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Customer service quizlet
Marketing strategy chapter 1
Marketing strategy chapter 1
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Executive Summary
This project is about the Coca-Cola Company and one of the Coca-Cola Company’s products according to the marketing project. In this project I have studies the different type of marketing techniques that used by the company for identify the need, wants and demand of the product which supplies to the people and how company developing the customer oriented marketing strategies. I also study, how Coca-Cola Company have done segmentation, target marketing and positioning of their product.
I also study the strategies of social responsibilities by the company and how company promotes the product with in the targeted customers and common people by promoting the interest of their potential customers.
Introduction of the Company
History
Coco cola is one of the largest manufacturers, distributors and marketers of nonalcoholic beverages the coca-cola was invented Dr JOHN S. Pamberton in 1886.In now’s days Coca cola is most famous carbonated soft drink sold in markets and restaurants in over two hundred countries. It is the world’s most and recognizable sold commercial brand. In Pakistan coca-cola worked last 64 years. Coco cola is one of the largest manufacturers, distributors and marketers of nonalcoholic beverages. It is available in 312 countries including Pakistan. It came into Pakistan 1950’s and starts its operation. In 1996, the coca cola itself took over business operations in Pakistan & setup its 1 production plant in Karachi. Now there are 6 production units and11 distribution units working in Pakistan providing employment to more than 6000 people. The coca-cola company sponsors the basant festival in Lahore this festival attract the visitor all over the world.
Organizatio...
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... had spent millions in order to create their own brand name. They are sponsoring many events at local and global level. They are sponsor of coke studio and in Olympic Games etc
4. Brand development
Coke cola brand development contains the following choices for extension of its products.
Line extension
In line extension existing brand name is coke and existing products are coca cola, diet coke and zero coke. These are the variations in existing product like coke
Brand extension
Brand extension means existing brand with new products and coke had not selected this strategy yet.
Multi branding
In multi branding new band is laughed in existing product for example coke laughed Sprite, Fanta and 3G sprite
New brands
New brand means laughing new product category and also new brand and coke had not selected this strategy for brand development.
Logo is acknowledged everywhere throughout the world. The Coca-Cola drink was established in 1886 in Atlanta, Georgia by creator John Pemberton, an average of nine servings of Coca-Cola was sold each day. As of today, Coca-Cola has expanded its numbers to 1.9 billion servings of company merchandise (Coca-Cola, 2017, Who we are).
Brand extension is a useful way to introduce promising products that will revive the brand name in hopes of retaining its loyal customers. Take a company of the magnitude as Molson Coors Brewing Company, established in 1873, whereby producing its famously known beer (Coors, 2017). There were several flavor offerings for the bottled sparkling water such as original, lemon-lime, and cherry (Time, 2009).
To handle the enormous scope of its business, the Coca-Cola Company has divided into six operating units: Middle and Far East Groups, Europe, The Latin America Group, The North America, The Africa Group and The Minute Maid Company. The head Quarter is in the United States. Methods of Research I will use The method of research which I will use is the secondary research, i.e. I have asked The Coca-Cola Company to send me their history and annual reports. I will also call The Coca-Cola Company office to ask some details, I will also use ask them some relevant questions (questionnaire method), interview the people on the high street and will do some research over the Internet. From those sources I am going to finish my all other tasks.
Coca –Cola (KO) is one of the world’s largest beverage companies. Company was incorporated in September 1919 under the State of Delaware law and headquarters is located in Atlanta Georgia. But from 1886, company established its brand in US (Coca-Cola, 2012, p. 1). Currently company is providing for more than 500 varieties of non-alcoholic sparkles to the customers around the world. Apart from this, company also serve for still beverages that includes enhanced water, water, ready-to-drink, juices, energy drink, sport drinks and so on.
1975 heralded the Pepsi Challenge', a landmark marketing strategy, which convinced millions of consumers that the taste of Pepsi was superior to Coke. Simultaneously, Pepsi Light, with a distinctive lemon taste, was introduced as an alternative to traditional diet colas. In 1983 Coke launched aspartame/saccharin blend Diet Coke. In response in 1989 Pepsi-Cola introduced an exciting new flavor, Wild Cherry Pepsi. Thus Diet Pepsi's 'The Other Challenge' campaign was based around a 54-46% lead over Diet Coke in independently researched taste tests in Australia. It was only in 1996 that Pepsi unveiled a revolutionary 'blue' look worldwide 'to transform the image and attitude' of one of the world's best-known brands. 'Pepsi Blue represents a quantum leap into the future and redefines how the Cola Wars will be fought and won in the 21st Century.'
Pepsi Company (PepsiCo) owns many brands of beverages, snacks and other foods. Its major product, Pepsi Cola, is one of the most popular carbonated beverages. Besides that, PepsiCo owns the brands Quaker Oats, Gatorade, Frito-Lay, Tropicana, Mountain Dew, Naked, Mirinda and SoBe. In order to maintain, or preferable expand, its market share, PepsiCo constantly introduced new products under its brands. This is a marketing strategy known as Product Development. By modifying the formulas and ingredients, PepsiCo had invented and marketed more than 50 types of carbonated beverages under the brand of Pepsi. To name a few, Pepsi Free introduced in 1982, Pepsi AM introduced in 1989, Pepsi Tropical introduced in 1994, Pepsi Blue introduced in 2003, Pepsi Edge introduce in 2004, Pepsi Lime introduced in 2005, and Pepsi Ice introduced in 2007. Some of the products survive and being accepted by consumers, however large number of the new formula Pepsi had failed and been removed from the market shelves in as short as 6 months.
