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Coca-Cola Company Marketing Plan

Essay by   •  May 6, 2013  •  Case Study  •  1,329 Words (6 Pages)  •  1,803 Views

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Marketing plan

A marketing plan is a detailed, researched and written report that a business uses in order to outline the actions that should be taken to customers and clients and measures taken to persuade them to purchase the product. It communicates to the customers on the value of goods and services. Marketing personnel evaluate the results marketing decisions made in previous years and the market in which a business operates in order to make the right decisions .They also set goals that provide direction on how marketing should be carried out. Coca-Cola Company success has been attributed by a well structured marketing plan. Marketing plan prepared by the management determines how well it will exist in the market.

Product identification

A brief discussion is made concerning an existing or new product of a business in the marketing plan. Product identification involves knowing the identity of a product from its source of production, raw materials used in production, work -in- progress, finished product storage and the delivery of the products to the customers. Identification of a product can be controlled through electronic and physical methods. Product decisions should include products brand name, quality, and scope of the product line, warranty and its mode of packaging. (Derek 45).

Coca-Cola Company sells soft drinks and beverages to the customers. Its management takes into consideration the advantages of selling a product and how it's leveraged in the market so as to maximize on its profits. The branding and packaging of its products unique thus has a higher competitive advantage as opposed to that of its competitors.

Marketing objective

The basic strategy of a business is to determine a business objective .Some non-financial market metrics can be used to measure the success of a business. These include target market objectives and market shares- total number of new or retained customers and rate and size of purchases made in a business. These metrics show the conditions and a circumstance facing a company that cannot be solved through using financial methods (Baker 19).Coca Cola Company overall objective has been to meet the needs of its customers, to penetrate the market through providing high quality products and having a big market share through distributing its products to all parts of the world.

Market

The size and mark up of a market is determined by the products being sold in a business. It is also indicated by the environment in which it's conducting its business. In the marketing there should be a mission statement that identifies a businesses long-run goal, market it serves incentives and products and services given to customers. Coca-Cola Company's markets it products through producing concentrate syrup that is fit for consumption to all its franchise shops in the world, this increases the sale returns of the company.

Competition

When preparing marketing plan one should take into consideration the reasons that make a customer prefer a product from one business as opposed from its competitor. According to Porter, he stated that it is important to prepare a detailed competitive summary of the products and services variables and be ranked in comparison to those of its competitors so as to prepare the right plan for a business. The variables include; pricing, sales, trends, positioning, clarity, quality, target market focus, packaging, advertising and customer service. The management of a company should know it competitors so as to understand its strengths and weaknesess.These can be achieved through evaluating the competitors experience in business, purchasing power, market position, strength predictability and the freedom to abandon the market. The Coca Cola Company produces different kinds of products which increases of its sale turnover and makes it to have a higher competitive advantage as opposed to its competitors. It sometimes gives free samples and incentives to its customers.

Pricing

A price is determined by the net income and the objective that a company have for the market of its product. The pricing decisions can be determined by knowing the market, competitors, the economic condition of a country and the customers.

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