Marketing Development And Competitiveness Of Coca Cola Company

Company’s background

Discuss about the Marketing Development and Competitiveness.

Coca Cola Company was established in 1886 by Dr John Styth Pemberton and is the world most driving producer in drink industry. It works all-inclusive to more than 200 nations and delivers more than 400 refreshment brands. The number of drinks consumed per day is over 1.06 billion all around the world. The main objective of this industry is to supply everyone their favourite drink thereby satisfying wants and needs. It also aims at providing profit to the shareholders adopting strategic implementation to increase market share. The company’s product includes syrups and beverages concentrations aiming at the finished beverages usages (Castronovo & Huang, 2012). Being the most well-known trademark it gets the recognition by 94% of the total world’s population. Coca Cola utilizes publicizing as the principle source to build buyer mindfulness mostly being through TV and radio. This source helps reaching it to a larger audience.

Coca cola presence began in 1886 with the creation of this distinct taste of soft drink sold at soda fountains. This flavoured syrup was deemed excellent making with naming the drink “Coca-Cola” planning the trademarked and particular script. The coca cola bottle was so distinctive that it recognised to set the brand apart from competition. For around 70 years the beverage produced and sold was flagship Coca Cola. After than many beverage selection and portions were made for every lifestyles, stages and occasion. Presently nearby 500 brands have been sold almost in 200 countries which amounts to 3500 beverages in various categories including low and non-calorie sparkling beverages, bottle water, energy drinks, sports, ready-to-drink teas, coffee, and regular. Available in mixing flavour combinations with new interactive fountain dispenser the company has a successful track record of product innovation (Dong, Janakiraman & Xie, 2014). Owing to the changing needs among cultural diversity Coca Cola is evident in taking initiatives from dedicated groups to identify emerging brands in innovation recycling programs and other packaging schemes. Even though the company is successful in selling its product to a wider range, there are still aspects where it can be improved in further observation. Now as per the marketing and advertising objectives it has to promote lesser known products under it to get more success (Iyer, Velu & Mumit, 2014). In order to achieve these goals it plans in focusing its attention to advertise such products. Again it wants higher healthier lives i.e from choosing substituted goods. At this prosper advertising and marketing campaigns have increased the copany’s brand power. Spending worth $3.37 billion of its 2013 revenues measured over loyalty points programs, point-of-sale marketing and store activations.

Target/Segments Audiences

As far as target market is concerned for Coca Cola the company has set certain limitations. The indications avoids for buying advertising in market audience ratio that includes who is 12 years under age. Now segmentation in marketing statement involves defining the appropriate products for different customers (Luxton, Reid & Mavondo, 2015). The target group doesn’t include any specific segment rather it adapts the strategy to develop new products. Concerning the coke addresses to everyone mainly the consumers belonging between 12-30 age people. This brand has succeeded in reaching these audiences through partnership among the consumers. Take for instances the restaurants, fast foods that are not upon gender basis but shows that both genders like this products to use it effectively. Even in case of life styles they are not targeted and are considered to be the most important part of coca cola consumers.

Coca Cola has been launched in order to accomplish particular goals. Presently this is clear that fundamental target of this organization as a business substance is to amplify the benefit. Thus every effort has been put to achieve this primary objective. Even though the advertisement campaigns contributes for achieving this primary objective is many ways. In order to meet the marketing objectives the IMC strategic approach lies in dealing with growth and rate of the company. Now family brands are influenced driving the profitable growth, generating it through all channels and creating consistent services to the targeted customer (Petersen, Kushwaha & Kumar, 2015). Through awareness among the people they face the products emphasizing to its competitors in market. Certain brands come with great taste that differentiates itself from other brands. Again, as the leader of the drinks it reinforces the brand to saturate with leading audiences.   

Coca Cola defined various criteria which assesses the success of the marketing campaign. This analysis helps is effectiveness building based upon the market share criteria. Now though the measure of effective integrated marketing communication, profitability is seen thus increasing the efficiency. The awareness is created for the company and among the related items. This focus is considered not as the primary objective because of high level of brand recognition that is widely known in the segment of the operation of the company. Secondly, it informs and educates the consumers and buyers showing the nutritional and health aspects of the coke. Again it reassures the customer to reinforce any particular desirable buying to behaviour (Parente & Strausbaugh, 2014). It marketing objective is accomplished by integrating the consumption to the lifestyle of the customer. Another approach to evaluate success of marketing communication is through media. This involves building media relations assessing through variety of media tools like number or total audience, number of journalists hosted, advertising equivalency, articles published, etc. As per the integrated approach to combine the comparative importance of the components and create a sensation builds the overall success of IM. This utilization will let Coca Cola continue as the market leader that will be recognized universally.

Prepare communication objectives (e.g. IMC, brand awareness etc. etc.)

It is known that Coca Cola has billions to brand their beverage. Starting at the earlier advancement process this industry has helped cultivate culture in many countries one among is America. It led to a global sustainability program representing to commitment and making a difference in the world. There it emphasizes the importance of sustainability in the work they do pulling up the efforts being scattered in many divisions into a cohesive strategic. Now creative tools were employed to engage and design the entire visual system adding to the coke brand (Podnar & Balmer, 2013). The design approach aims at simplifying to connect while supporting the commitment to offer choice. The design element helped uniting the trademark visually thereby refreshing and uplifting to new communicating messages. In order to give Coca Cola a modern look various modifications and re-imaginations were made featuring the sweeping lines and rounded corners. This imagination extended the global equity and appealed the original coca cola to come into life in campaign. Now featuring the product the heart of creativity allows customer to choose and suite as per their lifestyle, taste and diet.

