ASSIGNMENT BASED ON TARGET
MARKET STRATEGY OF COCA COLA
SUBMITTED BY ARIF BHAT
TABLE OF CONTENTS
1) Introduction of target market
2) Introduction of coca cola
3) Target market
4) Major segments
5) Strategies of quality
6) Marketing strategy
7) Marketing positioning
8) Price strategy
9) Promotion strategy
10) Marketing mix of coca cola in Bangladesh
11) Major competitors
12) Strategies of Pepsi
INTRODUCTION OF TARGET MARKET
Target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place, promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace.
Target markets are groups of individuals separated by distinguishable and noticeable aspects. Target markets can be separated into:
• geographic segmentations, addresses (their location)
• demographic/socio-economic segmentation (gender, age, income, occupation) psychographic segmentation (similar attitudes, values, and lifestyles) • behavioural segmentation (occasions, degree of loyalty)
• product related segmentation (relationship to a product)
Here are some questions to get you started:
Are your target customers male or female?
How old are they?
Where do they live? Is geography a limiting factor for any reason? What do they do for a living?
How much money do they make? This is most significant if you're selling relatively expensive or luxury items. Most people can afford a carob bar. You can't say the same of custom murals.
What other aspects of their lives matter? If you're launching a roof-tiling service, your target customers probably own their homes.
INTRODUCTION OF COCA COLA
Coca-Cola Enterprises, established in 1986, is a young company by the standards of the Coca-Cola system. Yet each of its franchises has a strong heritage in the traditions of Coca-Cola that is the foundation for this Company. The Coca Cola system has more than 16 million customers around the world that sells or serves our products directly to consumers.
There are different brands of the Coca Cola Company, which are currently in use throughout the world. This company not only deals in the carbonated drinks but also other drinks. While launching its product, the marketing team considers the culture of the country.
Major brands of coca cola
· Diet coke
· Coke classic
Coke’s commercials basically based on young generations, So the young generation is the target market of Coke because they want to represent Coke with the youth and energy but they also consider about the old people they take then as a co-target market
Major segments are basically those people who take this drink daily and those areas where the demands is higher then the other areas. There are so many people who take this drink daily and those people who take weekly and those who take less often are always there as well. So, their basic segments are those people who take this drink regularly.
PROMISE OF COKE
The basic proposition of our business is simple, solid and timeless. When we bring refreshment, value, joy and fun to our stakeholders, then we successfully nurture and protect our brands, particularly Coca-Cola. That is the key to fulfilling our ultimate obligation to provide consistently attractive returns to the owners of our business.
MAJOR CUSTOMERS NEED
First of all the majority don’t care that what they are going to have. In other words, they don’t care before drinking that whether it is “Pepsi” or “coke”. They don’t actually differentiate between these two brands in order to their tastes. Consumers basically drink what they get. They believe on “WHAT COLD THEY SOLD”...
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