The Coca-Cola Marketing Mix

Topics: Marketing, Coca-Cola, Advertising Pages: 5 (1143 words) Published: October 26, 2013
RUNNING head: THE COCA-COLA MARKETING MIX

The Coca-Cola Marketing Mix

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THE COCA-COLA MARKETING MIX

Abstract
The marketing mix is known as the 4 P’s or the product, price, place and promotion of Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. Coca-Cola has been long admired for its approach to marketing. Over its 127 year history, Coca-Cola’s efforts to refine and perfect its marketing mix has allowed the company to become the number 1 beverage company in the world. Coca-Cola is one of the longest surviving brands and among the most successful companies ever. No one would dispute that Coca-Cola has a very successful marketing strategy.

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The Coca-Cola Marketing Mix
The marketing mix is known as the 4 P’s or the product, price, place and promotion of Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. In other words, the marketing mix consist of getting the right product to the right place, at the right time, at the right price and with the most suitable promotional activity (Wilson, 2013). According to Arandilla, “Coca-Cola is one of the longest surviving brands and among the most successful companies ever”. The reason in part is their understanding and execution of the marketing mix (Arandilla, 2011, para. 1). Coca-Cola has been long admired for its approach to marketing. They understand that the various elements of the marketing mix must work harmoniously together (Mitchel, 2013). The first “P” of the marketing mix is the Product. The product is the single most important component of the marketing mix. Without a product, there is nothing to distribute, nothing to promote and nothing to price. If the product fails to satisfy consumer demand, no additional cost on any of the other ingredients of the marketing mix will improve the products performance in the market place (Hundekar, Appannaiah &, Reddy, 2010). Headquartered in Atlanta Georgia, Coca-Cola Company is the world’s largest beverage company, refreshing consumers with more than 3,500 products worldwide. It is the number one maker of sparkling beverages, ready-to-drink juices and ready-to-drink coffees. The company’s products are based on their core strength of enduring quality. The Coca-Cola Company has a large number of soft drinks products, but the most well-known are Coca-Cola, Diet Coke, Sprite and Fanta (Wilson, 2013).

The second “P” of the marketing mix is Price. The price that a consumer pays for a product involves its purchase price in monetary units (Eades, Laseter & Skurnik, 2010). In other

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words, the price of a product or service is what the seller feels its worth in terms of money, when offered to the buyer (Sherlekar, Prasad, Victor & Salvadore, 2010). Coca Cola has remained tremendously fluent and consistent with its pricing strategy (Dimanche, 2012). In existing markets, Coca-Cola products are priced around the same level as its competitors to be perceived different but still affordable. In new markets, Coca Cola uses lower price point to penetrate the market, raise brand awareness and to face the competition. Once it products are strongly implemented, Coca-Cola reposition its products as “premium” compared the competition (Dimanche, 2012).

The third “P” of the marketing mix is the Place. The place or distribution is the delivery of the product and right to use or consume it (Sherlekar et al., 2010). While many view CocaCola as a single entity, their system operates through multiple local distribution channels. CocaCola manufactures and sells its concentrates and syrups to bottling operations. The bottling operations then packages and distributes the final products to their vending partners. The vending partners then sell the products to consumers. It’s...
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