Coca-Cola is the company of choice to be discussed in this scenario of “strategic marketing planning process”. Coca-cola is the company which is mainly dealing with soft drinks as its main product (Gertner and Rifkin, 2018). The company has more than one product, this enables Coca-cola company to penetrated and explore large market territory using the different alternative of products. This is a worldwide organization which encourages customers so more to like and consume their products improving competitive advantage.
Every business needs a market plan to succeed in outsourcing its product and services to the customer (LaTour, LaTour and Wansink, 2018). Marketing as a strategy needs to be developed through a certain process. These are ways which will help the organization to achieve goals and objectives towards the target market. Good strategies will increase competitive advantages of an organization, if down streaming activities are used than upstream activities (Dawar, 2013). The following is a brief description of the strategic marketing planning process which is employed in achieving organization goals. According to McCamley and Gilmore (2018), the following are the strategic marketing process:
As expressed in the first paragraph, Coca-cola is a company of many products all belonging in the line of soft drinks. The Company needs a strong marketing as a strategy which will enable it to penetrate in the market easily and have competitive advantages. Coca-Cola Company has been among the most leading companies in the worldwide in the market due to the use of effective market planning process (Sinha and Sheth, 2018). This company has invested much in marketing so as to maintain strong relationships with the existing customers and win others in the market. Coca-Cola Company has a strong competitive advantage compared to other surrounding companies because it focuses a lot on down streaming activities than up streaming. This means Coca-Cola is aiming to shape customers’ perception and eliminating unnecessary cost towards the product than coming up with superior production as their competitors did (Dawar, 2013).
According to the strategies of the effective market planning process, Coca-Cola Company has exploited them in a successful way since the result can be witnessed in the market. Why say this? Because the company already has analyzed the market well by knowing the customers demand and needs towards their product. Use of modern competitive techniques has helped Coca-Cola to sell those brands at a high rate regardless of the season and competition in the market (Serôdio, McKee and Stuckler, 2018). The Company targets all people in the marketplace regardless their age, social class, lifestyle, and background since the products are of many varieties.
Situation analysis well is done. The company has identified several strengths it has on the marketplace compared to that of competitors. These strengths have enabled the company to have large market territory and use of competitor’s weakness to penetrate in the market. For example, one of the strengths the company has is a use of effective down streaming activities as a weapon of winning more customers (Dawar, 2013). Also, the company has drinks for hot and cold weather, having drinks for relaxation stimulation, medical and enjoyable drinks all are available in the market from the Coca-Cola Company (Titus, 2018).
The marketing strategies and program are well managed. This is because the Company has used the best marketing mix amongst its competitors (Kwiatkowski, 2018). Pricing methodology of the product is varying with the market economy ensuring customers will not feel the difficulties of purchasing the product regardless of the economic challenges. The company practices frequent promotional activities in the market which encourages the customer to maintain the stand of their products value.
After the implementation of all these processes, the company has some measures which uses to maintain good customer relationship regardless of the production process and costs. The company believes to have competitive power based on focusing the down streaming activities than up streaming activities (Sauerbronn, Barros and Faria, 2018). This helps the company to satisfy different customers’ needs as required in the market.
This part will identify the key components for the user in developing successful marketing strategies plan for Coca-Cola Company. From all the above process of the strategic market plan we have discussed, only three components are very key to support all processes in marketing strategy: planning, implementation, and control. These component are as follows according to the Tomczak Reinecke and Kuss, (2018):
Conclusion
Using marketing as a strategy has promoted a competitive way of the business in the marketplace. Using down streaming strategies are most important in the modern market than only forecasting on the logistics and superiority of the production. This is the secret used by Coca-Cola Company to succeed and sustains a position in the marketplace. Also, is very advantageous for any organization to follow all steps in the processes of making strategic marketing plan. Those steps helps the organization management to have a good idea of what is expected in the market, how to deal with it and how to face the existing and any other upcoming competitor in the marketplace. Use of marketing as a strategy is very good idea in marketing since it focuses on the customers’ needs and reduce down the cost incurred by them therefore, making organization product superior in the market all times.
Reference
Biroscak, B.J., D., Aguado Loi, C.X. and Bryant, C.A., 2018. Applying Tools from Human-Centered Design to Social Marketing Planning. Social Marketing Quarterly, 24(2), pp.63-73.
Bocconcelli, R. and Splendiani, S., 2018. SMEs and marketing: a systematic literature review. International Journal of Management Reviews, 20(2), pp.227-254.
Dawar, N., 2013, ‘When marketing is strategy’, Harvard Business Review, December, pp. 100–108.
Gertner, D. and Rifkin, L., 2018. Coca?Cola and the Fight against the Global Obesity Epidemic. Thunderbird International Business Review, 60(2), pp.161-173.
Kwiatkowski, C., 2018. Service quality management model and relationship marketing. ?????????? ???????, p.128.
LaTour, K.A., LaTour, M.S. and Wansink, B., 2018. The Impact of Supertasters On Taste Test and Marketing Outcomes: How an Innate Characteristic Shapes Taste, Preference, Experience, and Behavior. Journal of Advertising Research, 58(2), pp.240-254.
McCamley, C. and Gilmore, A., 2018. Strategic marketing planning for heritage tourism: a conceptual model and empirical findings from two emerging heritage regions. Journal of Strategic Marketing, 26(2), pp.156-173.
Sauerbronn, F.F., Barros, D.F. and Faria, A., 2018. Coca-Cola and strategic CSR. In The Dark Side 3 (Vol. 55, No. 64, pp. 55-64). ROUTLEDGE in association with GSE Research.
Serôdio, P.M., McKee, M. and Stuckler, D., 2018. Coca-Cola–a model of transparency in research partnerships? A network analysis of Coca-Cola’s research funding (2008–2016). Public health nutrition, 21(9), pp.1594-1607.
Shtal, T.V., and Toiboldinova, Z.G., 2018. Methods of analysis of the external environment of business activities. Revista ESPACIOS, 39(12).
Sinha, M. and Sheth, J., 2018. Growing the pie in emerging markets: Marketing strategies for increasing the ratio of non-users to users. Journal of Business Research, 86, pp.217-224.
Titus, P.A., 2018. Exploring creative marketing thought: Divergent ideation processes and outcomes. Psychology & Marketing, 35(3), pp.237-248.
Tomczak, T., Reinecke, S., and Kuss, A., 2018. Marketing Implementation and Management Control. In Strategic Marketing (pp. 223-244). Springer Gabler, Wiesbaden.
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