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Coca Cola has successfully marketed their brand and products not only domestically but globally through the implementation of a winning international marketing strategy.

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Introduction

International Business The marketing mix of a given company is a set of tools the firm uses to pursue its marketing objectives1. They are used to elicit desired responses from their target market. In the case of multi national companies when entering new markets they have to decide how they will adapt their marketing strategy and use their marketing mix. There are two different types of international marketing mix strategies. A standardized marketing mix worldwide, which means maintaining the original products, advertising and distribution channels, which promise, lower costs. At the other extreme is an adapted marketed mix, where the producer adjusts the marketing mix elements to each target market The marketing strategy of a given firm 'indicates the specific target markets of competitive advantages that are to be developed and exploited' (Dibb et al, 2001)2. In order to formulate a successful entry strategy for china, the company must evaluate marketing opportunities and conduct environmental scanning to assess its external influences. Coca Cola has successfully marketed their brand and products not only domestically but globally through the implementation of a winning international marketing strategy. ...read more.

Middle

International Organisational Strategy-Prospector International Marketing strategy-Expansion CC operates within a broad product market domain that undergoes periodic redefinition. The soft drinks market in many countries is now mature and Coca Cola need to find ways to further increase sales in existing markets. 1. Market Penetration- Aims -increase market share; Coca Cola are trying to encourage current customers to use the product more often; they claim that everyone needs 64 fl.oz daily, and that they therefore have potential to increase consumption. -make product/service improvements (e.g. packaging) Coca Cola reacts rapidly to early signs of opportunity and endeavours to respond with pioneer products (see product offerings across), technology and packaging (e.g. contour bottle) and distribution (e.g. Franchise system). It is hoped that these responses will lead to new areas of competitive actions 2. Product Development Aims - In terms of marketing, Coca Cola continuously seeks to develop product line extensions or new product offerings. E.g. Dr Pepper, Diet Coke, Fanta, Five Alive, Kia-ora, Malvern Water, even Coca Cola Clothing! ...read more.

Conclusion

A standardised and undifferentiated strategy is more desirable if the ultimate aim is a consistent and strong product image across geographic markets. In the case of Coca Cola, they have achieved the most recognisable brand worldwide; the brand and reputation of the company is now being used to increase their differential competitive advantage in foreign markets. Reduced costs by amalgamating production activities through economies of scale, access to finance, labour and raw materials give a company a considerable cost advantage over competitors, making a standardised strategy again advisable. Therefore, to some extent Coca Cola have adopted an expansionist, and undifferentiated marketing strategy; production methods, technology, packaging and the brand are standardised worldwide. Coca Cola do, however, make slight local adaptations to meet the customers differing needs in various regions. The secret Coca Cola concentrate is diluted by varying amounts according to customer tastes worldwide. The advertising used to promote the brand and image is also adapted by changing the language and content, as well as the promotional medium depending on the country in question. Despite these necessary variations, Coca Cola successfully maintain a consistent international brand image that has proved successful for many years. ...read more.

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