ANALYSIS OF MARKETING STRATEGY
(MARKETING MIX AND PROMOTIONAL MIX)
OF COCA COLA
Coca-Cola is one of the most widely used soft drinks in the world. There is a great variety of brands offered by Coca-cola like diet Coke, Sprite, RC Cola, Minute Maid etc. You can find the Coca-cola soft drinks in any places.
In 1919 Coca-Cola decided it was time to go global. The Coca-Cola Company decided to take its operations beyond national boundaries and marketing research was started in Central America, China and many other countries of the world. Because of successful and efficient marketing research Coca-cola was able to produce globally in different regions of the world. The 'Coca-Cola' brand has been adopted the strategy of global marketing. They are considering the whole world as single market place and uniform marketing strategy was being used by Coca-cola for many years, but now the trend is changing and different marketing campaigns are being designed for different regions of the world. Business decisions are made on a domestic basis to fit in with the culture and needs of the domestic community.
There are many reasons why company decided to sell its product in international market. The prospect exists to sell 'Coca-Cola' worldwide, because 'Coca-Cola' is a product which can be used by everyone irrespective of age and gender, all over the world. Marketing globally demand the company to have a marketing team in line with a country's consumers so effective sales can be made and good relations with the abroad key employees can be maintained (Arthur A. Thompson Jr., A. J, 2005).
This paper contains an analysis of the marketing mix and promotional mix strategy of Coca-cola adopted in the Philippine setting. I chose the product because it is one of the largest and well-known beverages in the world. The rapid growth and the company’s image in the market impressed me and pushed me to discuss the topic.
MARKETING MIX OF COCA-COLA
Marketing is the art and science of selling. Ingredients for a good marketing (according to Philip Kotler) are the 4P’s: product, price, promotion and placement. An effective marketing program combines harmoniously all elements of the marketing mix. Marketing mix is the main instrument of the company for obtaining strong positioning on the concerned markets. A. Product
Product refers to more than just physical objects or goods that you can own and take home. The authors of the paper: “Marketing. Explanatory Dictionary” (Florescu, et al., 2003, p.537) define product policy as a decision adopted by manufacturing or commercial companies regarding the size, structure and evolution of the range of goods and services (Lefter, et al., 2006, p.375, 405). Product policy is often compared with “the heart of marketing”. It has a direct connection with the other elements of the marketing mix. Coca cola is the leading provider of soft drinks not only in the Philippines but also around the world. In 2010, it not only had no. 1 selling soda with regular Coke, but its Diet Coke brand outpaced Pepsi for second billing. It has a number of brand variants, including Minute Maid, Royal, and Sprite. The company also produces fruit juices, mineral water, and sports drinks. Another aspect is its packaging. Coca cola offers variety of its products ranging from small (300 mL) to upsizes (1.5 to 2 liters), depending on the consumer’s needs. Packaging also promotes the product and distinguishes it from the competition. B. Price
Price is a market instrument and an index of the economic and social reality (Lefter, et al., 2006, p.449). Price is the only marketing mix variable which leads to profits, the others are generating only expenses and investments. Price is a very flexible element of the mix and it can be changed rapidly, unlike the product characteristics and the placement activity. Price is very important part of marketing mix as it can affect both the supply and demand of Coca cola....
References: Henage, Chad. Oct, 29, 2012. The Secret to Coca Cola’s Success. Date Retrieved: August 10, 2013. http://beta.fool.com/mhenage/2012/10/29/secret-coca-colas-success/15347/
Bilaras. 2013. Coca Cola Marketing Mix. Date Retrieved: August 10, 2013. http://bilaras.hubpages.com/hub/Coca-Cola-0
Molina, Ines. April 30, 2013. Marketing Business Case: The Coca Cola Company. Date Retrieved: August 10, 2013. http://resourcecenter.businessweek.com/assets/images/files/nmhu_student_case-_1st_place.pdf
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