Pepsi's hope is to usher in a new era, and to give them a clear-cut advantage over their rival, Coca-Cola. By following closely the six steps of the new-product development process, the company could expect such benefits as: improved teamwork, less re-working, earlier detection of likely failure, and higher success rates. Rix, Peter, 2001, Marketing, A Practical Approach. Stage One: Generating New Product Ideas. The first step for Pepsi Cola to undertake is to generate ideas for the new product.
Since neither of the products created the measurable sales and market share increase Pepsi needed, PepsiCo International (PCI) executives conceived of a plan to create a new tagline and re-brand all existing Pepsi products, signage, advertising materials and in-store display units. The executives envisioned a simultaneous, global campaign that would create stronger brand equity and resonance in the consumer consciousness.
"Over a century of sweet tasting beverages with family and friends." The positioning statement of Coca-Cola needs to project the image in the minds of their existing consumers, as well as potential new consumers, the history of Coca-Cola being a competing global brand in the beverage industry and the association of the brand with fun themes such as social events, parties, family activities, etc. According to Kotler and Keller (2016), positioning "is the act of designing a company 's offering and image to occupy a distinctive place in the minds of the target market." There are factors that must be taken into account to produce an effective positioning statement that will attract the attention of the targeted market segment:
By formulating a marketing strategy, a company can identify business goals necessary for the company to be accomplished in terms of selling their products or services. Whether it may be creating awareness of the company and its products and services or successfully targeting a new audience, the goals decided on by the company aim to improve an aspect of the company through marketing goals. These marketing goals will elevate the level of the company based on the marketing strategy selected such as cause marketing, close range marketing, relationship marketing, transactional marketing, word of mouth marketing, call to action marketing, diversity marketing, mass marketing, seasonal marketing, public relations marketing, direct marketing and online and social media marketing (Jeffrey, 2017). Coca Cola used brand consistency as a marketing strategy to raise awareness about its product, whereas Apple used several types of tactics within their marketing strategy to create awareness, build relationships with customers, create comfort and need and value proposition through the use of marketing campaigns which resonated with their target segment (Kulkarni, 2017). Despite the fact that Coca Cola and Apple used two different means to promote their products and services, both companies showed that a well processed marketing
The Coca Cola Company offers its products through stylish and unique labeling which presents the Coca Cola brand logo on every product. The customers can easily identify the Coca Cola products because of its unique packaging (Freeman, Kelly, Baur, Chapman, Chapman, Gill &King 2014). In 1986 the Coca Cola Company introduced its new product Diet Coke through Secondary brand association. The major benefits of secondary brand association for the new products are as follows:
However, a sales performance review in the year 2015 of new soft drinks introduced by Coca cola established that in Mount Kenya region, only 15% had succeeded, 55% were performing poorly, 17.5% had failed completely, while another 12.5% exhibited abnormally high artificial growth.(MKBL,2015) Despite the introduction of new products by the Company, its market share in the soft drinks market dropped from a high of 98% in year 2013, to a low of 93% in 2015 in Mount Kenya region, which included Nyahururu town. (Ac Nielsen, 2016). There have been complaints by customers on the products attributes, pricing, distribution and the execution of promotional activities. Still, there is scanty and inconclusive empirical data that would explain this trend of Coca cola products within Nyahururu town. A study by Migwi (2012) researched on Mount Kenya Bottlers response strategies to changes in external environment. However this research did not study the effects of marketing mix variables of new Coca cola soft drink products on sales performance as it was out of scope. This study therefore, aimed at filling this knowledge gap by examining the effects of marketing mix variables of new Coca cola soft drink products on the company’s sales performance in Nyahururu town. It aimed at providing insights towards the application and integration of the marketing mix variables by marketing managers so as to achieve the envisaged goals. By gaining insights into how sales performance is affected by the marketing mix variables, the company is going to design and integrate the marketing mix better, therefore improving sales performance in terms of market share, growth and ultimately,
For customers to recognize their choice of brand products,advertisement has played very significant role in the business industries.Coca Cola position in the market is well known in the soft drink industries and its related competitors PepsiCo brand product. The primary concern about the advertisement is to get the brand, product name to be better known. The Coca Cola bottling system also gives the company opportunity to grow fast in the business world. The popularity of Coca Cola and marketing strategies has enabled them to sensitize their customers in the market, which give them the opportunity over their competitors in the
"Coke" is the second most recognized word throughout the whole world right after the word “Ok”. Take a moment and realize what this means. Almost everyone in the whole world knows what a Coke is and relate it to the Coca-Cola Company. The Coca-cola Company was founded in 1886. This is the same year the Coca-Cola soda was invented. I've seen people drinking this soda all my life and throughout my own life I have taken up this action as well. Coca-Cola has become very popular over the decades and has even stayed very well known the whole time. Why is that? Maybe it is because of their advertisements. This Coca-Cola advertisement expresses happiness with a Coke to persuade and even manipulate its audience with natural and pure imagery, includes
In terms of promotional activities, the advertising and giving away of free offers and vacations by Coca cola and Basmati rice by Pepsi, the coca cola’s goal in connecting the youth to the market, the different promotional TV campaigns in India using of celebrities, and the Pepsi sponsorship of cricket and soccer sports. In terms of pricing policies, Pepsi got a quicker market share by their belligerent pricing policies and coca cola’s 15-25% price cut down in the market. In terms of distribution arrangement, the bottling and packaging of products for better distribution around