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I agree with the Greater personalization and customamization of the products. For the below reasons and some of the cons and pros associayted with it and how to overcome them. There comes a time when customized products and personalized services were catered exclusively for the discerning and well heeled. Coca-cola stands as a testament to personalized luxury. There has been an up-shift by certain manufacturers trying to offer tailored ranges and services to a wider audience Simply put, clients are demanding more and don’t share the same sense of brand loyalty as previous generations. Marketing strategists believe that focus must be on generating a community tied to customer satisfaction. With ever increased competition, brands must show genuine benefit to hold the client’s attention as well as affection. Customization and Personalization discussed: “ customization” is the use of flexible computer-aided manufacturing systems to produce custom output. These systems combine the low unit cost of mass production processes with the flexibility of individual customization. “Mass personalization” on the other hand, …show more content…
In theory, they are sophisticated and unafraid to express their taste as trendsetters and style mavens. They can also be the hardest segment to market to effectively because they are spoiled for choice. “Mass customization” and “mass personalization” (or “build-to-order marketing” and “one-to-one marketing”) in delivering either products or services when properly implemented, bring about across-the-board improvements in all dimensions of a business. This includes, price, responsiveness, quality, and a positive experience. Competitiveness and operational effectiveness of a company also
These consumer behavior has evolved in order to request more interaction from the companies and brands in order to provide a full image about what motives the company to provide an excellent product or service. The comparison made by Kotler (2010) has emerge in a way to understand how the companies have to present themselves to the consumers.
Flexibility is important of firms an operation that enables it to react to their customers quickly and efficiently. Some companies use they two types of flexibility: the customization or the volume flexibility. Customization is usually the ability to satisfy the unique needs of each customer by changing products or services design, with different features, or making them look unique. Primark’s uses both operations. To satisfy their customers need. While volume flexibility is the ability to quicken the rate of their productions to handle large variations in demand.it is usually important for operations. Both companies use both operations.
Burberry target audience is designed for both sexes however it is dominated by the female target audience who have a high disposable income. The brand has their own childrenswear range which can appeal to parents but are likely to be people from wealthy backgrounds. Burberry is famous for appealing to celebrities who purchase coats and dresses which have a high end appeal. Burberry focuses more on customer value in order to attract and retain costumers. With the aim to achieve this by producing a marketing concept by meeting and exceeding costumer needs then their rivals.
Higher level needs influence future human behavior much greater than lower level needs. It is the brands that can fulfill human needs on the higher levels of the hierarchy that become irreplaceable in the mind of the consumer.
product uniqueness. There are more and more shoppers who want to design their own clothes, shoes, and other apparel products. It is possible that customization will create a deeper connection between a shopper and the product he or she creates.
Companies are trying to become more market driven and their major efforts go in retaining customers. Customer retention has become much more important than customer attraction because attracting new customer costs five times more than pleasing an existing one. (Kotler, Marketing Management Millenium Edition, 2002).
2, mass personalization is different from personalization which can be dated back to craft production. Contrast to the products at that time with an excessively high price tag, mass personalization provides personalized products with affordable fulfillment cost for both customers and producers. Mass personalization brings more values to both customers and producers. For customers, they can be provided with products with less lead time and high quality. Additionally, customers feel they are treated distinctively by the firm. For producers, they can gain differentiation by providing personalized products[19]. Though craft production can enable personalization to the extent of market of one, the cost of production is relatively high. In the paradigm of mass production, there is no involvement of customers because products are standardized by designers. For mass customization, it exhibits a process of customers’ making choices passively from standard offerings, where customers are led by designers with limited participation. Based on these choices, firms can then gear up supply chains and production process to fulfill the orders with little or even no customer participation. However, in the paradigm of mass personalization, customers are intensively integrated into the production process. It is obvious that active customer participation is a crucial factor to satisfy user experience related requirements, since experience is influenced by a chain of human cognitive activities. Thus, active customer participation is an important driving force for the whole production process, which affects the final product offering directly in personalization.
Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.
Coca-Cola has been around for generations with the same iconic taste, logo and symbolism. Its brand has represented family and the memories of good times, celebrations and comfort of being with those we love. Unfortunately, the company has not made good marketing decisions in the recent past and has lost relevancy. The purpose of this essay is to assess the conditions that created Coca-Colas marketing problems, evaluate the future of healthy beverages and non-carb drink brand extensions, and provide recommendations to the management.
Learning from experience Coca-Cola has had some fierce competition over the years but nothing in the form of an entire health market shift like now. As well as mounting political persecution of its products like they are facing today. They must rely on past experiences to get through but likely will need to start studying the new trends to stay relevant.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
Coca-Cola has been a complex part of world culture for a very long time. The product's image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart. The Coca-Cola image is displayed on T-shirts, hats, and collectible memorabilia. This extremely recognizable branding is one of Coca-Cola's greatest strengths. "Enjoyed more than 685 million times a day around the world Coca-Cola stands as a simple, yet powerful symbol of quality and enjoyment" (Allen, 1995).
As a result of the above they were giving less importance to customer satisfaction and customer relationship building. This form of strategy conformed to short term business motives. In a globalised and highly competitive world, modern marketing is about concentrating ...
...change production planning and control, and supply and payment process, when firms provide customized products.
Heterogeneity : aggregability makes it difficult to control phases and one single mistake will affect the final product. It’s not just the product being customized but any given trip.