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Marketing Strategy of Coca Cola

Essay by   •  August 23, 2011  •  Case Study  •  3,297 Words (14 Pages)  •  2,616 Views

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College of Technology London

Marketing Strategy

Of

(Source: Google images)

Module name- Marketing

Module code- SBMG5002

Student ID- 29001943/1

Student name- SUYESH SHARMA Date= 17th December 2010

Table of Contents

Executive Summary 2

Methodology 2

Introduction 2

Marketing Strategy 3

Coca-Cola the Beverage Giant 3

Background 4

Marketing Strategy of Coca-Cola 5

Mission, Vision and Values of Coca-Cola 5

Mission Statement 5

Vision 5

Values 6

Porters Five Forces Analysis 6

Porters 5 Forces Model 6

PESTLE Analysis 7

Political Analysis 7

Economic Analysis 7

Sociological Analysis 7

Technological Analysis 8

Legal Analysis 8

Environmental Analysis 8

SWOT Analysis 8

Strengths- 8

Weakness- 8

Opportunities- 9

Threats- 9

Conclusion 10

Recommendations 11

References 11

Executive Summary

In this report you will be going to see various aspects of marketing strategy and tactics adapted by Coca Cola in order to perk up their business performance. Furthermore, you will find some marketing theories proposed by different authors and on the basis of these theories, there are relevant critical evaluation, recommendations and proposals for the betterment of the company.

Methodology

For the given topic about marketing strategy, I have chosen report format to carry out my work. For completion of this report the main sources were the books from various libraries, e-books, company's website, different articles, journals (available on internet).

Introduction

According to Peter Drucker in the Practise of Management, "There is only one valid definition of business purpose: to create a customer... therefore, any business enterprise has two and only these two basic functions: Marketing and Innovation. They are the entrepreneurial function. Marketing is the distinguishing and unique function of the business"

In common word, marketing is process which tells an organisation that what should be done to create and exchange the values with customers. In this sense, there is a very crucial role of marketing in setting the strategic direction for an organisation. (Silk, 2006, p.7) Marketing is very important than any other function of business. In this 21st century the concept of marketing has been changed a lot, in comparison to the past. In the past the main focus of the marketing was on the product and sales on the contrary, nowadays the main focus of the business in their marketing is to increase the customer service, customer relationship and customer value. This view is supported by the American Marketing Association, "Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (Durham University)

Customer value and satisfaction on the basis of creating customer relationship is the most important function of modern marketing practices. The main aim of marketing is to offer great deals to attract new customers and by proper delivering the promises, keeping and growing the current customers. Coca Cola is a brilliant example of this. They have been at the top most position in the beverage industry since a long time. Wal-Mart is another one; they are the world's largest retailer with their promise of delivering "Always low prices. Always!" These are some of the tens of successful companies which focus on their marketing for growing their market share. All organisations whether it is profit or non-profit require marketing.

In this report you will see the marketing strategy of Coca Cola which makes this beverage giant the world's most popular brand, the world's biggest beverage company with the theories on strategic marketing.

Marketing Strategy

At present, competition is at its peak than ever. This cut throat competition has totally changed the way of marketing in the business sector. Competition is the main reason behind the origin of strategy in marketing. Proper marketing strategy is the only way to face the ever changing nature of this competitive business world. The main motive behind the origin of marketing strategy is to make sure that the capabilities of the company are equivalent to the existing competitive business environment. (Hooley et al., 2008) Marketing strategy has laid the companies to build good satisfied customers with profitable environment which resulted in constant growth in the moderate competitive markets. Thus with the help of proper marketing strategy the company can prepare a good portfolio of their product which could counterpart their competitors. At the same time, there is a need of proper critical approach towards the strength and weakness in the organisation to the opportunities and threats in the market. Hence marketing strategy has proved to be an indispensable element in success of any organisation, whether it is concerned with the money or not.

Coca-Cola the Beverage Giant

COCA-COLA is the brand which doesn't require any justification about its success, as it is known by almost whole world (94%). They fact sheet have some astonishing figures which makes the Coca-Cola an incredible brand. According to the main

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