BSBMKG502B - ESTABLISH AND ADJUST THE MARKETING MIX Assessment Task 1 – Work Based Knowledge Test 1. What are the characteristics of the products and/or services in your business? Ans. I am working in . We are selling burgers as well as fries and soft drinks. But recently we start selling frozen coke and ice cream‚ which Mc d was selling and now we are making good money. 2. How do these products and/or services relate to the market they are in‚ and to the immediate competitors? Ans. We have
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Introduction The purpose of this essay is to look at the Marketing Communications Mix‚ clearly define the meaning of each type and show how Coca Cola‚ one of the biggest brands on the global market‚ utilises each method. Belch‚ E. and Belch A. describe Integrated Marketing Communications as “a concept of marketing communications planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines and combines these disciplines
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COLA-WARS Main Issue: Factors causing the decline in CSDs and Cola Sales: ------------------------------------------------- Carbonated Soft Drinks (CSDs)‚ the foundation of Coca-Cola’s brand is declining‚ although it still holds the highest market share in comparison to non-CSD beverages. Coca-Cola is at risk of eventually producing a negative return from its CSDs and to be outperformed by non-CSDs‚ non-carb beverages and bottled water within its own product line‚ and with its competitors if
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Developing The Marketing Mix The marketing mix is probably the most crucial stage of the marketing planning process. This is where the marketing tactics for each product are determined. The marketing mix refers to the combination of the four factors(price‚ promotion‚ product‚ place) that make up the core of a business’s marketing strategy. In this step of the marketing planning process‚ marketing mix must be designed to satisfy the wants of target markets and achieve the marketing objectives. The
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Marketing Mix The marketing mix for a product is a major factor in influencing whether a business can sell it profitably. The marketing mix is made up of seven interrelated decisions − the 7Ps. The four key ones are product‚ price‚ promotion (including advertising and packaging) and place (where and how a product will be sold to consumers). The other 3Ps largely relate to marketing services – people‚ process and physical evidence. Consumers require the right product. This might be an existing
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------------------------------------------------- KEY CHARACTERISTICS (PRODUCTS AND SERVICES) AND MARKET SIGNIFICANCE One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related to product positioning‚ as pricing alone can affect other marketing mix elements such as product features‚ distribution‚ and promotion. To compete and excel in the market Braaap have shown the use and benefit of pricing variables to their business and
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Examines the industry structure and competitive strategy of Coca-Cola and Pepsi over 100 years of rivalry. The most intense battles of the cola wars were fought over the $74 billion CSD industry in the United States‚ where the average American consumes 46 gallons of CSD per year. In a "carefully waged competitive struggle‚" from 1975 to the mid-1990s‚ both Coke and Pepsi had achieved average annual growth of around 10%‚ as both U.S. and worldwide CSD consumption consistently rose. However‚ starting
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What Happened at Coca-cola Advantage of Diversify Organization In a multicultural nation such as the United States‚ one would assume that the concept of diversity would have a clear definition; but the definition of diversity differs from person to person‚ from organization to organization‚ and from author to author. In some organizations‚ diversity is strictly focused upon race‚ gender‚ religion‚ and disability status; in other organizations‚ the concept of diversity is extended
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Coca-Cola as we know it is a huge beverage giant. The amount of data compiled by this company is overwhelming. With such a large collection of data the company has created many different programs designed to turn useless data into profit. I would like to discuss one of these programs in order to describe how they gather this information‚ what type of information they gather‚ and how this information helps Coca-Cola market its products. In order to gather useful information the Coca-Cola Company
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Introduction Coca-Cola and Pepsi are the two greatest competitors in the soft drink industry. A brief introduction and history of the two companies will provide a basis for understanding how the companies have come to be where they are today and how they run their companies. The company structure of each will also be briefly explained to provide an understanding of how management style is impacted. Marketing and Advertising The marketing skills that these companies possess are the reason both Coca-Cola
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