weaknesses- Coca Cola is a very successful company, with limited weaknesses. However they do have a variety of weaknesses that need to be addressed if they want to rise to the next level. Word of mouth is probably a strength and weakness of every company. While many people have good things to say, there are many individuals who are against Coca Cola as a company, and the products in which they produce. Word of mouth unfortunately is something that is very hard to control. While people will have their opinions, you have to try to sway their negative views. If bad comments and views are put out to people who have yet to try Coca Cola products, then that could produce a lost customer which shows why word of mouth is a weakness. Another aspect that could be viewed as a weakness is the lack of popularity of many of Coca Cola's drinks. Many drinks that they produce are extremely popular such as Coke and Sprite but this company has approximately 400 different drink types. Most are unknown and rarely seen for available purchase. These drinks do not probably taste bad, but are rather a result of low profile or non existent advertising. This is a weakness that needs to be looked at when analyzing their company. Another weakness that has been greatly publicized is the health issues that surround some of their products. It is known that a popular product like coke is not very beneficial to your body and your health. With today's constant shift to health products, some products could possibly loose customers. This new focus on weight and health could be a problem for the product that are labeled detrimental to you health. Opportunities- Coca Cola has a few opportunities in its business. ...read more.

Conclusion

Decline Stage In the Decline Stage, the market is shrinking, reducing the overall amount of profit that can be shared amongst the remaining competitors. At this stage, great care has to be taken to manage the product carefully. It may be possible to take out some production cost, to transfer production to a cheaper facility, sell the product into other, cheaper markets. Care should be taken to control the amount of stocks of the product. Ultimately, depending on whether the product remains profitable, a company may decide to end the product. Coca-Cola is currently going through the maturity stage. This maturity stage lasts longer than all other stages. Management has to pay special attention to products during this stage of the product life-cycle. 4 P's - Product, Price, Place, Promotion: The four P's are the parameters that marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. * Products - The Coca-Cola Company offers more than 450 brands that comprise over 2,800 beverage products in more than 200 countries. From diet and regular sparkling beverages to still beverages such as 100 percent fruit juices and fruit drinks, waters, sports and energy drinks, teas and coffees, and milk-and soy-based beverages, our variety spans the globe. * Price - The price they charge for all their products is a reasonable amount that many people can afford. * Place - We can find Coca Cola products in every corner shop and ever big store like Stainsbury's, Tesco, coffee shops etc. worldwide. * Promotion - Coca cola spend around 20% of their profit to make sure they have attractive advert for their customers. Big Company like Coca Cola doesn't promote itself in big campaigns like: o Christmas with Coca Cola o Lunching major summer promotion where they transformed about 120 cans into a combination global positioning satellite receiver and cell phone. ...read more.

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