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Coca Cola and Lynx - marketing.

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Introduction

Assignment 2 Marketing Introduction We have been given a work placement with a local marketing firm who have accounts with a number of clients. Each client is engaged at various stages in the product development process. We are to analyse two products of our choice then propose and suggest appropriate segmentation criteria, then for one of those products devise a suitable marketing mix. We are also to describe how aspects of buyer behaviour can impact on the consumers in the target markets. Task 1 The two products we have chosen are, Coca Cola and Lynx male body deodorant, for these two products we will recommend appropriate segmentation criteria. The purpose for segmenting a market is to allow the marketing or sales teams to focus on the consumer groups that are most likely to purchase the companies product. If carried out properly, this will help to insure the highest return for the marketing and sales expenditures. Depending on whether an organisation is selling or offering to individual consumers or a business, there are definite differences in what an organisation will consider when defining market segments. Firms can break the market they are operating within, in to the following: * Geographically - by country, region or area * Demographically - according to the age structure of the population, social class and income levels * Behaviouristically - according to the nature of the purchase, the use the product is put to, the loyalty to the brand etc The above is what we will be analysing Coca-Cola's and Lynx's segmentation criteria with as we feel that it covers all that is necessary to carry this task out. Market segmentation is very important because it can gain the organisation a competitive edge especially today where markets have a wide variety of products needs and preferences. Due to this research Marketers can respond a lot more effectively to increases from competition by defining customer's needs. ...read more.

Middle

This highlights the point that we made earlier about different occasions to inject their product into the market, such as certain festivities like Christmas time in England or Thanksgiving in the USA. These occasions would generate excellent revenue for a Coca-cola, as for Lynx it is often given as a gift to male gender at Christmas time. We must also look at Usage rate of the product and we can divide these up in to non-user, ex-user, potential user, first time user, regular user, light and heavy users. With a product such as Coca-cola and Lynx, they are pretty much an everyday product anyway and it's only really a matter of consumer's personal tastes and preferences that will alter a variable such as this one. Loyalty status is very important with products such as Coca-cola and lynx as they will be looking to keep their consumers once they have gained them. This is because they are both in very competitive markets. As a result of this consumers just repeat purchase purely as they enjoy what both of the products have to offer and they see themselves as the benchmark of their respective industries. Marketing factor is a very important variable as this concerns the price of the product, advertising and sales promotion. The price is a very obvious variable in the soft drink industry because if a leading competitor (Pepsi) can offer their product at a much cheaper rate Coca-cola will lose their customers. The same goes for lynx, if there were a similar scenario they too would lose out to a leading competitor such as Rightguard. Advertising is also a very important element to being successful because it wants to create a positive image and correct awareness of the product that is seen as being suitable for their product. From the analysis above we have discovered that Lynx has to have a more precise target group for marketing compared to Coca-cola. ...read more.

Conclusion

These leaders can affect others by; 1. Influencing a change in image and attitude - for example, David Beckham is seen as a role model and an idol for most youngsters. Brylcream hair products recognised this and used David Beckham as their promotional tool to attract young males into using their products. 2. Expose other individuals to new behaviour - once again, high profile sportspersons are used to attract others into buying items of sports wear (High profile sportspersons are great marketing tools). 3. Create pressure to conform - this is most apparent among the younger generation as having yesterday's fashions is seen as un-cool and in an ever materialistic world, nobody wants to be un-cool. The recognised leaders that can alter a persons buying behaviour tend to be friends and family and manage to perform many roles: 1. Information gather - first to hear what's new and spreads the word and therefore generating knowledge of the product. 2. Influencer - can influence others into thinking about a product, this is usually carried out through word of mouth. 3. Decision maker - can even influence the decisions made by others. This would be peer groups such as friends and family. 4. Purchaser - can be the purchaser and take advantage of the product that is offered to them. 5. Consumer - can be the consumer and make full use of the product offered to them. In conclusion persons buying behaviour can be affected by many factors such as the one mentioned in the above. A huge contributory factor to a persons buying behaviour today is mainly due to society becoming ever more materialistic and tending to judge a person not for their inner-self but for what they own. A lot of people can make pre-judgements of a person and how successful they are by just looking at what they are wearing. So with this in mind nobody wants to give a bad first impression. Due to this materialism people are willing to spend more in order to achieve these images that they wish to portray. Gareth Craven & Matt Evans Marketing 2003 1 ...read more.

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