Media is considered as the most effective advertisement method that works upon the principle of published media and visual/aural media. Different types of media include newspaper, trade and professional press, internet as well as magazines. As for newspaper coca cola uses it widely for media advertising. Coca Cola has been occupied with promoting at this point for over 100 years. Essentially for magazines, this has likewise been broadly utilized at a worldwide level advertising the brands according to the reliability through the target customer segment (Pavlou & Stewart, 2015). It has occupied the whole page of the magazine thus maximizing as positive impact of marketing initiatives. With respect to the web case this online notice is embraced through utilization of pop-up advertisements, flags, nearby sponsorships and other overing in a large number of sites. Coca Cola through TV is likewise expanding with the organization spending impressive measure of monetary assets and TV promotions in various nations changing from each other and considering the qualities of the nearby culture. This has however driven a positive effect of the TV notice activities.

It has been seen that more than 80 percent than $4 billion the company spends upon marketing. This is revealed as per the data put in 2013 where it spent $3.3 billion on advertisement. Due to the nature of the industry, Coca Cola makes a yearly commitment to such larger ad spending. Now this yearly advertising has increased steadily in the last 15 years. It is expected that coca cola might the advertisement budget to $1 billion b 2016. In 2014 coca cola became the largest advertiser in the beverage industry (Rawal, 2013). This allowed the industry to gain more competitive advantage in key areas. Again because of the spending and strategy successful introduction to new products into the marketplace was met leading to increase the brand equity and brand awareness and increasing the knowledge and overall sales.

Creative strategy

An effective integrated marketing strategy is implemented effectively and is necessary for organizations in present day business word. Without it the odds to see the organization long haul development will be bargained.

In this way to be fruitful the segments and all components of showcasing effort must be powerful. In this report I have talked about the related issues to Coca Cola Company bringing into concern their different items specifically. Here the organization depends on media broad development to lead its coordinated advertising correspondence technique.

This strategy starts the leading procedure refering to scope of targets to accomplish and energize buyers. Keeping in mind the end goal to deliver the world’s best known item, the organization needs to utilize the most astounding quality process along these lines building up measures that would ensure the creation of institutionalized item. This would some way or another meet customer desires every last time they look for drinking a container of Coca Cola.

Presently add up to quality lies at the heart of procedure, thus coca cola puts mush emphasis on getting quality standards through continual seeking creative ways to improve its performance. Again, it has highlighted the peak point of media advertising strategy involving the route of better prospect handling through different media tools and arranging campaigns. As global companies needs generation of high profit levels; building an existing competitive advantage have to go through promotion and provision of value for money product. This is the same for Coca Cola for consistent expansion and development in its distribution system.

References

Castronovo, C. and Huang, L., 2012. Social media in an alternative marketing communication model. Journal of Marketing Development and Competitiveness, 6(1), p.117.

Dong, X., Janakiraman, R. and Xie, Y., 2014. The effect of survey participation on consumer behavior: The moderating role of marketing communication. Marketing Science, 33(4), pp.567-585.

Iyer, S., Velu, C. and Mumit, A., 2014. Communication and marketing of services by religious organizations in India. Journal of Business Research,67(2), pp.59-67.

Luxton, S., Reid, M. and Mavondo, F., 2015. Integrated marketing communication capability and brand performance. Journal of Advertising,44(1), pp.37-46.

Petersen, J.A., Kushwaha, T. and Kumar, V., 2015. Marketing communication strategies and consumer financial decision making: The role of national culture. Journal of Marketing, 79(1), pp.44-63.

Parente, D. and Strausbaugh-Hutchinson, K., 2014. Advertising campaign strategy: A guide to marketing communication plans. Cengage Learning.

Podnar, K. and Balmer, J., 2013. Contemplating corporate marketing, identity and communication. Routledge.

Pavlou, P.A. and Stewart, D.W., 2015. Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing in a New Millennium (pp. 218-222). Springer International Publishing.

Rawal, P., 2013. AIDA Marketing Communication Model: Stimulating a purchase decision in the minds of the consumers through a linear progression of steps. IRC’s International Journal of Multidisciplinary Research in Social & Management, 1, pp.37-44.

Soba, M. and Aydin, M., 2013. Product placement efficiency in marketing communication strategy. International Journal of Business and Management,8(12), p.111.

Schultz, D.E., Kim, I. and Kang, K., 2014. Integrated marketing communication research. The handbook of international advertising research, pp.455-483.

Thorson, E. and Moore, J., 2013. Integrated communication: Synergy of persuasive voices. Psychology Press.

Vernuccio, M. and Ceccotti, F., 2015. Strategic and organisational challenges in the integrated marketing communication paradigm shift: A holistic vision. European Management Journal, 33(6), pp.438-449.

Valos, M.J., Haji Habibi, F., Casidy, R., Driesener, C.B. and Maplestone, V.L., 2016. Exploring the integration of social media within integrated marketing communication frameworks: Perspectives of services marketers.Marketing Intelligence & Planning, 34(1), pp.19-40.