Marketing mix of coca cola company. Marketing Success Factors of Coca 2022-10-20
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The marketing mix is a set of tools that a company uses to promote its product or service and to reach its target market. The four main elements of the marketing mix are product, price, promotion, and place. In this essay, we will examine the marketing mix of the Coca-Cola Company, one of the world's most iconic and recognizable brands.
Product:
Coca-Cola is a carbonated soft drink that is sold in over 200 countries around the world. It is made from a secret recipe that includes caramel color, high fructose corn syrup, and natural flavors. The company also offers a range of other products, including sparkling waters, sports drinks, and juices.
Price:
The price of Coca-Cola varies depending on the market in which it is sold. In developed countries, the price is typically higher due to higher production and distribution costs. In developing countries, the price may be lower due to lower costs and a larger market for the product. Coca-Cola uses a pricing strategy known as "price skimming," which involves setting a high initial price for a new product and gradually decreasing the price over time as the product becomes more widely available and competition increases.
Promotion:
Coca-Cola has a long history of using innovative and creative marketing campaigns to promote its products. Some of the company's most memorable campaigns have included the "I'd Like to Buy the World a Coke" campaign in the 1970s, and the "Coke Is It!" campaign in the 1980s. More recently, the company has used social media, celebrity endorsements, and sponsorships of major events such as the Olympic Games to promote its products.
Place:
Coca-Cola products are available in a wide range of places, including supermarkets, convenience stores, restaurants, and vending machines. The company has a strong distribution network that allows it to reach consumers in even the most remote areas of the world. In addition, Coca-Cola has a presence in over 200 countries, which helps it to reach a global audience.
In conclusion, the marketing mix of the Coca-Cola Company is centered around its iconic product, a pricing strategy that takes into account market conditions, innovative and memorable promotional campaigns, and a strong distribution network that allows the company to reach consumers in a wide range of places. These elements have helped Coca-Cola to become one of the world's most successful and recognizable brands.
COMMUNICATIONS AND THE MARKETING Mix OF THE COCA
If this interests you, you should learn how to create impactful and targeted digital marketing campaigns by learning the up and coming field that is taking the world by storm. They do this by associating Coca Cola with life style and behaviour and mainly targeting value based advertising. For example, stable competitors for Fanta are PEPSI, Revive, Oasis and Mirinda. This problem has already been taken care of with convenient transport routes to commercial areas and transport already being arranged. It has been said the firm prefer to spend more on its promotional campaigns than its manufacturing costs. The Coca-Cola company is an international global business, and has more than just one product within the soft-drinks market, other products include Fanta and Sprite all owned by the Coca-Cola Company.
Marketing Mix Of Coca Cola Company Free Essay Example
The Times 100, n. Marketing mix focuses on specific 4Ps variables of product, price, place, and promotion. Millennials and th It enjoys strong popularity among both male and female consumers. Macroeconomic Factors Affecting Apple Company 2241 Words 9 Pages After these companies go about developing products, which may be product modification or it may be a completely new product. SWOT analysis is a technique much used in much general management as well as marketing scenarios. Coke sells more than 500 brands of beverages. However, there are some brands, which target specific consumers.
British Bottled Water, 2009 this is an opportunity because it opens the company to new audiences increasing their brand image. Marketing Mix The marketing mix is one of the most famous marketing terms. Place in the Marketing Mix of Diet Coke : Diet Coke is a product of Coca-Cola Company but has created a niche market for its own. Doctoral dissertation, Dublin Business School. In the French region of Brittany, Breizh Cola is available In India, Coca-Cola ranked third behind the leader, Pepsi-Cola, and local drink Thums Up.
There is also an advantage for suppliers, it allows them to Coca Cola understands the importance of its brand image, through the overly use of promotional campaigns and various attempts at direct, and personal selling. The Coca-Cola Company is headquarter Coca-Cola has sold more than one billion servings every day. Brassington, Petttitt, 2007 Marketing Mix The marketing mix strategy is a marketing tool used by many businesses, it helps managers develop their product to suit their customer needs, the tool helps the business set pricing strategies and promotional strategies which are variable, meaning that the company can make changes to their mix to match the external influences such as the economic downturn, the marketing mix is controllable itself, it allows Coca-Cola to adapt more efficiently to environmental influences of the market. The ten marketing success factors of Coca-Cola Company are market research, market analysis, selecting target market, SWOT analysis, marketing mix, positioning, factors that influencing customer choice, innovation, brand development strategy and implementing, monitoring, controlling. If Coca-Cola Company do not know the culture of a country, Coca-Cola Company is hard to defeat the competitor at that country. Ultimately with the growing technology, the company has shifted its marketing strategy more on online platforms through its social media accounts that make it easier to connect with fans and customers. Furthermore the refining of raw materials and industrial processes used to produce plastics associated materials generate toxic chemicals posing a risk to worker safety and public health.
It is produced by The Coca-Cola Company of Atlanta, Georgia. Conclusion With that last of the 4Ps strategy, our marketing mix comes to an end. For these reasons the company may experience negative publicity which would be a disadvantage. Since soft drinks are a consumable good, the augmented level is very limited. Direct Selling - they supply their products in shops by using their own transports.
Sales might be slow at first, but profit will slowly increase from negative to positive. Marketing Strategies of Coke: An Overview. Currently, the Coca-Cola company spends more than four billion on marketing to ensures that it achieves the maximum profit and sales. Company can use their income gained from products in the maturity stage to produce new …show more content… It may be difficult for company to make money at first, because most consumers are afraid to try out new products. Their place strategy is highlighted by their extensive distribution network. For this reason pricing policies need to be designed with consumers and external influences in mind, in order to effectively achieve a stable balance between sales and covering the production costs.
In this type of selling company have more profit margin. Successful implementation depends on how well the business blends its people, organizational structure and company culture into a cohesive program that supports the marketing plan. Finally, we recommended Coca-Cola Company solve their environmental impact by using recycle plastic in their bottle. The marketing mix is the tactical or operational part of a marketing plan. It comes in a signature orange flavour.
The marketing mix is described as a collection of marketing techniques that a company uses to achieve its marketing objectives in a target market. Since its re-entry in 1993, the Company has built an unrivaled beverage portfolio, including Coca-Cola, Coca-Cola Zero, Diet Coke, Thums Up, Fanta, Sprite, amongst many others that we shall discuss in-depth now, in its marketing mix. What are the characteristics of product mix? Additionally, other brands include sprite, which is a leno flavoured soft drink, coca-cola zero sugar, Minute maid, Powerade Zero, and Simply orange, among other significant products Menaria, 2015. As we know that consume too much of the carbonated soft drink will threatening our kidney, increase diabetes risk, increase obesity risk and others diseases. Monitoring and controlling allows the business to check for variance in the budget and actual.
